New Delhi, June 27 (Commodities Control): Cotton prices in Karnataka mandis rose on Thursday due to increased purchases by spinning mills, while daily arrivals of Kapas remained stable.
According to traders, the Cotton Corporation of India (CCI) has been continuously raising the selling price of cotton, prompting increased purchases from mills compared to earlier. Consequently, cotton prices have risen in the spot market. Most mills in the state have limited outstanding stock of cotton, leading to expectations that current prices will increase further if mill purchases continue. Today, Kapas prices rose by Rs 75, while cottonseed prices increased by Rs 50.
Sources also noted that the CCI sold a record amount of cotton to Indian mills in a single day on June 26.
In the domestic futures market, cotton prices continued to rise today. Kapas prices in the April-25 futures contract on NCDEX rose by Rs 4.5 to Rs 1,620 per 20 kg.
On Thursday, the arrival of Kapas in the state's mandis was 1,000 bales, with each bale weighing 170 kg, matching the arrival numbers from the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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