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Cotton Prices Stable in Andhra and Telangana Amid Limited Demand

17 May 2024 2:12 pm
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New Delhi, May 17 (Commodities Control): Cotton prices remained stable for the second consecutive day on Friday in the markets of Andhra Pradesh and Telangana, driven by limited demand from spinning mills. Concurrently, the daily arrival of Kapas in these states remained steady.

Traders report that cotton prices in the region have not declined as sharply as international prices this month, making cotton exports unprofitable. Additionally, local yarn demand remains weak, leading spinning mills to purchase cotton only as needed. The Cotton Corporation of India (CCI) holds significant cotton stock in these states, further influencing the market dynamics.

Despite the stagnant spot market, there was an upward trend in the domestic futures market today. Kapas prices in the April-25 futures contract on NCDEX rose by Rs 2.5, reaching Rs 1,569 per 20 kg. Meanwhile, cotton prices in the May-24 futures contract on MCX increased by Rs 120, bringing the price to Rs 56,200 per candy.

The total arrival of cotton in Andhra Pradesh and Telangana today was 2,500 bales. Specifically, Andhra Pradesh saw an arrival of 2,000 bales, while Telangana received 500 bales, matching the arrival figures from the previous trading day.







(By CommoditiesControl Bureau: +91-9820130172)


       
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