New Delhi, April 16 (Commodities Control): Cotton prices maintained stability in Lower Rajasthan on Tuesday, primarily attributed to subdued sales from ginning mills at lower price levels, coupled with moderate daily arrivals of Kapas in the state's mandis.
Traders note a consistent downtrend in cotton prices over the past five working days in the state. Ginning mills, facing reduced profitability at current price levels, have refrained from extensive selling.
Moreover, ginning mills had previously procured Kapas from farmers at relatively higher prices. Experts suggest that with recent declines in cotton prices in the global market, exports are not deemed profitable, further limiting the potential for significant price hikes. Concurrently, Kapas and cottonseed prices have also stabilized in the state.
In the domestic futures market, cotton prices exhibited a declining trend today, with Kapas prices in the April-24 futures contract on NCDEX weakening by Rs 2.5 to Rs 1,484.5 per 20 kg.
Arrivals of Kapas in the mandis of Lower Rajasthan today amounted to 700 bales, with each bale weighing 170 kg, compared to 800 bales recorded on the previous trading day.
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(CommoditiesControl Bureau; +91-9820130172)
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