New Delhi, May 1 (Commodities Control): Cotton prices experienced a decline for the second consecutive day in Maharashtra on Wednesday, primarily due to weak demand from spinning mills coupled with a decrease in daily arrivals of Kapas in the state.
Traders reported that local demand for yarn remains sluggish, leading spinning mills to procure cotton only as per immediate requirement. Consequently, prices have witnessed a downturn in the spot market for the second day in a row.
Despite the Cotton Corporation of India (CCI) selling cotton at elevated prices in the domestic market, ginners find themselves compelled to engage in trade with constrained margins at current price levels. Consequently, cotton prices are expected to remain stagnant in the spot market. Kapas and cottonseed prices have also remained stable in the state.
Today, the arrival of Kapas in the producer mandis of the state stood at 15,000 bales, compared to 18,000 bales recorded on the previous trading day.
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(By Commoditiescontrol Bureau: +91-9820130172)
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