The area of cotton sowing has increased in a few states like Madhya Pradesh, Karnataka, Andhra Pradesh (where sowing is still in progress in some parts) and Tamil Nadu. Approximately 94 lakhs of bales have been shipped out of the Country in the current season till now as per unconfirmed reports as there is no data available in the DGFT website to confirm.
The fall in the rupee value to the dollar has made import of Cotton unviable and helpful for export of Yarn to the Textile Mills. As per DOCD the cotton sown so far touched 105.06 lakh hectares for 2013 against 97.24 lakh hectares in 2012.
PUNJAB, HARYANA AND RAJASTHAN
Arrivals here are very meagre at 400 bales per day. Good quality Punjab J-34 r/g was quoted at Rs.4575/- spot per maund while in Haryana J-34 r/g was quoted at Rs. 4500/- per maund spot and in Rajasthan J-34 r/ g was quoted at Rs.4460/- per maund spot and Bengal Desi s/g was priced at Rs.4100/- per maund spot.
Ginners are eager to sell their cotton stocks due to the prevailing weakness in all commodities. Recent report indicated moisture stress all over as the irrigation canals are dry in many tracts. Flowering condition are reported by Farmers group. Acreage is a bit more than last season.
There has been very good rainfall in areas surrounding Surendra Nagar and many parts of Gujarat. Good quality S-6 was quoted at Rs.42,500/-Spot per candy while good quality V-797 r/g was priced at Rs.29,000/ -Spot per candy. Ginners are eager to sell their stocks at the moment. Cotton area sown is reported to be 25-30% more than last season same time.
Daily arrivals dropped to 1,000 to 1,500 bales and kappas rate of S.6, was ruling around Rs.1,070 to Rs.1,100 per maund spot during beginning of this fortnight. Prices are under constant pressure due to expectations of good monsoon rains. Prices S.6 was ruling in the following range. S.6 - Rs.42,700 to Rs. 42,200 (as on 30.7.13) / candy spot for 29mm and 3.8 Mic cotton. V-797, rates were ruling steady at around Rs.29,000 to Rs.29,200 per candy spot for 22 mm quality.
Bargains reported hand to mouth, from local traders and South based mills, during preparation of this report.
Good rainfall is reported in Vidharba and Khandesh and many parts of Maharashtra has been favourable to the standing Cotton crop. Kappas arrivals is almost nil at the moment. Good quality Mech-1 was sold at Rs.43,300/-Spot per candy. While low micronaire cotton was sold at Rs.40,000/-Spot per candy. Here the so far acreage almost nearing to last year.
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