Cotton Prices Decline in Telangana Amid Spinning Mills'' Weak Demand

New Delhi, April 12 (Commodities Control): Cotton prices softened in Telangana on Friday, reflecting weak demand from spinning mills.

Despite the decline, traders are cautious about expecting a significant drop as Cotton Corporation of India (CCI) holds the largest stock of cotton in the state and is selling cotton at a price higher than the market rate, which limits the potential for a sharp decline in prices. Moreover, farmers in the state have relatively less outstanding stock of Kapas. Kapas and cottonseed remained stable in the region.

In the domestic futures market, there was a downward trend in cotton prices. The April-24 futures contract for Kapas on NCDEX weakened by Rs 20 to Rs 1,493 per 20 kg, while the May-24 futures contract for cotton on MCX saw a decline of Rs 520, closing at Rs 59,600 per candy.

Today's daily arrival of Kapas in Telangana mandis stood at 1,000 bales.



(CommoditiesControl Bureau; +91-9820130172)