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Cotton Prices Steady in Maharashtra on Weakness in Demand at Higher Levels

6 Jul 2020 3:15 pm
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Mumbai (commodities control) - Cotton prices slowed after an extended northward rally reported last week in Maharashtra mandis. Although prices were supported on the lower side due to weak arrivals.

State arrivals were registered at 8,000 bales30%lower than Saturday's arrivals. Kapas was quoted at Rs 4300-4550 and cottonseed was priced at Rs 2200-2400/quintal and cotton seed cake was quoted at Rs 2000-2200/quintal. Nagpur-Yavatmal Line 30+mm cotton was quoted at Rs 34,000 and 29+MM was priced at Rs 33,500/candy. Meanwhile Jalgaon line 29+mm was quoted at Rs 33,300/candy. Akola-Marathwada line 29mm cotton was priced at Rs 32,500-32,700 and 28MM cotton were quoted at Rs 31,500-31,700/candy. Traders reveal improved demand at lower levels, and very few sellers at these levels. However recent rains have affected trade in mandis across the state.

       
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