New Delhi, April 24 (Commodities Control): Cotton prices remained stable in Lower Rajasthan on Wednesday as spinning mills made limited purchases, while daily arrivals of Kapas remained steady in the state's mandis.
Traders noted that while cotton prices had seen an uptrend over the past two days, yarn prices failed to rise in proportion. Consequently, cotton prices stabilized as spinning mills made restrained purchases at elevated prices. However, most spinning mills in the state have a reduced outstanding stock of cotton, while arrivals of Kapas in the mandis have significantly decreased.
Hence, there is minimal potential for a major decline in cotton prices in the spot market. Alongside Kapas, cottonseed prices also stabilized in the state.
In the domestic futures market, cotton prices exhibited a mixed trend today. Kapas prices in the April-24 futures contract on NCDEX weakened by Rs 2.5 to Rs 1,446 per 20 kg. Conversely, cotton prices in the May-24 futures contract on MCX rose by Rs 240 to Rs 58,780 per candy.
Kapas arrival in the markets of Lower Rajasthan today totaled 300 bales, with one bale weighing 170 kg, consistent with the previous trading day's arrivals.
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(By Commoditiescontrol Bureau: +91-22-40015505)
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