New Delhi, April 13 (Commodities Control): Cotton prices witnessed a decline in the markets of Andhra Pradesh and Telangana on Saturday, attributed to subdued demand from spinning mills and a decrease in daily arrivals in these states.
Traders say, cotton prices have declined due to reduced purchases from spinning mills in these states. Anyway, exports of cotton from the domestic market do not seem to be profitable, because the way cotton prices have recently declined in the world market, the prices in the domestic market have not weakened in proportion.
However, in the state of Andhra Pradesh, cottonseed prices weakened by Rs 100, while in Telangana its price declined by Rs 50. Farmers have less outstanding stock of Kapas, due to which there has been a decrease in daily arrivals, but at present the cotton prices are at Rs. There is no possibility of a big rise.
Today the daily arrival of Kapas in the mandis of Andhra Pradesh was 2,500 bales while in Telangana the arrival was 800 bales. In the last trading decade, the arrival of cotton in these states was 4,500 bales.
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(CommoditiesControl Bureau; +91-9820130172)
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