Mumbai, 3 DEC (Commoditiescontrol): Cotton prices softened at several mandis across Maharashtra on Saturday, due to poor spinning mills demand, while daily arrivals have increased.
Clear weather conditions are reported in the cotton growing areas of the state. As per local traders, As per traders, mills are buying limited quantity of cotton due to poor cloth offtake. Lack of demand resulted in cotton prices staying subdued. Further, poor realisation from cotton exports have stalled multi national companies buying activity. Hence, cotton prices declined today. Farmers are delaying cotton sell at lower price. They hope generate similar profits to last year. This has affected cotton arrivals in the state. Hence, cotton prices are likely to witness volatility in the near term.
On Saturday, a total 20,000 bales of 170 kgs each of cotton arrived in the mandis of the state, as compared with 18,000 bales received on the previous day.
Cotton prices in the state's mandis were at Rs 8,500 - Rs 9,100 while cottonseed was quoted at Rs 3,700 to Rs 3,800 per quintal.
In Sillod line, the price of Cotton 30/30 plus MM variety was Rs 70,000 to Rs 70,500 per candy.
In Nagpur and Yavatmal line, 30 mm variety of cotton was priced at Rs 69,000-69,500, 29.5 mm at Rs 68,500-69,000 and 29 mm variety of cotton at Rs 68,000-68,500 per candy.
In Marathwada, Khandesh line, the price of 29 mm RD 75 variety of cotton was Rs 67,500 to Rs 68,000 per candy depending on the quality.
In Akola line mandis, the price of 29 mm variety of cotton was Rs 67,000 to Rs 67,500 and that of 28.5 plus cotton at Rs 66,000 to Rs 66,500 per candy, depending on the quality.
(By Commoditiescontrol Bureau: +91-22-40015505)
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