New Delhi, May 27 (Commodities Control): Cotton prices in the markets of Andhra Pradesh and Telangana exhibited a mixed trend on Thursday due to limited demand from spinning mills, while daily arrivals of Kapas remained stable in these states.
In Andhra Pradesh, the weather is cloudy, whereas in Telangana, the weather is clear in cotton-producing areas. Cotton prices have increased in Telangana, while they have remained stable in Andhra Pradesh. According to traders, the Cotton Corporation of India (CCI) has increased the selling price of cotton by Rs 700 to Rs 1,100 per candy this week. This price hike has been reflected in the spot market, and given the demand from spinning mills, cotton prices are expected to rise further in the domestic market.
Sources report that in the current Kharif season, as of June 27, cotton has been sown in 11.56 lakh hectares in Telangana and 0.50 lakh hectares in Andhra Pradesh. The sowing of Kapas in these states is ahead compared to the same period last year.
In the domestic futures market, cotton prices remained bullish today. Kapas prices in the April-25 futures contract on NCDEX rose by Rs 4.5 to Rs 1,620 per 20 kg.
Today, cotton arrivals in these states were recorded at 1,800 bales. Specifically, the daily arrival of Kapas in the mandis of Andhra Pradesh was 1,500 bales, while in Telangana, it was 300 bales. The same number of bales arrived on the previous trading day in these states.
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(By CommoditiesControl Bureau: +91-9820130172)
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