We are looking for Stocks / Surplus of all Textile Items ( Yarns, Fabrics, Garments, Home Furnishings ) Globally.
ARRIVAL BALES FRIDAY – 28.04.2023 TOTAL = 1,21,500 Bales
ARRIVAL BALES SATURDAY – 29.04.2023
COTTON PRICE TODAY – 01.05.2023
* Rate (INR) per Maund (1 Maund = 37.324 KG.)
MARKET OUTLOOK
• India is one of the largest producers of textiles in the world, with a rich history of textile manufacturing dating back thousands of years. The country has a diverse and thriving textile industry that includes everything from traditional handloom fabrics to modern high-tech textiles.
• The Tamil Nadu government on Saturday urged the Centre to provide sufficient time to the textile industry to comply with the quality control orders (QCOs) for importing viscose and polyester fibres.
• According to K. Selvaraju, secretary general of the Southern India Mills’ Association, indicative data of yarn prices available show that hosiery yarn that was selling at ₹381 a kg in October last year is ₹331 a kg now and price for warp variety that was ₹303 a kg in October is ₹270 a kg at present.
• The government has re-imposed the provision of fumigation of US cotton at ports, official documents showed, a move that may increase the lead time and cost of production for importers.
North Zone:
Cotton traded steady tone across major spot market of north India on Monday. Prices were quoted down 20-25 / maund yesterday evening. Today weather clear. New crop – cotton traded at ready delivery – In Punjab, Rs 6,200-6,275 a maund. In Haryana, it offered at Rs 6,175-6,275 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 Monday. 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 48,500-49,000 (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 :
Cotton Extends Week’s Bounce On Friday: The front month cotton futures market was another 25 to 39 points higher on Friday, extending the July contract’s weekly gain to 65 points. Weekly Commitment of Traders data showed managed money cotton traders were 20,298 contracts net short as of 4/25. That was a 13k contract stronger net short wk/wk, driven by net new selling. Commercial cotton traders reduced their net short by 15k contracts through the week to just 27,207 via a combination of new longs and fewer short hedges. USDA’s weekly Cotton Market Review showed 6,570 bales were sold during the week that ended 4/27 with an average price of 76.93 cents/lb. The 4/26 Cotlook A Index was down by 205 points to 91.70 cents/lb. The updated AWP for is 66.53 cents/lb. That compares to 70.82 cents last week.
May 23 Cotton closed at 79.03, up 40 points,
