Month: June 2017

COTTONGURU™ Daily Report

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Arrivals as on 29/06/17 is about 0.202 lakh bales.
Market: Steady
1) Telangana : As per state agriculature department, Telangana cotton sowing till 28th june is 8.02 lakh hectates against 5.06 lakh hectares same time last year. Which is 58.50% higher than last year.

2) Andhra Pradesh: As per state agriculature department, Andhra Pradesh cotton sowing till 28th june is 1.45 lakh hectates against 0.84 lack hectares same time last year. Which is 73.10% higher than last year.

 

 

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COTTONGURU™ Daily Report

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Arrivals as on 27/06/17 is about 0.231 lakh bales.
Market: Steady
1) Telangana government to give 50 per cent subsidy for handloom weavers: KT Rama Rao
Various schemes for the welfare of the weavers have been introduced and our govt is bringing revolutionary changes for the weavers in the State,” Rao said.
2) Chinas Cotton Yarn Imports 141900Tons In May-17 Dn 17% Vs Last Yr, But Up 0.63% Vs April-17
*In Jan to May-17 Yarn Imports At 813000Tons Up 1.19% Vs Last Yr
ICE-48
*China Customs: China Imports 11400Tons of Indian Cotton Yarn In May-17, Dn 28% From Last Yr & Also Lowest Since Jan 2012

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COTTONGURU™ Daily Report

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  1. Arrivals as on 22/06/17 is about 0.237 lakh bales.
  2. Market: Steady
  3. Japanese agency forecasts below-average rainfall in India Jun-Aug
    *India may have to brace itself for below-average rains in Jun-Aug because of above-average surface air temperature, Japan Agency for Marine-Earth Science and Technology has forecast.
    “…most parts of Indonesia, Australia, India, eastern China, northern Brazil, and Peru will experience a drier condition during the boreal summer,” the forecaster said in a report.
    *The southwest monsoon rainfall was 15% above normal in the first fortnight of the season but has been 10% below normal during the past seven days, according to the India Meteorological Department.
    IMD has forecast rainfall in July at 96% of the long-period average and 99% in August.
     

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COTTONGURU™ Daily Report

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  1. Arrivals as on 17/06/17 is about 0.26 lakh bales.
  2. Market: Steady
  3.  China🇨🇳: State Reserve AuctionReserve cotton turnover of 19,500 tons price fell 31 yuan / ton (6.19) June 17, 2017
    China Cotton Information Network News Bulletin June 19 cotton reserves to round out the sales resources 29521.058 tons, the actual turnover of 19,478.917 tons, turnover rate of 65.98%. The highest transaction price of 16310yuan / ton (2012 Xinjiang cotton), the lowest price of 13530yuan / ton (2012 annual production of cotton). The average transaction price of 14921yuan / ton (compared with the previous day price fell 31 yuan / ton).

    Number of textile enterprises accounted for: 65.71%, non-textile business accounted for 34.29%.

     

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COTTONGURU™ Daily Report

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  1. Arrivals as on 14/06/17 is about 0.275 lakh bales.
  2. Market: Steady
  3. PAKISTAN COTTON UPDATES
    * Selling pressure by ginners pushed the official spot rate down on the cotton market on Tuesday in the process of trading, dealers said.
    * The KCA official spot rate drifted lower by Rs 50 to Rs 6750, they said.
    * In the ready session, nearly 7000 bales of cotton changed hands between Rs 6900-6975, they said. In Sindh, seed cotton prices were available at Rs 3400-3500, they said.
    * According to the market sources, expectations of better cotton production this year, propelled ginners to dispose off unsold stock, casing fall in present levels.
    * Recent rains in India and good cotton production in the other cotton producing countries, pushed down rates and it is most likely prices may come down further in the near future.
    * Cotton analyst, Naseem Usman said that mills and spinners were not interested in fresh buying on rising anticipations of more decline in present rates.
  4. “Many may think that the recent slowdown in garment export will have a negative impact on cotton consumption but that is not true.”

    Garment shipments have been declining in value but the volumes are increasing, he said. Since the volume is increasing, so is cotton consumption.

    By the end of 2020, cotton consumption in Bangladesh will hit 7.9 million bales.

    Mehdi Ali, general secretary of the Bangladesh Cotton Association

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COTTONGURU™ Daily Report

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  1. Arrivals as on 13/06/17 is about 0.28 lakh bales.
  2. Market: Steady
  3. PAKISTAN COTTON UPDATES
    *Slow business activity was witnessed on the cotton market on Monday due to expectations of better than expected cotton production this year, dealers said.
    *The KCA official spot rate was unchanged at Rs 6800, they said.
    *According to the market sources, most of the participants were on the sidelines on arrivals of good cotton production.
    *Cotton analyst, Naseem Usman said that after heavy rains in India these days, bumper cotton production is likely and may cause slight fall in present rates. As a whole, trend in the world is easy, he added.
  4. Cotton crop progress in United States

    Planting
    *By the week ending Jun 11, 92% of U.S. cotton crops has been planted, up 12% from the prior week, 5% from a year ago, and 2% from five-year average – according to USDA.

    Crop Development
    *15% of cotton crops are squaring, up 4% from last year and 3% from five-year average

    Crop condition
    Crop condition was 1 percent very poor, 4 percent poor, 29 percent fair, 54 percent good and 12 percent excellent.

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COTTONGURU™ Daily Report

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  1. Arrivals as on 12/06/17 is about 0.30 lakh bales.
  2. Market: Bearish
  3. Selling price of China’s reserved cotton during Jun 12-16, 2017 Selling price of China’s reserved cotton during Jun 12-16, 2017 According to relative regulation, the base selling price of the week (from Jun 12-16) scores at 15,491yuan/mt (standard type price), down 68yuan/mt compared to the prior week. Based on the selling price of standard type, the actual reserved cotton prices will be calculated according to the price difference of different quality..

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