Cotton Prices Remain Stable in Karnataka Amind Consistent Daily Arrivals

New Delhi, April 12 (Commodities Control): Cotton prices remained steady in the markets of Karnataka on Friday, reflecting limited demand from spinning mills, while the daily arrivals of Kapas in the state's mandis remained stable.

Traders report that cotton prices maintained stability for the fourth consecutive trading day due to limited buying from local spinning mills. Despite witnessing a decline in global cotton prices earlier in the week, the prices in Karnataka have remained unaffected. This lack of price movement has made cotton exports less profitable.

However, with only a limited outstanding Kapas stock remaining in the state, mills will buy cotton in near future. As a result, the likelihood of a significant price drop in the cotton prices is low. Meanwhile, Kapas prices in the state weakened by Rs 100, while cottonseed prices remained unchanged.

The domestic futures market also showed this trend, with the April-24 futures contract for Kapas on NCDEX declining by Rs 20 to Rs 1,493 per 20 kg. Similarly, the May-24 futures contract for cotton on MCX saw a decrease of Rs 520, closing at Rs 59,600 per candy.

Today's arrivals of Kapas in the state's mandis stood at 2,000 bales, with each bale weighing 170 kg, matching the numbers from the previous trading day.



(CommoditiesControl Bureau; +91-9820130172)