New Delhi, May 6 (Commodities Control): Cotton prices remain stable in the markets of Maharashtra on Monday, attributed to reduced procurement from spinning mills at increased prices level, while daily arrivals of Kapas in the state's mandis remain consistent.
Traders note that cotton prices had witnessed an increase in the spot market on Saturday; however, the stabilization observed today is a result of reduced purchases from spinning mills at higher prices. According to experts, both export and local demand for cotton and yarn are weaker than usual, leading mills to operate within limited margins.
Additionally, ginning mills in the state are also experiencing reduced profitability at current cotton prices, resulting in decreased sales. Given these circumstances, cotton prices are expected to exhibit limited bullish and bearish trends in the spot market. Alongside Kapas, cottonseed prices also stabilized in the state.
In the domestic futures market, cotton prices saw an upward trend today, with Kapas prices rising by Rs 9 to reach Rs 1,581 per 20 kg in the April-25 futures contract on NCDEX.
Today, the arrival of Kapas in the producer markets of the state totaled 18,000 bales, compared to 20,000 bales on the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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