New Delhi, June 22 (Commodities Control): Cotton prices in Maharashtra's mandis remained stable for the second consecutive day on Saturday due to limited demand from spinning mills, leading to a halt in daily arrivals of Kapas.
The weather is clear in the Kapas-producing areas of the state. According to traders, the demand for yarn is weak, and cotton export deals are being made in limited quantities. Consequently, the state's spinning mills are purchasing cotton only as needed, maintaining stable prices in the spot market. Although ICE cotton futures experienced a three-digit decline on Friday, ginning mills are facing losses at current cotton prices, resulting in reduced selling. Prices of cottonseed also remained stable in the state.
The Indian Meteorological Department (IMD) reported that Maharashtra received one percent more rainfall than normal during the period from June 1 to June 21.
Today, the arrival of cotton in the state's producing markets was reported at 13,000 bales, the same number as on the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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