Cotton stays unchanged in Maharashtra on limited buying

NEW DELHI, May 19 (Commoditiescontrol) - Cotton prices stayed unchanged in the mandis of Maharashtra for the second consecutive day on Thursday due to limited buying from spinning mills, while daily arrivals remained steady.

The weather is clear in cotton producing areas of the state. According to traders, the prices of cotton have come down in the global market for the last two days, due to which the prices stayed flat in the state due to less purchase of mills in the domestic market. Although the balance stock of cotton with the spinning mills of the state is less than last year, the arrival of the new crop of cotton in the state's mandis will start in October. At present, the quality of the cotton which is coming to the mandis is also low, so there is no expectation of a major fall in the cotton prices in the market right now.

A downtrend was seen in cotton and kapas prices in the domestic futures market today afternoon with April'23 futures contract of kapas on the NCDEX edged down by 0.05 percent. The May month cotton contract on the MCX also slipped by Rs 90 at Rs 48,980 per bale (1 bale -170 kg).

A total 6,000 bales (1 bale-170 kg) of cotton arrived in the mandis of the state today, unchanged from a day ago.

Cotton prices in the state's mandis were at Rs 11,000 to 13,400, while the price of fardar quality kapas was Rs 8,000 to Rs 11,000 and cottonseed was quoted at Rs 3,800 to Rs 4,400 per quintal.

In Sillod line, the price of Cotton 30/30 plus MM variety was Rs 1,07,000 to Rs 1,09,000 per candy.

In Nagpur and Yavatmal line, 30 mm variety of cotton was priced at Rs 1,07,000-1,08,000, 29.5 mm at Rs 1,05,500 to 1,07,000 and 29 mm variety of cotton at Rs 1,03,000 to 1,05,000 per candy.

In Marathwada, Khandesh line, the price of 29 mm RD 75 variety of cotton was Rs 1,01,000 to Rs 1,04,000 per candy depending on the quality.

In Akola line mandis, the price of 29 mm variety of cotton was Rs 1,04,500 to Rs 1,05,500 and that of 28.5 plus cotton at Rs 99,000 to Rs 1,03,000 per candy, depending on the quality.

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