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Cotton Prices Hold Steady in Andhra & Telangana Amid Limited Demand

9 May 2024 3:06 pm
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New Delhi, May 9 (Commodities Control): For the fifth consecutive trading day, cotton prices remained stable in the markets of Andhra Pradesh and Telangana, attributed to limited demand from spinning mills. Daily arrivals of Kapas in these states also remained stable.

Traders highlight fluctuations in cotton prices in the foreign market, influencing domestic spinning mills to procure cotton only as needed. Furthermore, both local and export demand for yarn is weaker than usual, with export deals for cotton occurring in limited quantities. Consequently, significant upward movement in cotton prices in these states is unlikely. However, in Telangana, cottonseed prices increased by Rs 50.

In the domestic futures market, cotton prices experienced a declining trend today. Kapas prices in the April-25 futures contract on NCDEX weakened by Rs 4 to Rs 1,561.5 per 20 kg. Similarly, cotton prices in the May-24 futures contract on MCX declined by Rs 80 to Rs 57,500 per candy.

Today, the arrival of cotton in these states totaled 2,500 bales. Specifically, the daily arrival of Kapas in Andhra Pradesh mandis was 2,000 bales, while in Telangana, it was 500 bales. This level of arrival remained consistent with the previous trading day.




(By CommoditiesControl Bureau: +91-9820130172)


       
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