cotton industry | COTTON PRICE

Cotton Market Bulletin – 21st April 2023

Published: April 21, 2023
Author: DIGITAL MEDIA EXECUTIVE

Total Arrival : 1,22,500 Bales

MARKET OUTLOOK

  • North Indian cotton yarn prices remained stable due to challenges in the textile value chain and weak demand from the weaving industry.
  • Spinners faced higher costs for natural fibres but couldn’t pass on the increased production costs.
  • Imports of polyester spun yarn dampened market sentiment, and recycled yarn markets saw steady PC yarn prices.
  • ISLAMABAD-Textile exporters have warned that decline in cotton production in the country would cause a major reduction in exports during the current fiscal year.
  • ICE cotton futures dropped more than 3% on Thursday after a weekly federal report showed a decline in sales of the natural fiber, while forecast for rains added to the price pressure

    North Zone:

    Cotton traded easy tone across major spot market of north India on Friday. Prices were quoted down to 80-100 / maund yesterday evening. Today weather clear. New crop – cotton traded at ready delivery – In Punjab,  Rs 6,225-6,300 a maund. In Haryana, it offered at Rs 6,220-6,320 a maund. while in Upper Rajasthan, quoted readty delivery at Rs 6,425-6,525 a maund

    Central Zone:

    Cotton spot prices easy tone across west India market on Friday. Sankar-6, new crop 29 mm (RD-75 & MIC-3.8), in Gujarat traded at Rs 61,500-62,000 a candy and 28.5mm (RD-74) quoted at Rs.60,500-61,000 a candy. V-797 trade at Rs 48,000-48,500 (12-15% trash condition) a candy for ready delivery. While in Maharashtra, new crop good grade cotton (29mm) quoted at Rs 61,500-62,000 a candy

    South Zone:

    Cotton spot price was steady tone across the major trading centers of south India

  • INTERNATIONAL UPDATES

    US Cotton Futures :

    Limit Drop For May Cotton: May cotton closed a limit lower ahead of Monday’s First Notice Day. The other front months were also triple digits lower and closed near their lows for the session. Dec cotton was down by 292 points for the close, which brought the contract back to 3/27 levels. USDA’s weekly Export Sales report showed 62,08 RBs of cotton bookings for the week that ended 4/13. That was a 15-week low. New crop sales were 38k RBs for the week. Cotton commitments were at 11.83m RBs for old crop and 1.44m RBs for new crop. That is down 18% and 49% respectively compared to the same time last year,. The Cotlook A Index was 150 points higher to 98.15 cents. The AWP for cotton is 70.82 cents, up 77 points.

    May 23 Cotton  closed at 79.24, down 400 points,

    Jul 23 Cotton  closed at 80.09, down 356 points,

    Dec 23 Cotton  closed at 80.58, down 292 points

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