New Delhi, June 22 (Commodities Control): Cotton prices remained stable in the markets of Andhra Pradesh and Telangana on Saturday due to limited demand from spinning mills. Daily arrivals of Kapas also remained stable in these states.
Clouds are hovering over the cotton-producing areas of Andhra Pradesh and Telangana. According to traders, local demand for cotton yarn is not increasing as expected, and the recent weakening of cotton in the world market has led to a lack of new export deals. Consequently, spinning mills in these states are purchasing cotton in limited quantities, keeping prices stable. The Cotton Corporation of India (CCI) holds a significant stock of cotton in these states and is selling at higher prices than those in the spot market.
The Indian Meteorological Department (IMD) reported that from June 1 to June 21, Telangana received one percent more rainfall than normal, while Andhra Pradesh received 75 percent more rainfall than normal.
Today, the arrival of cotton in these states totaled 1,300 bales. Andhra Pradesh markets received 1,000 bales, and Telangana markets received 300 bales, the same numbers as on the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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