New Delhi, May 17 (Commodities Control): Cotton prices in Gujarat remained unchanged for the second consecutive day on Saturday, reflecting the limited sales activity by ginning mills. Simultaneously, the daily arrival of Kapas in the state mandis stabilized.
Traders report that cotton prices in the domestic market have weakened over the current week, contributing to financial losses for ginning mills. To mitigate these losses, ginners are refraining from selling cotton at reduced prices, which has resulted in stable spot market prices. Additionally, spinning mills in the state are purchasing cotton only as necessary, engaging in limited export deals due to the subdued global demand. Consequently, cottonseed prices have also remained stable alongside Kapas.
The arrival of Kapas in Gujarat's producer markets was recorded at 7,000 bales, each weighing 170 kg, maintaining the same level as the previous working day.
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(By CommoditiesControl Bureau: +91-9820130172)
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