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Cotton Prices Hold Steady in Madhya Pradesh; Daily Arrivals Decrease

13 May 2024 3:23 pm
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New Delhi, May 13 (Commodities Control): Cotton prices remained stable in Madhya Pradesh on Monday as a result of limited demand from spinning mills, coupled with a decline in the daily arrivals of Kapas in the state's mandis.

The ongoing Lok Sabha elections in the state contributed to a decrease in cotton arrivals, and with limited quantities being traded, prices sustained their stability. Traders attribute the subdued demand for cotton yarn locally to the absence of significant price hikes in the current market conditions. Additionally, cottonseed prices maintained stability alongside Kapas in the state.

In the domestic futures market, cotton prices exhibited a mixed trend today. The April-25 futures contract for Kapas on NCDEX experienced a rise of Rs 10, reaching Rs 1,572 per 20 kg. However, during the same period, cotton prices in the May-24 futures contract on MCX weakened by Rs 260 to Rs 57,100 per candy.

The arrival of Kapas in the producer markets of the state amounted to 500 bales, with each bale weighing 170 kg, representing a decline from the previous working day's arrival of 700 bales.

(By CommoditiesControl Bureau: +91-9820130172)

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