New Delhi, April 23 (Commodities Control): Cotton prices displayed a mixed trend for the fifth consecutive working day on Tuesday in the markets of Andhra Pradesh and Telangana, influenced by limited demand from spinning mills, while daily arrivals remained consistent in these states.
While cotton prices remained stable in Andhra Pradesh, they saw a second-day rise in Telangana. Traders noted that despite a slowdown in cotton prices in the global market last week, prices in these states have maintained their stability. The Cotton Corporation of India (CCI) holds the highest stock of cotton in these regions and is selling cotton at elevated prices, mitigating the possibility of a significant decline in cotton prices in the spot market. Notably, Kapas prices rose by Rs 100 in Telangana.
In the domestic futures market, cotton prices remained bullish. The April-24 futures contract on NCDEX saw Kapas prices rise by Rs 6 to Rs 1,450 per 20 kg. Similarly, the May-24 futures contract on MCX witnessed a surge of Rs 160, reaching Rs 59,100 per candy.
Cotton arrival in these states totaled 3,000 bales. Specifically, the daily arrival of Kapas in the mandis of Andhra Pradesh amounted to 2,500 bales, while Telangana saw an arrival of 500 bales. This figure remained consistent with the previous trading day.
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(By Commoditiescontrol Bureau: +91-22-40015505)
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