Cotton stable due to limited demand from spinning mills
Cotton prices stabilized on Saturday in the mandis of North Indian states of Punjab, Haryana and Rajasthan due to limited demand from spinning mills, 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. Cotton prices had declined in the foreign market on Friday, but prices stabilized due to low sales from ginning mills in North Indian states. According to traders, cotton prices have declined in these states in the current week because the subscription for cotton yarn is weaker than normal. Due to which the spinning mills are feeling disparity in the current prices of cotton. If the weather remains favourable, the arrival of new cotton in these states will increase in the coming days, and the quality of the cotton coming so far in the current season is good. In such a situation, there is no possibility of a big rise in the prices of cotton in the spot market. Along with cotton, the prices of cotton became stable in these states.