Quoting trade sources, the Indian Cotton Federation (ICF) says, if agro climatic conditions are favourable, Indian cotton production could reach above 400 lakh (40 million) bales in the 2014-15 season and that overall acreage may jump by 12-14% from last season as per the latest cotton sowing progress estimate of seed suppliers.
Rainfall has been consistent in the last week and has helped in the improvement of growth of cotton plantings in major cotton growing areas like Gujarat, Maharashtra, Madhya Pradesh, Andhra Pradesh, Telangana and Karnataka, adds the report from ICF.
As per trade reports, it informs that in some states like Andhra Pradesh and Karnataka, farmers have shifted from paddy and soya cultivation to cotton farming due to good returns from last year’s cotton crop.
Overall cotton acreage may jump by 12-14% from last season as per the latest cotton sowing progress estimate of seed suppliers and Indian cotton production could be above 400 lakh bales if the agro climatic conditions are favourable as per trade sources in the 2014-15 season, the report adds.
In Punjab, there has been a drop in cotton cultivation by 10% while in Rajasthan there has been an increase by 40% in cotton sowings. Prices for good quality J-34 r/g was Rs.4335 spot per maund while in Haryana it was priced at Rs.4310 spot per maund and in Rajasthan it was quoted at Rs.4290 spot per maund.
There has been very good and consistent rainfall in most of the cotton growing belts of Gujarat and this has led to reduction in prices for good cotton to around Rs.40,500 spot per candy and V-797 R/G was priced at Rs.30,000 spot per candy.
The last one week has brought back hopes to Marathwada region for cotton cultivation. The present spell of rains is benefitting in all aspects for agriculture as the dams are quickly filling up. Good quality 29 mm cotton has been selling at Rs.41,200 spot per candy.
According to ICF, the rains have been bountiful and will benefit the farmers in the present crop condition. In Marathwada, price for good quality bunny of 29mm is priced at Rs.41,500 spot per candy.
The present spell of rains in the last one week has completely changed the picture of agriculture in Andhra Pradesh as dams have started overflowing and many farmers have shifted from soya cultivation to cotton in the current situation.
The prices for good quality 29mm cotton in Adilabad area is priced at Rs.42,500 spot per candy while in Warangal, good quality 29.5mm cotton is sold at Rs.43,000 spot per candy and in Guntur good quality 31mm cotton is priced at Rs.44,000 spot per candy.
There has been consistent rainfall in the last one week and has given a new lease of life to cotton plantings, surrounding Raichur area. New crop DCH-32 and Bunny has already started arriving in small pockets of North Karnataka in Gokak and South Karnataka in Bellary.
The micronaire levels are 4.7 and moisture is around 11% in cotton arriving near Bellary at the moment. The prices for good quality new crop Bunny from Gokak and Bellary is Rs.42,000 spot per candy while DCH-32 is quoted at Rs.55,000 spot per candy.
Tamil Nadu mills are going through a difficult patch at the moment as the yarn export demand is low and in the domestic market looms are maintaining nil stocks and are going hand to mouth for their yarn requirements putting the financial load on the spinning mills, the report avers.
Cotton kappas arrivals slowed down and till date arrivals are about 4.80 lakh bales. Rainfed sowing is in progress in Salem, Trichy, Perambalur districts and has been completed in Dharmapuri and Tiruppathur tracts.
With regard to southern belts like Tirunelveli, Madurai and Virudhunagar area, farmers are waiting for further rain to start sowing, while cotton prices were ruling steady trend.
In international news, after the sudden drop of 11 cents from 85 cents per lbs to 73.5 cents per lbs in the Cotlook Index 15 days back, prices have stabilized to around 75 cents per lbs, the report concludes. (AR)
