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Cotton continues to rule stable in Andhra & Telangana amid limited enquiries

10 Aug 2022 3:12 pm
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NEW DELHI, Aug 10 (Commoditiescontrol) - Cotton prices quoted unchanged in the mandis of Andhra Pradesh and Telangana for the second consecutive day on Wednesday amid limited demand from spinning mills at increased prices, while daily arrivals remained steady.

According to the traders, the spinning mills are not getting parity at current prices of cotton, so they are buying cotton only as per the requirement. However, ginners are also not selling bales by reducing the prices due to lesser stock of cotton in the domestic market than last year, while the mills have a limited stock of cotton left. In any case, yarn prices could not rise in comparison to the recent rise in cotton prices. In such a situation, there is no possibility of a major fall in the prices of cotton in the spot market.

An uptrend was seen in cotton and kapas prices in the domestic futures market today afternoon with April'23 futures contract of kapas on the NCDEX edged higher by 0.09 percent. The August month cotton contract on the MCX also climbed by Rs 430 at Rs 48,760 per bale (1 bale -170 kg).

The daily arrival of cotton in the mandis of Andhra Pradesh and Telangana was 250 bales (1 bale -170 kg) today, unchanged from a day before. Of the total arrivals, 50 bales arrived in Telangana and 200 bales Andhra Pradesh.

Cotton prices were between Rs 10,000 to 11,320 per quintal in Telangana mandis and Rs 8,500 to 11,300 per quintal in Andhra Pradesh mandis.

Cottonseed prices ranged from Rs 3,700 to Rs 4,000 per quintal in mandis of Telangana and Rs 2,600 to Rs 4,000 per quintal in mandis of Andhra Pradesh.

In Guntur mandi of Andhra Pradesh, 29/29.5plus mm RD 71/73 variety of cotton traded at Rs 92,000 to 95,000 per candy (candy-356 kg), while 30 mm RD 71/73 variety new cotton traded at Rs 98,000-1,00,000 per candy, depending on the quality. 31 mm RD 76/77 new cotton with 15 percent moisture was priced at Rs 98,000-1,00,000 per candy.

In Adoni Mandi of the state, 29 plus mm RD 72/75 variety of cotton was traded at the rate of Rs 94,000 to 96,000 per candy (candy-356 kg).

In Warangal Mandi of Telangana, 29 plus mm RD 72/75 cotton traded at Rs 94,000 - 95,000 per candy.

In Adilabad Mandi, the price of RD 72/75 cotton of 29 plus mm variety was quoted at Rs 92,000-95,000 per candy.

In Bhainsa Mandi, the price of 29/29 plus MM variety of RD 72/75 cotton was quoted at Rs 95,000 to Rs 96,000 per candy.

(By Commoditiescontrol Bureau)


       
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