New Delhi, April 10 (Commodities Control): Cotton prices softened in Telangana on Wednesday due to weak demand from spinning mills, while a decline in daily arrivals of Kapas was recorded in the state mandis.
Cotton prices in Telangana have weakened as the state's spinning mills are purchasing cotton only as per requirement. However, today the prices of cotton have opened high in the foreign market, due to which there is no possibility of a big fall in its price in the domestic market. CCI has more outstanding stock of cotton in the state but CCI is selling cotton at higher prices. Kapas prices have fallen by Rs 100 in the states.
There was a declining trend in cotton prices in the domestic futures market today. Kapas prices in April-24 futures contract on NCDEX weakened by Rs 5.5 to Rs 1,520 per 20 kg. During this period, cotton prices rose by Rs 40 to Rs 61,700 per candy in the May-24 futures contract on MCX.
Daily arrival of Kapas in Telangana mandis today was 1,000 bales. In its last trading decade, the arrival of cotton was 1,500 bales.
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(CommoditiesControl Bureau; +91-9820130172)
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