New Delhi, July 5 (Commodities Control): Cotton prices remained stable in Karnataka for the seventh consecutive trading day on Friday due to limited purchases by spinning mills, while daily arrivals of Kapas in the state's mandis reduced.
According to traders, daily arrivals of Kapas in the state's mandis have reduced, and the outstanding stock of farmers is now left in limited quantity. Stockists do not want to sell by reducing the price, while ginning mills are finding disparity in the current prices of cotton. On the other hand, due to weak demand for yarn, the state's spinning mills are purchasing cotton in limited quantity. Therefore, there is no possibility of a big increase in its prices in the spot market. Along with Kapas, cottonseed prices have become stable in the state.
There was a downward trend in cotton prices in the domestic futures market today. Kapas prices in the April-25 futures contract on NCDEX weakened by Rs 2.5 to Rs 1,597.5 per 20 kg.
On Friday, the arrival of Kapas in the state's mandis was 500 bales, one bale was of 170 kg, whereas on the previous trading day, the arrival was of 1,000 bales.
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(By CommoditiesControl Bureau: +91-9820130172)
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