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Cotton Firm In Madhya Pradesh On Demand From South India

19 Oct 2019 5:18 pm
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MUMBAI (Commoditiescontrol) - Cotton prices moved higher by Rs 100-150 per candy at major mandis in Madhya Pradesh on Saturday amid demand from South India.

Today around 6,500 bales of cotton arrived in the state. The price of kapas here is being quoted at Rs 4,000-5,700/quintal and cotton seed at Rs 2,900-3,200/quintal.

According to the Cotton Corporation of India (CCI), around 85,630 bales of cotton have arrived in the state till October 16.

The price of cotton 29MM was at Rs 38,900-39,500 per candy.

Traders said, there is good demand from local as well as mills of South India.

According to preliminary estimates of the Ministry of Agriculture, the country is expected to produce 322.67 lakh bales of cotton this year. Although the market expects this figure to be 375-400 lakh bales. Out of which about 22 lakh bales can be produced in Madhya Pradesh.


       
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