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MP Spot Cotton Remains Steady

10 Jul 2020 6:47 pm
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Mumbai (commodities control) - M.P. cotton prices were steady on limited trade activity. Mills were reluctant to make fresh purchases at higher levels. The state reported increased arrivals of 600 bales.kapas was quoted at Rs 3300-4300, down Rs 100 and cottonseed was priced at Rs 2200-2300 a Quintal. Cottonseed cake traded in the range of Rs 2000-2150 per Quintal.

29 mm cotton was quoted at Rs 33,000-33,500 and 28-28.5MM was priced at Rs 29,000-31,000/candy. DCH 34-35 MM was quoted at Rs 53,000-54,000/candy.

Mills were not interested to purchase at higher levels as they anticipate fall in prices in the future due to higher acreage and the early arrival of new crop due to early sowing and good monsoon.On the other hand sellers are not interested to sell at lower level as they expect better prices due to firm ICE futures.

27-30mm cotton in Indore was quoted at Rs 35,100-37,500 by CCI .There is a quantity discount of Rs 300-1500 depending on the quantity purchased.

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