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Limited buying keeps cotton steady in Madhya Pradesh

28 May 2022 6:10 pm
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NEW DELHI, May 28 (Commoditiescontrol) - Cotton prices stayed unchanged in the mandis of Madhya Pradesh for the third straight day on Saturday due to limited buying by spinning mills, while daily arrivals improved.

According to traders, the prices in the spot market have remained almost stable as the mills are buying cotton in the domestic market only in limited quantities, while the arrival of cotton in the mandis is also decreasing as compared to normal. However, further softening of cotton prices is likely as mills are facing disparity in buying cotton at current prices due to non-increasing price of yarn. According to experts, the quality of cotton that is coming into the mandis of the state at this time is very low, and the ginners are also not selling the bales by reducing the price. As far as weather is concerned it is clear in the cotton producing areas of the state.

The arrival of cotton in the mandis of Madhya Pradesh stood at 400 bales (1 bale-170 kg), down from 500 bales a day before.

Cotton prices in the state's mandis ranged between Rs 9,500-12,000 per quintal, while cottonseed was quoted at Rs 3,600 to 4,000 per quintal.

In the state mandis, the price of 29 mm 75 RD variety of cotton was Rs 1,04,000 -1,05,000 per candy (one candy-356 kg), while the cost of 74 RD variety of cotton was Rs 1,02,000-1,04,000 per candy and 73 RD variety of cotton at Rs 1,01,000 to 1,02,000. The price of 72 RD variety of cotton was offered at Rs 1,00,000 to 1,01,000 per candy.

The price of 72RD variety of cotton in 28 mm was Rs 95,000 to 96,000 per candy and the price of 70 RD variety cotton was Rs 94,000 to 94,500 per candy.

The price of 68 RD variety of cotton in 27mm was Rs 86,000 to Rs 87,000 per candy and that of 65 RD variety was Rs 82,000 - Rs 85,000 per candy.

The price of 30 mm 75 RD variety of cotton in the state ranged from Rs 1,08,000 to Rs 1,10,000 per candy.

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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