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Cotton remains steady for 4th straight day in AP & Telangana amid cautious buying

28 May 2022 6:24 pm
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NEW DELHI, May 28 (Commoditiescontrol) - Cotton prices continued to rule flat in the mandis of Andhra Pradesh and Telangana on Saturday amid limited buying from spinning mills, while daily arrivals were reported lower.

According to traders, amid less availability of cotton, small spinning mills of these states have almost stopped production, while big mills are able to operate in one or one and a half shifts. Therefore, cotton prices in the spot market have remained almost stable. In the domestic market, mills are not getting parity as the prices of yarn have not picked up as compared to cotton. Hence, the millers are procuring cotton only as per the requirement. Although the spinning mills of these states have less than a month's stock of cotton for consumption on an average, so there will be a further softening in the price, but there is little chance of a big fall now.

The daily arrival of cotton in the mandis of Andhra Pradesh and Telangana was 400 bales today, down from 500 bales a day ago. Of the total arrivals, 100 bales arrived in Telangana and 300 bales in Andhra Pradesh mandis.

Cotton prices were between Rs 11,000 to 12,610 per quintal in Telangana mandis and Rs 10,000 to 13,050 per quintal in Andhra Pradesh mandis.

Cottonseed prices ranged from Rs 3,800 to Rs 4,150 per quintal in mandis of Telangana and Rs 3,300 to Rs 4,050 per quintal in mandis of Andhra Pradesh.

In Guntur mandi of Andhra Pradesh, 29/29.5 plus mm RD 72/73 variety of cotton traded at Rs 96,000 to 1,00,000 per candy (candy-356 kg), while 29.5plus mm RD 75/78 variety cotton traded at Rs 1,00,000 to 1,04,000 per candy, depending on the quality.

In Adoni Mandi of the state, 29 plus mm RD 72/75 variety of cotton was traded at the rate of Rs 97,000 to 1,04,000 per candy (candy-356 kg).

In Warangal Mandi of Telangana, 29 plus mm RD 72/75 cotton traded at Rs 1,09,000 - 1,09,500 and 30 plus mm RD 72/75 variety cotton was trading at Rs 1,09,500 to 1,10,500 per candy.

In Adilabad Mandi, the price of RD 72/75 cotton of 29 plus mm variety was quoted at Rs 1,02,000 to 1,05,000 per candy.

In Bhainsa Mandi, the price of 29/29 plus MM variety of RD 72/75 cotton was quoted at Rs 1,05,000 to Rs 1,06,000 per candy.

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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