login_img.jpg
Login ID:
Password:
Partner Login
Contact Us : 7066511911

Cotton Prices Surge in Maharashtra on Increased Demand; Daily Arrivals Down

22 Apr 2024 1:35 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

New Delhi, April 22 (Commodities Control): Cotton prices experienced an upward trend in Maharashtra on Monday, driven by increased demand from spinning mills, while daily arrivals of Kapas witnessed a decline in the state's mandis.

Traders point out that cotton prices in the domestic market are closely mirroring the trends in ICE cotton futures, which opened two points higher today. Consequently, buoyed by heightened purchases from the state's spinning mills, cotton prices surged in the spot market.

Experts indicate that Maharashtra's spinning mills currently hold lower cotton inventories, necessitating increased procurement. Therefore, any further rise in global market prices is likely to propel spot market prices even higher. Meanwhile, prices of Kapas and cottonseed have stabilized in the state.

In the domestic futures market, cotton prices maintained their upward trend today. On NCDEX, the price of Kapas in the April-24 futures contract rose by Rs 14 to Rs 1,445 per 20 kg. Similarly, on MCX, cotton prices surged by Rs 940 to Rs 58,900 per candy in the May-24 futures contract.

Today, the arrival of Kapas in the state's producing mandis totaled 20,000 bales, compared to 22,000 bales on the previous trading day, reflecting a decrease in daily arrivals.



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


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Post Comment  

Latest Market Commentary
ZCE COTTON AND YARN EVENING CLOSE 21 MAY 2024
ICE/ZCE Daily Rates Update ( Time: 20:13 ) - 21 MAY 20...
Major Producing States Receive 37,900 Cotton Bales
Cotton Prices Stable in Karnataka; Daily Arrivals Decre...
Cotton Prices Hold Steady in Andhra & Telangana; Daily ...
more
Top 5 News
DCE OIL COMPLEX EVENING CLOSING 21 MAY 2024
ZCE COTTON AND YARN EVENING CLOSE 21 MAY 2024
Market Wise Urad Arrivals: Supply Down By -32.95% Again...
Market Wise Tur Arrivals: Supply Down By -12.63% Agains...
Small Cardamom Prices Surge as Arrival Tops 1.0 Lakh kg...
Top 5 Special Reports
Sunflower Refined Oil (AP) Inflection Point: Trading N...
Black Matpe (Urad) SQ Chennai Trending Higher / Next R...
Weekly: ICE sugar futures under pressure as Brazilian p...
Weekly: ICE cotton prices maintain weak stance amid slo...
Jaipur Mustard Seed Signs of a Bullish Reversal / Next...
Copyright © CC Commodity Info Services LLP. All rights reserved.