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Maharashtra: Cotton prices down amid subdued demand, increased arrivals

21 Jan 2022 1:52 pm
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Mumbai, 21 January (Commoditiescontrol): Cotton prices were down in the markets of Maharashtra on Friday amid subdued demand from spinning mills, while daily arrivals saw an increase. Cotton prices had increased in the mandis of the state for the last three days.

As per the traders, cotton prices dropped today mmdue to a lack of demand from spinning mills in the state, despite the fact that the quality of cotton in the state is very good this season. So, mills from other states and South India are sourcing cotton from the mandis of the state. Therefore, a significant drop is unlikely in cotton prices in the domestic market. While, Cotton prices have decreased in the global market. According to experts, the arrival of the kapas in the mandis of the state has decreased since October 1 this season, resulting in a lower outstanding/opening hustock with the mills than last year.

On NCDEX, the April'22 futures kapas contract rose by 0.05 percent, while the February futures cotton contract on MCX fell by Rs 290 to Rs 36,450 per bale (1 bale – 170 kg).

Today the market arrivals of kapas were reported at 50,000 bales vs 45,000 bales in the last trading session. The weather is clear in the kapas producing areas of the state.

The price of kapas was Rs 9,200 to Rs 10,200 and cottonseed was quoted at Rs 3,400 to Rs 4000 per quintal according to the quality.

In Nagpur and Yavatmal line, 30 mm variety of cotton is priced at Rs 78,000 to 78,500, 29.5 mm is Rs 77,000 to 77,500 and 29 mm variety of cotton is Rs 76,000 to 76,500 per candy.

In Jalgaon-Khanden line, 29mm RD 75 variety of cotton was priced at Rs 75,000 76,000 per candy as per the quality.

In Akola line, the price of 29 mm variety of cotton was Rs 75,500 to 75,700 and 28.5 plus cotton was priced at Rs 74,000 to 74,500 per candy.

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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