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Cotton Prices Hold Steady in Andhra & Telangana, Daily Arrivals Stable

11 May 2024 2:00 pm
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New Delhi, May 11 (Commodities Control): Cotton prices continued to hold steady in the markets of Andhra Pradesh and Telangana for the seventh consecutive working day on Saturday, attributed to limited demand from spinning mills, while the daily arrival of Kapas remain unchanged in these states.

Traders note that while cotton prices have displayed sluggishness in the world market over the past two days, prices in these states have remained resilient, rendering cotton exports unprofitable. Additionally, ginners in these states are also reducing their cotton sales, while the Cotton Corporation of India (CCI) is selling cotton at a higher price compared to the spot market. Consequently, the prospects for a significant rise in cotton prices seem unlikely.

The arrival of cotton in these states stood at 2,500 bales. Today, the daily arrival of Kapas in the mandis of Andhra Pradesh was recorded at 2,000 bales, while in Telangana, it amounted to 500 bales. These figures match with the arrivals from the previous trading day.




(By CommoditiesControl Bureau: +91-9820130172)


       
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