New Delhi, April 12 (Commodities Control): Cotton prices remained stable for the second consecutive day on Friday in Andhra Pradesh due to limited demand from spinning mills, while consistent daily arrivals noted in the state mandis.
According to traders, mills are not increasing inventory in view of the decline in cotton prices in the world market. However, the outstanding stock of Kapas is less with the farmers of the state, while the stockists do not want to sell by reducing the price. Therefore, the chances of a big decline in its prices in the spot market are less. Cottonseed prices remained stable along with Kapas 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 20 to Rs 1,493 per 20 kg. During this period, cotton prices in May-24 futures contract on MCX weakened by Rs 520 to Rs 59,600 per candy.
The daily arrival of Kapas in the mandis of Andhra Pradesh today stood at 3,500 bales. On the previous trading day, the arrival of cotton remained the same.
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(CommoditiesControl Bureau; +91-9820130172)
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