5.86mn cotton bales have arrived in Indian markets – CCI

26 Dec '12

4 min read

Cotton Corporation of India (CCI) has started procurement of Kappas from Madhya Pradesh, Orissa and Karnataka in addition to Andhra Pradesh where they have already procured approximately 7 lakh bales of 170 kgs bls.

As per reports, they are also ready to open operations from other major cotton producing States. CCI has estimated that approximately 50.86 lakhs bales have arrived in the market till the 10th of December.

PUNJAB, HARYANA AND RAJASTHAN:

Daily Kappas arrivals are approximately 15000 bales in the North Zone alone. At higher prices, Mills are not very eager to buy and there is a constant fluctuation in the market sentiments here. Punjab J-34 r/g was quoted at Rs.3620/- per maund spot while in Haryana J-34 r/g was quoted at Rs.3545/- per maund spot and in Rajasthan J-34 was quoted at Rs.3525/- per maund spot. Bengal Desi was quoted at Rs.3850/- per maund spot.

GUJARAT:

Daily kappas arrivals were approximately 30,000 bales in Gujarat.Good quality S-6 was transacted at Rs.34200/- Spot per candy. While V-797 r/g was quoted at Rs.29500/- Spot per candy.

MAHARASHTRA:

Daily Kappas arrivals were approximately 30,000 bales. Good quality Bunny was transacted at Rs.33,700/- Spot per candy, while low micronaire cotton was sold at Rs.33,000/- Spot per candy. Quality in the Vidharbha region is very good at the moment.

MADHYA PRADESH:

Good quality bunny was quoted at Rs.33,600/- Spot per candy .The quality in this region is very good and prices are also reasonable. Good quality Dch-32 was quoted at Rs.46,500/-Spot candy.

ANDHRA PRADESH:

On one side, most of the ginners have handed over their factories to CCI due to lack in parity in prices in the cotton market, while on the other side farmers too are more eager to sell their produce to CCI because of the MSP price attraction of Rs.3900/- per quintal which private Ginners are unable to give. CCI has not yet quoted in their price list quotations for the approximately 7 lakh bales procured in the State till now.

In many parts of Guntur and Warangal and many other areas Ginners are on strike right now and therefore the ginning activities is at a stand still at the moment. Good buying was reported from spinning Mills from North as well as Tamilnadu and local Spinning mills are also buying apart from some exporters active in Adilabad and various other centres. Quality is not satisfactory at the moment as the grades are moderate due to lack of parity to the Ginners at existing price levels.

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