Cotton Prices Stable in Maharashtra Amid Spinning Mills Limited Purchases

New Delhi, March 11 (Commodities Control): Cotton prices in Maharashtra remained stable for the second consecutive day on Monday, owing to limited purchases from spinning mills. Meanwhile, the mandis in the state witnessed an increase in daily arrivals of Kapas.

According to traders, today there has been an increase in the daily arrivals of Kapas in the mandis of the state, but now only limited quantity of stock is left with the farmers. In such a situation, there will be a decrease in the daily arrivals of Kapas in the coming days. If cotton prices remain high in the world market, export deals from the domestic market will increase. Besides, local and export demand for yarn will also increase in the coming days. In such a situation, the rise or fall in cotton prices in the domestic market will largely depend on the world market prices. Along with Kapas, cottonseed prices became stable in the state.

In the domestic futures market, there was a mixed trend in cotton prices today. The April-24 futures contract on the NCDEX saw Kapas prices rise by Rs 3 to reach Rs 1,652 per 20 kg. Conversely, the March-24 futures contract on the MCX recorded a weakening of Rs 20, bringing cotton prices down to Rs 62,680 per candy.

Today's Kapas arrivals in the producer markets of the state amounted to 25,000 bales, marking an increase from the 20,000 bales recorded on the previous trading day.



(By CommoditiesControl Bureau; +91-9820130172)