New Delhi, April 8 (Commodities Control): Cotton prices remained stable in the markets of Karnataka on Monday due to limited demand from spinning mills, while the daily arrival of Kapas in the mandis of the state reduced.
According to traders, cotton prices remained stable even today due to limited purchases from the state's spinning mills. However, most of the spinning mills in the state have less outstanding stock of cotton, and only limited amount of outstanding stock of Kapas is left with the farmers of the state. In the coming days, local demand for yarn will increase due to consumption. In such a situation, the mills will have to purchase cotton. Along with Kapas, cottonseed prices became stable in the state.
There was a mixed trend in cotton prices in the domestic futures market today. Kapas prices in April-24 futures contract on NCDEX weakened by Rs 2 to Rs 1,518.5 per 20 kg. During this period, cotton prices rose by Rs 220 to Rs 61,800 per candy in the May-24 futures contract on MCX.
On Monday, the arrival of Kapas in the mandis of the state was 2,000 bales, one bale of which was 170 kg, while the arrival on the previous trading day was 3,000 bales.
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(CommoditiesControl Bureau; +91-9820130172)
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