New Delhi, May 20 (Commodities Control): Cotton prices remained stable in the Karnataka for the third consecutive trading day on Monday, driven by limited purchases from spinning mills. However, the state saw an increase in the daily arrivals of Kapas.
Despite cotton prices opening higher today in the electronic trading of the ICE, prices remained stable in Karnataka's mandis. Traders attribute this stability to the recent decline in global cotton prices, which has negatively impacted export deals from the domestic market. Additionally, local demand for yarn has weakened, leading spinning mills to purchase cotton only as necessary. Kapas and cottonseed prices also remained stable in the state.
On Monday, the arrival of Kapas in Karnataka's mandis stood at 2,000 bales, with each bale weighing 170 kg), up from 1,000 bales on the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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