New Delhi, June 14 (Commodities Control): Cotton prices remained stable for the eighth consecutive trading day in Karnataka on Friday due to weak sales from ginning mills, while daily arrivals of Kapas also remained steady.
According to traders, ginning mills in the state are experiencing a disparity at current prices, leading them to reduce sales. As a result, cotton prices have remained stable in the spot market. Recent global cotton price declines have made exports less profitable, and the weak demand for cotton yarn has caused spinning mills to purchase cotton only as needed. Prices for Kapas and cottonseed have also stabilized in the state.
In the domestic futures market, cotton prices showed an upward trend today. On NCDEX, Kapas prices for the April-25 futures contract rose by Rs 7 to Rs 1,575 per 20 kg. On MCX, cotton prices for the July-24 futures contract increased by Rs 130 to Rs 56,250 per candy.
On Friday, the arrival of Kapas in Karnataka's mandis was 1,000 bales (one bale = 170 kg), consistent with the previous trading day's arrivals.
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(By CommoditiesControl Bureau: +91-9820130172)
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