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Cotton Prices Stable in Karnataka Amid Limited Purchases

10 Jul 2024 2:38 pm
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New Delhi, July 10 (Commodities Control): Cotton prices in Karnataka remained stable for the 11th consecutive trading day on Wednesday due to limited purchases by spinning mills. Daily arrivals of Kapas have also halted in the state's mandis.

The weather is clear in the cotton-producing areas of Karnataka. According to traders, spinning mills in the state are buying cotton only as per their immediate requirements due to weaker-than-normal local demand for yarn. However, with upcoming festivals and wedding seasons in August, the demand for clothes is expected to increase. Most small spinning mills in the state have limited outstanding stock of cotton, necessitating future purchases. The mills are currently waiting for an uptick in yarn demand. Along with Kapas, cottonseed prices have also stabilized in the state.

There was a downward trend in the domestic futures market for cotton today. Kapas prices in the April-25 futures contract on NCDEX fell by Rs 1.5 to Rs 1,597.5 per 20 kg.

On Wednesday, the arrival of Kapas in the state's mandis was 1,000 bales, each bale weighing 170 kg. This was consistent with the number of bales arriving on the previous trading day.



(By CommoditiesControl Bureau: +91-9820130172)


       
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