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Cotton Prices Weakened in A.P-Telangana amid Pale Demand, Steady-to-Firm Arrivals

4 Mar 2021 3:19 pm
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Mumbai (Commodities Control) - Cotton prices dropped in Andhra Pradesh and Telangana on Thursday 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 more than 2% on Wednesday, tracking weakness in broader financial markets and as analysts said that the U.S. fiber was facing headwinds from cheaper Indian and African exports.Cotton contracts for May 21 closed at 88.45 Cents, down 254 points, July settled at 89.41 cents, down 251 points and Dec 21 Cotton closed at 85.01 cents, down 144 points.The active-contract rallied to over 2-1/2-year highs last week but has slipped as much as 7.5% from that peak.

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

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

Cotton Quotes (Per Quintal)

Kapas -Rs 5,400- 6,300

Cottonseed - Rs 2,500 - 3,000

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. 46,000 - 46,500

(Commodities Control Bureau)

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