Cotton Prices Steady in Madhya Pradesh Amid Decreased Demand; Daily Arrivals Reduce

New Delhi, March 19 (Commodities Control): Cotton prices maintained stability in Madhya Pradesh on Tuesday, marked by reduced demand from spinning mills due to elevated prices. Concurrently, a decline in the daily arrivals of Kapas was noted in the state's mandis.

Traders highlighted that cotton prices had witnessed an uptick in the state on Monday. However, prices stabilized as spinning mills reduced their purchases due to the escalated prices. Despite this, ginning mills in the state refrained from selling cotton at lower prices, as they had procured Kapas from farmers at elevated rates. Consequently, cotton prices are anticipated to rise in the coming days. Meanwhile, Kapas and cottonseed prices remained stable in the state.

In the domestic futures market, cotton prices exhibited a declining trend today. Kapas prices in the April-24 futures contract on NCDEX weakened by Rs 12.5 to reach Rs 1,568 per 20 kg. Simultaneously, cotton prices in the March-24 futures contract on MCX saw a decline of Rs 380 to Rs 61,140 per candy.

The arrival of Kapas in the producer mandis of the state amounted to 5,000 bales, with each bale weighing 170 kg. This figure reflects a decrease from the previous working day, which recorded 5,500 bales.



(CommoditiesControl Bureau; +91-9820130172)