New Delhi, April 15 (Commodities Control): Cotton prices remained stable in Andhra Pradesh and Telangana on Monday due to limited demand from spinning mills, while daily arrivals in these states declined.
According to traders, cotton prices became stable due to limited purchases from spinning mills of these states. There was a decline in the prices of cotton in the world market last week, due to which new export deals of cotton are not being made from the domestic market.
Although the outstanding stock of cotton with CCI in the state is high, CCI is not selling cotton at a price higher than the market price. Therefore, there is little chance of a major decline in cotton prices from here. Kapas weakened by Rs 300 in Andhra Pradesh.
There was a declining trend in cotton prices in the domestic futures market today. Kapas prices in April-24 futures contract on NCDEX weakened by Rs 9.5 to Rs 1,494 per 20 kg.
Today the daily arrival of Kapas in the mandis of Andhra Pradesh was 2,500 bales while in Telangana the arrival was 600 bales. In its last trading day, the arrival of cotton in these states was 3,300 bales.
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(CommoditiesControl Bureau; +91-9820130172)
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