New Delhi, December 09 (Commodities Control): Cotton prices in Maharashtra decreased on Monday, driven by reduced purchases by spinning mills, while daily arrivals of Kapas also saw a decline in the state's mandis.
Traders noted that recent declines in global cotton prices have made exports less profitable, while cheaper imports have further pressured the domestic market. As a result, spinning mills in Maharashtra are not actively increasing their inventory.
Furthermore, farmers in the state are holding back good-quality Kapas, which has limited market activity. This is expected to result in only minor fluctuations in cotton prices in the short term. Alongside cotton, cottonseed prices have also stabilized in the state.
In the domestic futures market, cotton prices followed a downward trend. The price of Kapas in the April-25 futures contract on NCDEX dropped by Rs 8, settling at Rs 1,524 per 20 kg. On the MCX, the price of cotton in the November-24 futures contract weakened by Rs 370, to Rs 55,290 per candy.
Today, the arrival of Kapas in Maharashtra's producer markets was recorded at 31,000 bales, a decrease from the 33,000 bales that arrived on the previous trading day.
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(CommoditiesControl Bureau; +91-9820130172)
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