Cotton Prices Stable in North Indian States Amid Spinning Mills Limited Purchases

New Delhi, July 15 (Commodities Control): Cotton prices remained stable for the second consecutive trading day on Monday in the markets of North Indian states—Punjab, Haryana, and Rajasthan. The stability is attributed to limited purchases by spinning mills, while the daily arrival of cotton in these states remains unchanged. The weather conditions in the cotton-producing areas of North India remain unfavorable.

Last Friday, ICE cotton futures prices saw an improvement. The December-24 futures contract rose by 0.4 cents to 71.27 cents, the March-25 futures contract increased by 0.36 cents to 73.1 cents, and the May-25 futures contract climbed by 0.3 cents to 74.47 cents. The trend continued today as cotton prices opened higher in ICE's electronic trading.

However, in the North Indian states, the prices stabilized due to limited demand. Traders have noted that the global availability of cotton is expected to be high, which dampens the prospects of significant price increases and impacts the export potential of cotton and yarn from the domestic market.

Consequently, spinning mills are purchasing cotton only as per their immediate requirements. Ginning mills are also cautious due to the disparity in current prices, resulting in weak selling activity. Prices for Kapas and cottonseed remained stable in these states.

The daily arrival of Kapas in the producing markets of Punjab, Haryana, and Rajasthan was reported at 500 bales (one bale weighing 170 kg), consistent with the previous trading day.

In terms of pricing, Kapas was quoted at Rs 6,700 to Rs 7,300 per quintal in Punjab and Haryana, and Rs 6,800 to Rs 7,400 per quintal in upper Rajasthan. Cottonseed prices ranged from Rs 3,050 to Rs 3,450 per quintal in Punjab and Haryana, and Rs 3,150 to Rs 3,550 per quintal in upper Rajasthan.

In the domestic futures market, cotton prices weakened today. The April-25 futures contract on NCDEX saw Kapas prices drop by Rs 3 to Rs 1,611 per 20 kg.

Spot delivery prices for cotton were quoted as follows:
- Punjab: Rs 5,925 to Rs 5,950 per maund (Rs 56,400 to Rs 56,600 per candy)
- Haryana: Rs 5,825 to Rs 5,850 per maund (Rs 55,400 to Rs 55,700 per candy)
- Upper Rajasthan: Rs 5,650 to Rs 6,050 per maund (Rs 53,800 to Rs 57,600 per candy)
- Pilani, Rajasthan: Rs 5,650 to Rs 6,050 per maund for spot delivery

- Lower Rajasthan: Rs 57,800 to Rs 58,000 per candy for spot delivery



(By CommoditiesControl Bureau: +91-9820130172)