New Delhi, January 11 (Commodities Control): Cotton prices in Maharashtra's mandis softened on Saturday due to weak purchases by spinning mills, while daily arrivals of Kapas in the state decreased.
Traders observed that cotton prices have declined due to limited demand from the state's spinning mills. This decline is attributed to the drop in global cotton prices, which has made imports cheaper. Despite it being the consumption season in the domestic market, demand for yarn has not picked up as expected. Additionally, although the production estimate for the current season is low, spinning mills are not increasing their purchases. Along with Kapas, cottonseed prices also remained stable in the state.
Today, the arrival of Kapas in Maharashtra’s mandis was recorded at 60,000 bales (1 bale = 170 kg), a reduction from the 70,000 bales that arrived on the previous trading day.
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(By CommoditiesControl Bureau; +91-9820130172)