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Cotton Prices Show Mixed Trends in Andhra and Telangana; Daily Arrivals Decrease

3 May 2024 3:57 pm
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New Delhi, May 3 (Commodities Control): Cotton prices exhibited a mixed trend in the markets of Andhra Pradesh and Telangana on Friday, reflecting limited demand from spinning mills alongside decreased daily arrivals of Kapas in these states.

While cotton prices experienced a decline for the second consecutive day in Telangana, prices remained stable in Andhra Pradesh. Traders attribute this trend to weaker-than-normal demand for yarn, prompting spinning mills in these states to procure cotton in limited quantities. Additionally, the recent reduction in selling prices of cotton by Rs 1000 per bale by the Cotton Corporation of India (CCI) on Thursday has exerted pressure on prices. Despite the relatively low outstanding stock of cotton with spinning mills in these states, there is currently no indication of an imminent price increase. Furthermore, Kapas prices weakened by Rs 100 in Telangana.

In the domestic futures market, cotton prices experienced a downward trend today. Kapas prices in April-25 futures contracts on NCDEX weakened by Rs 8 to Rs 1,573.5 per 20 kg. Similarly, cotton prices in May-24 futures contracts on MCX saw a decline of Rs 80 to Rs 57,200 per candy.

The total arrival of cotton in these states amounted to 2,500 bales. In Andhra Pradesh, the daily arrival of Kapas in mandis reached 2,000 bales, while in Telangana, it stood at 500 bales. This decrease in daily arrivals compared to the previous trading day, where the arrival of Kapas in these states was 3,000 bales.





(By Commoditiescontrol Bureau: +91-9820130172)


       
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