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

26 Apr 2024 4:22 pm
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New Delhi, April 26 (Commodities Control): Cotton prices remained stable in the markets of Andhra Pradesh and Telangana on Friday for the third consecutive day, primarily due to limited demand from spinning mills, while daily arrivals also remained stable in these states.

Traders report that cotton prices have maintained stability in the spot market for the third consecutive day, as both local and export demand for yarn are weaker than usual. Additionally, the margin of cotton exporters has decreased compared to earlier, as the recent slowdown in foreign cotton prices has not proportionally affected prices in these states. Consequently, the likelihood of a significant decline in cotton prices in the spot market is minimal.

In the domestic futures market, cotton prices exhibited a mixed trend today. The April-24 futures contract for Kapas on NCDEX weakened by Rs 2 to Rs 1,448 per 20 kg. Conversely, cotton prices in the May-24 futures contract on MCX rose by Rs 60 to Rs 58,680 per candy.

In Andhra Pradesh and Telangana, the total cotton arrival was 3,000 bales. Specifically, Andhra Pradesh's mandis received 2,500 bales today, while Telangana received 500 bales. This daily arrival figure remained consistent with the previous trading day.

(By Commoditiescontrol Bureau: +91-9820130172)

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