New Delhi, December 5 (Commodities Control): Cotton prices in Andhra Pradesh and Telangana decreased for the second consecutive day on Thursday, driven by sluggish demand from spinning mills. Moreover, daily arrivals of Kapas also declined in these states, further reflecting the subdued market sentiment.
Local and export demand for cotton yarn remains weak, prompting spinning mills to limit their purchases to immediate requirements. Traders note that the Cotton Corporation of India (CCI) is offloading cotton stocks from the 2023-24 crop season, adding to the market's bearish tone.
- Kapas and Cottonseed Prices: Stable across both states.
- Domestic Futures: Mixed trends were observed today.
- On NCDEX, the April-25 Kapas futures contract fell by ₹1 to ₹1,529 per 20 kg.
- On MCX, the November-24 cotton futures contract rose by ₹460 to ₹55,850 per candy.
The total Kapas arrival in Andhra Pradesh and Telangana dropped to 68,000 bales, down from 78,000 bales on the previous trading day.
- Andhra Pradesh: 8,000 bales.
- Telangana: 60,000 bales.
Experts suggest that weak local and export demand for cotton yarn will continue to weigh on cotton prices. The ongoing sale of CCI stocks adds to the pressure, leaving limited scope for immediate price recovery.
(634).png)
(643).png)
(CommoditiesControl Bureau; +91-9820130172)
0 Comments 
Post Comment 
