New Delhi, April 8 (Commodities Control): Cotton prices rose in Maharashtra on Monday due to increased purchases from spinning mills, while daily arrivals of Kapas remained stable in the state mandis.
According to traders, there was a decline in cotton prices in the state last week, hence due to increase in purchasing from spinning mills at lower prices, cotton prices increased. According to experts, the outstanding stock of cotton in most of the spinning mills of the state is less, while the daily arrivals of Kapas will decrease in the coming days. Local demand for yarn will remain intact, hence mills will have to purchase cotton. Along with Kapas, cottonseed prices became stable in the state.
There was an upward trend in cotton prices in the domestic futures market today. Kapas prices in April-24 futures contract on NCDEX rose by Rs 0.5 to Rs 1,521 per 20 kg. During this period, cotton prices rose by Rs 220 to Rs 61,800 per candy in the May-24 futures contract on MCX.
Today the arrival of Kapas in the producer mandis of the state was 25,000 bales, whereas the arrival on the previous trading day was the same number of bales.
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(CommoditiesControl Bureau; +91-9820130172)
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