Cotton Prices Rise in North Indian States; Daily Arrivals Stable

New Delhi, June 25 (Commodities Control): Cotton prices rose for the second consecutive trading day on Tuesday in the markets of North Indian states Punjab, Haryana, and Rajasthan due to continued buying by spinning mills, while daily arrivals of Kapas remained stable in these states.

ICE cotton futures were bullish on Monday. The October-24 futures contract rose by 0.27 cents to 72.28 cents. The December-24 futures contract increased by 1.18 cents to 73.39 cents, and the March-25 futures contract climbed by 1.23 cents to 74.83 cents. However, there is a mixed trend in cotton futures prices in ICE's electronic trading today.

The rise in global cotton prices on Monday influenced the domestic market, with continued buying by spinning mills. The arrival of cotton in these states is limited, as ginning mills have stopped production due to excessive heat, making the current cotton prices unprofitable for ginners. Consequently, selling pressure has decreased.

Experts indicate that yarn exports in May have decreased by more than 18 percent compared to the same period last year, and local demand for yarn is also weak. Therefore, there is no expectation of a significant rise in current cotton prices. While cotton prices remained stable, cottonseed prices increased.

The arrival of Kapas in the producing mandis of these states was 500 bales, with one bale weighing 170 kg, the same as the previous trading day.

Kapas prices were quoted at Rs 6,500 to Rs 6,900 per quintal in the markets of Punjab and Haryana, while in the upper Rajasthan line, prices ranged from Rs 6,600 to Rs 7,000 per quintal. Cottonseed prices were quoted at Rs 2,900 to Rs 3,200 per quintal in Punjab and Haryana, and Rs 3,000 to Rs 3,400 per quintal in the upper Rajasthan line.

Cotton prices remained bullish in the domestic futures market today. Kapas prices rose by one rupee to Rs 1,619 per 20 kg in the April-25 futures contract on NCDEX.

Spot delivery prices of cotton in Punjab were quoted at Rs 5,725 to Rs 5,750 per maund, equivalent to Rs 54,400 to Rs 54,700 per candy. In Haryana, the spot delivery price ranged from Rs 5,650 to Rs 5,675 per maund, equivalent to Rs 53,700 to Rs 54,000 per candy.

In Upper Rajasthan, spot delivery prices were quoted at Rs 5,450 to Rs 5,850 per maund, equivalent to Rs 51,800 to Rs 55,600 per candy. In Pilani, Rajasthan, the spot delivery price ranged from Rs 5,450 to Rs 5,850 per maund. In Lower Rajasthan, spot delivery prices were quoted at Rs 56,200 to Rs 56,400 per candy.



(By CommoditiesControl Bureau: +91-9820130172)