Cotton soft in North Indian states due to reduced demand from spinning mills, arrivals increases
Cotton prices in the mandis of North Indian states Punjab, Haryana and Rajasthan are softened due to reduced demand from spinning mills at half price, while an increase in daily arrivals of cotton was recorded in the mandis of these states. The weather is clear in the cotton growing areas of North India. According to traders, cotton prices opened weak in the electronic trading of ICE, hence due to weak demand from spinning mills of North Indian states at increased prices, its prices have softened. However, there is no possibility of a major fall in cotton prices in these states as the cotton crop has been damaged due to recent rains and Pink Bollworm . According to experts, pink bollworm has caused damage to the cotton crop in many areas of Punjab and Rajasthan adjacent to Pakistan, while the quality has been affected due to rains and the productivity will also decrease. The cotton production estimates of these states will be lower than before. Cottonseed prices softened in these states, while cotton prices remained stable.