New Delhi, November 14 (Commodities Control): Cotton prices continued to decrease in Maharashtra on Thursday, marking a second day of decline due to weak demand from spinning mills, while daily arrivals of Kapas also decreased.
Traders attribute the decline in prices to low purchasing activity by spinning mills, which reflects weak demand for cotton yarn. Global cotton prices have also dipped this week, adding pressure on the domestic market. Ginners, who have faced losses over the past two years, are now buying Kapas only as needed, limiting any potential for significant price increases in the spot market. Prices for Kapas and cottonseed stood stable in the state.
The Cotton Corporation of India (CCI) has urged Kapas farmers not to sell produce with more than 12% moisture below the Minimum Support Price (MSP). To support farmers, CCI has established approximately 500 procurement centers across the country, and information is available on the Cott-Ally mobile app.
In the domestic futures market, cotton prices were mixed. Kapas on the NCDEX April-25 contract rose by ₹1.5 to ₹1,557 per 20 kg, while on MCX, the November-24 cotton contract fell by ₹370 to ₹55,010 per candy.
Today’s Kapas arrivals in Maharashtra’s producing mandis reached 30,000 bales, down from 32,000 bales on the previous day.
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(By CommoditiesControl Bureau; +91-9820130172)
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