ICF hikes cotton crop estimates on improved yield

MADHYA PRADESH

In M.P, steady trend was prevailing in both 29 mm Mech.1 with Mic 3.7 + andDCH.32 – 34mm + Cottons. MECH.1, transacted at around Rs.42,500 to Rs.42,600 /cdy spot and DCH.32 at Rs.59,500 to Rs.60,000/cdy spot, depends on staple and grade.

The estimated cotton crop of India is 3 crores 75 lakh bales of which approximately 3 crore bales have arrived in the cotton market. Out of this 85 #

 

This season both MECH.1 and DCH.32, quality suffered, to a great extent, due to unfavorable weather conditions, like intermittent unseasonal rains due to which grade of cotton affected. But, export was going on as usual to Bangaladesh and Pakistan, as there is no alternative cotton available at par with DCH.32 rates.

 

ANDHRA PRADESH

The arrivals are still continuing in some pockets like Nandyal, Warangal and Khamam. Good quality 29mm cotton is quoted at Rs.41,500/- Spot per candy in Adilabad and 30 mm good quality cotton is priced at Rs.42,500/-Spot per candy in Warangal. Cotton in most of the areas have length variations as farmers are bringing their old stock kappas mixed with their last picked kappas.

 

KARNATAKA

The arrivals are quickly dropping in most of the cotton centres of North Karnataka. Good 28mm cotton is sold at Rs.41,200/-spot per candy. In Raichur 29mm is sold at Rs.42,500/-spot.per candy. 30mm cotton is sold at Rs.43,500/-spot per candy. But all the cotton at present has length variations as Farmers are bringing their old stocked kappas with their last pick kappas. Plants are being removed and the season is coming to a close in North Karnataka in areas surrounding Ranebennur, Hubli and Bijapur.

 

TAMILNADU

During the current fortnight, the cotton arrivals continued in many markets Panruti, Vizhuppuram, Konganapuram etc. Summer sowing is also on. Govt. of Tamilnadu is planning to increase the area in cotton through the newly announced cotton development mission. Mills demand is modest. Power disturbances are rampant. Stock movement also slows.

 

INTERNATIONAL

The New York Futures is settling down at around 92.5cents per lbs with A index at 98.10 per lb. Cotton export from India may fall as per reports. Cotton cultivation in China may fall by 10% in this year since change in cotton storage policy. Brazil will have higher acreage of cotton which will boost cotton production. Turkmenistan plans to harvest 1.05 million tones of cotton this year. Cotton sowing was delayed in Uzbekistan. Mali’s cotton production is as per forecast. Mexican state Chihuahua is leading in cotton production. Vast potential is expected for cotton production in Zambia.