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Rupee depreciation motivates cotton buying in India
30
Dec '13
Till date nearly 1 crore bales have arrived in the market and approximately 2.75 crore bales are yet to arrive in the Indian market. Mills and exporters are cautiously procuring cotton considering the financial tightness in the market.

The fall in the rupee to the dollar has motivated the exporters and the Textile Mills to continue buying cotton cautiously as the international markets are sluggish. The cotton lint prices kept a steady to firm trend. Farmers were quite cautious to move the seed cotton to market and hold the stock instead of rushing to mandis since they expect more price support. Farmers group started monitoring even global supply situation and China strategy in particular.

As per ISCI, 95% of Indian Cotton are of Bt seeds. More young and women Farmers were attracted to BT cotton Technology. Shri. Sharad Pawar, Hon. Union Agriculture Minister speaks full support to Bt technology as majority farmers gained in yield and cost on Bt Cotton cultivation.

NORTH ZONE [PUNJAB /HARYANA/RAJASTHAN]

Cotton lint prices remained stready trend with a uplook of firm tendency. Seed cotton arrivals are continuing on an average quantity of 16000 bales a day. Weather during this fortnight is reported to be normal with winter fog etc. Plants so far are healthy with no pest attacks. Farmers and Ginners hold stocks as they expect more price per maund.J.34 roller ginned ruled Rs.3850 to 4100 spot per maund.

GUJARAT:

From the beginning of this month, till date, daily arrivals in Gujarat picked up from about 60,000 bales a day to 65,000 bales, out of total All India arrivals of around 1,98,000 bales. Price of S.6 was consistently ruling around Rs. Rs.39,000/cdy spot, throughout this fortnight. As mentioned, during the last fortnight report, daily arrival of S.6 kappas was, less in quantity when compared to the same period last year, due to Farmers reluctance to sell at around Rs.960 per Maund ( Rs,4,800 per Qtl), anticipating Rs.1,000 per maund (Rs.5,000 per Qtl).

The steady trend in S.6 rates, were attributed due to this factor, besides Export demand noticed on day to day basis. The arrivals are quite good and both Mills and exporters are actively procuring as per their immediate requirements. Daily kappas arrivals have touched 65000 bales. The prices for good quality S-6 is Rs.39,500/- Spot per candy. North Mills are actively procuring at the moment.

MAHARASHTRA:

The Farmers are reluctantly bringing kappas in the market because farmers here want a price of Rs.6000 per quintal and considering the sluggishness in the Textile industry, the government is helpless to increase the kappas prices as the quality too is not upto the mark with many areas in Marthwada is facing low micronaire problems. The prices for good quality cotton of Maharashtra Mech-1 is Rs.38,800/- Spot per candy

MADHYA PRADESH:

In M.P, MECH.1-30mm (HVI) were ruling around Rs.38,900 to Rs.39,200 /cdy spot. As for as DCH.32 Crop is concerned, prices started moving up from Rs.58,500 to Rs. 66,500/cdy spot, due to continuous buying by both by local Mills as well as exporters . As on 15.12.13, export enquiry was reported at 142 cts/lb CIF against Ginners demand of 147 Cts/ lb CIF, Bangla Desh Ports. Indian mills are hesitant buyers of MP DCH.32, due to high micronaire observed at around 4.0 which is unusually high, even though Staple length, G.Tex is better than last season.

According to Ginners point of view, this year, DCH.32, seeds sown are different and better than last season The quality in this region is very good and is consistently in good demand from many of the Mill consumers. The price for good quality bunny is quoted at Rs.39,000/- Spot per candy and good quality Dch-32 is priced at Rs.65,000/- Spot per candy.


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