New Delhi, April 22 (Commodities Control): Cotton markets in Andhra Pradesh and Telangana displayed a mixed trend for the fourth consecutive trading day on Monday, with prices being influenced by limited demand from spinning mills, while daily arrivals of Kapas remain stagnant.
In Andhra Pradesh, cotton prices remained stable, while prices saw an uptick in Telangana. Traders note that spinning mills in these states are currently procuring cotton only as per their immediate requirements, especially following a slowdown in cotton prices in the global market last week.
Consequently, the relative stability in cotton prices in these states compared to the global market has rendered export deals unprofitable. Experts suggest that if prices continue to rise in the international market, cotton prices in Andhra Pradesh and Telangana may also witness an increase. Additionally, the Cotton Corporation of India (CCI) holds a significant outstanding stock of cotton in these states.
In the domestic futures market, cotton prices remained bullish today. On NCDEX, the price of Kapas in the April-24 futures contract rose by Rs 14 to Rs 1,445 per 20 kg. Similarly, on MCX, the price of cotton surged by Rs 940 to Rs 58,900 per candy in the May-24 futures contract.
Cotton arrivals in these states amounted to 3,000 bales. Today, the daily arrival of Kapas in the mandis of Andhra Pradesh totaled 2,500 bales, while Telangana recorded an arrival of 500 bales. These figures match with the previous trading day's arrivals in both states.
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(By Commoditiescontrol Bureau: +91-22-40015505)
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