Cotton fell -0.38 percent yesterday to 26010 as cotton output is expected at 35.38 million bales (of 170 kg each), which is 3.49 million bales more than the normal cotton production. The weekly export sales report from the United States Department of Agriculture revealed net sales of 149,300 running bales (RB) for the 2021/2022 marketing year and exports of 229,500 RB, a 4% decrease from the previous week and a 5% decrease from the preceding 4-week average. Cotton sowing has resumed throughout the nation with the resumption of monsoon in various states, following a halt in July due to a dry period. Sowing in the north is nearly complete.
The sowing has been normal in Haryana while Rajasthan and Gujarat had reported dry spells. There has been a dip in Maharashtra since farmers shifted to other crops like soybean and groundnut. Some pick up is likely in Andhra Pradesh and Tamil Nadu (NS:TNNP) The lower acreage is largely attributed to delayed rains. But with kapas prices ruling at Rs 8000 per quintal, sowing is expected to continue.
