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Cotton maintains downtrend in Andhra & Telangana amid subdued buying

1 Oct 2022 7:38 pm
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NEW DELHI, Oct 1 (Commoditiescontrol) : Cotton prices eased in the mandis of Andhra Pradesh and Telangana for the third consecutive day on Saturday as buying from spinning mills remained sluggish, while daily arrivals were reported lower.

The weather remained clear in Telangana, but there has been light rain at some places in Andhra Pradesh. According to the traders, the spinning mills of these states are currently procuring cotton only as per their requirement. If the weather remains clear, the arrival of new cotton will increase in the mandis of these states in the current month and considering the weather so far, the production of cotton in these states is expected to be higher. The produce that is arriving in the mandis at this time has higher moisture content. In such a situation, the prices of cotton in these states are expected to come down further.

In Telangana, cotton sowing has been reduced to only 20.24 lakh hectares in the current kharif season, as against 20.62 lakh hectares over the same period of the last kharif season.

In Andhra Pradesh, cotton has been sown in 6.53 lakh hectare in the current kharif season, as against 4.93 lakh hectares in the same period of last kharif season.

According to the India Meteorological Department (IMD), in the current season from October 1 to September 30, Telangana has received 46 per cent above normal and Andhra Pradesh 10 per cent more than normal rainfall.

The daily arrival of cotton in the mandis of Andhra Pradesh and Telangana was 1,300 bales (1 bale -170 kg) today, down from 1,400 bales a day before. Of the total arrivals, 100 bales arrived in Telangana and 1,200 bales in Andhra Pradesh.

Cotton prices were at Rs 7,500- 8,450 per quintal in Telangana mandis and at Rs 8,000 to 9,450 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 3,700 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 60,000 to 65,000 per candy (candy-356 kg), while 30 mm RD 71/73 variety new cotton traded at Rs 66,000-72,000 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 70,000 - 74,000 per candy (candy-356 kg).

In Warangal Mandi of Telangana, 29 plus mm RD 72/75 cotton traded at Rs 68,000 - 74,000 per candy.

In Bhainsa Mandi, the price of 29/29 plus MM variety of RD 72/75 cotton was quoted at Rs 70,000 to Rs 76,000 per candy.


(By Commoditiescontrol Bureau)

       
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