New Delhi, May 23 (Commodities Control): Cotton prices increased in Maharashtra on Thursday due to improved demand from spinning mills, while a decline in the daily arrivals of Kapas was recorded in the state's mandis.
Traders reported that cotton prices in the state rose due to the increased demand from spinning mills. However, ginners are facing disparity in these prices, leading to reduced sales from ginning mills. Despite the recent decline in global cotton prices, exports remain unaffected, and local demand for yarn is weaker than usual. As a result, the movement of cotton prices in the domestic market will largely depend on global market trends. Meanwhile, cottonseed prices have stabilized along with Kapas in the state.
In the domestic futures market, there was a mixed trend in cotton prices today. The April-25 futures contract on NCDEX saw Kapas prices weaken by Rs 1.5 to Rs 1,599.5 per 20 kg. Conversely, the May-24 futures contract on MCX saw cotton prices rise by Rs 220, reaching Rs 56,200 per candy.
Today, the arrival of Kapas in the producer markets of the state was 17,000 bales, compared to 22,000 bales on the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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