Downward trend in Cotton in North Indian states due to weak demand from spinning mills, daily arrivals increased.

Cotton prices declined for the second consecutive day in the mandis of North Indian states Punjab, Haryana and Rajasthan due to weak demand from spinning mills, while daily arrivals of cotton in the mandis of these states improved. The weather is clear in the cotton growing areas of North India. According to traders, cotton prices in the world market had fallen by three points for the second consecutive day on Wednesday, due to which purchases from spinning mills in the domestic market also reduced. However, the outstanding stock of cotton with the spinning mills of these states is less and the ginners also do not want to sell at lower prices. Therefore, a big fall in the current prices of cotton is not expected. There is almost no outstanding stock of cotton left with the farmers in these states. Cotton prices have remained stable in these states, while cotton seed prices have declined. The arrival of cotton in the producer markets of these states was 4,600 bales, one bale of which was 170 kg, whereas the arrival on the previous working day was 4,400 bales. Cotton prices were quoted at Rs 6,600 to Rs 7,000 per quintal in the mandis of Punjab and Haryana line, while in Upper Rajasthan line its prices remained at Rs 6,700 to Rs 7,100 per quintal.

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