New Delhi, March 12 (Commodities Control): Cotton prices in Madhya Pradesh experienced an increase on Tuesday. This rise is attributed to higher demand from spinning mills and decreased daily kapas arrivals at the state's mandis. Traders anticipate further price increases in the domestic market due to low cotton stocks in spinning mills and steady demand for yarn both locally and for export.
Kapas prices gained Rs 100/quintal, while cottonseed prices held steady.
Cotton futures showed mixed results in the domestic market. The April 24 futures contract for kapas on the NCDEX saw a decline of Rs 12 to Rs 1,637 per 20 kg. In contrast, the March 24 cotton futures contract on the MCX experienced a Rs 20 increase, closing at Rs 62,660 per candy.
The arrival of new kapas in the state's mandis totaled 4,500 bales (one bale - 170 kg), a decrease from the previous working day's arrival of 5,000 bales.
(By Commoditiescontrol Bureau; +91-9820130172)
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