Login ID:
Partner Login
Contact Us : 7066511911

Cotton Prices Hold Firm in Madhya Pradesh Amid Limited Demand; Daily Arrivals Up

30 Apr 2024 2:01 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 
New Delhi, April 30 (Commodities Control): Cotton prices in Madhya Pradesh continued their steady streak for the third consecutive working day on Tuesday, buoyed by restrained demand from spinning mills, while daily arrivals of Kapas surged in the state's mandis.

Traders observed that both local and export demand for cotton yarn are subdued compared to normal levels, resulting in spinning mills purchasing cotton only as per their immediate requirements. Consequently, prices in the spot market have maintained stability. However, ginning mills find cotton unprofitable at current price levels, largely due to their existing stock of high-priced Kapas. As a result, there is limited likelihood of a significant decline in cotton prices. Alongside Kapas, cottonseed prices have also stabilized in the state.

In the domestic futures market, cotton prices experienced a decline today. Prices in the May-24 futures contract on MCX weakened by Rs 360 to reach Rs 58,300 per candy.

The arrival of Kapas in the state's producing markets totaled 2,000 bales, with each bale weighing 170 kg, compared to the previous working day's arrival of 1,800 bales.

(By CommoditiesControl Bureau, +91-9820130172)

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

   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
ICE Cotton Futures Rebound as Traders Cover Shorts Ahea...
ZCE Cotton And Yarn Evening Closing - 18 JUNE 2024
ICE/ZCE Daily Rates Update ( Time: 20:18 ) - 18 JUNE 20...
Cotton Arrival Up in Madhya Pradesh; Cotton Candy Price...
Cotton Prices in Karnataka Remain Stable; Daily Arrival...
Top 5 News
Battery Metal 18 Jun 2024
Minor Metals 18 Jun 2024
NCDEX Stock position of commodities at NCCL approved wa...
CBOT Soyoil Prices Climb Amid Tightened US Stocks and R...
Global equity/currency market update: Asian Shares Reac...
Top 5 Special Reports
Weekly: ICE Sugar Futures Revived By ISO's Global Defic...
Weekly: Cotton Prices Slide for Third Consecutive Week ...
India Plans Boost in Arhar and Urad Dal Production to T...
US soybean net sales for May 31-June 6 at 377,100 MT, u...
US cotton net export sales for May 31-June 6 at 177,100...
Copyright © CC Commodity Info Services LLP. All rights reserved.