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Cotton continues to rule stable in Karnataka amid limited demand

1 Oct 2022 7:55 pm
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NEW DELHI, Oct 1 (Commoditiescontrol) : Cotton prices quoted unchanged in the mandis of Karnataka for the second consecutive day on Saturday amid limited demand from spinning mills, while daily arrivals were reported lower.

The weather remained inclement in the cotton producing areas of the state, with some places have reveived rain. According to traders, if the weather continues to be clear, the arrival of new cotton will increase in the producer mandis of the state by the end of the current month, while exports of cotton as well as yarn do not seem to be competitive, due to which the mills of the state are facing disparity at the current prices of cotton. The sowing of cotton in the state has increased in the current season as compared to last year, and so far the weather has also been almost favourable for the crop. Due to which the production of cotton is expected to be higher than last year. Therefore, in the coming days, with the increase in daily arrivals of cotton, the current prices are expected to remain subdued.

In Karnataka, cotton has been sown in 8.22 lakh hectares in the current kharif, as against 6.44 lakh hectares in the same period of the last kharif season. According to the Indian Meteorological Department, IMD, in the current season from October 1 to September 30, rainfall in Karnataka has been 30 percent more than normal.

A total 1,200 bales of 170 kgs each of cotton arrived in the mandis of the state today, down from 1,500 bales a day before.

In the state mandis, the price of cottonseed was Rs 2,800 to Rs 3,500 and that of kapas was Rs 7,800 to Rs 9,000 per quintal today.

The price of 29.5/30 mm cotton quoted at Rs 71,000 to Rs 73,000, 29.5 mm of cotton at Rs 69,000 to Rs 71,000 and 29 mm at Rs 67,000 to Rs 69,000 per candy.


       
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