New Delhi, May 21 (Commodities Control): Cotton prices remained stable in the markets of Andhra Pradesh and Telangana on Friday due to limited demand from spinning mills, even as daily arrivals of cotton increased in these states.
Cloudy weather conditions were observed over the cotton-producing areas of Andhra Pradesh and Telangana. Traders reported that although cotton prices softened in the international market today, prices remained stable within these states.
Spinning mills in Andhra Pradesh and Telangana are purchasing cotton in limited quantities due to the lower-than-expected demand for cotton yarn. Consequently, cotton prices have remained stable. The Cotton Corporation of India (CCI) holds a substantial stock of cotton in these states and is selling it at a higher price than the spot market.
In the domestic futures market, cotton prices showed mixed trends. On NCDEX, the April-25 futures contract for Kapas weakened by Rs 2.5 to Rs 1,611 per 20 kg. Conversely, on MCX, the July-24 futures contract for cotton rose by Rs 60 to Rs 57,850 per candy.
Today, the arrival of cotton in Andhra Pradesh and Telangana was 1,300 bales. Specifically, Andhra Pradesh saw a daily arrival of 1,000 bales, while Telangana had an arrival of 300 bales. On the previous trading day, the combined arrival of Kapas in these states was 1,200 bales.
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(By CommoditiesControl Bureau: +91-9820130172)
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