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ICF hikes cotton crop estimates on improved yield
Apr '14
The estimated cotton crop of India is 3 crores 75 lakh bales of which approximately 3 crore bales have arrived in the cotton market. Out of this 85 lakh bales have been registered for exports as per trade sources and 80 lakh bales of cotton has already been shipped. ICF at its board meeting held on 28.3.2014 revised upwards its cotton crop estimate from 361 lakh bales to 376 lakh bales as the yield has improved in Andhra Pradesh and Maharashtra. 
Director of Agriculture, Govt. of Tamil Nadu held a meeting on 28.3.14 at Chennai to discuss the implementation of the newly announced Rs.50 crore outlay of cotton development mission for Tamil Nadu to increase the area and yield of cotton. Our Hon. Secretary Shri A. Ramani attended. Cotton prices ruled steady and may go up once the arrival slows down. Quality lots are in demand.
During this fortnight, cotton arrivals are continuing with on an average daily arrival of 10000 bls. Cotton prices ranged Rs.4450 to 4600 per maund spot for roller ginned J.34 lots. Mills were cautious but trade transactions were normal. Exporters positioned along with domestic users in Mandies. Farmers group solicits more price support as cost of cultivation spiraled upwards. Group discussions also held on how to manage next sowing season. Hot summer prevailed now days.
In Gujarat, for the past 15 days, no major transactions reported, due to accounting year closing, as most ginners were not in a mood to sell, and expecting rates to go up, to sell their stock lots. Throughout the fortnight under reference, arrivals were about 45,000 to 50,000 bales per day. The ruling rates were around Rs.42,500 to Rs.42,800 /cdy spot, with micronaire about 3.8, quoted at a premium. As far as S.6 quality is concerned, many variations noted in Staple and Mic, and hence transactions were reported to be below normal.
The prices for good quality 28.5mm S-6 is Rs.43,000/-Spot per candy.26mm low quality S-6 is sold at Rs.36,500/-Spot per candy. Good quality V-797 r/g is quoted at Rs.27,000/-Spot per candy. Precleaned V-797 r/g is sold at Rs.29,000/-Spot per candy.
Quality is quickly deteriorating in most of the cotton centres. The hailstorms and showers last month may lead to increase in production of the kappas in the standing cotton plants in some irrigated pockets but quality may be poor. Good quality 29 mm Mech-1 in Wani is quoted at Rs.41,500/-Spot per candy. The lower types of 27.5 mm of low micronaire value is quoted at Rs.37,500/-Spot per candy.

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