New Delhi, May 4 (Commodities Control): Cotton prices maintained stability in the markets of Andhra Pradesh and Telangana on Saturday, with limited demand from spinning mills, while daily arrivals of Kapas in these states remained unchanged.
Traders indicated that spinning mills in these states are procuring cotton only as needed, given the weak offtake of yarn. Additionally, the recent decline in cotton prices in the global market has rendered cotton exports unprofitable. Despite relatively lower outstanding stocks of cotton with spinning mills in these states, the prospects for a significant rise in cotton prices appear limited.
Arrivals of cotton in these states totaled 2,500 bales. Today's daily arrivals of Kapas in the mandis of Andhra Pradesh amounted to 2,000 bales, while in Telangana, it stood at 500 bales. These figures were consistent with the previous trading day's arrivals.
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(By CommoditiesControl Bureau: +91-9820130172)
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