Cotton prices remain stable for fortnight ended Jan 31

03 Mar '14

4 min read

MAHARASHTRA

There is steady arrival of daily 50000-55000 bales. So far 30-35 lakh bales have arrived in the market. Plants were still in very healthy conditions in Marathwada and Khandesh region and still there are expectations of total arrivals of around 40 lakh bales.

This year further quality is also expected to be of good length. Rates of Maharashtra Cotton are for 31 mm, Rs.43,000 per candy spot, 30 mm Rs.42500-42800 spot and low MIC cotton at around Rs.41800-42000 per candy spot. Cotton arrivals were continuing all regional Mandies like Marathwada, Jalagon and Aurangabad. Cotton lint prices remained steady. Mills buying was slow. Demand persists.

MADHYA PRADESH

In M.P, MECH.1, 30mm (HVI) cotton with 3.8 mic is being quoted at Rs.42,700 to Rs.42,800 spot for prompt payment terms and DCH.32 is quoted at Rs.63,500 to Rs.64,500 spot, for 33mm to 34mm staple length. Export demand is subdued at present and last export business, was reported at 1.42 cts/ lb FOB, for Bangladesh, about one week back.

Seed cotton arrivals continued in leading mandies like Sendwa, Khargone etc. Cotton lint prices were steady and mixed. DCH 32 lots were in demand. Mills off take reported.

ANDHRA PRADESH

Cotton lint arrivals reported in Adilabad, Adoni etc Prices ruled firm. Mills demand continued to be steady. Quality deterioration reported.MCU5 ruled Rs.42500 to Rs. 43000 per candy spot.

KARNATAKA

Cotton arrivals are around 12000 bls a day on an average. Good demand for long staple and ELS lots.

TAMILNADU

Seed cotton arrivals continued in Konganapuram, Annur, Avinashi, Perambalur, Vizhuppuram Markets. Ruling prices of Kappas were fairly reasonable.

Due to water shortage Plant growth was stagnant. Sowing in Rice fallow belts of Thanjavur, Thiruvarur, Nagapattinam began. Mills off take is fair. Power shortage was minimum only. Textiles Industry’s Budget expectations are high.

INTERNATIONAL

Global cotton market displayed a lower trend with newyork prices around 84 cents per lb and A index 92.75 cents per lb. As per recent survey Chinas cottons production declined in 2013. China have adjusted import tariff for cotton for February 2014.

In Pakistan trade volume shrinks amid slow down. Brazilian State Tocantimes has been authorised to plant Bt cotton. Russia to stimulate cotton production. Ethiopia prepares for GM cotton. Bremen Cotton Conference to begin in 19.3.2014.

ICF

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