New Delhi, March 28 (Commodities Control): Cotton prices remained stable in the markets of Telangana and Andhra Pradesh on Thursday, reflecting limited demand from spinning mills, while the daily arrival of Kapas remained unchanged in the mandis of these states.
Traders note that spinning mills in these states are currently adjusting their cotton purchases according to immediate requirements, as business activity decreases with the closing period approaching. Moreover, both local and export demand for cotton yarn is anticipated to remain subdued in the current week, dampening the possibility of a significant price surge.
Experts also highlight that the Cotton Corporation of India (CCI) holds the highest stock of cotton in these states, but is selling cotton at higher prices, potentially leading to increased purchases from spinning mills in April. In Telangana, Kapas prices weakened by Rs 50, while cottonsees prices experienced a decline of Rs 25.
In the domestic futures market, cotton prices exhibited a declining trend. The April-24 futures contract for Kapas on NCDEX weakened by Rs 7.5 to Rs 1,527.5 per 20 kg. Similarly, cotton prices in the May-24 futures contract on MCX saw a decline of Rs 80 to Rs 62,000 per candy.
Today, the daily arrival of Kapas in the mandis of Andhra Pradesh and Telangana amounted to 6,000 bales, with 1,500 bales arriving in Telangana and 3,500 bales in Andhra Pradesh, each bale weighing 170 kg. This figure remained consistent with the arrivals from the last trading day.
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(CommoditiesControl Bureau; +91-9820130172)
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