New cotton starts arriving in few Indian states

10 Oct '14

3 min read

New cotton has started arriving in small quantities in Indian States like Punjab, Haryana, Rajasthan, Gujarat, Maharashtra, Andhra Pradesh and Karnataka. However, the quality is poor at present due to heavy rains in the last fortnight.

Yarn and cotton prices are falling drastically, leading to heavy losses to both, traders and mills, the latest ICF cotton report for the fortnight ending Sept 30, informs.

In its AGM held in the last week of September, ICF members forecast the cotton crop could be around 425 lakh bales for 2014-15 season.

Due to heavy rains in the last fortnight, new cotton arriving in the states of Punjab, Haryana and Rajasthan is full of black spots. New crop J-34 r/g is priced at Rs.3515/- per maund spot while old stock lots are priced at Rs.3675/-spot per maund.

In both, Haryana and Rajasthan, new crop J-34 r/g is priced at Rs.3550/-per maund spot, while old crop J-34 r/g in Rajasthan is priced at Rs.3600/- spot per maund

There has been heavy rainfall in the last fortnight in Gujarat and the new crop S-6 has started arriving in small quantities in areas surrounding Dhanduka. Here too, quality of new crop is poor and full of yellow and black spots and is selling at Rs.34,000/-spot per candy. The old crop S-6 stock lots are priced at Rs.36,000/-spot per candy.

Heavy rains have lashed many parts of Maharashtra in the last fortnight. Low micronaire Mech-1 cotton of 29mm is quoted at Rs.35,500/-spot per candy.

Rains have been favourable to the standing crop in Madhya Pradesh and good quality 29 mm Bunny cotton is priced at Rs.36,000/-spot per candy. Moisture content is high, due to heavy rains in the last fortnight.

In the Northern parts of Andhra Pradesh, in areas surrounding Adilabad, farmers are eagerly awaiting a good rainfall for their standing crop while there has been good rainfall in the last fortnight in areas surrounding Warangal, Khamam and Guntur.

Old crop 29 mm Bunny in Adilabad and Warangal is priced at Rs.37,000/-spot per candy and Guntur good quality 30mm Mcu-5 cotton is quoted at Rs.40,000/-spot per candy. New crop cotton is arriving in certain pockets near Adoni, but quality is poor due to heavy rainfall in the last fortnight.

At present, due to heavy rains in the last fortnight in Karnataka, average quality DCH-32 is arriving in terms of grade and is priced at Rs.48,000/-spot per candy while old crop Bunny is sold at Rs.39,500/-spot per candy. New crop Bunny is priced at Rs.36,500/-spot per candy.

Despite 20% power cut, textile mills in Tamil Nadu are not complaining due to the poor off take of their yarn stocks. Farmers in Tamil Nadu too have shifted to cotton sowing due to lower prices of soya and maize in comparison to cotton.

Cotton plants are in good shape in Tamil Nadu as the rains are helpful to retain needed moisture and cotton sowing is nearing completion. Farmers groups inform that they preferred cotton due to better price and delayed rain helped them to partly switch over to cotton. (AR)

Fibre2fashion News Desk - India

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