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Cotton Prices Rise in Lower Rajasthan as Spinning Mills Increase Purchases at Lower Rates

24 Jun 2024 1:19 pm
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New Delhi, June 24 (Commodities Control): Cotton prices in Lower Rajasthan saw an uptick on Monday driven by increased buying activity from local spinning mills at lower rates.

The rise in cotton prices can be attributed to uptick in demand from spinning mills in the region. However, traders are cautious about a substantial unilateral increase, given the recent decline in global cotton prices over the past two months, impacting export contracts from the domestic market.

Additionally, domestic demand for cotton yarn has not surged as anticipated, while ginners are grappling with excess cotton stocks.

In the domestic futures market today, cotton prices exhibited a mixed trend. The April-25 futures contract for Kapas on NCDEX weakened by Rs 6 to Rs 1,611 per 20 kg. Meanwhile, cotton prices for the July-24 futures contract on MCX climbed by Rs 20 to Rs 57,800 per candy.

(By CommoditiesControl Bureau: +91-9820130172)

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