New Delhi, May 15 (Commodities Control): For the fourth consecutive trading day on Saturday, cotton prices in the markets of Andhra Pradesh and Telangana remained stable due to limited demand from spinning mills.
Clouds loom over the cotton-producing areas of Andhra Pradesh and Telangana. According to traders, the weak demand for yarn has led spinning mills in these states to purchase cotton in limited quantities, keeping prices stable. However, ginning mills in the region are not profiting at current cotton prices, resulting in reduced selling. Consequently, there is no expectation of a rise in cotton prices in the domestic market.
The Indian Meteorological Department (IMD) reports 29 percent more rainfall than normal in Telangana and 104 percent more in Andhra Pradesh from June 1 to June 14.
The arrival of cotton in these states was 2,700 bales. In Andhra Pradesh, today's cotton arrival was 2,500 bales, while Telangana saw an arrival of 200 bales, consistent with the previous trading day.
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(By CommoditiesControl Bureau: +91-9820130172)
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