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Cotton prices steady at Karnataka markets on limited mill buying, daily arrivals fall

3 Dec 2022 3:16 pm
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Mumbai, 3 DEC (Commoditiescontrol): Cotton prices maintained steady tone at the mandis of Karnataka on Saturday, due to sporadic spinning mills demand, while daily arrivals declined, traders informed.

Clear weather condition are witnessed in cotton growing region of the state. According to traders, mills are buying limited quantity of cotton due to poor demand for cotton yarn. Limited cotton buying resulted in price maintaining steady tone. Usually, ginning and spinning mills operation reach their full capacity by November-end or early-December, however, slow pace of daily cotton arrivals has curtailed mill operation 40-50%. Hence, cotton prices are expected witness increased volatility in near term.

A total 8,000 bales of 170 kgs each of cotton arrived in the mandis of the state today, as compared with 10,000 bales received on previous day.

In the state mandis, the price of cottonseed was Rs 3,700 to Rs 3,800 and that of kapas was Rs 8,600 to Rs 9,100 per quintal today.

The price of 29.5/30 mm cotton quoted at Rs 70,000 to Rs 71,000, 29.5 mm of cotton at Rs 69,000 to Rs 70,000 and 29 mm at Rs 67,000 to Rs 69,000 per candy.

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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