Indore, May 11 (Commodities Control): Cotton candy prices have experienced a notable decline of Rs 100 in Madhya Pradesh, amid weak arrivals of cotton and a downturn in demand.
Today, in the state, the price of 29 mm 75 RD cotton witnessed a decline of Rs 100, ranging from Rs 57,000 to Rs 57,500 per candy, each candy weighing 356 kg. Meanwhile, the price of 28.5 mm cotton is being quoted at Rs 56,400-56,800 per candy.
Brokers suggest that the decline in cotton candy prices can be attributed to better crop prospects in Australia. However, despite this, demand for Indian cotton remains robust in countries like Bangladesh and Vietnam.
Moreover, Kapas and cottonseed prices also remained stable in the state. The arrival of Kapas in the producer mandis of the state saw an improvement, with 700 bales recorded today, each weighing 170 kg. This marks an increase from the 600 bales recorded on the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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