COTTON PRICE | Market Reports

Cotton Market Bulletin

Published: January 31, 2023
Author: TEXTILE VALUE CHAIN

Yarn Prices as on 31th January 2023: Prices FOB / Kg Indian Port
  LC at Sight:
Ne 20/1 Carded Hosiery Yarn USD 2.85  /  INR 232.00
Ne 20/1 Combed Hosiery Yarn USD 3.03  /  INR 247.00
Ne 21/1 Carded Weaving Yarn USD 2.85  /  INR 232.00
Ne 26/1 Combed Hosiery Yarn USD 3.14  /  INR 256.00
Ne 30/1 Carded Hosiery Yarn USD 3.06  /  INR 249.00
Ne 30/1 Combed Hosiery Yarn USD 3.21  /  INR 262.00
Ne 32/1 Carded Weaving Yarn USD 3.18  /  INR 259.00
Ne 34/1 Combed Hosiery Yarn USD 3.42  /  INR 279.00
Ne 40/1 Combed Hosiery Yarn USD 3.61  /  INR 294.00
Ne 40/1 Carded Weaving Yarn USD 3.36  /  INR 274.00
Ne 30/2 Carded Hosiery Yarn USD 3.36  /  INR 274.00
Ne 32/2 Combed Knitting Yarn USD 3.73  /  INR 304.00
Ne 32/2 Carded Hosiery Yarn USD 3.42  /  INR 279.00
Ne 40/2 Combed Hosiery Yarn USD 4.16  /  INR 339.00
   
Ne 30/1 Combed Compact Weaving Yarn USD 3.42  /  INR 279.00
Ne 40/1 Combed Compact Weaving Yarn USD 3.73  /  INR 304.00
Ne 50/1 Combed Compact Weaving Yarn USD 4.04  /  INR 329.00
Ne 16/1 Open End Yarn USD 2.32  /  INR 189.00
Ne 21/1 Open End Yarn USD 2.50  /  INR 204.00
Ne 24/1 Open End Yarn USD 2.81  /   INR 229.00

 

MARKET OUTLOOK
• Today, the BSE Sensex opened at a level of 59625.81 points with a gain of about 125.40 points. On the other hand, the NSE’s Nifty opened at a level of 17690.30 points with a gain of 41.30 points.

• Today, the rupee opened at a level of Rs 81.60 against the dollar with a weakness of 10 paise. On the other hand, on Monday, the rupee strengthened by 3 paise and closed at Rs 81.50 against the dollar.

• Mahabubnagar: The cotton farmers across Palamuru region are in a lurch as they are not able to get the minimum support price for their produce as the market prices are dwindling downwards leading to heavy losses to the farmers as they are not able to get back their investment on the crop.

• Pakistan – Despite being the mainstay and major contributors to the national economy, small farmers in the country are on the brink of sustenance in view of the rising cost of inputs, low productivity and shrinking profitability.

North Zone:

Cotton traded steady to easy  tone across major spot market of north India on Tuesday. Prices were quoted down to 40-50 / maund yesterday evening. Today weather clear. New crop – cotton traded at ready delivery – In Punjab,  Rs 6,225-6,325 a maund. In Haryana, it offered at Rs 6,175-6,325 a maund. while in Upper Rajasthan, quoted readty delivery at Rs 6,350-6,450 a maund.

Central Zone:

Cotton spot prices steady to easy tone across west India market on Tuesday. Sankar-6, new crop 29 mm (RD-75 & MIC-3.8), in Gujarat traded at Rs 61,000-61,500 a candy and 28.5mm (RD-74) quoted at Rs.60,000-60,500 a candy. V-797 trade at Rs 44,500-45,500 (12-15% trash condition) a candy for February / March delivery. While in Maharashtra, new crop good grade cotton (29mm) quoted at Rs 60,000-60,500 a candy.

South Zone:

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

INTERNATIONAL UPDATES
US Cotton Futures :

Cotton Fades Triple Digits: Cotton traders worked the board lower to start the new week. Prices settled with 116 to 179 point losses across the front months. March cotton had a 290 point range on the day. Equity (@ES) futures hit the highest reading since Dec 13 on Friday, but pulled back on Monday amid Mideast tensions and concerns about a pull back in consumer spending. The FOMC is meeting on Tuesday and Wednesday to discuss the Federal Funds Rate – likely to be upped 25 – 50 basis points.  The Cotlook A Index for 1/27 was 75 points stronger to $1.02 40/100/lb. The AWP for cotton was raised 262 points to 75.05 cents per pound.

Mar 23 Cotton  closed at 85.1, down 179 points,

May 23 Cotton  closed at 85.74, down 171 points,

Jul 23 Cotton  closed at 86.19, down 161 points

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