NEW DELHI, Sept 24 (Commoditiescontrol) : Cotton prices ruled stable in the mandis of Madhya Pradesh for the third consecutive day on Friday amid limited buying from spinning mills, while daily arrivals were reported lower.
The weather is inclement in the cotton growing areas of the state, with it has rained at some areas. According to traders, with the local and export demand in yarn continued to remain weaker than normal, the spinning mills of the state are facing disparity at current prices and are currently procuring cotton only as per the requirement. If the weather remains clear, the arrival of new cotton crop in the state's mandis will increase in the coming days, so the procurement of the spinning mills of the state is expected to remain weak, due to which the current prices of cotton may soften further. However, the balance stock of old cotton with the mills of the state is negligible.
A total 800 bales of kapas arrived in the state, down from 1,000 bales a day before.
Cotton prices in the state's mandis ranged between Rs 7,500 to Rs 9,700 per quintal, while cottonseed was quoted at Rs 3,200 to Rs 3,900 per quintal.
In the state mandis, the price of 29 mm 75 RD variety of cotton was Rs 77,000 - 78,000 per candy (one candy-356 kg), while the cost of 74 RD variety of cotton was Rs 76,000 - 77,000 per candy, 73 RD variety of cotton at Rs 75,000 -76,000 and 72 RD variety of cotton at Rs 74,000 to 75,000 per candy.
The price of 72 RD variety of cotton in 28 mm was Rs 72,000 -73,000 per candy, while 70 RD variety of cotton at Rs 71,000 - 72,000 per candy.
The price of 68 RD variety of cotton in 27mm was Rs 70,000 -71,000 per candy and that of 65 RD variety was Rs 69,000 - 70,000 per candy.
There is no availability of 30 mm cotton in the state.
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