Cotton Prices Soften in Northern India Due to Weak Demand from Spinning Mills

New Delhi, September 11 (Commodities Control): Cotton prices have softened in the markets of northern Indian states including Punjab, Haryana, and Rajasthan due to weak demand from spinning mills. Additionally, there were no new arrivals of Kapas in these states' mandis today.

ICE cotton futures saw an increase on Tuesday. The December 2024 futures contract rose by 0.52 cents to reach 68.21 cents. The March 2025 futures contract increased by 0.38 cents to 69.84 cents. The May 2025 futures contract saw a rise of 0.33 cents, bringing the price to 71.13 cents. Today, ICE electronic trading also opened with higher cotton prices.

Several areas in the cotton-producing regions of northern India have experienced rainfall. According to traders, the weak buying by spinning mills in these states has led to a softening in cotton prices. However, traders are not overly pessimistic, as mills have a low inventory of cotton and ginners are reluctant to lower prices. The increase in ICE cotton futures on Tuesday was attributed to adverse weather conditions. Rainfall in various regions over the past 24 hours could delay the arrival of new crops. Experts suggest that the arrival of new crops in these states will also depend on the weather. The price of cottonseed has increased by ₹100.

In Punjab and Haryana, cottonseed prices quoted between ₹3,300 and ₹3,650 per quintal, while in upper Rajasthan, the prices range from ₹3,350 to ₹3,800 per quintal.

In the domestic futures market, cotton prices showed a mixed trend today. On NCDEX, the April 2025 futures contract saw a rise of ₹1.5, reaching ₹1,626 per 20 kg. Meanwhile, on MCX, the July 2024 futures contract experienced a decrease of ₹70, with prices falling to ₹58,250 per candy.

In Punjab, the spot price for cotton is quoted between ₹5,875 and ₹5,900 per maund, equivalent to ₹56,000 to ₹56,200 per candy. In Haryana, the spot price for cotton is between ₹5,775 and ₹5,800 per maund, or ₹54,900 to ₹55,100 per candy.

In upper Rajasthan, cotton prices are quoted between ₹5,525 and ₹6,000 per maund, or ₹52,600 to ₹57,000 per candy. In Pilani, Rajasthan, spot prices for cotton range from ₹5,525 to ₹6,000 per maund. In lower Rajasthan, cotton prices have risen to ₹58,800 to ₹59,000 per candy.



(By CommoditiesControl Bureau; +91-9820130172)