Cotton Prices Hold Steady in Karnataka Amid Spinning Mills' Reduced Purchases

New Delhi, May 25 (Commodities Control): Cotton prices remained stable in Karnataka on Saturday due to reduced purchases from spinning mills at higher prices. The daily arrival of Kapas in the state mandis also remained stable.

Traders observed a mixed trend in ICE cotton futures prices on Friday, leading to weak buying at higher prices by mills in the domestic market. This has resulted in stable cotton prices in the spot market.

Despite this stability, a significant drop in current prices is unlikely. Ginning mills in the state are facing a disparity in the current cotton prices, leading to decreased sales, which in turn supports the current price levels. Alongside Kapas, cottonseed prices have also stabilized in the state.

On Saturday, the arrival of Kapas in Karnataka's mandis was recorded at 1,000 bales, with each bale weighing 170 kg. This figure is consistent with the arrival numbers from the previous trading day.



(By CommoditiesControl Bureau: +91-9820130172)