New Delhi, June 29 (Commodities Control): Cotton prices in Lower Rajasthan remained steady on Saturday due to limited purchases by spinning mills.
The weather remains clear in the cotton-producing areas of the state. Traders indicate that while cotton prices had been on the rise for the past two days, the demand for yarn did not increase proportionally. This disparity led to a slowdown in purchases by spinning mills, causing the prices to stabilize. Despite this, traders do not anticipate a significant price decline. The arrival of new cotton in the state has almost ceased, and many small spinning mills are operating with minimal cotton stock.
Cotton prices had seen an upward trend for two consecutive days prior to the halt. Yarn demand has not kept pace with rising cotton prices, contributing to the slowdown. The arrival of new cotton in Lower Rajasthan has nearly stopped, and small spinning mills are facing a shortage of cotton stock, which may prevent a significant price drop.
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(By CommoditiesControl Bureau: +91-9820130172)
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