New Delhi, March 29 (Commodities Control): Cotton prices in Madhya Pradesh remained consistent on Friday as demand from spinning mills remained subdued, while the daily arrivals of Kapas into the state's mandis held steady.
Traders noted a downturn in cotton prices earlier in the week, yet the sales activity of ginning mills faltered in response to the diminished prices. Consequently, cotton prices ceased to fluctuate in the spot market. Traders express reluctance towards anticipating a significant surge in cotton prices presently, attributing it to spinning mills' cautious procurement practices aligned closely with their immediate needs.
Experts noted the near absence of outstanding Kapas stock among the state's farmers, coupled with stockists' reluctance to adjust prices downward. This has set the stage for a potential improvement in cotton prices in the forthcoming month. Meanwhile, cottonseed prices remain stable alongside Kapas in the state.
In the producer mandis of Madhya Pradesh, the arrival of Kapas stood at 3,000 bales, each weighing 170 kg, matching the figures from the preceding working day.
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(CommoditiesControl Bureau; +91-9820130172)
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