New Delhi, May 13 (Commodities Control): Cotton prices remained stable in the markets of Andhra Pradesh for the eighth consecutive trading day on Monday, attributed to limited demand from spinning mills. Simultaneously, the daily arrival of Kapas also hold steady.
According to traders, the markets of Telangana are closed due to voting for the Lok Sabha elections. There has been a decline in cotton prices in the world market last week, although today the prices have opened higher in electronic trading but the spinning mills are purchasing cotton only as per requirement. Therefore, cotton prices have remained stable. According to experts, unless the local demand for cotton yarn increases, there is no possibility of a big rise in the prices of cotton.
In the domestic futures market, cotton prices exhibited a mixed trend today. The April-25 futures contract for Kapas on NCDEX witnessed a rise of Rs 10, reaching Rs 1,572 per 20 kg. Meanwhile, cotton prices in the May-24 futures contract on MCX weakened by Rs 260 to Rs 57,100 per candy.
The arrival of cotton in these states amounted to 2,000 bales. In Andhra Pradesh, the daily arrival of Kapas in the mandis reached 2,000 bales, while in Telangana, the arrival was nil. On the last trading day, the arrival of Kapas in these states was 2,500 bales.
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(By CommoditiesControl Bureau: +91-9820130172)
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