login_img.jpg
Login ID:
Password:
Partner Login
Contact Us : 7066511911

Cotton Prices Strengthen in Lower Rajasthan Amid Spinning Mills Sustained Demand

23 May 2024 12:04 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

New Delhi, May 23 (Commodities Control): Cotton prices in Lower Rajasthan strengthened for the second consecutive day on Thursday, driven by sustained demand from spinning mills, while daily arrivals of Kapas in the state's mandis remained stable.

Traders attribute the price increase to several factors, including reduced production by most ginning mills due to decreased Kapas arrivals and the intense heat. This reduction in supply, coupled with current pricing disparities, has resulted in weaker sales.

Despite these challenges, the recent uptick in cotton prices in the international market over the past two days has bolstered procurement from local spinning mills, which is expected to slightly improve cotton prices. In addition to Kapas, cottonseed prices have also remained stable across the state.

However, there was a declining trend in cotton prices in the domestic futures market today. The April-25 futures contract on NCDEX saw Kapas prices drop by Rs 2.5 to Rs 1,598.5 per 20 kg. Similarly, the May-24 futures contract on MCX witnessed a reduction of Rs 40, bringing the price down to Rs 55,940 per candy.

The arrival of Kapas in Lower Rajasthan's mandis stood at 200 bales, with each bale weighing 170 kg. This figure is consistent with the previous trading day's arrivals.

Overall, while the domestic futures market shows a downward trend, the local demand from spinning mills and international price increases are providing some support to the cotton market in Lower Rajasthan.




(By CommoditiesControl Bureau: +91-9820130172)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Post Comment  

Latest Market Commentary
CBOT Wheat Futures Dip Amid Improved Global Supply and ...
Maize Prices Firm Across India; Supply Concerns and Imp...
WHEAT NEWS
Early Start for Ukraine's 2024 Grain Harvest Amid Hot W...
CBOT Wheat Futures Decline Amid Improved Production Out...
more
Top 5 News
Farm Bodies Push for Import Duties, Tenant Farmer Benef...
Gujarat Sugar Prices -22 June 2024
Uttar Pradesh Sugar Prices -22 June 2024
Panjab Sugar Prices -22 June 2024
Prices Improve in Gujarat Due to Local Demand for Cumin...
Top 5 Special Reports
US soybean net sales for June 7-13 at 556,500 MT, up 48...
US cotton net export sales for June 7-13 at 189,000 RB,...
Government Raises Kharif Crop MSPs for 2024-25, Enhanci...
South Australia's 2024-25 Winter Crop Production Foreca...
Weekly: ICE Sugar Futures Revived By ISO's Global Defic...
Copyright © CC Commodity Info Services LLP. All rights reserved.