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

New Delhi, March 12 (Commodities Control): Cotton prices remained stable in the markets of Telangana and Andhra Pradesh on Tuesday, primarily driven by limited demand from spinning mills. Additionally, the daily arrival of Kapas in these states' mandis remained steady.

Traders reported a recent increase in cotton prices in these states on Monday, but the market saw stabilization on Tuesday due to restrained purchases by mills in response to the elevated prices. Despite this, traders are cautious about predicting a significant price decline. The reasons cited include the Cotton Corporation of India (CCI) selling cotton at higher prices in the region and the fact that farmers in Telangana and Andhra Pradesh have limited outstanding stock of cotton. Consequently, a decrease in daily arrivals is anticipated in the coming days.

The domestic futures market exhibited a mixed trend in cotton prices today. In the April-24 futures contract on NCDEX, Kapas prices weakened by Rs 9.5, settling at Rs 1,639.5 per 20 kg. Meanwhile, the March-24 futures contract on MCX recorded a Rs 20 increase in cotton prices, reaching Rs 62,660 per candy.

Today's market activity revealed a halt in the daily arrival of Kapas in the mandis of Andhra Pradesh and Telangana, totaling 8,000 bales. Of this, 3,500 bales arrived in Telangana, while Andhra Pradesh received 4,500 bales, each weighing 170 kg. This figure remains consistent with the previous trading day's arrival in these states.





(By CommoditiesControl Bureau; +91-9820130172)