Mumbai, 6 Feb (Commoditiescontrol): Cotton prices extended decline for the third day in a row across major mandis of lower Rajasthan on Monday, due to poor mills participation while regular pace of daily arrivals was witnessed.
Clear weather conditions are forecast across the state. As per traders, poor spinning mills demand has pushed cotton prices lower for the third day in a row. Poor cloth as well as cotton yarn demand has checked mills buying cotton. Spinning mills are buying limited quantities of cotton. Meanwhile, improvement in cotton seed prices has provided breather to mills. Seed prices gained in recent times, which provided some relief to ginning mills.
The state is set to harvest bumper crops in the current season. However, farmers are delaying cotton disposal at lower prices. As a result, the arrivals are declining as against the expectation of increase in arrivals. Improved demand from millers have helped boost cotton prices. However, traders rule out sharp price gains in near terms. They expect prices to stay softer.
On the domestic futures market today, cotton prices were quoting lower. April'23 futures contract of kapas on the NCDEX lowered by 0.99 percent.
A total of 3,000 bales of kapas arrived today in the state, similar quantity was received on the previous day.
In Alwar, Khairthal and Behror lines of the state, the price of 28.5 mm cotton was at Rs 59,000 - 59,500 per candy (one candy - 356 kg). In the Mewar/Vijaynagar line, cotton was offered in the range of Rs 60,500-61,200 per candy.
Cotton prices in Marwar and Vyavar line quoted between Rs 60,000-61,000 per candy. Beawar Cotton quoted in the range of Rs 60,000-Rs 61,000 per candy.
Cottonseed prices ranged from Rs 3,700 to Rs 3,800 per quintal in the state's mandis, while kapas at Rs 8,000-9,100 per quintal.
(By Commoditiescontrol Bureau: +91-9820130172)
0 Comments 
Post Comment 
