New Delhi, March 11 (Commodities Control): Cotton prices remained stagnant for the second consecutive working day in Madhya Pradesh on Monday due to limited demand from spinning mills. Meanwhile, daily arrivals of Kapas increased in the state's mandis.
Traders report that mills in the state are currently making limited purchases of cotton, leading to price stability in the spot market. However, despite the present stagnation, the outstanding stock of cotton with the state's spinning mills is relatively low. The equilibrium between local and export demand for yarn is expected to contribute to a potential rise in cotton prices in the domestic market. Meanwhile, Kapas and cottonseed prices remained stable in the state.
In the domestic futures market, there was a mixed trend. Kapas prices in the April-24 futures contract on NCDEX rose by Rs 6 to Rs 1,655 per 20 kg. Conversely, cotton prices in the March-24 futures contract on MCX weakened by Rs 100 to Rs 62,600 per candy.
Today's arrival of Kapas in the producer markets of the state reached 5,000 bales, with each bale weighing 170 kg. This marked an increase from the previous working day's arrival of 3,500 bales.
(593) (1).png)
(By CommoditiesControl Bureau; +91-9820130172)
0 Comments 
Post Comment 
