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Cotton Prices Hold Steady in Madhya Pradesh; Daily Arrival Decline

4 May 2024 2:56 pm
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New Delhi, May 4 (Commodities Control): Cotton prices remained unchanged for the second consecutive day in Madhya Pradesh on Saturday, as spinning mills exhibited limited demand, while a decline in daily arrivals of Kapas was observed in the state's mandis.

Traders noted a reduction in both local and export demand for yarn compared to previous levels, leading spinning mills in the state to procure cotton only as needed. Consequently, cotton prices remained stable in the spot market for the second consecutive day.

Despite this, ginning mills are reportedly facing profitability challenges at current cotton price levels. However, the trend of domestic cotton prices continues to be influenced by ICE futures prices. Cottonseed prices remained stable alongside Kapas in the state.

Arrivals of Kapas in the state's producer markets totaled 1,600 bales, with each bale weighing 170 kg, compared to 1,800 bales on the previous working day.




(By Commoditiescontrol Bureau: +91-9820130172)


       
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