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A.P - Telangana Cotton Extends Steady Trade amid Lower Arrivals, Restricted Buying

9 Mar 2021 3:30 pm
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Mumbai (Commodities Control) - Cotton prices are holding steady for the fourth straight trading session in Andhra Pradesh and Telangana on Tuesday amid pale demand from private yarn millers and MNCs, while daily arrivals dropped at the two states mandis today.

ICE cotton futures edged down until mid session on Monday as a stronger U.S. dollar countered support from robust demand and bets for lower ending stocks in this week's federal supply-demand report. However the front month contracts rallied towards the end to settle with double digit gains.

Market widely expects WASDE to reflect lower 2020 production and elevated exports and, thus, lower carryout in the U.S. Cotton contracts for May closed at 88.32 cents, up 56 points, July settled at 89.29 cents, plus 62 points, and December ended at 85.34 cents, 80 point higher.

On Tuesday, Andhra Pradesh cotton mandis reported arrivals of 2,500 bales vs 3,000 bales in the last session and Telangana mandis reported arrivals of 5,000 bales vs 6,000 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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