Mumbai (Commodities Control) - Cotton prices have been steady for the second straight session on Saturday, due to restricted demand from private yarn millers and stockists at Andhra Pradesh and Telangana mandis, while daily arrivals were lower than usual fell in Andhra and Telangana mandis.
According to the traders, domestic prices dropped tracking cool off on benchmark ICE futures. Having said so, fundamentals are in favour of price rise in global cotton which will eventually aid the rally in domestic prices.
Meanwhile on Saturday, Andhra Pradesh cotton mandis reported arrivals of 2,000 bales and Telangana mandis reported arrivals of 10,000 bales vs 15,000 bales in the last session. Having said so, weather conditions have been favourable in most parts of the states, barring a few where skies were overcast.
Cotton Quotes (Per Quintal)
Kapas -Rs 4,800- 6,000
CCI Telangana Purchase Rate- Rs 5,550-5,800
Cottonseed (Telangana) - Rs 2,200 - 2,450
Cottonseed (A.P) - Rs 2,250- 2,550
Mandi-wise Cotton Quotes (Per Candy)
30mm Guntur 74/75 RD - Rs 44,000-45,200
29mm Guntur (74/75 RD) - Rs. 43,300 - 44,000
28/29mm Bhainsa - Rs 42,000-44,000
Adilabad (29mm) - Rs 43,200-44,300
Warangal (29.5-30mm) - Rs. 43,700 - 44,500
(Commodities Control Bureau)
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