By – Navneet Saini
Gohana – Haryana – India
0091-94168-73758
-North India 24000
-MP 11000
-Gujrat 46000
-Maharashtra 19000
-Karnataka 12000
-Andhra Pradesh 10000
-Telangana 12000
-Tamil Nadu 1000
-Others 500
Total Arrivals :135500+-3%.
Highest Arrivals of the season today.
-Arrivals steadily increasing all over country. picking is in full pace. Narma (Seed Cotton) decreased today in the physical market in the North approx. 100 to 200.in physical market.
Same downtrend in Gujrat and Maharashtra, raw cotton prices 8700 to 9800 today.
-All Gujrat APMC’s opens, now good arrivals start approx. 15 to 17 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 good today..farmer selling started arrivals will be continuous from onwards.
Maharashtra arrivals picking up slowly. But local farmers are still reluctant to sell. arrivals are negligible in vidarbha region.
-Today Cotton traded downside due to International Market and lack of major physical buying by local mills..good buying was seen in last week, after weakness for 3 days, today buying weak. today current prices market is down approx. 50 to 80 per Maund. Today cotton price in North India is 6600 to 6800 per maund.
-Cotton seed minus today due to khal and oil minus in physical, today buyer weak and reseller active in good centers, prices declined 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 flat to 30 to 50 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 3850 south spot.
-Further arrivals will improve in coming days, after all APMC’s open, rest depends on weather and prices.
-Oil market looks flat to upside today after profit bookings in last few days. The stable wash price market may turn positive from next week.
-Weather in North, Mp and Gujrat cleared no more significant rains expected as of now in this area, South India almost clear weather will remain clear in next few days. Monsoon withdrawal almost completed. Still scattered rains expected in southern peninsula mainly in Karnataka and Tamil Nadu.