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Cotton Prices Stable in Andhra & Telangana on Spinning Mills Limited Demand

14 May 2024 2:24 pm
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New Delhi, May 14 (Commodities Control): Cotton prices continued to hold steady in the markets of Andhra Pradesh and Telangana for the 9th consecutive trading day on Tuesday, driven by limited demand from spinning mills. Additionally, the daily arrival of Kapas remained unchanged.

Traders noted a recent downturn in cotton prices in the global market, leading to unprofitable prospects for exporting cotton and yarn from the domestic market. Consequently, spinning mills in these states are procuring cotton only as per their immediate requirements. As a result, cotton prices have maintained stability in the spot market. Experts suggest that the Cotton Corporation of India (CCI) is consistently selling cotton in the domestic market, albeit at higher prices compared to the spot market.

In the domestic futures market, a declining trend was observed in cotton prices today. Kapas prices in the April-25 futures contract on the NCDEX weakened by Rs 7.5 to Rs 1,562 per 20 kg.

The total arrival of cotton in these states amounted to 2,500 bales. Today, the daily arrival of Kapas in the mandis of Andhra Pradesh was 2,000 bales, while in Telangana, it stood at 550 bales. Comparatively, the arrival of Kapas in these states on the previous trading day was also 2,000 bales.






(By CommoditiesControl Bureau: +91-9820130172)


       
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