New Delhi, May 21 (Commodities Control): Cotton prices in the markets of Maharashtra remained stable for the fifth consecutive trading day on Tuesday due to limited demand from spinning mills, while an increase in daily arrivals of Kapas was recorded.
Traders report that the recent decline in cotton prices in the international market has led to increased selling by multinational companies in the domestic market. Additionally, the demand for yarn and cotton remains weak, prompting spinning mills in the state to purchase only as per their requirements.
Experts suggest that ginning mills are experiencing financial disparities at current cotton prices, possibly leading to higher-than-expected outstanding stock levels. Consequently, Kapas and cottonseed prices have also stabilized in the state.
The domestic futures market showed a mixed trend today. Kapas prices in the April-25 futures contract on NCDEX rose by Rs 15.5 to Rs 1,590 per 20 kg, while cotton prices in the May-24 futures contract on MCX weakened by Rs 300 to Rs 55,800 per candy.
The arrival of Kapas in Maharashtra's producer markets increased significantly, with 25,000 bales reported today compared to 17,000 bales on the previous trading day.
(482)(1).png)
(By CommoditiesControl Bureau: +91-9820130172)
0 Comments 
Post Comment 
