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Cotton Market in in Maharashtra Maintain Stability Amid Limited Buying

10 May 2024 3:49 pm
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New Delhi, May 10 (Commodities Control): Cotton prices in Maharashtra stabilized on Friday as a result of limited purchases from spinning mills, while the daily arrival of Kapas in the state's mandis also remained unchanged.

Traders reported that despite an increase in cotton prices on Thursday, stability ensued due to reduced purchases from spinning mills in response to the increased prices. Experts noted that both the export demand for cotton and yarn remained weak, and ginners were reluctant to lower cotton prices. Consequently, the spot market may witness only marginal fluctuations in cotton prices. Alongside Kapas, cottonseed prices also remained stable in the state.

In the domestic futures market, cotton prices experienced a declining trend. Kapas prices in the April-25 futures contract on NCDEX weakened by Rs 1.5 to Rs 1,561 per 20 kg. Similarly, cotton prices in the May-24 futures contract on MCX decreased by Rs 120 to Rs 57,300 per candy.

The arrival of Kapas in the producer markets of Maharashtra today totaled 20,000 bales, a figure consistent with the previous trading day.




(By CommoditiesControl Bureau: +91-9820130172)

       
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