Cotton Prices Stable in North Indian States; Daily Arrivals Increase

New Delhi, June 17 (Commodities Control): Cotton prices remained stable for the third consecutive working day on Monday in the markets of the North Indian states Punjab, Haryana, and Rajasthan. The stability is attributed to limited purchases by spinning mills, while daily arrivals of Kapas cotton have increased in these states.

Last Friday, ICE cotton futures prices exhibited a mixed trend. The July-24 futures contract saw a decrease of 0.38 cents, settling at 70.97 cents. Conversely, the December-24 futures contract increased by 0.35 cents to 72.14 cents, and the March-25 futures contract rose by 0.12 cents to 73.43 cents. Despite these changes, cotton prices opened weak in ICE's electronic trading today.

The weather remains clear in the cotton-producing areas of North India. According to traders, the weak opening of cotton prices in ICE electronic trading today did not prompt increased purchases by spinning mills in North Indian states. Consequently, prices have remained stable.

Experts indicate that local demand for cotton yarn is weak, and export demand has not met expectations. Therefore, spinning mills are purchasing cotton only as needed, mitigating any significant rise in current cotton prices. The prices of Kapas and cotton seed also remained stable in these states.

The arrival of Kapas in the producing mandis of these states was recorded at 700 bales, each bale weighing 170 kg, compared to 550 bales on the previous working day.

Kapas prices were quoted at Rs 6,500 to Rs 6,800 per quintal in the mandis of Punjab and Haryana, while in Upper Rajasthan, the prices ranged from Rs 6,600 to Rs 6,900 per quintal. Cottonseed prices were quoted at Rs 2,650 to Rs 3,150 per quintal in Punjab and Haryana, and Rs 2,700 to Rs 3,300 per quintal in Upper Rajasthan.

For spot delivery, cotton prices in Punjab were quoted at Rs 5,675 to Rs 5,700 per maund (Rs 54,000 to Rs 54,300 per candy). In Haryana, prices were quoted at Rs 5,600 to Rs 5,625 per maund (Rs 53,300 to Rs 53,500 per candy).

In Upper Rajasthan, prices ranged from Rs 5,400 to Rs 5,800 per maund (Rs 51,400 to Rs 55,200 per candy). In Pilani, Rajasthan, prices were also quoted at Rs 5,400 to Rs 5,800 per maund. Meanwhile, in Lower Rajasthan, cotton prices rose to Rs 56,300 to Rs 56,500 per candy for spot delivery.




(By CommoditiesControl Bureau: +91-9820130172)