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Cotton Prices Show Mixed Trend in Andhra & Telangana

15 May 2024 3:24 pm
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New Delhi, May 15 (Commodities Control): Cotton prices displayed a mixed trend in the markets of Andhra Pradesh and Telangana on Wednesday, attributed to limited demand from spinning mills, while stable daily arrivals of Kapas noted in mandis.

While cotton prices softened in Telangana, they remained stable in Andhra Pradesh. Traders noted a recent decline in cotton prices in the world market; however, the prices in these states have not decreased in proportion. Consequently, there seems to be no significant impact on the export of cotton and yarn from the domestic market. As a result, the spinning mill inventory in these states is not experiencing substantial growth.

A declining trend was observed in cotton prices in the domestic futures market today. Kapas prices in the April-25 futures contract on NCDEX weakened by Rs 5, settling at Rs 1,557 per 20 kg. Similarly, cotton prices in the May-24 futures contract on MCX saw a decline of Rs 700, reaching Rs 55,900 per candy.

The 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 was 500 bales. These figures remained consistent with the previous trading day.





(By CommoditiesControl Bureau: +91-9820130172)


       
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