Cotton Prices Dip in Maharashtra on Spinning Mills'' Reduced Procurement

New Delhi, April 11 (Commodities Control): Cotton prices in Maharashtra experienced a decline, influenced by the reduced procurement activities from spinning mills, while a noticeable decrease in the daily arrival of Kapas registered.

Traders say, persistent slump in global cotton prices over recent days is a key factor behind the reduced buying interest from the state's spinning mills. This global downturn has not only reduced exporter margins but has also led to a subdued demand for yarn within the local market.

Despite these challenges, industry insiders suggest that the relatively low existing cotton stock at many of the state's mills could necessitate future purchases, thereby potentially mitigating any significant drops in cotton prices. Meanwhile, both Kapas and cottonseed prices have remained stable.

The reported arrival figures for Kapas in the state's production markets stood at 20,000 bales today, marking a decrease from the 25,000 bales reported in the previous trading session.



(CommoditiesControl Bureau; +91-9820130172)