New Delhi, April 18 (Commodities Control): Cotton prices remain stable in Karnataka on Thursday due to limited demand from spinning mills. The state also experienced a decline in daily arrivals of Kapas in the mandis.
Traders reported that ginners are facing unprofitable situations at current prices, leading to weak selling activity. Experts indicated that local and export demand for yarn has decreased compared to normal levels, which suggests that a significant rise in spot market cotton prices is unlikely. Kapas prices in the state weakened by Rs 100, while cottonseed prices increased by Rs 50.
A mixed trend in cotton prices was observed in the domestic futures market today. Kapas prices in the April 2024 futures contract on NCDEX decreased by Rs 17 to Rs 1,466.5 per 20 kg. On the other hand, cotton prices in the May 2024 futures contract on MCX rose by Rs 260 to Rs 57,850 per candy.
On Thursday, the arrival of Kapas in the state's mandis was recorded at 2,000 bales (with each bale weighing 170 kg), down from the 2,500 bales seen on the previous trading day.
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(CommoditiesControl Bureau; +91-9820130172)
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