Wait...

Online India Export Import Data Search

Complete Training Video : Click Here

Cotton price firms up 10% on supply fall.


Date: 10-01-2017
Subject: Cotton price firms up 10% on supply fall
NEW DELHI: Cotton prices in India, the world's second-largest producer, have firmed up by 10% in the last fortnight on falling supplies in the spot markets and exports by mills. Prices are expected to remain bullish with farmers holding the crop due to lack of cash flow in the market, said trader and ginners. 

On Saturday, Shankar 6 cotton prices in the Rajkot mandi was trading at Rs 40,000-41,000 per .candy of 356 kg each from Rs 37,500 .38,000 per candy a fortnight ago. 

“Everyone is trying to meet their export shipment deadlines and domestic demand and prices remain firm. I expect bullish sentiments to prevail,” said Dhiren Sheth, director, CA Galiakotwala, a leading cotton exporting company. 

Traders said prices could see an upward trend of 10% in the coming days with exports and domestic demand picking up amid fall in arrivals in mandis. Further, news of Cotton Corporation of India stating that it will procure 1520 lakh bales of 170 kg each of cotton in the year ahead too has supported prices, said a Mumbai based trader. 
Currently, major purchases were happening from Gujarat, Maharashtra, Andhra Pradesh, Punjab and Karnataka. 

Bharat Vala, president of the Saurashtra Ginners Association said that cotton prices would remain firm for the next one month, till currency flow improves. “Farmers want cash rather than cheques and is hence holding the crop. There is demand and exporters from Louis Dreyfus, Glencore, Khimji Vishram & Sons, Jaydeep Cotton and others are in the market, but no one is selling,” said Vala. 

Exporting companies said that they had signed future contract for delivery of cotton by December, which they were unable to meet due to demonetization. “We have got some additional few weeks to meet our export orders, but the prices are now very high,” said an exporter from Gujarat. 

Ashok Kapoor a cotton trader from the Bhatinda mandi in Punjab said that mills from Vardhman, Trident to Nahar were buying on a daily basis. “Everyone has become a fence sitter and buying as per their requirement rather than buying for 5-6 months in one go as prices are firm from the usual,” he said. 

As per 1st advance estimates, of the Agriculture Ministry the estimated production of cotton during kharif 2016-17 is going to be 32.12 million bales (of 170 kg each) as compared to 30.15 million bales during 2015-16.

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 17-08-2017
Notification No. 81/2017 - Customs (N.T.)
Notification No.81/2017-Customs (N.T.) dated 17th August, 2017 [Effective from 18th August, 2017]

Date: 17-08-2017
Notification No. 79/2017 - Customs (N.T.)
Amendment in Notification no. 131/2016-Customs (N.T.) dated 31.10.2016 relating to AIRs of Duty Drawback on Gold Jewellery, Silver Jewellery and Silver Articles

Date: 16-08-2017
Notification No. 72/2017-Customs
Seeks to supersede Notification No. 27/2002- Customs dated 1st March, 2002 and to provide exemption to temporary import of goods from Customs duty leviable under First Schedule to the Customs Tariff Act, 1975 and from the whole of the integrated tax leviable under sub-section (7) of section 3 of the Customs Tariff Act, 1975 subject to specified conditions.

Date: 14-08-2017
Notification No. 20/2015-2020
Supply of essential commodities to the Republic of Maldives during 2017-18

Date: 14-08-2017
Notification No.21/2015-2020
Amendment in Para 4.32(i) of chapter 4 and in para 6.01 (a) of chapter 6 of the Foreign Trade Policy 2015-20

Date: 14-08-2017
Notification No. 78/2017 - Customs (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg.

Date: 11-08-2017
Notification No. 9/2017-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 11-08-2017
Notification No. 8/2017-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 11-08-2017
TRADE NOTICE NO. 13/(2015-2020)
Implementation of Notification No. 19 dated 05.08.2017

Date: 11-08-2017
Notification No. 71/2017-Customs
seeks to further amend notification No.50/2017-Customs dated the 30th June, 2017, so as to 1> Increase the BCD on crude soya bean oil from 12.5% to 17.5%; 2> Increase the BCD on crude palm oil of edible grade from 7.5% to 15%; and 3> Increase the BCD on refined palm oil of edible grade from 15% to 25%.