| Yarn Prices as on 1st February 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 59898.93 points with a gain of about 349.03 points. On the other hand, the NSE’s Nifty opened at a level of 17766.50 points with a gain of 104.30 points.
• The budget is to be presented today. But before this, the rupee opened strongly against the dollar today. Today, the rupee opened at a level of Rs 81.76 against the dollar with a strength of 16 paise. On the other hand, on Tuesday, the rupee closed at a level of Rs 81.92 against the dollar with a weakness of 42 paise. • Cotton yarn prices remained steady in south India today because of average to slow demand from the weaving industry. Cotton yarn prices were stable in Mumbai and Tiruppur as buyers stayed away in anticipation of the Union Budget 2023-24 which will be presented today. • Cotton futures trading, suspended on the Multi Commodity Exchange of India Ltd. (MCX) for last five months, is expected to resume soon. |
| North Zone:
Cotton traded steady tone across major spot market of north India on Wednesday. Prices were quoted up to 25-50 / 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 6,375-6,475 a maund. |
| Central Zone:
Cotton spot prices steady tone across west India market on Wednesday. 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 tone across the major trading centers of south India. |
| INTERNATIONAL UPDATES |
| US Cotton Futures :
Triple Digit Rebound From Cotton: Cotton prices ended the day with 1.3% to 1.8% gains led by the thinly traded October contract. For March that was a 112 point gain on a Turnaround Tuesday. The FOMC will announce their interest rate decision tomorrow afternoon, with most analysts expecting between a 25 – 50 basis point increase. The Cotlook A Index was 40 points weaker for 1/30 to 102 cents. The AWP for cotton is 75.05 cents per pound. Mar 23 Cotton closed at 86.22, up 112 points, May 23 Cotton closed at 86.95, up 121 points, Jul 23 Cotton closed at 87.46, up 127 points |
