Mumbai (Commodities Control) - Cotton prices have been steady for the Third straight session this week due to restricted demand from private yarn millers and stockists at Andhra Pradesh and Telangana mandis, while daily arrivals increased in Andhra, but steadied in Telangana mandis.
According to the traders, millers have purchased stocks to last for 2-3 months while CCI continues to liquidate its stocks of old and new procured stocks. This is the reason mils aren't in any rush to accumulate cotton.
Meanwhile on Wednesday, Andhra Pradesh cotton mandis reported arrivals of 9000 bales vs 7,000 bales and Telangana mandis reported arrivals of 25,000 bales, unchanged from the last session.
Cotton Quotes (Per Quintal)
Kapas -Rs 4,800- 6,000
CCI Telangana Purchase Rate- Rs 5,550-5,800
Cottonseed (Telangana) - Rs 2,200 - 2,425
Cottonseed (A.P) - Rs 2,250- 2,500
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 42,000-44,200
Adilabad (29mm) - Rs 43,500-44,500
Warangal (29.5-30mm) - Rs. 43,700 - 44,500
(Commodities Control Bureau)
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