Cotton Prices Weaken in Maharashtra Amid Reduced Buying

New Delhi, June 13 (Commodities Control): Cotton prices in Maharashtra's mandis weakened on Thursday due to reduced purchases by spinning mills, while the daily arrivals of Kapas remained stable.

The weather in the cotton-producing regions of the state is clear. Traders reported a decline in both local and export demand for yarn, contributing to the softening of cotton prices in the spot market. Despite most spinning mills in the state having lower outstanding stocks of cotton, ginners are holding significant inventory. As a result, any improvement in cotton prices will likely depend on a resurgence in local yarn demand. Alongside Kapas, cottonseed prices have also stabilized.

In contrast, the domestic futures market showed an upward trend for cotton prices today. On NCDEX, the April-25 futures contract for Kapas increased by Rs 0.5 to Rs 1,574 per 20 kg. Meanwhile, on MCX, the July-24 futures contract for cotton rose by Rs 140 to Rs 57,040 per candy.

Today's arrivals of Kapas in Maharashtra's producing markets totaled 13,000 bales, consistent with the previous trading day's figures.



(By CommoditiesControl Bureau: +91-9820130172)