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Cotton Prices Steady In Maharashtra amid Reduced Acreage, Frail Mill Buying

28 Sep 2020 2:27 pm
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Mumbai (commodities control) - Cotton prices in Maharashtra have steadied amid weak mill demand and increased arrivals on Monday.

Arrivals are expected to commence from October and speed up during November. This explains dull buys from yarn mills now. The state registered arrivals of 3,000 bales on Monday vs 2,500 bales on Saturday. Meanwhile kapas was quoted at Rs 4500-4900. Cottonseed was priced steady at Rs 2300-2550/quintal and cotton seed cake was quoted at Rs 2050-2300/quintal. Nagpur-Yavatmal Line 30+mm cotton was quoted at Rs 37,500 and 29+MM was priced at Rs 37,000/candy. Meanwhile Jalgaon line 29+mm was quoted at Rs 36,700/candy. Akola-Marathwada line 29mm cotton was priced at Rs 36,500 and 28.5+MM cotton were quoted at Rs 35,700/candy. 28 mm cotton was priced steady at Rs 35,500 per candy. Firmness in cotton futures is an additional support. MCX October futures rose 0.5% at 2.18 pm to trade at Rs 18,120 on Monday. Also, as per latest kharif acreage by GoI on 25th September Maharashtra's acreage has dropped by 1.71 lk ha. However, the national cotton acreage was registered at 130.37 lk ha, up 2.70 lk ha from last year.

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