Month: July 2017

COTTONGURU™ Daily Report

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Arrivals as on 26/07/17 is about 0.04 lakh bales.
Market: Steady
1) China: State Reserve Auction

Reserve cotton turnover average price of 14450 yuan / ton up 83 yuan / ton (7.27) July 27*
China Cotton Information Network News Bulletin July 27 cotton reserves to round out the sales resources 29123.965tons, the actual turnover of 15,723.452tons, turnover rate of 53.99%. The highest transaction price of 16260yuan / ton (2013 Xinjiang cotton), the lowest transaction price of 13040yuan / ton (2012 real estate cotton). The average transaction price of 14450yuan / ton (compared with the previous day price rose 83 yuan / ton).

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COTTONGURU™ Daily Report

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Arrivals as on 06/07/17 is about 0.157 lakh bales.
Market: Steady
1) Export rebate for cotton yarn down in India Export rebate for cotton yarn down in India It is learned that export rebate for cotton yarn in India has been revised down to 1.2% from 3% under new GST and may be removed 2 months later. Cotton yarn would now attract 5% of duty under new GST, while offers for cotton yarn have not increased apparently. Some Indian cotton yarn plants reflect that export price for cotton yarn may not rise in India after the export rebate being reduced or even removed as the advantage created by new GST is apparent. Current Indian market lacks clear policy, slanting volatile. Indian cotton yarn plants are cautious in offering, and operation has been in stagnation in some plants. Looking-on mood is strong on the market. *Sources: CCF Group

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COTTONGURU™ Daily Report

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Arrivals as on 04/07/17 is about 0.156 lakh bales.
Market: Steady
1)Gujarat: As per state Agriculture department of Gujarat cotton sowing till 3rd
July is 12.675 lakh hectates against 7.075 lakh hectares same time last year.
Change year on year till 3rd July 2017 up by 79.15%
2)Today’s 1st session China state reserve lowest sells in this season
*China State Reserve sold only 32.19 percent at 4,849.74 tons out of the total
quantity at 15,068.14 tons of cotton reserved in the first session of its
auction on July 05.

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