New Delhi, March 26 (Commodities Control): Cotton prices in Madhya Pradesh remained steady on Tuesday, due to subdued procurement from spinning mills. Meanwhile, a decline in daily arrivals of Kapas registered across the state's mandis.
Traders highlighted that cotton prices had experienced a downturn in the state during the preceding week. However, ginners are currently grappling with unprofitable margins at these lower price levels, leading to reduced sales compared to previous periods.
With March drawing to a close, trading activities in cotton are anticipated to remain subdued this week. Concurrently, daily arrivals of Kapas in producer markets have dwindled, leaving farmers with minimal outstanding stock of Kapas. This scenario is likely to keep cotton prices range-bound, exhibiting limited bullish and bearish trends. Notably, Kapas and cottonseed prices remained stable in the state.
In the domestic futures market today, cotton prices witnessed a mixed trend. The April-24 futures contract for Kapas on NCDEX weakened by Rs 4.5 to Rs 1,536.5 per 20 kg. Conversely, cotton prices in the May-24 futures contract on MCX rose by Rs 20 to Rs 62,000 per candy during this period.
The arrival of Kapas in the state's producer markets totaled 3,000 bales, each bale weighing 170 kg, marking a decrease from the previous working day's 3,500 bales.
(605)(1).png)
(CommoditiesControl Bureau; +91-9820130172)
0 Comments 
Post Comment 
