Cotton Prices Decline in Maharashtra on Reduced Demand; Daily Arrivals Low

New Delhi, March 19 (Commodities Control): Cotton prices weakened in the markets of Maharashtra on Tuesday due to reduced demand from spinning mills, while a decline in daily arrivals of Kapas was recorded in the mandis of the state.

According to traders, cotton prices have declined due to weak demand from the state's spinning mills, but traders are not in favor of a big decline. According to experts, due to the consumption season, local demand for yarn will increase in the coming days while most of the small spinning mills have less outstanding stock of cotton. Therefore, mills will have to purchase cotton in April. Kapas prices remained stable in the state, while cottonseed prices weakened by Rs 50.

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 13.5 to Rs 1,567 per 20 kg. During this period, cotton prices in March-24 futures contract on MCX weakened by Rs 520 to Rs 61,000 per candy.

Today, the arrival of Kapas in the producer markets of the state was 30,000 bales, whereas the arrival on the previous trading day was 35,000 bales.



(CommoditiesControl Bureau; +91-9820130172)