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MP: Cotton Prices Crash Rs 1000

23 May 2020 5:56 pm
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Mumbai (Commodities Control) – Cotton prices crash Rs 800-1000/Candy in Madhya Pradesh mandis owing to pale demand from textile and yarn mills.

State mandis registered arrivals of 1500 bales, while kapas was quoted at Rs 4600-5200 and cottonseed was priced at Rs 2300-2600/Quintal. Cottonseed cake traded in the range of Rs 2285-2500/Quintal.

29mm cotton prices collapsed to Rs 31,700-32,500/candy and 28-28.5mm was quoted at Rs 31,200-31,700. 25 mm cotton variety was priced at Rs 22,800-23,000/candy.

Traders claim that mills are barely operational due to lack of workers, which is why buyers are missing from the mandis.

(Commodities Control Bureau)

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