New Delhi, May 1 (Commodities Control) Cotton prices declined in Madhya Pradesh on Wednesday due to weak demand from spinning mills, while the daily arrival of Kapas stood steady in the mandis of the state.
According to traders, due to fall in cotton prices in the foreign market, purchases from spinning mills in the domestic market decreased. Due to which the prices have slowed down. Anyway, local and export demand for cotton yarn is weaker than normal.
However, ginning mills are not finding it profitable at the current cotton prices as ginners have to trade with limited margins at these prices. Despite this, the rise or fall in cotton prices will depend on the prices of ICE futures. Cottonseed prices stabilized with Kapas in the state.
The arrival of Kapas in the producer markets of the state was 2,000 bales, one bale of which was 170 kg, whereas the arrival on the previous trading day remained the same.
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(By Commoditiescontrol Bureau: +91-9820130172)
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