New Delhi, May 14 (Commodities Control): Cotton prices remained stable in the markets of Andhra Pradesh and Telangana for the third consecutive day on Friday due to limited demand from spinning mills, while daily arrivals of Kapas have halted.
Clouds are looming over the cotton-producing areas of Andhra Pradesh and Telangana. According to traders, cotton prices have fluctuated in the foreign market over the last two days, leading spinning mills in these states to refrain from increasing their inventory. The demand for cotton yarn is weak, and ginning mills are not finding it profitable at current prices. As a result, there is no expectation of a significant rise in cotton prices in the domestic market.
Cotton prices showed an upward trend in the domestic futures market today. On NCDEX, Kapas prices for the April-25 futures contract rose by Rs 6 to Rs 1,574 per 20 kg. On MCX, cotton prices for the July-24 futures contract increased by Rs 130 to Rs 56,250 per candy.
In Andhra Pradesh and Telangana, the total cotton arrival was 2,700 bales. Andhra Pradesh mandis saw a daily arrival of 2,500 bales, while Telangana recorded an arrival of 200 bales, consistent with the previous trading day's figures.
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(By CommoditiesControl Bureau: +91-9820130172)
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