Cotton Prices Surge in Maharashtra Amid Increased Purchases; Daily Arrivals Up

New Delhi, March 12 (Commodities Control): Cotton prices in Maharashtra experienced a notable surge on Tuesday, driven by increased purchases from spinning mills and a significant rise in the daily arrivals of Kapas in the state's mandis.

Traders attribute the price hike to the global market, where cotton prices have opened at elevated levels. Domestically, cotton prices are tracking the ICE futures prices closely. The increased procurement from spinning mills is cited as a key factor behind the strengthening of cotton prices in Maharashtra.

Industry experts anticipate a positive trend for cotton export deals, coupled with a surge in local demand for cotton yarn in the coming days. As a result, cotton prices are expected to remain robust in the spot market. Meanwhile, Kapas prices maintained stability, while cottonseed prices experienced a Rs 100 decline.

In the domestic futures market, there was a mixed trend in cotton prices today. The April-24 futures contract on NCDEX witnessed a Rs 9 decline in Kapas prices, settling at Rs 1,640 per 20 kg. Conversely, the March-24 futures contract on MCX saw a Rs 20 increase in cotton prices, reaching Rs 62,660 per candy.

Today's market activity in Maharashtra revealed a substantial increase in the arrival of Kapas, with 30,000 bales recorded in producer mandis across the state. This marks a notable uptick from the previous trading day, where 25,000 bales were reported.



(By CommoditiesControl Bureau; +91-9820130172)