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Cotton Prices Steady in Maharashtra; Daily Arrival Steady

27 Apr 2024 2:38 pm
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New Delhi, April 27 (Commodities Control): Cotton prices maintained stability for the third consecutive day on Saturday in Maharashtra, attributed to subdued demand from spinning mills, while daily arrivals of Kapas in the state's mandis remained unchanged.

Traders noted that despite a robust export demand for cotton from the country until the end of March, the recent slowdown in cotton prices in the global market over the past two weeks has led to reduced profit margins for exporters. Consequently, export deals have decreased, prompting mills in the state to refrain from increasing their inventory.

As a result, cotton prices in the spot market have remained steady for the last three days. However, the remaining outstanding stock of Kapas in the state is limited, necessitating mills to procure cotton. Therefore, there is little possibility of a significant decline in cotton prices in the spot market. Consequently, prices of cottonseed, along with Kapas, have stabilized in the state.

Today, the arrival of Kapas in the state's producing markets totaled 15,000 bales, matching the previous trading day's arrivals.

(By Commoditiescontrol Bureau: +91-9820130172)

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