New Delhi, April 27 (Commodities Control): Cotton prices continued to remain stable in the markets of Andhra Pradesh and Telangana for the fourth consecutive day on Saturday, owing to limited demand from spinning mills, while daily arrivals of cotton also remained steady in these states.
Traders highlighted that the stability in cotton prices can be attributed to the restrained purchases by spinning mills in these regions. Moreover, both local and export demand for yarn are weaker than usual. Additionally, the recent decline in prices in the foreign market has led to decreased profit margins for cotton exporters.
Notably, the Cotton Corporation of India (CCI) holds a larger outstanding stock of cotton in these states and is selling cotton at prices higher than the spot market. Consequently, there is little possibility of a significant decline in cotton prices in the domestic market. Meanwhile, cottonseed prices rose by Rs 100 in Telangana.
Cotton arrivals in these states amounted to 3,000 bales. In Andhra Pradesh, the daily arrival of cotton reached 2,500 bales, while in Telangana, 500 bales were received. These figures were consistent with the previous trading day's arrivals.
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(By Commoditiescontrol Bureau: +91-9820130172)
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