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Madhya Pradesh Mandis See Increased Arrival of Kapas; Prices Remain Stable

17 May 2024 1:59 pm
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Indore, May 17 (Commodities Control): The arrival of Kapas in the mandis of Madhya Pradesh increased on Friday. The arrival volume rose by 200 bales compared to Thursday, reaching a total of 1,000 to 1,200 bales, each bale weighing 170 kg.

Despite this increase in arrivals, cotton prices remained stable. The average price of Kapas in the state held steady at Rs 6,300 to Rs 7,400 per quintal, while cottonseed prices also remained stable, ranging from Rs 2,750 to Rs 3,000 per quintal.

Cotton candy prices in the state remained unchanged as well. On Friday, the price of 29 mm 75 RD cotton stood firm at Rs 56,500 to Rs 57,000 per candy, each candy weighing 356 kg, and the price of 28.5 mm cotton was stable at Rs 55,900 to Rs 56,300 per candy. Notably, cotton candy prices have decreased by Rs 600 over the last three trading sessions.

Millers in Madhya Pradesh have indicated that there is a steady demand for Indian Kapas from countries like Bangladesh and Vietnam, contributing to the stability in cotton candy prices. However, there is a reported decline in global demand for yarn.

Moreover, the International Cotton Advisory Committee (ICAC) has projected a significant decline of about 31 percent in Kapas stocks for the 2023-24 period, due to low production and increased consumption in India. This decrease would bring Kapas stocks to their lowest levels in the past three decades.

Arrival of Kapas in Various Markets of Madhya Pradesh Until Friday Afternoon:
- Khetiya: Arrival of 60 quintals; Price – Rs 6,400 to Rs 7,585 per quintal.
- Kukshi: Arrival of 39 quintals; Price – Rs 6,350 to Rs 7,300 per quintal.
- Jobat: Arrival of 8 quintals; Price – Rs 6,775 to Rs 6,900 per quintal.
- Khandwa: Arrival of 6 quintals; Price – Rs 5,900 to Rs 6,951 per quintal.
- Khargone: Arrival of 3 quintals; Price – Rs 5,780 to Rs 7,386 per quintal.
- Sendhwa: Arrival of 2 quintals; Price – Rs 5,000 to Rs 6,050 per quintal.



(By CommoditiesControl Bureau: +91-9820130172)


       
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