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Cotton Prices Show Mixed Trends in Andhra Pradesh and Telangana

2 May 2024 2:16 pm
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New Delhi, May 2 (Commodities Control): Cotton prices showed mixed trends in the markets of Andhra Pradesh and Telangana on Thursday, reflecting subdued demand from spinning mills. Meanwhile, the daily arrival of Kapas in these states remained steady.

While cotton prices experienced a decline in Telangana, it remained stable in Andhra Pradesh. Traders attribute this variation to the weak demand for yarn in the local market and the narrowing margins of cotton exporters. Recent fluctuations in domestic cotton prices have taken clue from the international market, further dampening demand. Despite relatively low outstanding stock levels in the spinning mills of these states, there is little indication of an imminent price increase. Kapas prices weakened by Rs 200 in Telangana.

In the domestic futures market, cotton prices displayed a mixed trend today. In the April-25 futures contract on NCDEX, Kapas prices weakened by Rs 5 to Rs 1,583 per 20 kg. Conversely, cotton prices in the May-24 futures contract on MCX rose by Rs 320 to reach Rs 57,440 per candy.

The total arrival of Kapas in these states amounted to 3,000 bales. Specifically, the daily arrival of Kapas in the mandis of Andhra Pradesh stood at 2,500 bales, while in Telangana, it was 500 bales. These figures remained consistent with the previous trading day.

(By Commoditiescontrol Bureau: +91-9820130172)

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