New Delhi, June 19 (Commodities Control): Cotton prices in Lower Rajasthan remained stable on Wednesday, due to weak sales by ginning mills at lower prices.
The weather remains clear in the state's cotton-producing areas. Traders noted that cotton prices declined on Tuesday, but ginning mills are experiencing a disparity with the current prices. As a result, weak sales from ginners have led to price stabilization. However, a significant price increase is unlikely, given that domestic cotton exports are currently unprofitable. Consequently, spinning mills in the state are purchasing cotton only as needed.
Today, the domestic futures market showed a mixed trend for cotton. Kapas prices in the April-25 futures contract on NCDEX rose by Rs 8 to Rs 1,572 per 20 kg. Conversely, cotton prices in the July-24 futures contract on MCX fell by Rs 60 to Rs 56,310 per candy.
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(By CommoditiesControl Bureau: +91-9820130172)
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