Seed cotton arrivals pick up to 100,000 bales/day in India
All India seed cotton arrivals have picked up to approximately 100,000 bales per day and the quality is good in all the states, informs the fortnightly report from the Indian Cotton Federation.
At the moment and there is not much of damage to the standing cotton crop due to present rains and has in fact helped the standing crop after the weakening of the cyclone both over Gujarat and Andhra Pradesh.
Quoting trade sources, the report says that cotton yield may be very low in areas surrounding Adilabad in Telangana and in and around Wani in Vidharbha as plant height is very less compared to previous years, due to paucity of rains.
This situation may lead to a drop in the overall cotton crop of India to below 40 million bales due to unfavourable weather conditions from delayed and untimely and insufficient rains in many pockets of most cotton growing states like Gujarat, Maharashtra and Andhra Pradesh.
Meanwhile, the Central Government has asked the CCI to procure cotton with more procuring centres as the cotton prices are falling. CCI began their market operations in Telangana and Andhra Pradesh as the prices here have fallen below MSP level.
Seed cotton arrivals have started picking up in Haryana, Rajasthan and Punjab. Punjab J-34 r/g is priced at Rs 3410 per maund spot while Haryana J-34 r/g was priced at Rs 3310 per maund spot and Rajasthan J-34 r/g was quoted at Rs.3320.
Gujarat S-6 was quoted at Rs 32,200 spot to Rs 33,000 spot per candy and cottonseed arrivals are on the increase in the state.
The Marathawada region in Maharashtra has received untimely rain due to which, there is a drop in micronaire readings of cotton arrivals. Mech-1 was quoted at Rs 33,500 spot for good quality while in Marathwada cotton was priced at Rs 32,500 spot per candy.
Rains have been favourable and timely in the cotton growing regions of Madhya Pradesh. Good quality Bunny was quoted at Rs 33,500 spot per candy, and cottonseed arrivals are steady.
Good quality 30 mm Bunny at Adilabad in Andhra Pradesh was priced at Rs 33,500 spot per candy while good quality 31 bunny of Guntur was priced at Rs 35,000 spot per candy. Quality of cotton arriving in Warangal is the best in years and prices quoted are Rs 34,000 spot per candy.
Rains have been quite favourable to the standing crop till now in Karnataka and good quality Bunny of 29 mm was priced at Rs 33,500 spot per candy while 30 mm was quoted at Rs 34,200 spot per candy.
Shimoga Dch-32 of 35 mm was priced Rs 47,500 spot per candy while 34mm Dch-32 of Mysore was priced at Rs 45,000 spot per candy. 33 mm Dch-32 arriving in Chitradurga was quoted at Rs 41,500 spot per candy. Cottonseed arrivals are on the rise in the state.
In Tamil Nadu, mills have minimum cotton stock and huge unsold yarn stocks at the moment. Foreign cotton seems to be very attractive to purchaseat current price levels, so mills may opt to import cotton to meet their needs. At the same time, cotton crop is in good shape in most of the cotton tracts and arrivals also continue to be good. (AR)
Fibre2fashion News Desk - India