New Delhi, September 9 (Commodities Control): Cotton prices in Lower Rajasthan remained unchanged on Monday due to subdued demand from spinning mills. Despite recent price increases, local demand for cotton yarn did not rise correspondingly, leading to a stability in spot market prices.
The cotton-producing areas of Lower Rajasthan experienced cloudy weather. Traders noted that although cotton prices had seen a rise towards the end of last week, the anticipated increase in demand from local spinning mills did not materialize. Consequently, prices have stabilized in the spot market.
Currently, spinning mills in the state are operating with reduced cotton stocks. However, ginning mills are reportedly unwilling to lower their prices, maintaining the stability in the spot market. This lack of significant price movement suggests that any substantial price fluctuations in the near term are unlikely.
In contrast to the stable spot market, the domestic futures market saw a decline today. Kapas prices fell by Rs 4.5, settling at Rs 1,617 per 20 kg for the April-25 futures contract on NCDEX.
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(By CommoditiesControl Bureau; +91-9820130172)
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