NEW DELHI, May 26 (Commoditiescontrol) - Cotton prices held almost steady in the mandis of lower Rajasthan on Thursday due to limited demand from mills, while no arrivals were reported today.
The weather is clear in the cotton producing areas of the state. According to traders, as the spinning mills are not getting parity at the current prices of cotton, they are buying cotton only as per the requirement. Therefore, the price of the cotton in the spot market remained steady. According to experts, the procurement of mills in the domestic market is expected to remain weak, so the prices are expected to soften gradually in the future. However, due to the decline in the production estimates of cotton in the state, the balance stock of cotton with the mills on an average is less than a month, while the arrival of the new crop in the state's mandis will start only in September-October.
A mixed trend was seen in cotton and kapas prices in the domestic futures market today afternoon with April'23 futures contract of kapas on the NCDEX edged down by 0.11 percent. While the May month cotton contract on the MCX gained by Rs 60 at Rs 48,260 per bale (1 bale -170 kg).
In Alwar, Khairthal and Behror lines of the state, the price of 28.5 mm cotton was at Rs 1,00,000- 1,01,500 per candy (one candy - 356 kg).
In Mewar/Vijaynagar line, the price of 28 mm cotton was Rs 79,000 to Rs 81,000 per candy.
Cotton prices in Marwar line ranged from Rs 96,000 to Rs 98,000 per candy.
Cotton prices in Beawar line ranged from Rs 95,000 to Rs 99,000 per candy.
Cottonseed prices ranged from Rs 3,700 to Rs 3,800 per quintal in the state's mandis.
(By Commoditiescontrol Bureau: +91-22-40015505)
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