Cotton prices soften further in Karnataka on weak mill demand amid rise in arrivals

Cotton prices have softened further in the mandis of Karnataka on Monday, pressured by poor spinning mills buying, as well as increase in daily arrivals. Weather condition has turned unfavourabl in cotton growing region of the state. According to traders, demand for yarn and apparel is poor, hence ginners and spinning mills have adopted wait and watch policy. In the current season, the state reported rise in area under cotton cultivation. As a result of which, it is expected to harvest bumper cotton crop. There is steady pick-up in arrivals at the market yards, however, due to bad weather condition, cotton arrivals are well below daily average levels. If the weather condition improves, the arrival of new cotton will increase in the mandis of the state by mid-November. Therefore, cotton prices are likely to witness volatile price movement.

Insert title here