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Cotton Prices Dip in Lower Rajasthan on Reduced Buying; Daily Arrivals Decline

18 Apr 2024 12:24 pm
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New Delhi, April 18 (Commodities Control): Cotton prices went down in Lower Rajasthan on Thursday due to decreased purchases from spinning mills. Moreover, the state's mandis also saw a drop in daily arrivals of Kapas.

Traders attribute the slowdown in cotton prices to reduced purchases from the state's spinning mills, dr iven by a global downturn in cotton prices. This situation has rendered cotton exports less profitable and weakened local demand for yarn, leading to a softening of cotton prices in the spot market. Kapas prices in the state decreased by Rs 200, while cottonseed prices increased by Rs 75.

Domestic futures markets also showed a declining trend in cotton prices today. Kapas prices in the April 2024 futures contract on NCDEX dropped by Rs 14.5 to Rs 1,469 per 20 kg. Meanwhile, cotton prices in the May 2024 futures contract on MCX fell by Rs 460 to Rs 57,140 per candy.

The arrival of Kapas in the mandis of Lower Rajasthan today was recorded at 500 bales, each bale weighing 170 kg, down from 800 bales on the previous trading day.




(CommoditiesControl Bureau; +91-9820130172)


       
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