New Delhi, May 4 (Commodities Control): Cotton prices in Maharashtra surged on Saturday due to increased purchases from spinning mills, coupled with a decrease in daily arrivals of Kapas in the state's mandis.
Traders reported a spike in cotton prices in the international market on Friday, prompting increased purchases from spinning mills in the domestic market. Despite weak export demand for both cotton and yarn, most small spinning mills in the state maintain low outstanding stocks of cotton. Consequently, while the market anticipates stability, there are no significant expectations for a substantial rise in domestic cotton prices. Prices for both Kapas and cottonseed stabilized in the state.
Arrivals of Kapas in the state's producer markets totaled 18,000 bales, down from 20,000 bales on the previous trading day.
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(By Commoditiescontrol Bureau: +91-9820130172)
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