A.P - Telangana Cotton Prices Extend Steady Trade amid Unch Arrivals, Restricted Mill Demand

Mumbai (Commodities Control) - Cotton prices have been steady for the third straight session on Wednesday amid pale demand from private yarn millers and MNCs at Andhra Pradesh and Telangana mandis, while daily arrivals have been steady at both the mandis.

ICE cotton futures fell about 1% on Tuesday following a sharp rise in the previous session, as a subdued sentiment in equity markets weighed on the natural fiber. The cotton market was able to shed intense selling pressure and close moderately lower. Cotton contracts for May cotton closed at 90.99 cents, down 58 points, July settled at 91.92 cents, down 54 points and December cotton ended at 86.45 cents, down 34 points.

Domestic traders were demotivated to make purchases due to weakness in the international cotton benchmark prices.

On Wednesday, Andhra Pradesh cotton mandis reported arrivals of 2,500 bales, unchanged from the last session and Telangana mandis reported arrivals of 5,000 bales, unchanged from the last session.

Cotton Quotes (Per Quintal)

Kapas -Rs 5,400- 6,400

Cottonseed - Rs 2,500 - 3,050

Cottonseed (A.P) - Rs 2,500- 3,100

Mandi-wise Cotton Quotes (Per Candy)

30mm Guntur 74/75 RD - Rs 46,500-47,200

29mm Guntur (74/75 RD) - Rs. 45,700 - 46,400

28/29mm Bhainsa - Rs 44,500-45,000

Adoni- Rs 45,500 - 46,000

Warangal (29.5-30mm) - Rs. 46,500 - 47,200

(Commodities Control Bureau)