New Delhi, July 5 (Commodities Control): Cotton prices remained stable in Maharashtra mandis on Friday due to limited purchases by spinning mills, while daily arrivals of Kapas were recorded to be low in the state's mandis.
The state's spinning mills are currently buying cotton only as per their requirement, because the local and export demand for yarn is weak. The small spinning mills of the state have less outstanding stock of cotton, but the warehouses of ginning mills are full of cotton. Therefore, the rise in cotton prices in the domestic market will come only when the local demand for yarn increases. Along with Kapas, the prices of cottonseed also became stable.
There was a downward trend in the prices of cotton in the domestic futures market today. The prices of Kapas in the April-25 futures contract on NCDEX weakened by Rs 3.5 to Rs 1,596.5 per 20 kg.
Today, the arrival of Kapas in the state's producing markets was 10,000 bales, whereas in the previous trading day the arrival was of 11,000 bales.
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(By CommoditiesControl Bureau: +91-9820130172)
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