Cotton Market Bulletin - 21th February 2023
Yarn Prices as on 21th February 2023: | Prices FOB / Kg Indian Port |
| LC at Sight: |
Ne 20/1 Carded Hosiery Yarn | USD 2.90 / INR 239.00 |
Ne 20/1 Combed Hosiery Yarn | USD 3.14 / INR 259.00 |
Ne 21/1 Carded Weaving Yarn | USD 2.90 / INR 239.00 |
Ne 26/1 Combed Hosiery Yarn | USD 3.20 / INR 264.00 |
Ne 30/1 Carded Hosiery Yarn | USD 3.12 / INR 257.00 |
Ne 30/1 Combed Hosiery Yarn | USD 3.27 / INR 270.00 |
Ne 32/1 Carded Weaving Yarn | USD 3.18 / INR 262.00 |
Ne 34/1 Combed Hosiery Yarn | USD 3.48 / INR 287.00 |
Ne 40/1 Combed Hosiery Yarn | USD 3.62 / INR 299.00 |
Ne 40/1 Carded Weaving Yarn | USD 3.38 / INR 279.00 |
Ne 30/2 Carded Hosiery Yarn | USD 3.38 / INR 279.00 |
Ne 32/2 Combed Knitting Yarn | USD 3.78 / INR 312.00 |
Ne 32/2 Carded Hosiery Yarn | USD 3.44 / INR 284.00 |
Ne 40/2 Combed Hosiery Yarn | USD 4.17 / INR 344.00 |
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Ne 30/1 Combed Compact Weaving Yarn | USD 3.44 / INR 284.00 |
Ne 40/1 Combed Compact Weaving Yarn | USD 3.75 / INR 309.00 |
Ne 50/1 Combed Compact Weaving Yarn | USD 4.05 / INR 334.00 |
Ne 16/1 Open End Yarn | USD 2.35 / INR 194.00 |
Ne 21/1 Open End Yarn | USD 2.53 / INR 209.00 |
Ne 24/1 Open End Yarn | USD 2.84 / INR 234.00 |
MARKET OUTLOOK |
• North India’s cotton yarn market has seen an improvement in sentiments today, with trade sources reporting that demand for cotton yarn has already picked up. The garment industry is also expected to perform better as global buyers are expected to place large orders by mid-2023. • LAHORE: The ongoing off-season management campaign should be intensified to get better yield and management of harmful pests especially Pink Bollworm of upcoming cotton crop. • Global brands like Walmart have started lifting orders from Tirupur’s garment makers, after a gap of several months. This renewed business has led to a growth in knitwear exports which increased 1.5 per cent in dollar terms and 11.6 per cent in rupee terms in January. |
North Zone: Cotton traded easy tone across major spot market of north India on Tuesday. Prices were quoted down to 20-25 / maund yesterday evening. Today weather clear. New crop - cotton traded at ready delivery - In Punjab, Rs 6,375-6,475 a maund. In Haryana, it offered at Rs 6,275-6,425 a maund. while in Upper Rajasthan, quoted readty delivery at Rs 6,450-6,550 a maund. |
Central Zone: Cotton spot prices easy tone across west India market on Tuesday. Sankar-6, new crop 29 mm (RD-75 & MIC-3.8), in Gujarat traded at Rs 61,800-62,300 a candy and 28.5mm (RD-74) quoted at Rs.60,800-61,300 a candy. V-797 trade at Rs 45,000-46,000 (12-15% trash condition) a candy for February / March delivery. While in Maharashtra, new crop good grade cotton (29mm) quoted at Rs 60,800-61,300 a candy. |
South Zone: Cotton spot price was easy tone across the major trading centers of south India. |
INTERNATIONAL UPDATES |
US Cotton Futures : Cotton Closes Week With 4c Loss: March cotton ended Friday another penny weaker, which left the contract 408 points lower from Friday to Friday. The other front months were 19 to 50 points weaker on the day, with Dec Dec only dropping 261 points for the week. December ended with a 2 cent premium to the March contract. USDA’s weekly Classings report showed 52,475 bales of upland cotton was classed this week for a season’s total of 13.57 million bales. Pima classings brought the total to 14.001 million. USDA’s weekly Cotton Market Review showed 31,938 bales were sold this week at an 82.2c/lb average price. The total MY sales were marketed as 423.6k bales compared to 1.38 million last year. The Cotlook A index was firm 260 points lower to 98.25 cents/lb on 2/16. The updated AWP for cotton is now 74.05 cents, down by 36 points from last week. ICE certified stocks were 1,147 bales on 2/15. Mar 23 Cotton closed at 80.25, down 100 points, May 23 Cotton closed at 81.5, down 50 points, Jul 23 Cotton closed at 82.35, down 41 points |