New Delhi, April 27 (Commodities Control): Cotton prices remained stable in Madhya Pradesh on Saturday, largely due to limited demand from spinning mills, while daily arrivals of Kapas remained unchanged in the state's mandis.
Traders noted that spinning mills in the state are currently procuring cotton solely based on their immediate requirements, as the local demand for yarn has not exhibited the anticipated growth. Consequently, cotton prices stabilized in the spot market. Recent deceleration in cotton prices in the global market has led to decreased profit margins for exporters.
However, most ginning mills in the state possess minimal outstanding stock of cotton. Thus, the likelihood of a significant one-sided drop in current cotton prices is minimal. Similarly, the prices of cottonseed and Kapas have also stabilized in the state.
The arrival of Kapas in the state's producing mandis amounted to 1,800 bales (one bale equals 170 kg), matching the previous day's arrivals.
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(By Commoditiescontrol Bureau: +91-9820130172)
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