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Cotton stays flat in Maharashtra amid cautious demand

10 Aug 2022 2:55 pm
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NEW DELHI, Aug 10 (Commoditiescontrol) - Cotton prices ruled steady in the mandis of Maharashtra for the second consecutive day on Wednesday amid limited demand from spinning mills, while daily arrivals remained unchanged.

The weather remained inclement in the cotton growing areas of the state, with several areas have received rain. According to traders, the balance stock of cotton with the spinning mills of the state is less than last year, but due to weak local and export demand in the yarn, the mills are not getting parity. Therefore, cotton prices in the spot market have remained stable. The proportion in which cotton prices have climbed in the domestic market recently, the prices of yarn could not increase. Anyway, new cotton will arrive in the state's mandis only in September-October. Therefore, there is no possibility of a major fall in cotton prices in the spot market right now.

An uptrend 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 higher by 0.27 percent. The August month cotton contract on the MCX also climbed by Rs 320 at Rs 48,650 per bale (1 bale -170 kg).

A total 200 bales of 170 kgs each 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 10,000 - Rs 11,000 while the price of fardar quality kapas was Rs 8,000 - 9,000 and cottonseed was quoted at Rs 3,400 to Rs 4,200 per quintal.

In Sillod line, the price of Cotton 30/30 plus MM variety was Rs 99,000 to Rs 1,00,000 per candy.

In Nagpur and Yavatmal line, 30 mm variety of cotton was priced at Rs 98,000, 29.5 mm at Rs 97,500 and 29 mm variety of cotton at Rs 96,000-97,000 per candy.

In Marathwada, Khandesh line, the price of 29 mm RD 75 variety of cotton was Rs 87,000 to Rs 95,000 per candy depending on the quality.

In Akola line mandis, the price of 29 mm variety of cotton was Rs 93,000 to Rs 96,000 and that of 28.5 plus cotton at Rs 90,000 to Rs 93,000 per candy, depending on the quality.



SPOT COTTON COMPLEX PRICE IN CENTRAL/SOUTH INDIA MARKET COTLOOK A INDEX 114.4 ICE COTTON DEC22 98.65
MARKET/VARIETY UNIT 10-Aug-2022 9-Aug-2022 AVERAGE %Change US cent/lb
10-Aug 09-Aug ABS CHANGE*
MH 30 mm+ (3.8-4.00 MIC) Nagpur Line (RD 75) Rs/Candy 98000-98000 98000-98000 98000 98000 0 0.00 157.19-157.19
MH 29/29+mm+ (3.8-4.00 MIC) Nagpur Line (RD 75) Rs/Candy 97500-97500 97500-97500 97500 97500 0 0.00 156.39-156.39
MH 29mm+ (3.8-4.00 MIC) Nagpur Line (RD 74) Rs/Candy 96000-97000 96000-97000 96500 96500 0 0.00 153.98-155.58
MH 29mm+ Akola Line (3.6-3.7 MIC) (RD 75) Rs/Candy 93000-96000 93000-96000 94500 94500 0 0.00 149.17-153.98
MH 28.5mm+ Akola Line (3.6-3.7 MIC) (RD 74) Rs/Candy 90000-93000 90000-93000 91500 91500 0 0.00 144.36-149.17
MH 29mm Khandesh Line Line (3.5-3.7 MIC) (RD 74/75) Rs/Candy 87000-95000 87000-95000 91000 91000 0 0.00 139.54-152.38
MH 29mm(RD74/75) Marathwada Line Rs/Candy 87000-95000 87000-95000 91000 91000 0 0.00 139.54-152.38
Sillod line 30/30.5mm Rs/Candy 92000-93000 92000-93000 92500 92500 0 0.00 147.56-149.17
USD / MT
NEW Kapas A Grade Rs/100 Kg 10000-11000 10000-11000 10500 10500 0 0.00 1257.51-1383.27
NEW Kapas Fardar Grade Rs/100 Kg 8000-9000 8000-9000 8500 8500 0 0.00 1006.01-1131.76
NEW Seed A Grade Rs/100 Kg 3400-4200 3400-4200 3800 3800 0 0.00 427.55-528.16
Note : USD / INR 79.522
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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