New Delhi, June 24 (Commodities Control): Cotton prices remained stable in Karnataka's mandis on Monday for the 16th consecutive trading day due to limited purchases by spinning mills. Meanwhile, an increase in daily arrivals of Kapas was recorded in the state's mandis.
Traders noted that cotton prices opened higher in December and March futures contracts in ICE's electronic trading. However, the state's spinning mills are buying cotton only as per their requirements, leading to stable spot market prices. Ginning mills in Karnataka are not finding profitability at the current prices and are reluctant to sell cotton at reduced prices. This situation suggests limited fluctuations in cotton prices for now. Additionally, prices for both Kapas and cottonseed have become stable in the state.
The domestic futures market showed a mixed trend in cotton prices today. On the NCDEX, Kapas prices for the April-25 futures contract weakened by Rs 8, settling at Rs 1,609 per 20 kg. Conversely, on the MCX, cotton prices for the July-24 futures contract rose by Rs 20, reaching Rs 57,800 per candy.
Monday saw the arrival of 1,500 bales of Kapas in the state's mandis, with each bale weighing 170 kg. This marks an increase from the previous trading day's arrival of 1,000 bales.
(510)(1).png)
(By CommoditiesControl Bureau: +91-9820130172)
0 Comments 
Post Comment 
