New Delhi, May 17 (Commodities Control): Cotton prices remained stable in the markets of Andhra Pradesh and Telangana for the fifth consecutive trading day on Monday due to limited demand from spinning mills. Daily arrivals of cotton also remained stable in these states.
Weather conditions vary between the two states, with Andhra Pradesh experiencing cloudy skies while the weather is clear in the cotton-producing areas of Telangana. According to traders, recent declines in global cotton prices have rendered cotton exports from the domestic market unprofitable. As a result, ginners are facing losses at the current prices and are selling less cotton, contributing to the stability in cotton prices.
The Cotton Corporation of India (CCI) holds a substantial stock of cotton in these states and continues to sell it, which further contributes to the stability in domestic cotton prices, with no significant increase anticipated in the near future.
Cotton arrivals in these states totaled 2,700 bales. In Andhra Pradesh, the daily arrival was 2,500 bales, while in Telangana, it was 200 bales. These figures were consistent with the previous trading day's arrivals.
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(By CommoditiesControl Bureau: +91-9820130172)
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