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Cotton holds steady in Maharashtra as spinning mills shorten buying

26 May 2022 3:35 pm
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NEW DELHI, May 26 (Commoditiescontrol) - Cotton prices held steady in the mandis of Maharashtra on Thursday due to limited buying from spinning mills, while daily arrivals were reported lower.

The weather is clear in cotton producing areas of the state. According to traders, the proportion in which cotton prices have increased in the domestic market recently, the prices of yarn could not climb accordingly, due to which the mills of the state are not getting parity. Hence, at present spinning mills are procuring cotton only as per the requirement. However, the balance stock of cotton with the mills of the state is less than last year and the new crop will start arriving only in October. While there is still time for the new crop to come. Therefore, the prices of cotton in the spot market will come down gradually.

A mixed trend was seen in cotton and kapas prices in the domestic futures market today with April'23 futures contract of kapas on the NCDEX edged down by 0.11 percent. While the May month cotton contract on the MCX gained by Rs 90 at Rs 48,290 per bale (1 bale -170 kg).

A total 5,000 bales (1 bale-170 kg) of cotton arrived in the mandis of the state today, down from 5,500 bales a day before.

Cotton prices in the state's mandis were at Rs 12,000 to 13,000, while the price of fardar quality kapas was Rs 9,500 to Rs 10,500 and cottonseed was quoted at Rs 3,800 to Rs 4,250 per quintal.

In Sillod line, the price of Cotton 30/30 plus MM variety was Rs 1,04,000 to Rs 1,06,000 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 1,05,000 to 1,06,000 and 29 mm variety of cotton at Rs 1,04,000 to 1,05,000 per candy.

In Marathwada, Khandesh line, the price of 29 mm RD 75 variety of cotton was Rs 99,000 to Rs 1,02,000 per candy depending on the quality.

In Akola line mandis, the price of 29 mm variety of cotton was Rs 1,03,000 to Rs 1,04,000 and that of 28.5 plus cotton at Rs 98,000 to Rs 1,01,000 per candy, depending on the quality.

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

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