NEW DELHI, Sept 28 (Commoditiescontrol): Cotton prices declined in the mandis of lower Rajasthan for the third consecutive day on Wednesday amid lower demand from mills, while daily arrivals were reported higher.
The weather has cleared up in the cotton growing areas of the state. According to traders, the arrival of new cotton is declining in Mewar line, but increasing in other lines. The prices of cotton weakened further today in the domestic market as the spinning mills of the state are procuring only in limited quantities, failing to get parity at current cotton prices. The production of cotton in the state is estimated to be high, so the ginners are also buying cotton only as per the requirement. As the weather has cleared up in the cotton producing areas of the state, the daily arrival of new cotton will increase in the coming days, and there will be pressure of arrivals in the next month. The local and export demand in yarn is weak due to which spinning mills are facing disparity at current prices. Therefore, cotton prices are expected to fall further.
A downtrend 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 lower by 1.11 percent. The November month cotton contract on the MCX also fell by Rs 830 at Rs 30,060 per bale (1 bale -170 kg).
A total 3,300 bales of kapas arrived today in the state, up from 1,000 bales a day ago.
In Alwar, Khairthal and Behror lines of the state, the price of 28.5 mm cotton was at Rs 69,500-70,000 per candy (one candy - 356 kg).
In Mewar/Vijaynagar line, there is no availability of premium quality cotton of 28 mm.
Cotton prices in Marwar line quoted at Rs 68,500 - 69,000 per candy.
Cotton prices in Beawar line were Rs 68,500 - 69,000 per candy.
Cottonseed prices ranged from Rs 3,700 to Rs 3,900 per quintal in the state's mandis, while kapas at Rs 8,000-8,700 per quintal.
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