New Delhi, June 27 (Commodities Control): Cotton prices surged in Lower Rajasthan on Thursday, driven by continued purchases by spinning mills.
According to traders, the rise in cotton prices is attributed to increased buying activity by the state's spinning mills. Despite weaker-than-normal local and export demand for yarn, mills are optimistic about a potential rise in demand in the coming days. Conversely, ginning mills in the state are experiencing a disparity in the current cotton prices, leading to weak selling from ginners.
The Cotton Corporation of India (CCI) today raised the selling prices of cotton by Rs 300 to Rs 500 per candy, contributing to the bullish trend in the market.
In the domestic futures market, cotton prices also remained bullish. Kapas prices in the April-25 futures contract on NCDEX rose by Rs 4.5 to Rs 1,620 per 20 kg.
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(By CommoditiesControl Bureau: +91-9820130172)
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