New Delhi, June 15 (Commodities Control): For the ninth consecutive trading day, cotton prices in Karnataka remained stable on Saturday due to limited sales by ginning mills. The daily arrival of cotton in the state's mandis also showed no change.
Traders report that ginning mills are incurring losses at current cotton prices, preventing them from selling cotton at reduced prices. Despite a weakening of cotton prices in the global market this week, prices in Karnataka have remained stable.
The decline in international prices has made cotton exports unprofitable, and domestic yarn prices have also weakened. Consequently, spinning mills are purchasing cotton only as needed. Prices for Kapas and cottonseed have also stabilized within the state.
According to the Indian Meteorological Department (IMD), Karnataka received 50 percent more rainfall than normal from June 1 to June 14.
On Saturday, the arrival of Kapas in the state's mandis was 1,000 bales, with each bale weighing 170 kg, consistent with the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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