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Cotton Prices Down in Maharashtra Amid Reduced Buying; Daily Arrivals Up

18 Apr 2024 1:22 pm
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New Delhi, April 18 (Commodities Control): Cotton prices declined in Maharashtra on Thursday due to reduced purchases from spinning mills, while an increase in daily arrivals of Kapas was recorded in the state mandis.

According to traders, cotton prices have weakened due to increase in sales of MNC companies in the state because of the decline in its prices in the world market. In view of this, the spinning mills of the state are purchasing cotton only as per requirement. However, at current cotton prices, ginning mills are also trading with limited margins. Despite this, there is no possibility of a big rise in the prices of cotton in the domestic market. Kapas prices in the state decreased by Rs 100 and cottonseed prices also weakened by Rs 100.

There was a declining trend in cotton prices in the domestic futures market today. Kapas prices in April-24 futures contract on NCDEX weakened by Rs 22 to Rs 1,461.5 per 20 kg. During this period, cotton prices in May-24 futures contract on MCX weakened by Rs 120 to Rs 57,480 per candy.

Today, the arrival of Kapas in the producer mandis of the state was 14,000 bales, whereas the arrival on the previous trading day was 12,000 bales.

(CommoditiesControl Bureau; +91-9820130172)

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