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Cotton Prices Remain Unchanged in Madhya Pradesh; Daily Arrivals Steady

1 Mar 2024 1:10 pm
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New Delhi, March 01 (Commodities Control): Cotton prices remained unchanged for the second consecutive day in Madhya Pradesh on Friday due to limited purchases from spinning mills, while the daily arrival of Kapas in the mandis of the state remained stable.

According to traders, there was a decline in cotton prices in the world market on Thursday, due to which its prices stopped due to limited demand from the state's spinning mills. However, the outstanding stock of cotton with the spinning mills of the state is less, while the stockists are not selling by reducing the price.

Anyway, only limited quantity of Kapas stock is left with the farmers of the state, hence the daily arrivals of Kapas will reduce in the coming days. In such a situation, cotton prices are expected to improve further in the spot market. Along with Kapas, cottonseed prices became stable in the state.

There was a declining trend in cotton prices in the domestic futures market today. Kapas prices in April-24 futures contract on NCDEX weakened by Rs 3.5 to Rs 1,650.5 per 20 kg. During this period, cotton prices in March-24 futures contract on MCX weakened by Rs 220 to Rs 61,720 per candy.

The arrival of Kapas in the producer markets of the state was 5,500 bales, one bale of which was 170 kg, whereas the arrival on the previous working day was the same number of bales.



(By CommoditiesControl Bureau; +91-9820130172)


       
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