Cotton market rules steady in fortnight ending April 15

01 May '14

4 min read

Andhra Pradesh:

Good quality 29 mm cotton of Karimnagar is quoted at Rs.43,500/-spot per candy. Good 29 mm is quoted at Rs.43,500/-spot per candy. Despite hot weather, cotton arrivals were not bad. Around 20,000-25,000 bales arrived in markets on a daily basis.

Karnataka:

Good quality 29mm Bunny in North Karnataka area is quoted at Rs.43,500/-Spot per candy. While for 30mm, ginners of North Karnataka are selling at Rs.44,250/-Spot per candy and Jayadhar is sold at Rs.32,500/-Spot per candy. Good quality Dch-32 of 35 mm is sold at Rs.63,000/-Spot per candy.

Tamil Nadu:

Arrivals continued and lint prices are steady. Mills are experiencing quality related problems and unable to spin with proper input mix. Quality of yarn could create problems in marketing yarn and finished goods.

Already 2 lakh plus bales have arrived so far during current season. Water shortage is being experienced in many tracts as summer sowing is on. CCI has planned FLD’s in few areas to encourage cotton acreage in Tamil Nadu. Yarn movement is fluctuating and power cut problems are experienced by mills.

International:

Global cotton prices seem to be on a downtrend with 90 cents per lb on April 15 and Cotlook A index at 93.85 cents per lb. This is 3 to 5 cents lower than March 31. As reported in earlier news reports, China’s cotton storing and import policy could be a yardstick to identify the cotton price tags.

U.S cotton planting report indicates a seven percent increase in acreage over 2013. ICAC also predicts a higher acreage and a cotton production of 3.2 million tons with an average yield of 930 kgs per hectare.

Pakistan has imposed a 5% duty on cotton yarn imports to support domestic Industries.

ITMF has approved updates to the guidelines for standardized instrument testing of cotton as per reports. Cotton exports from Uganda is picking up. Egypt’s cotton exports fell by 42 % in 2013-14.

ICF

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