New Delhi, March 26 (Commodities Control): Cotton prices in Maharashtra remained unchanged for the second consecutive working day on Tuesday, as limited demand from spinning mills persisted. Moreover, stability in the daily arrival of Kapas noted in the state's mandis.
Traders noted that spinning mills in the state are currently procuring cotton only as per their immediate requirements, primarily due to festival holidays impeding their full production capacity utilization.
On the other hand, ginning mills are hesitant to lower prices for cotton sales, as they acquired Kapas from farmers at relatively higher prices. With the onset of the consumption season, local demand for cotton yarn is anticipated to surge in the forthcoming days. Consequently, it is projected that mills will need to procure cotton in April, potentially driving prices up. Kapas and cottonseed prices remained stable within the state.
In the domestic futures market today, cotton prices displayed 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 stood at 25,000 bales today, matching the previous trading day's figures.
(471)(1).png)
(CommoditiesControl Bureau; +91-9820130172)
0 Comments 
Post Comment 
