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M.P. Cotton Prices Hold Steady amid Weak Buying, Increased Arrivals

21 Oct 2020 3:00 pm
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Mumbai (Commodities Control) - Madhya Pradesh cotton prices were quoted steady for the second consecutive session on Wednesday, as demand from millers weakens. According to the traders, prices shot up by Rs 1,000-1,100 on Monday. Traders reveal that, although CCI is making purchases at the state mandis, the purchases are limited in quantity.

Having said so, weather has largely cleared up, barring in Khandesh and Burhanpur where it rained last evening. They are hopeful of a rise in arrivals in the coming days. Market arrivals were reported at 7,300-7,500 bales vs 7,000 bales in the last session.

M.P Cotton Quotes (Per Quintal)

Kapas - Rs 4,000-5,400

Cottonseed - Rs 2,200-2,450

Cotton Quotes (Per Candy)

29 mm RD (73/75) 4.5 Variety - Rs.39,000-40,000

28/28.5 mm RD (61/70) 4.5 Variety - Rs.32,500-37,000
MCX cotton for October futures is 0.56% higher at Rs 19,720 at 2.54 pm

(Commodities Control Bureau)

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