New Delhi, May 18 (Commodities Control): Cotton prices fell in the markets of Andhra Pradesh and Telangana on Tuesday, driven by weak demand from spinning mills. Daily arrivals of Kapas also decreased in these states.
Rainfall has been recorded in Andhra Pradesh, and the weather remains adverse in the Kapas-producing areas of Telangana. According to traders, the decline in cotton prices is due to reduced purchases by spinning mills in these states. The fall in global cotton prices has impacted exports, and local demand for yarn has also weakened. Increased selling by multinational companies and stockists has added to the pressure on cotton prices in the domestic market.
In Andhra Pradesh, Kapas prices weakened by Rs 150 and cottonseed by Rs 300. In Telangana, Kapas prices dropped by Rs 200.
In the domestic futures market, cotton prices showed a downward trend today. Kapas prices fell by Rs 6 to Rs 1,566 per 20 kg in the April-25 futures contract on NCDEX. Meanwhile, cotton prices dropped by Rs 180 to Rs 55,920 per candy in the July-24 futures contract on MCX.
The total cotton arrivals in these states were 1,200 bales. Andhra Pradesh's mandis recorded 1,000 bales, while Telangana saw an arrival of 200 bales. This is a significant decrease from the previous trading day when 2,700 bales were reported.
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(By CommoditiesControl Bureau: +91-9820130172)
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