New Delhi, November 14 (Commodities Control): Cotton prices in North Indian states Punjab, Haryana, and Rajasthan held steady on Thursday, influenced by limited purchases from spinning mills, while daily Kapas arrivals in these markets rose.
On Wednesday, ICE cotton futures displayed a mixed trend: the December-24 contract rose by 0.13 cents to 68.9 cents, the March-25 contract increased by 0.03 cents to 71.1 cents, while the May-25 contract slipped by 0.02 cents to 72.38 cents. Cotton prices remain mixed in electronic trading on ICE today.
Traders noted a slowdown in cotton prices in North India over the past two days, stabilizing amid reduced ginner sales. However, given the pressure on ICE cotton futures, domestic prices are unlikely to rise soon. Despite the consumption season, local demand for cotton yarn is weaker than expected, prompting spinning mills to limit their purchases. Consequently, Kapas and cottonseed prices in these states remained stable.
The arrival of new Kapas increased, with Haryana markets receiving around 5,000 bales, Rajasthan around 12,500 bales, and Punjab about 1,000 bales.
Cottonseed prices ranged from ₹3,900 to ₹4,200 per quintal across Punjab, Haryana, and Upper Rajasthan lines.
The domestic futures market saw a downward trend, with Kapas on the NCDEX April-25 contract dipping ₹2.5 to ₹1,553 per 20 kg. On MCX, the November-24 cotton contract declined by ₹370 to ₹55,010 per candy.
In the spot markets:
- Punjab: ₹5,610 to ₹5,620 per maund (₹53,400 to ₹53,500 per candy)
- Haryana: ₹5,600 to ₹5,610 per maund (₹53,300 to ₹53,400 per candy)
- Upper Rajasthan: ₹5,600 to ₹5,640 per maund (₹53,300 to ₹53,700 per candy)
- Pilani, Rajasthan: ₹5,600 to ₹5,640 per maund for spot delivery
- Lower Rajasthan: ₹54,000 to ₹54,100 per candy for spot delivery
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(By CommoditiesControl Bureau; +91-9820130172)
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