Cotton Prices Rise in Telangana and Andhra, Daily Arrivals Up

New Delhi, March 11 (Commodities Control): Cotton prices witnessed an uptrend in the markets of Telangana and Andhra Pradesh on Monday, driven by an increased demand from spinning mills. The surge in prices was accompanied by a notable rise in the daily arrival of Kapas in the mandis of these states.

Traders reported that the electronic trading on ICE contributed to the spike in cotton prices, strengthening due to heightened purchases from spinning mills in Telangana and Andhra Pradesh. Despite the Cotton Corporation of India (CCI) actively selling cotton in these states, and holding a substantial stock, the selling prices from CCI remained higher compared to the spot market, indicating a potential for further improvement in cotton prices.

In Andhra Pradesh, Kapas prices experienced a significant rise of Rs 400, while in Telangana, both Kapas and cottonseed prices increased by Rs 150 each. This price surge reflects the current dynamics of the domestic market following the trends set by the global market.

The domestic futures market also witnessed a mixed trend in cotton prices today. The April-24 futures contract on the NCDEX saw a rise of Rs 3 in Kapas prices, reaching Rs 1,652 per 20 kg. However, in the March-24 futures contract on the MCX, cotton prices weakened by Rs 20, settling at Rs 62,680 per candy.

The daily arrival of Kapas in the mandis of Andhra Pradesh and Telangana reached 8,000 bales on Monday, with 3,500 bales arriving in Telangana and 4,500 bales, each weighing 170 kg, in Andhra Pradesh. Comparatively, the previous trading decade saw 7,500 bales arriving in these states.





(By CommoditiesControl Bureau; +91-9820130172)