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

Cotton Prices Decline in Madhya Pradesh Amid Weak Demand

2 May 2024 2:11 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

New Delhi, May 2 (Commodities Control): Cotton prices in Madhya Pradesh experienced a downturn for the second consecutive day on Thursday, primarily due to weak demand from spinning mills. Additionally, the daily arrival of Kapas in the state's mandis saw a decrease.

Traders highlight that the local demand for yarn has weakened significantly, and the outlook for cotton exports appears unprofitable. Consequently, the reduced demand from the state's spinning mills has led to a decline in cotton prices. However, ginners are finding the current prices unprofitable, and with the decline in Kapas arrivals, many small ginning mills have halted production. Despite these challenges, the trend of cotton prices in the domestic market depends upon the ICE futures prices. Meanwhile, Kapas and cottonseed prices remained stable in the state.

In the domestic futures market, cotton prices showed a mixed trend today. In the April-25 futures contract on NCDEX, Kapas prices weakened by Rs 5 to Rs 1,583 per 20 kg. Conversely, cotton prices in the May-24 futures contract on MCX rose by Rs 320 to reach Rs 57,440 per candy.

The arrival of Kapas in the producer markets of the state amounted to 1,800 bales, each weighing 170 kg, which is slightly lower than the 2,000 bales recorded on the previous working day.




(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
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
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...
more
Top 5 News
Global equity/currency market update: Asian Shares Reac...
Rising Brazilian Sugar Production Pressures Global Pric...
ICE Cotton Futures Rebound as Traders Cover Shorts Ahea...
CBOT Wheat Futures Hit Two-Month Lows Amid U.S. Harvest...
Crude Oil Prices Edge Up Amid Geopolitical Tensions
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.