Mumbai (Commodities Control) - Cotton prices are holding steady for the third straight trading session in Andhra Pradesh and Telangana on Monday amid pale demand from private yarn millers and MNCs, while daily arrivals have risen at the two states mandis today.
Cotton experts note that demand from millers/stockists/MNCs bounced back in North Indian and Central India cotton mandis due to extended gains on ICE cotton futures on Monday. However in Telangana and Andhra Radesh mandis, the trade demand has been slow due to higher arrivals of lower grade variety cotton. Meanwhile exporters and MNCs are purchasing premium quality fibre.
Market participants see bullish supply-demand factors keeping prices elevated, as the WASDE report is awaited on Tuesday.
On Monday, Andhra Pradesh cotton mandis reported arrivals of 3,000 bales vs 2,500 bales, unchanged from the last session and Telangana mandis reported arrivals of 6,000 bales vs 5,000 bales in the last session.
Cotton Quotes (Per Quintal)
Kapas -Rs 5,400- 6,350
Cottonseed - Rs 2,500 - 3,000
Mandi-wise Cotton Quotes (Per Candy)
30mm Guntur 74/75 RD - Rs 46,300-47,000
29mm Guntur (74/75 RD) - Rs. 45,600 - 46,200
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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