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Cotton Prices Hold Steady in Madhya Pradesh; Daily Arrivals Unchanged

7 May 2024 1:21 pm
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New Delhi, May 7 (Commodities Control): Cotton prices remained static for the fourth consecutive trading day in Madhya Pradesh on Tuesday, reflecting limited demand from spinning mills, while the daily arrival of Kapas in the state's mandis also remained stable.

With voting underway today for seven Lok Sabha seats in the state, business activities have noticeably decreased. Traders observed minimal fluctuations in cotton prices in the global market over the past two days, prompting a cautious approach from domestic spinning mills.

Experts attribute this to weaker-than-normal local and export demand for cotton yarn, prompting spinning mills to procure cotton solely based on immediate requirements. Concurrently, cottonseed prices stabilized alongside Kapas in the state.

In the domestic futures market, cotton prices witnessed a declining trend today, with Kapas prices in April-25 futures contracts on NCDEX experiencing a dip of Rs 5.5 to Rs 1,577 per 20 kg.

The arrival of Kapas in the state's producer markets totaled 1,800 bales, with each bale weighing 170 kg, matchng the previous trading day's arrival.

(By CommoditiesControl Bureau: +91-9820130172)

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