From October 1st to December 5th, India’s total cotton arrival reached 7 million bales (1 bag = 170 kg), and cotton arrival reached 7.2 million bales a year ago.
In Gujarat, the main cotton market, cotton arrivals dropped by 15% year-on-year to 2.3 million bales. The arrival of cotton in Maharashtra was also weak, with only a slight increase in cotton arrivals in Madhya Pradesh and Andhra Pradesh.
The arrival of cotton is low. Even if Indian cotton farmers started to obtain better cotton production than last year, this year's cotton production reached 32.5 million bales, and last year's cotton harvest was 29.5 million bales.
Most farmers have recovered their cash costs because this year's cotton prices have almost doubled and they haven't rushed to sell their cotton, a dealer said. The cotton price began to rise because exporters accepted the contract and tried to issue their goods before the December 15 deadline.
In the current cotton season, the Indian government limits the cotton export quota to 5.5 million bales, setting December 15 as the deadline for exporting cotton.
The industry believes that Indian traders can only issue 300-3.5 million contracted cotton, because domestic prices have risen significantly from last year's level, making purchasing difficult.
An official of the Indian Cotton Company said that the price of cotton of the six types of Sankar reached the highest historical record of 45500 rupees/candi (1 candi = 356 kilograms). Last year, the cotton price was as low as 32200 rupees/candi.
In Gujarat, the main cotton market, cotton arrivals dropped by 15% year-on-year to 2.3 million bales. The arrival of cotton in Maharashtra was also weak, with only a slight increase in cotton arrivals in Madhya Pradesh and Andhra Pradesh.
The arrival of cotton is low. Even if Indian cotton farmers started to obtain better cotton production than last year, this year's cotton production reached 32.5 million bales, and last year's cotton harvest was 29.5 million bales.
Most farmers have recovered their cash costs because this year's cotton prices have almost doubled and they haven't rushed to sell their cotton, a dealer said. The cotton price began to rise because exporters accepted the contract and tried to issue their goods before the December 15 deadline.
In the current cotton season, the Indian government limits the cotton export quota to 5.5 million bales, setting December 15 as the deadline for exporting cotton.
The industry believes that Indian traders can only issue 300-3.5 million contracted cotton, because domestic prices have risen significantly from last year's level, making purchasing difficult.
An official of the Indian Cotton Company said that the price of cotton of the six types of Sankar reached the highest historical record of 45500 rupees/candi (1 candi = 356 kilograms). Last year, the cotton price was as low as 32200 rupees/candi.
Photo Frame & Wooden Stretcher Frame
Photo Frame,Wooden Stretcher Frame,Canvas Oil Painting
Visual Beauty Import & Export Co., Ltd. , http://www.fj-oilpainting.com