New Delhi, April 29 (Commodities Control): The cotton markets in Andhra Pradesh and Telangana displayed a mixed trend on Monday, characterized by limited demand from spinning mills, alongside a steady trend in the daily arrivals of Kapas in these states.
While cotton prices saw an increase in Telangana, they remained stable in Andhra Pradesh. Traders note that spinning mills in these states are procuring cotton only as per immediate requirements, citing weaker-than-normal local demand for yarn.
However, the possibility of cotton price hikes in the domestic market looms if global prices remain elevated, as it could spur an increase in cotton export deals from the country. Sources indicate that cotton exports from the country had surged to 18 lakh bales by the end of March in the current season. Additionally, cottonseed prices observed a rise of Rs 100 in Telangana.
In the domestic futures market, cotton prices experienced an upward trend today. In the April-24 futures contract on NCDEX, Kapas prices rose by Rs 9 to reach Rs 1,455 per 20 kg. Similarly, cotton prices in the May-24 futures contract on MCX surged by Rs 460, reaching Rs 58,800 per candy.
The daily arrival of cotton in these states stood at 3,000 bales. Specifically, the daily arrival of Kapas in Andhra Pradesh's mandis was reported at 2,500 bales, while in Telangana, it amounted to 500 bales. These figures match the arrivals reported on the previous trading day.
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(By Commoditiescontrol Bureau: +91-9820130172)
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