New Delhi, March 30 (Commodities Control): Cotton prices in Madhya Pradesh sustained stability for the second consecutive day on Saturday, attributed to limited demand from spinning mills, while the daily arrival of Kapas in the state's mandis also maintained consistency.
Traders noted that spinning mills, grappling with weak demand for cotton yarn, are cautiously procuring limited quantities of cotton, thereby upholding stability in spot market prices for the second day running. However, ginning mills are also reluctant to reduce cotton prices, given their procurement of Kapas at comparatively higher rates. Consequently, market participants anticipate limited fluctuations in cotton prices, with a balanced outlook expected. Furthermore, in tandem with Kapas, cottonseed prices also exhibited stability in the state.
The arrival of Kapas in the producer markets of Madhya Pradesh totaled 3,000 bales, with each bale weighing 170 kg, matching from the previous working day.
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(CommoditiesControl Bureau; +91-9820130172)
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