MUMBAI, May 17 (Reuters) - India's cotton prices may continue to fall for another week after exports were halted about a month ago, but some domestic demand and falling arrivals may limit the losses, analysts and traders said.

India has stopped cotton exports to control soaring local prices, tightening global supplies and raising prospects of a further rise in New York futures that rose to a two-year high last month.

Prices on an average have fallen about 20 percent in the past four weeks since exports were stopped, an official with Cotton Corporation of India said.

"The domestic mill consumption remains good and should keep prices attractive.... even if exports are not happening," the official said.

As of April 19, when exports were halted, India had registered 8.5 million bales of cotton for exports, while 6.01 million bales had already been shipped out.

"Demand for good quality cotton is on the rise...the prices now seem to be managebale for mill operations," said Ankur Syal, general manager at Pyadon Cotton Mills in Ludhiana.

(Reporting by Sourav Mishra; editing by Sunil Nair)