Month: March 2017
COTTONGURU™ Daily Report
- Arrivals on 29/03/17 is about 0.91 lakh bales.
- Market: Bearish
- Monsoon Update: Skymet Weather Forecasts Below Normal Monsoon For India In 2017.
- Indian sentiment has changed more bearish at the moment because of unexpected forex inflows in march and rupee firming up 2-3% In a short time.. There has been increased import bargains in last 2-3 weeks.. the tight Indian balance sheet has become a little better.
- ICE FELL 1% to their lowest in a month as traders remained wary & liquidated position ahead of federal crop plantation report expected this week
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COTTONGURU™ Daily Report
- Arrivals on 27/03/17 is about 1.22 lakh bales.
- Market: Bearish
- Indian textile mills are increasingly seeking to buy overseas cotton, which yields better yarn, as a persistent rise in prices of domestic output makes local fibre commercially unviable.
- 2016/17 global cotton output to be up 9%: USDA: Following the increase in forecast for the US cotton crop, the latest US Department of Agriculture (USDA) report now projects global cotton production this season to total 105.7 million bales, up 9 million bales or 9 per cent above the 2015/16 season. Global harvested area in 2016/17 is estimated at 29.2 million hectares, down 4 per cent from the previous season.However, USDA has projected the global yield in this season to be significantly higher at 788 kilograms (kg) per hectare, as against 690 kg per hectare in 2015/16.
In 2016/17, production in India is forecast at 27.0 million bales, 2 per cent above last season as a rebound in yield, more than offset a reduction in harvested area, while China’s cotton output is expected to reach 22.5 million bales, also a 2 per cent increase over 2015/16.
“For Pakistan, 2016/17 production is forecast at 7.7 million bales, up 10 per cent, while Brazil’s 10 per cent increase will push its crop to 6.5 million bales,” USDA said.
Australia is projected to produce 4.5 million bales in 2016/17, up a massive 58 per cent over 2015/16, primarily due to an increase in cotton acreage, as rainfall helped increase the lower yielding dryland area. (AR)
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,
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COTTONGURU™ Daily Report
- Arrivals on 25/03/17 is about 1.17 lakh bales.
- Market: Steady
- MCX suspends futures contract of kapas due to lack of liquidity: The Multi Commodity Exchange of India has suspended new contracts in kapas until further notice, “due to lack of liquidity and market participation in the existing contracts,” the bourse said in a circular.
- INDIA:Technical Textiles Consumption to Surpass 37 Million Tonnes by 2020
- Textile mills import cotton as prices surge in domestic market
-Imported cotton appears to be attractive due to better yarn realisation, productivity and quality - Polyester and viscose fiber prices are now dropping in Pakistan and putting pressure on domestic yarn prices, as a result. Cotton fiber and yarn prices continue resisting any decline.
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COTTONGURU™ Daily Report
- Arrivals on 24/03/17 is about 1.25 lakh bales.
- Market: Steady
- Surge in cotton prices in Indian market drive textile mills to import with the jump in cotton prices in the country, there is a spurt in import contract as textile mills have started importing cotton from West Africa and the US as the landed costs are on par with the prevailing domestic market price.
- ICE COTTON UPDATES: ICE cotton futures were subdued on Thursday on muted speculative activity ahead of a federal acreage report due next week.
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COTTONGURU™ Daily Report
- Arrivals on 23/03/17 is about 1.31 lakh bales.
- Market: Bearish
- Textile mills have started to import cotton from West Africa and the US as the landed costs are on par with the prevailing market price in the country.The textile mills have contracted to import about 15 lakh bales (a bale is 170kg) of cotton as its prices are on the rise in the country, industry officials said.
- The government for the development of the powerloom sector has formulated a Solar Energy scheme under which it will provide incentives and concessions to loom weavers to utilize solar energy to increase production, said Minister of State for Textiles Ajay Tamta.
- Pakistan: Cotton Markets volume of business improved on the cotton mkt owing to strong demand by mills & Spinners.
- Country’s cotton production until March 15, 2017 reached 10.722 million bales, increasing 9.99 percent over the same period last year, a fortnightly report released by ginners showed on Saturday.
- Cotton futures settled 9 to 26 points higher on all contracts on Friday, as May was up 107 points wk/wk. All upland export commitments are 95% of what the USDA has projected for total exports for the marketing year.
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COTTONGURU™ Daily Report
- Arrivals on 22/03/17 is about 1.35 lakh bales.
- Market: Bearish
- ICE cotton futures hit a more than two-week low on Tuesday, weighed down by weakness in the grains market.
- Cotton prices continued in a downward trend. Traders suspect the fall is a result of macroeconomic factors, lower Chinese futures and short term technical weakness weighing on the market. Shippers reported an increase export activity in China, India, Turkey and Far Eastern markets for nearby and summer shipments.
- In the US, traders have pushed their US new crop acreage higher. One report suggest cotton continues to be the best alternative for many growers in the US.
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COTTONGURU™ Daily Report
- Arrivals on 21/03/17 is about 1.43 lakh bales.
- Market: Bearish
- ICE cotton futures lost over 1 percent in thin-volume trade on Monday pressured by lack of speculative buying amid a firm dollar.
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COTTONGURU™ Daily Report
- Arrivals on 20/03/17 is about 1.36 lakh bales.
- Market: Bullish
- CCA cotton planting intention survey in Feb, 2017: According to China Cotton Association’s investigation over 2841 growers and 12 major cotton belts in February 2017, growers willing to plant decrease from last estimation.
- Firmness prevailed on the cotton market on Saturday as needy mills did purchasing of quality lint to replenish their stock, dealers said.
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COTTONGURU™ Daily Report
- Arrivals on 18/03/17 is about 1.28 lakh bales.
- Market: Steady
- Pakistan: local cotton rates maintained-cotton Flat In Lean Business Activity
- Cotton acreage set to rebound in North India: According to cottonseed makers, farmers and traders, acreage under the crop will rise sharply in the North with a jump of about 20-25 per cent over last year’s 11.96 lakh hectares.
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COTTONGURU™ Daily Report
- Arrivals on 17/03/17 is about 1.31 lakh bales.
- Market: Steady
- NY futures ended the week slightly higher, as May gained 35 points to close at 78.17 cents.
- China Import Boost
In cotton too, the country’s appetite is giving bulls some hope, with Chinese imports for last month soaring 146% year on year to 138,100 tonnes, according to the China Cotton Association.
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