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Cotton Candy and Kapas Prices Stable in Madhya Pradesh; Arrivals Increased

14 May 2024 1:51 pm
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Indore, May 14 (Commodities Control): Cotton prices maintained stability for the second consecutive day in Madhya Pradesh on Tuesday, primarily due to subdued demand from spinning mills. Concurrently, the daily arrivals of Kapas surged in the state's mandis.

Following the Lok Sabha elections on Monday, an uptick of 400 to 500 bales was observed in cotton arrivals in the Malwa-Nemar mandis on Tuesday.

The arrival of Kapas in Madhya Pradesh's mandis is reported to be between 800 to 1000 bales, with each bale weighing 170 kg. Only 400 to 500 bales had arrived on Monday. The average price of Kapas in the state remained stable, ranging from Rs 6300 to Rs 7400 per quintal. Similarly, cottonseed prices remained steady at Rs 2700 to Rs 2950.

Traders noted that farmers in the state possess only a limited amount of outstanding stock, while stockists are encountering losses at current price levels. Recent declines in global cotton prices have resulted in narrower margins for exports from the domestic market. Moreover, local demand for cotton yarn is stagnating, thereby dampening the prospects for a significant increase in cotton prices.

Arrivals of Kapas in the state's mandis till Tuesday afternoon:
- Gandhwani: Incoming 1418 quintals; Price Rs 7500 per quintal.
- Khetiya: Arrival 37 quintals; Price Rs 6055 to Rs 7630 per quintal.
- Kukshi: Arrival 28 quintals; Price Rs 6500 to Rs 7000 per quintal.
- Sendhwa: Arrival 7 quintals; Price Rs 5700 to Rs 6571 per quintal.

(By CommoditiesControl Bureau: +91-9820130172)

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