New Delhi, June 14 (Commodities Control): Cotton prices in Lower Rajasthan remained steady for the second consecutive day on Saturday, as reported by traders amidst subdued demand from spinning mills. The region is experiencing looming clouds over its cotton-producing areas.
Traders noted that local demand for cotton yarn is currently below average levels, prompting mills to sell their produce at reduced prices. Consequently, spinning mills are opting to procure cotton only as per their immediate requirements.
Ginning mills in the state have halted production due to the combination of low cotton arrivals and intense heat conditions. Despite this, mills are reported to possess sufficient cotton stocks, which further dampens the possibility of any significant price increase in the spot market.
The stable pricing trend in Lower Rajasthan reflects the cautious market sentiment prevailing among traders and millers.
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(By CommoditiesControl Bureau: +91-9820130172)
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