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Cotton Prices Hold Steady in Andhra & Telangana; Daily Arrivals Stable

21 May 2024 2:23 pm
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New Delhi, May 21 (Commodities Control): Cotton prices in the markets of Andhra Pradesh and Telangana remained stable for the fifth consecutive trading day on Tuesday due to limited demand from spinning mills. The daily arrival of Kapas in these states also remained stable.

Traders report that spinning mills in Andhra Pradesh and Telangana are purchasing limited quantities of cotton following the recent decline in global cotton prices. This decline has made cotton exports from the domestic market unprofitable, and local demand for yarn continues to be weaker than normal. Consequently, there is no anticipated rise in cotton prices in the spot market.

In the domestic futures market, cotton prices exhibited a mixed trend today. Kapas prices in the April-25 futures contract on NCDEX rose by Rs 10.5 to Rs 1,585 per 20 kg, while cotton prices in the May-24 futures contract on MCX weakened by Rs 100 to Rs 56,000 per candy.

The arrival of cotton in Andhra Pradesh and Telangana was recorded at 2,500 bales. Specifically, Andhra Pradesh saw a daily arrival of 2,000 bales, while Telangana reported 500 bales. These figures are consistent with the arrivals on the previous trading day.

(By CommoditiesControl Bureau: +91-9820130172)

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