New Delhi, April 4 (Commodities Control): The cotton market exhibited a mixed performance in the markets of Telangana and Andhra Pradesh on Thursday, influenced by limited demand from spinning mills and an uptick in daily Kapas arrivals.
In Telangana, cotton prices saw a decrease, whereas prices in Andhra Pradesh held steady. Market participants noted the global cotton price volatility as a key reason behind the cautious approach adopted by spinning mills in these states, with purchases being made based on immediate need. However, with anticipated improvements in yarn demand and exports, mills are expected to ramp up their cotton purchases.
The domestic futures market also mirrored the softening trend in cotton prices. The April-24 futures contract for Kapas on NCDEX dropped by Rs 9 to Rs 1,527 per 20 kg. Similarly, the May-24 futures contract for cotton on MCX saw a reduction of Rs 220, ending at Rs 62,000 per candy.
Today's Kapas arrivals in the mandis of both Andhra Pradesh and Telangana increased to 5,000 bales, compared to 4,000 bales on the previous trading day. Of these, 1,500 bales were reported in Telangana, while Andhra Pradesh accounted for the remaining 3,500 bales, each weighing 170 kg.
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(CommoditiesControl Bureau; +91-9820130172)
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