Mumbai (Commodities Control) - Cotton prices held steady on Saturday due to weak demand from private yarn millers and MNCs at Andhra Pradesh and Telangana mandis, while daily arrivals dropped in Andhra and Telangana mandis.
Cotton prices fell more than 1% on Friday as a firmer dollar and profit taking precipitated a pullback from an over two-year peak scaled in the previous session.The cotton contract for Mar 21 closed at 81.56 cents, down 101 points and May 21 Cotton closed at 82.66 cents, down 84 points. July 21 Cotton closed at 83.56 cents, down 74 points and Dec 21 Cotton closed at 78.47 cents, down 57 points.
Meanwhile on Saturday, Andhra Pradesh cotton mandis reported arrivals of 6,000 bales vs 7,000 bales and Telangana mandis reported arrivals of 22,000 bales vs 23,000 bales in the last session.
Cotton Quotes (Per Quintal)
Kapas -Rs 4,800- 6,050
CCI Telangana Purchase Rate- Rs 5,550-5,800
Cottonseed (Telangana) - Rs 2,200 - 2,500
Cottonseed (A.P) - Rs 2,250- 2,600
Mandi-wise Cotton Quotes (Per Candy)
30mm Guntur 74/75 RD - Rs 44,500-45,500
29mm Guntur (74/75 RD) - Rs. 43,800 - 44,300
28/29mm Bhainsa - Rs 42,500-44,500
Adilabad (29mm) - Rs 44,000-44,700
Warangal (29.5-30mm) - Rs. 44,300 - 45,000
(Commodities Control Bureau)
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