New Delhi, December 5 (Commodities Control): Cotton prices in Karnataka's mandis remained stable for the third consecutive day on Thursday as spinning mills limited their purchases. Meanwhile, daily arrivals of Kapas in the state decreased to 20,000 bales, down from 22,000 bales the previous day.
Subdued local and export demand for yarn has led to reduced buying activity from spinning mills, who find current market conditions unprofitable. At the same time, ginning mills are holding on to high-priced Kapas stock, limiting sales at lower prices.
- Kapas and Cottonseed Prices: Stable across the state.
- Domestic Futures Market: Mixed trends were observed today.
- On NCDEX, April-25 Kapas futures dipped by ₹2 to ₹1,528 per 20 kg.
- On MCX, November-24 cotton futures rose by ₹460 to ₹55,850 per candy.
Kapas arrivals in Karnataka's mandis decreased to 20,000 bales, each bale 170 kg, compared to 22,000 bales on the previous trading day.
Cotton prices in Karnataka are expected to remain stable in the short term, influenced by limited demand from spinning mills and cautious selling by ginners. Traders believe a significant price movement is unlikely unless there is a notable increase in yarn demand or changes in Kapas arrivals.
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(CommoditiesControl Bureau; +91-9820130172)
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