M.P. Cotton Prices Hold Steady amid Weak Stockists Sales, Reduced Arrivals

Mumbai (Commodities Control) - Madhya Pradesh cotton prices were generally steady amid restricted sales by stockists at lower prices and weaker daily arrivals of cotton. The fibre was quoted Rs 200/Candy lower by last evening, in the state mandis.

Traders note that arrivals have declined recently. However arrivals are seen rising, as weather is generally clear in the producing region. Today market arrivals were reported at 18,000 bales vs 24,000 bales in the last session.Traders note that stockists' sales have declined amid low prices, which in turn has affected daily arrivals. However rising prices will eventually lead to improved arrivals.

M.P Cotton Quotes (Per Quintal)

Kapas - Rs 4,400-5,500

Cottonseed - Rs 2,250-2,500

CCI purchased kapas at the rate of Rs 5,425-5,725 per Quintal. CCI LRA is quoted at Rs 5,100-5,300 per Quintal.

Cotton Quotes (Per Candy)

New Cotton 29-29+mm RD 75 Variety - Rs.41,500-41,700

RD 74 Variety - Rs.40,200-40,600

RD 73 Variety - Rs 39,300 - 39,800

RD 72 Variety - Rs 38,800 - 39,000

RD 71 Variety - Rs 38,000 - 38,500

Lower RD 61/70 - Rs 34,000 - 37,800

DCH 34 mm - Rs 57,500- 58,000

(Commodities Control Bureau)