New Delhi, May 11 (Commodities Control): Cotton prices witnessed a softening trend in the markets of Maharashtra on Saturday, attributed to reduced purchases from spinning mills, coupled with a decline in the daily arrivals of Kapas in the state's mandis.
Traders note that cotton prices have experienced a decline of about three to four cents in the world market over the last two days, leading to reduced purchases from spinning mills in the state. Consequently, cotton prices have witnessed a decline in the spot market.
Additionally, experts highlight that the local demand for yarn has failed to pick up as expected, while the margins of cotton exporters have also decreased. Given these factors, the likelihood of a significant rise in cotton prices in the spot market remains slim. However, both Kapas and cotton prices have stabilized in the state.
Today, the arrival of Kapas in the producer markets of the state stood at 18,000 bales, marking a decrease from the 20,000 bales recorded on the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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