New Delhi, April 6 (Commodities Control): Cotton prices in the markets of Telangana and Andhra saw no movement today, as spinning mills exhibited limited demand, coinciding with a notable decline in the daily arrivals of Kapas.
The cautious stance of the spinning mills is attributed to the recent downtrend in global cotton prices, which has subsequently narrowed the profit margins for cotton exporters. Despite this, traders anticipate an uptick in domestic yarn demand shortly. However, with the mills currently holding minimal cotton stock, an eventual increase in procurement seems inevitable to meet the forthcoming demand.
The reported daily intake of Kapas in these southern states marked a decrease, totaling 4,500 bales, down from 5,000 bales in the previous session. The breakdown of arrivals showed 1,000 bales making their way to Telangana and 3,500 bales delivered in Andhra Pradesh, each bale weighing 170 kg.
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(CommoditiesControl Bureau; +91-9820130172)
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