Cotton Prices Weaken in Lower Rajasthan Amid Spinning Mills' Reduced Purchases

New Delhi, June 18 (Commodities Control): Cotton prices weakened in Lower Rajasthan on Tuesday due to reduced purchases by spinning mills, leading to a decline in the market.

The weather remains clear in the Kapas producing areas of the state. According to traders, a recent decline in global cotton prices has made exports from the domestic market unprofitable. This, in turn, has caused a reduction in purchases by the state's spinning mills, contributing to the downward pressure on prices.

Despite the weakening demand, the arrival of Kapas in the state's mandis has almost ceased. However, ginning mills still hold significant stocks of cotton, indicating that there is no immediate expectation for a rise in spot market prices.

In the domestic futures market, cotton prices showed a mixed trend. The April-25 futures contract on the NCDEX saw a marginal decline of Rs 1, settling at Rs 1,571 per 20 kg. On the other hand, the July-24 futures contract on the MCX remained stable at Rs 56,100 per candy.



(By CommoditiesControl Bureau: +91-9820130172)