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.
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(By CommoditiesControl Bureau: +91-9820130172)
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