Home / Knowledge / News / Textiles / CCI receives good response to cotton e-auction: ICF
CCI receives good response to cotton e-auction: ICF
14
Jul '15
According to the latest cotton report of the Indian Cotton Federation (ICF), Cotton Corporation of India (CCI) has managed to get a good response to their e-auctions recently.

“Mills are buying for their near future requirements and exporters and big traders are buying in bulk quantities as per their assessment of the cotton market trends,” the report informed.

The unsold cotton with CCI as per market reports is approximately 62 lakh bales out of their total procurement of 86 lakhs bales in the current season.

Also as per market reports, the unsold cotton stock lying with cotton traders, ginners and MCX is approximately 12 lakh bales.

“The turmoil in Greece has put Indian hosiery garment exporters in a peculiar situation, although it seems temporary,” the report added.

There has been a drop of Rs 13 per kg of hosiery yarn produced by spinning mills which were doing well all through the year, which has lead to these mills slowing down their cotton procurement.

Cotton sowing is in progress in some pockets of Maharashtra near Beed, as rains have been good till now.

However, Saurashtra region in Gujarat may see a drop in cotton sowing which may be compensated by increase in sowing in states like Madhya Pradesh, Telengana and Andhra Pradesh.

Approximately 70 per cent cotton sowing has been completed in major cotton growing states wherever rains have been timely.

In Amreli district in Gujarat, re-sowing will take place because of the recent floods in this region of Saurashtra.

However, as per reports, khariff sowing is up by more than 50 per cent in this cotton belt than in the same time last season.

Quoting experts, the report added that yarn movement is reported to be slow and may affect the cycle of funding for cotton purchase.

In Punjab, Haryana and Rajasthan, cotton sowing is almost complete. Good quality Punjab J-34 R/G was sold at Rs 3,830 per maund spot while in Haryana, good quality J-34 R/J was sold at Rs 3,730 per maund spot.

In Gujarat, cotton sowing is in progress and in Saurashtra which produces 80 per cent of cotton in Gujarat; farmers are shifting to groundnuts and pulses as they feel it to be more remunerative.

Due to delay in monsoon in Kutch region, in areas bordering Rajasthan and North Gujarat, sowing is yet to be completed and Anjar in Kutch region has not received sufficient rainfall for sowing cotton.

The price for good quality S-6 was quoted at Rs 34,800 spot per candy while V-797 R/G was quoted at Rs 25,500 spot per candy.

Monsoon has been delayed in some pockets of Marathwada and Vidharbha in Maharashtra due to which sowing is yet to take place, while in Khandesh region, sowing is progressing well.

The monsoon has been good in Madhya Pradesh and cotton sowing is in progress and might see an increase in the sowing area in this region which will benefit cotton spinning mills in the state.

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X