Cotton Prices Hold Steady in Maharashtra Amid Ginning Mills'' Reluctance to Sell at Lower Rates

New Delhi, April 15 (Commodities Control): Cotton prices in Maharashtra showed signs of stabilization on Monday, attributed to the subdued selling by ginning mills at lower price levels. Concurrently, the state witnessed a notable increase in the daily arrivals of Kapas across its mandis.

Traders highlight a decline in cotton prices observed in the state during the previous week, with ginning mills finding it unprofitable to sell at reduced prices. Consequently, the reduced sales by ginners have contributed to the stability in cotton prices within the state.

Industry experts note a decrease in local demand for yarn compared to previous levels, alongside a lower outstanding stock of cotton held by spinning mills in Maharashtra. In this scenario, the likelihood of a significant decline in cotton prices in the spot market is minimal. Additionally, Kapas and cottonseed prices remained stable in the state.

In the domestic futures market, a declining trend was evident in cotton prices today. Notably, Kapas prices in the April-24 futures contract on the NCDEX weakened by Rs 9.5 to Rs 1,494 per 20 kg.

Today, the arrival of Kapas in the producer markets of the state totaled 20,000 bales, compared to 15,000 bales on the previous trading day.



(CommoditiesControl Bureau; +91-9820130172)