By: Navneet Saini
All India Cotton Arrivals:
-North India 22000
-Andhra Pardesh 9000
-Tamil Nadu 1000
Total Arrivals :124500+-3%.
Arrivals were a little low today due to the price decline yesterday and Saturday.
-Arrivals are a little down but expected to increase all over the country from Monday. picking is in full pace. Narma prices decreased today in the physical market in North approx. 150 to 200. in the physical market.
Same downtrend in Gujrat and Maharashtra, raw cotton prices 8800 to 97000 today.
-All Gujrat APMC’s opens, now good arrivals start approx. 15 to 17 thousand, rest directly coming to ginning but Arrival 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 almost stable Toddy. Farmer selling started arrivals will be continuous from onwards.
Maharashtra Arrival picking up slowly. But local farmers are still reluctant to sell arrivals are negligible in Vidarbha region.
-Today Cotton traded flat to down 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 the current prices market is flat. Today cotton price in North India is 6600 to 6850 per Maun.
-Cotton seed minus today due to Khal and oil minus in physical, full panic seen in seller, 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 3750 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 wash price stable 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.