New Delhi, April 18 (Commodities Control): Cotton prices exhibited a mixed trend in the markets of Andhra Pradesh and Telangana on Thursday due to limited demand from spinning mills, while daily arrivals of Kapas in these states remained stable.
In Andhra Pradesh, cotton prices remained stable, while in Telangana, prices witnessed a decline. Traders noted that spinning mills in these states are purchasing cotton only as per their immediate requirements. Meanwhile, recent declines in cotton prices in the foreign market have made export deals less profitable. Moreover, there is only a limited quantity of outstanding Kapas stock left with farmers in these states, and stockists are hesitant to sell at reduced prices.
Consequently, there is little likelihood of a major decrease in current cotton prices. In Andhra Pradesh, Kapas prices decreased by Rs 100, while cottonseed prices increased by Rs 200. Meanwhile, Kapas prices in Telangana dropped by Rs 200.
There was a mixed trend in cotton prices in the domestic futures market today. Kapas prices in the April 2024 futures contract on NCDEX decreased by Rs 17 to Rs 1,466.5 per 20 kg. However, cotton prices in the May 2024 futures contract on MCX rose by Rs 260 to Rs 57,850 per candy.
Today, the daily arrival of Kapas in the mandis of Andhra Pradesh was 2,500 bales, while in Telangana, it was 600 bales. This arrival figure remained unchanged from the previous trading day in both states.
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(CommoditiesControl Bureau; +91-9820130172)
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