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Cotton Prices Stable in Maharashtra as Spinning Mills Limit Purchases; Daily Arrivals Decline

14 May 2024 2:24 pm
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New Delhi, May 14 (Commodities Control): Cotton prices remained unchanged in Maharashtra for the second consecutive day on Tuesday, attributed to limited purchases from spinning mills. Additionally, a decrease in the daily arrivals of Kapas was observed in the state's mandis.

Traders indicated that both local and export demand for yarn is currently weaker than usual, prompting spinning mills to procure cotton in limited quantities. Despite this, farmers in the state still hold outstanding stocks of Kapas, and arrivals are expected to continue until the end of June. Consequently, any notable increase in cotton prices is anticipated only when there is a surge in local demand for yarn. Alongside Kapas, cottonseed prices also remained stable in the state.

In the domestic futures market, there was a downward trend observed in cotton prices today. Kapas prices in the April-25 futures contract on the NCDEX weakened by Rs 7.5 to Rs 1,562 per 20 kg.

Today, the arrival of Kapas in the producer markets of the state amounted to 17,000 bales, compared to 20,000 bales on the previous trading day.



(By CommoditiesControl Bureau: +91-9820130172)


       
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