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Cotton improves in Andhra & Telangana amid increased buying, steady arrivals

28 Sep 2022 8:48 pm
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NEW DELHI, Sept 28 (Commoditiescontrol) : Cotton prices improved in the mandis of Andhra Pradesh and Telangana on Wednesday amid increased buying from spinning mills, while daily arrivals remained unchanged.

According to traders, the prices of cotton have improved in the state's mandis, but the procurement by the mills at the increased prices remained weak. The arrival of new cotton will increase in the mandis of these states next month and keeping in view the weather so far, the production of cotton in these states is expected to be high, as well as the demand for dry goods will increase. Therefore, the procurement of spinning mills of the states is expected to decrease. Therefore, cotton prices in the spot market are likely to be bearish going forward. On the other hand, the prices of cotton have also come down in the foreign market, due to which exports from the domestic market are not taking place.

The daily arrival of cotton in the mandis of Andhra Pradesh and Telangana was 2,200 bales (1 bale -170 kg) today, unchanged from a day before. Of the total arrivals, 100 bales arrived in Telangana and 2,100 bales in Andhra Pradesh.

Cotton prices were at Rs 8,000- 8,410 per quintal in Telangana mandis and at Rs 8,000 to 9,455 per quintal in Andhra Pradesh mandis.

Cottonseed prices ranged from Rs 2,700 to Rs 3,100 per quintal in mandis of Telangana and Rs 2,600 to Rs 3,800 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 65,000 to 70,000 per candy (candy-356 kg), while 30 mm RD 71/73 variety new cotton traded at Rs 70,000-74,000 per candy, depending on the quality.

In Adoni Mandi of the state, 29 plus mm RD 72/75 variety of cotton was traded at the rate of Rs 72,000 - 77,000 per candy (candy-356 kg).

In Warangal Mandi of Telangana, 29 plus mm RD 72/75 cotton traded at Rs 70,000 - 76,000 per candy.

In Bhainsa Mandi, the price of 29/29 plus MM variety of RD 72/75 cotton was quoted at Rs 75,000 to Rs 80,000 per candy.


       
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