COTTONGURU™ Daily Report

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  1. Arrivals on 27/03/17 is about 1.22 lakh bales.
  2. Market:  Bearish
  3. 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.
  4. 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)

For more brief reports of cotton market and Buy Sell Options,
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For detailed reports on global cotton markets, subscribe to COTTONGURU™  Fortnightly Newsletter on http://www.cottonguru.org

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