New Delhi, June 12 (Commodities Control): Cotton prices remained stable in Maharashtra on Wednesday, driven by limited purchases from spinning mills, while daily arrivals of Kapas declined.
The weather is clear in the state's cotton-producing regions. According to traders, spinning mills are purchasing cotton only as needed, resulting in stable prices in the spot market.
Experts highlight that recent declines in global cotton prices have impacted export demand for both yarn and cotton. Additionally, Maharashtra's ginning mills hold significant stockpiles of cotton, reducing the likelihood of a substantial price increase. Prices for both Kapas and cottonseed remained stable in the state.
In the domestic futures market, cotton prices showed an upward trend today. The April-25 futures contract on NCDEX saw Kapas prices rise by Rs 3.5, reaching Rs 1,570 per 20 kg.
Today's Kapas arrivals in Maharashtra's producing markets totaled 13,000 bales, down from 15,000 bales on the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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