New Delhi, March 28 (Commodities Control): Cotton prices in Lower Rajasthan maintained stability on Thursday, owing to a reduction in purchases from spinning mills at increased prices. This stabilization comes alongside a decrease in the daily arrivals of Kapas in the state's mandis.
Traders note that cotton prices experienced an uptick in the state on Wednesday. However, the corresponding increase in yarn prices did not align proportionally, leading to a subdued demand from mills and subsequently stabilizing prices. With the month of March nearing its end, procurement from mills is anticipated to remain limited, thus contributing to minimal fluctuations in cotton prices. Similar stability was observed in Kapas and cottonseed prices across the state.
In the domestic futures market, cotton prices displayed a declining trend. The April-24 futures contract for Kapas on NCDEX weakened by Rs 3 to Rs 1,532 per 20 kg. Meanwhile, cotton prices in the May-24 futures contract on MCX saw a decline of Rs 80 to Rs 62,000 per candy.
The arrival of Kapas in the mandis of Lower Rajasthan today amounted to 1,000 bales, with one bale equivalent to 170 kg. This figure represents a decrease from the previous trading day, which recorded arrivals of 1,500 bales.
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(CommoditiesControl Bureau; +91-9820130172)
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