By – Navneet Saini
Gohana – Haryana – India
All India Cotton Arrivals:
-North India 24000
-Andhra Pradesh 8000
-Tamil Nadu 1000
Total Arrivals :118000+-3%.
-Arrivals steadily increasing all over country picking is in full pace Narma price decline today in physical market in North approx 100 to 200 in physical market.
But there was some uptrend in Gujrat and Maharashtra, raw cotton prices 9200 to 9700 today.
-All Gujrat APMC’s opens, now good arrivals start approx 14 to 16 thousand, rest directly coming to ginning but arrivals still low despite as good crop…Farmers still hoping for price rise.
One major observation is that almost one third of arrivals come in Gujrat only, that’s why no major pressure is observed all over.
MP arrivals are very few today, as it’s a state holiday due to Birsa Munda jaynti ,farmer selling started arrivals will be continuous from onwards.
-Today Cotton traded downside due to less physical buying by local mills..good buying was seen in last week, but today current prices market is down approx. 50 to 100 per maund. Today cotton price in North India is 6600 to 6800 per maund.
-Cotton seed down due to khal and oil both minus in physical, today buyer weak and reseller active in good centers, prices increased in some station other stations almost flat to downside due to good Arrivals. Buyer is not interested at all in forward but ready for ready load, Khal demand weak…no bulk buying is observed due to high rates, today no major business in seed and cake till now, full pressure in physical market, today in Khal some centers 50 to 70 minus all over.
-South Cotton seed bargains speedily up for north as arrivals improve in Telangana, this year quality is superior after long, today very good bargains from South side prices also increase but buyer not much interested. Price range 3000 to 3950 south spot.
-Further arrivals will improve in coming days, after all APMC’s open, rest depends on weather and prices.
-Oil market looks weak today after profit bookings. Wash price declined from yesterday today prices declined 1.5 to 2 rupees per kg.
-Weather in North, Mp and Gujrat cleared no more significant rains expected as of now in this area, South India almost clear. The weather will remain clear for the next few days. Monsoon withdrawal almost completed. Still scattered rains expected in southern peninsula mainly in Karnataka and Tamil Nadu.