New Delhi, June 26 (Commodities Control): Cotton prices increased in the markets of Andhra Pradesh and Telangana on Wednesday due to heightened demand from spinning mills. Meanwhile, daily arrivals of cotton remained stable in these states.
The weather is cloudy in Andhra Pradesh, while it remains clear in the cotton-producing areas of Telangana. According to traders, the rise in cotton prices is driven by increased purchases by the spinning mills in these states. The Cotton Corporation of India (CCI) has raised the selling price of cotton by Rs 500 to Rs 600 per candy this week. Additionally, there has been a surge in mill purchases from CCI. Cotton prices also saw a significant rise in the global market on Tuesday, leading to expectations of further price increases in the domestic market. In Telangana, cottonseed prices increased by Rs 100.
Today, the domestic futures market continued its upward trend for cotton prices. On NCDEX, the price of Kapas for the April-25 futures contract rose by Rs 1 to Rs 1,628 per 20 kg. Similarly, on MCX, the price of cotton for the July-24 futures contract rose by Rs 410 to Rs 59,300 per candy.
The arrival of cotton in these states was recorded at 1,800 bales, with Andhra Pradesh contributing 1,500 bales and Telangana contributing 300 bales. The arrival numbers were consistent with the previous trading day.
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(By CommoditiesControl Bureau; +91-9820130172)
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