The All India Kappas Arrivals Have Dropped to 70,000 Bales Per Day

The All India kappas arrivals have dropped to 70,000 bales per day. Local mills were very cautious in their procurement of cotton. Ginners holding cream quality are reluctant to sell their cotton in hope of better prices. As per CCI report upto 7th April 2 crore 62 lakh bales have arrived in the market.
 
Textile Mills are requesting the Government to instruct CCI to sell the cotton stock with them to domestic Mills so they could procure good quality at market prices. CCI has requested the Government to allow them to export 10 lakh bales from their stock of 25 lakh bales.
 
PUNJAB, HARYANA AND RAJASTHAN:
As ginners are in a panic state of mind due to drop in commodity markets. Daily kappas arrivals are approximately 10,000 bales. Punjab J-34 r/g was quoted at Rs.4090/- per maund spot while Haryana J-34 r/g was quoted at Rs.4000/- per maund spot and Rajasthan J-34 r/g was quoted at Rs.3980/- per maund spot. Bengal Desi s/g was quoted at Rs.3850/- per maund spot.
 
GUJARAT:
Daily kappas arrivals were approximately 25,000 bales. Good quality S-6 was quoted at Rs.39,300/-Spot per candy while low micronaire cotton was quoted at Rs.38,500/-Spot per candy. Good quality V-797 r/g was quoted 28,000/-Spot per candy.
 
MAHARASHTRA:
Domestic Mills are purchasing as per their requirement and ginners were more in a mood to sell their stocks as the market were showing a weak trend. Daily kappas arrivals were approximately 19000 bales. 30mm Bunny was quoted at Rs.38,700/-Spot per candy while 29mm Bunny was quoted at Rs.38,300/-Spot and low micronaire cotton was quoted at Rs.36,700/-Spot per candy.
 
MADHYA PRADESH:
Daily kappas arrivals is approximately 8000 bales. Good quality 29mm bunny is quoted at Rs.38,800/-Spot while low micronaire cotton is sold at Rs.37,500/-Spot and Dch-32 is quoted from Rs.47,500/-Spot to Rs.49,000/-Spot per candy.
 
ANDHRA PRADESH:
Adilabad Bunny 29mm Rs.37,500/-Spot per candy. Guntur MCU-5 of good quality is being quoted
Rs.41,000/-Spot per candy. Average quality of 30mm is sold at Rs.39,000/-Spot per candy.
 
KARNATAKA:
Good quality stock lots 30 mm bunny was quoted at Rs.41,000/- spot per candy and 29mm running type with length variation was quoted at Rs.39,000/- Spot. Jaydhar was sold at Rs.31,000/-Spot per candy. While Dch-32 stock lying with limited people is quoted at Rs.49,500/-Spot per candy
 
TAMILNADU:
Mills were going through a difficult phase as domestic yarn markets are sluggish. Export enquiries in yarn too are poor. Power problem is the big draw back to the profitability of the mills in this region.Dch-32 cotton is arriving in some pockets surrounding Salem at centres like Attur, Uthangarai and Boothapadi. There is a mixing of Surabhi cotton by traders to reduce the cost and is being sold at Rs.51,500/-Spot per candy.
 
INTERNATIONAL:
International cotton prices seem to be easing a bit right now due to the financial tightness and fall in various commodities like crude, gold etc.