New Delhi, May 18 (Commodities Control): Cotton prices in Maharashtra remained stable for the third consecutive day on Saturday due to limited demand from spinning mills, while daily arrivals of Kapas showed a decline.
Traders report that ginning mills in Maharashtra are cautious, reflecting the recent decline in global cotton prices. Only mills with prior yarn sales and low cotton stock are making purchases. Larger mills in the state have enough cotton for one to one and a quarter month's consumption, while smaller mills typically have stock for only 20 to 25 days. As soon as local demand for cotton yarn rises, mills will need to increase their cotton purchases. Prices for Kapas and cottonseed have also remained stable.
On Saturday, the arrival of cotton in Maharashtra's producer markets was 15,000 bales, down from 17,000 bales on the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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