New Delhi, April 20 (Commodities Control): Cotton prices remained stagnant in Maharashtra on Saturday, attributed to weak sales of ginning mills at lower price level. Meanwhile' a surge in daily arrivals of Kapas noted in the state's mandis.
Traders noted that cotton prices had exhibited sluggishness in the state over the past two days, with ginning mills expressing dissatisfaction with current price levels. Consequently, cotton prices stabilized as mills refrained from selling at lower prices. However, with recent declines in the world market, cotton exports do not appear profitable, dampening prospects for significant price increases in the spot market at present. Kapas and cottonseed prices have also remained stable in the state.
Today, the arrival of Kapas in the state's producing mandis totaled 22,000 bales, compared to 18,000 bales on the previous trading day.
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(By Commoditiescontrol Bureau: +91-22-40015505)
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