New Delhi, June 26 (Commodities Control): Cotton prices increased for the third consecutive trading day on Wednesday in the markets of North Indian states Punjab, Haryana, and Rajasthan. The rise is attributed to continued buying by spinning mills, while daily arrivals of Kapas remained stable in these states' markets.
On Tuesday, ICE cotton futures prices rose for the second day, with the October 2024 futures contract increasing by 1.93 cents to 74.21 cents. The December 2024 futures contract rose by 1.68 cents to 75.07 cents, and the March 2025 futures contract climbed by 1.59 cents to 76.42 cents. However, there is a downward trend in cotton futures prices in ICE's electronic trading today.
The weather remains clear in the cotton-producing areas of North India. Traders reported a three-point increase in cotton prices in the foreign market on Tuesday. Additionally, the Cotton Corporation of India (CCI) has been continuously increasing the selling price of cotton for the past two days. Consequently, cotton prices have risen for the third consecutive day due to continued purchases by spinning mills in the North Indian states.
Experts indicate that sowing of Kapas is lagging behind in North India and other states, and the outstanding stock of Kapas is limited in North Indian states. Ginners do not find the current prices of cotton profitable, suggesting further improvement in cotton prices in the spot market. Kapas prices rose by Rs 100 in these states, while cottonseed prices remained stable.
On Tuesday, the CCI increased the selling price of cotton by Rs 200 to Rs 600 per candy, following a Rs 300 per candy increase on Monday.
The arrival of Kapas in the producing mandis of these states was recorded at 500 bales (one bale = 170 kg), the same number as the previous working day.
In the mandis of Punjab and Haryana, Kapas was quoted at Rs 6,600 to Rs 7,000 per quintal, while in the upper Rajasthan line, it was priced at Rs 6,700 to Rs 7,100 per quintal. Cottonseed prices were quoted at Rs 2,900 to Rs 3,200 per quintal in Punjab and Haryana, and Rs 3,000 to Rs 3,400 per quintal in upper Rajasthan.
The domestic futures market also showed a bullish trend today. The price of cotton in the April 2025 futures contract on NCDEX rose by one rupee to Rs 1,628 per 20 kg.
In Punjab, cotton spot delivery prices were quoted at Rs 5,750 to Rs 5,775 per maund, equivalent to Rs 54,600 to Rs 54,900 per candy.
In Haryana, cotton spot delivery prices were quoted at Rs 5,675 to Rs 5,700 per maund, equivalent to Rs 53,900 to Rs 54,200 per candy.
In Upper Rajasthan, cotton spot delivery prices were quoted at Rs 5,475 to Rs 5,875 per maund, equivalent to Rs 52,000 to Rs 55,800 per candy.
In Pilani, Rajasthan, cotton spot delivery prices were quoted at Rs 5,475 to Rs 5,875 per maund.
In Lower Rajasthan, cotton spot delivery prices were quoted at Rs 56,400 to Rs 56,600 per candy.
(1).png)
(By CommoditiesControl Bureau: +91-9820130172)
0 Comments 
Post Comment 
