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Cotton prices recorded a decline in Maharashtra; daily arrivals stable

15 May 2024 3:30 pm
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New Delhi, May 15 (Commodities Control): Cotton prices weakened in Maharashtra mandis on Wednesday due to reduced purchases from spinning mills, while daily arrivals of Kapas in the state mandis remained stable.

According to traders, cotton prices have weakened due to decrease in purchases from the state's spinning mills, because on one hand, cotton prices remain weak in the world market. Secondly, local and export demand for yarn is weaker than normal, due to which spinning mills are purchasing only as per requirement. According to experts, improvement in cotton prices in the domestic market will come only when local demand for yarn increases. Kapas prices in the state weakened by Rs 100, while cottonseed prices also declined by Rs 100.

There was a declining trend in cotton prices in the domestic futures market today. Kapas prices in April-25 futures contract on NCDEX weakened by Rs 5 to Rs 1,557 per 20 kg. During this period, cotton prices in May-24 futures contract on MCX weakened by Rs 700 to Rs 55,900 per candy.

Today, the arrival of Kapas in the producer markets of the state was 17,000 bales, whereas the arrival on the previous trading day was the same number of bales.

(By CommoditiesControl Bureau: +91-9820130172)

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