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Cotton prices fall for 4th day in Maharashtra as offtake by spinning mills stays subdued

25 Jun 2022 6:01 pm
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NEW DELHI, June 25 (Commoditiescontrol) - Cotton prices moved lower in the mandis of Maharashtra for the fourth consecutive day on Saturday as demand from spinning mills remained weak, while daily arrivals stayed unchanged.

According to traders, as cotton prices fell sharply for the third consecutive day in the global market on Friday, demand from spinning mills remains lacklustre, which led to a further decline in the local prices. Anyway, amid tight supply of cotton, most of the small spinning mills in the state have already stopped production, and the big ones that are running are also cutting production, which has also affected the demand for cotton. However, the balance stock of cotton with the mills is less due to a fall in the production of cotton in the current season. Therefore, domestic cotton is likely to move in tandem with ICE Futures US.

As far as weather is concerned, it is inclement in the cotton growing areas of the state.

A total 3,000 bales of cotton arrived in the mandis of the state today, unchanged from a day before.

Cotton prices in the state's mandis were at Rs 10,500 - Rs 11,200 while the price of fardar quality kapas was Rs 8,500 - 9,000 and cottonseed was quoted at Rs 3,800 to Rs 4,100 per quintal. The cottonseed of fardar quality was offered at Rs 3,000 to 3,050 per quintal according to the quality.

In Sillod line, the price of Cotton 30/30 plus MM variety was Rs 96,000 to Rs 98,000 per candy.

In Nagpur and Yavatmal line, 30 mm variety of cotton was priced at Rs 94,000-95,000, 29.5 mm at Rs 93,000-94,000 and 29 mm variety of cotton at Rs 92,000 -93,000 per candy.

In Marathwada, Khandesh line, the price of 29 mm RD 75 variety of cotton was Rs 94,000 to Rs 95,500 per candy depending on the quality.

In Akola line mandis, the price of 29 mm variety of cotton was Rs 92,000 to Rs 94,000 and that of 28.5 plus cotton at Rs 91,000 to Rs 92,000 per candy, depending on the quality.

SPOT COTTON COMPLEX PRICE IN CENTRAL/SOUTH INDIA MARKET COTLOOK A INDEX 156.5 ICE COTTON JUL22 118.16
MARKET/VARIETY UNIT 24-Jun-2022 23-Jun-2022 AVERAGE %Change US cent/lb
24-Jun 23-Jun ABS CHANGE*
MH 30 mm+ (3.8-4.00 MIC) Nagpur Line (RD 75) Rs/Candy 94000-95000 96500-97500 94500 97000 -2500 -2.65 153.12-154.74
MH 29/29+mm+ (3.8-4.00 MIC) Nagpur Line (RD 75) Rs/Candy 93000-94000 95000-96000 93500 95500 -2000 -2.14 151.49-153.12
MH 29mm+ (3.8-4.00 MIC) Nagpur Line (RD 74) Rs/Candy 92000-93000 94000-95000 92500 94500 -2000 -2.16 149.86-151.49
MH 29mm+ Akola Line (3.6-3.7 MIC) (RD 75) Rs/Candy 92000-94000 96000-97000 93000 96500 -3500 -3.76 149.86-153.12
MH 28.5mm+ Akola Line (3.6-3.7 MIC) (RD 74) Rs/Candy 91000-92000 94000-95000 91500 94500 -3000 -3.28 148.23-149.86
MH 29mm Khandesh Line Line (3.5-3.7 MIC) (RD 74/75) Rs/Candy 93000-95000 95000-97500 94000 96250 -2250 -2.39 151.49-154.74
MH 29mm(RD74/75) Marathwada Line Rs/Candy 93000-95500 95000-98000 94250 96500 -2250 -2.39 151.49-155.56
Sillod line 30/30.5mm Rs/Candy 96000-98000 98000-100000 97000 99000 -2000 -2.06 156.37-159.63
USD / MT
NEW Kapas A Grade Rs/100 Kg 10500-11200 10500-11500 10850 11000 -150 -1.38 1340.91-1430.3
NEW Kapas Fardar Grade Rs/100 Kg 8500-9000 9000-9500 8750 9250 -500 -5.71 1085.5-1149.35
NEW Seed A Grade Rs/100 Kg 3800-4100 3800-4200 3950 4000 -50 -1.27 485.28-523.59
Note : USD / INR 78.305
Note: 1 candy = 355.62 kg | 1 maund = 37.3kg
*Average Change is the difference between average price of current date vs previous date



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


       
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