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Cotton market rules steady in fortnight ending April 15
01
May '14
Out of 3 crore 75 lakhs bales of cotton crop predicted, approximately 3 crore 10 lakh bales have been pressed till 15th April as per trade sources and the daily kappas arrivals is quickly dropping to 95,000 bales per day.
 
As per trade sources till 15th April, approximately 95 lakh bales have been registered for exports of which approximately 80 lakh bales have been shipped. Cotton market ruled a steady trend during fortnight ending April 15. This may not sustain once the cotton arrival slows down.
 
Punjab /Haryana/Rajasthan:
The fortnight recorded a low volume on an average daily arrivals to less than 5000 bales. Cotton lint prices rallied steady tone between Rs.4500 to Rs.4625 per maund spot for roller ginned lots. Weather conditions are changing towards start of monsoon and farmers are engaging in land preparations. Farmers are in full hope to avail the best prices though, the demand for cotton lint is on an average trend. 
 
Gujarat:
In the fortnight, prices of S.6 were ruling steady. No bulk transactions were reported either in export, or in domestic sales. Arrivals dropped to around 35,000 to 40,000 bales per day out of all Indian average arrival of about 95,000 to 100,000 bales. Prices of 29 mm and 3.8 Mic S.6, has been ruling steady at around Rs.42,500 /cdy spot. 
 
As informed in our previous reports, still considerable volume of cotton is being held by Ginners, expecting market to improve. But, local traders said that cotton prices may come down during this week as international factors are not supportive. Demand from China is likely to decline and future market is also seen negative. Approximately 94 lakh bales have arrived in Gujarat till now. The price for Good quality S-6 is Rs.43,000/-spot per candy.V-797 r/g is quoted at Rs.24,000/-spot per candy.
 
Maharashtra:
Lower micronaire cotton of 25 mm is sold at Rs.37,000/-spot. Average quality 29 mm with low micronaire of 3 is quoted at Rs.40,200/-spot per candy. The quality of cotton from Vidharbha region too has dropped to 29 mm with micronaire of 3.6 and is sold at Rs.42,000/-spot per candy. Weather is hot with scanty rains in selected spots. Enquiries are normal. Daily Arrivals are around 30,000 bales.
 
Madhya Pradesh:
In Madhya Pradesh, prices of both MECH.1, 29 mm and Mic 3.8 quality and DCH.32, 34mm quality, are ruling steady without any change and volumes were low. The ruling prices for MECH.1 is Rs.42,000/cdy spot and for DCH.32 is Rs.58,500 to Rs.59,000 /cdy spot. Kappas arrivals reduced in volume amid steady demand.


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