New Delhi, May 6 (Commodities Control) Cotton prices remained stable in the mandis of Andhra Pradesh and Telangana for the second consecutive trading day on Monday due to limited demand from spinning mills, while the daily arrival of Kapas in these states stopped.
According to traders, the spinning mills of these states are purchasing cotton only as per requirement, because recently CCI had also reduced the selling price of cotton. According to experts, at present the entire Kapas industry, be it textile manufacturing companies or spinning and ginning mills, is forced to do business with limited margins. Therefore, limited rise and decline in cotton prices is being seen in the spot market.
There was an upward trend in cotton prices in the domestic futures market today. Kapas prices rose by Rs 9 to Rs 1,581 per 20 kg in April-25 futures contract on NCDEX.
The arrival of cotton in these states was 2,500 bales. Today the daily arrival of Kapas in the mandis of Andhra Pradesh was 2,000 bales while in Telangana the arrival was 500 bales. In the previous trading day, the arrival of Kapas in these states was the same amount.
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(By CommoditiesControl Bureau: +91-9820130172)
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