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Indian cotton arrivals down to 40,000 bales/day: ICF
16
May '15
All India pressing figures till April 30, 2015 are approximately 336 lakh bales, while all India arrivals have dropped to approximately 40,000 bales per day.

CCI has sold 6.68 lakh bales through e-auctions out of their procured stock of 86 lakh bales, while the Maharashtra Federation is holding a stock of 4.75 lakh bales procured by them.

According to an Indian Cotton Federation (ICF) report, unsold stocks lying with the ginners and traders are approximately 20 lakh bales.

The increase in duty drawback for garments exporters from 6 to 7.5 per cent and for export of yarn which has been increased from 2.08 to 3.10 per cent will offer boost to industry, it said.

As per trade reports, exports of raw cotton stands at approximately 50 lakh bales and CCI could release more stock to consuming mills to keep cotton lint prices steady.

ICF added that as per reports, CCEA has approved extra funds for government federations and CCI to meet losses on their MSP operations.

Union Cabinet also gave nod for more amendments to Company law with regards to declarations made before commencing business.

Farmers group are of the view that the cotton area may not shrink during 2015-16 season as land conditioning has begun in many cotton producing states.

ICF noted that in Punjab, Haryana and Rajasthan, arrivals of kappas are quite insignificant as season is at its end in this region.

The price quoted for good J-34 r/g in Punjab is Rs 3915 per maund spot while in Haryana it is Rs 3860 per maund spot and in Rajasthan it is Rs 3840 per maund spot.

Cotton sowing has already begun and there is good demand from farmers for BT and conventional varieties as per reports from many tracts from Northern India.

Cotton arrivals are being maintained at approximately 15,000 bales per day in Gujarat as the recent spell of hailstorm has taken a toll on the standing crops.

Good quality S-6 is quoted at Rs 36,100 spot per candy and good quality V-797 R/G is priced at Rs 26,000 spot per candy.

The daily kappas arrivals in Maharashtra is approximately 10,000 bales and price quoted for good quality Mech-1 is Rs 36,500 spot per candy.

In Madhya Pradesh, the daily kappas arrival is very insignificant and prices quoted for good quality Bunny is Rs 36,800 spot per candy.

The daily kappas arrivals have dropped drasticallyin Andhra Pradesh and ginners have become active after increase in cotton price in the last fortnight.

The price quoted for good quality 31 mm Guntur Mcu-5 is Rs 36,800 spot per candy and good quality 30m Bunny of Warangal is priced at Rs 35,500 spot per candy and 29mm Bunny of Adilabad is priced at Rs 34,500 spot.

In Karnataka too, kappas arrivals have dropped drastically as farmers are slowly bringing in their kappas stored by them both in North Karnataka and Raichur.


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