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COTTON GURU
130 followers -
Tradition of Trust
Tradition of Trust

130 followers
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Gamechangers: Govt(MSP, Trade wars), Nature(World Weather) and Demand(China):

We foresee ICE futures crossing 1USD during 2019. Weather and demand wil factor the rise supported by strong technicals.
In India ending stocks will be uncomfortably low by end of cotton season 2017-18 and the new MSP and domestic demand will continue to support the bullish trend of Indian cotton prices. The days of 'Discount Sale' of Indian cotton may well be over. The textile industry will have to think in terms of Value rather than Price. Innovation and value addition is the need of the hour.

Unless... the Game changers have other thoughts!

COTTONGURU® Bureau
www.cottonguru.org
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COTTONGURU® Cotton Market report :

While the recent increase in cotton prices is emerging as an issue of concern to the spinning and weaving industry, it is proving to be favourable for the cotton ginners and traders who have unsold cotton stocks. After a long spell of the season during which cotton prices remained subdued and cotton seed prices were significantly low, the ginners suffered heavy cash and inventory losses. But cotton prices have witnessed a strong bullish rally in the last 15 days both in the physical and futures markets. Subsequently, the seed prices have also gone up bringing a huge sense of relief for the ginners.


According to the Cotton Association of India (CAI), cotton carry-over stock from the 2017-18 season is estimated to be 16 lakh bales (of 170 kg), which is said to be the lowest since 2011-12. Mr. Atul Ganatra, President, CAI has opined that such low carry-over stock is a matter of concern for the cotton industry. The new crop arrival, according to industry sources, is expected to pick up by the middle of October, which is 3-4 months from now.

As a result, the price of Gujarat Shankar 6 variety which was INR 43,000 per candy a fortnight ago is almost INR 47,000 per candy now.


With closing stocks of cotton projected to be at a six-year low for the current season, ending September, prices of the fibre crop have started firming up as the new crop arrivals are expected from mid-October onwards.


“Such low carry-over stock of 16 lakh bales is a matter of concern for the cotton industry,” said Atul Ganatra, President, CAI.


The new crop arrival, according to industry sources, will take place by the middle of October, still three-four months away.


COTTONGURU® has addressed over 3000 cotton farmers across Maharashtra in the last fortnight. We were supported in our mission by MCX Investor (Client) Protection Fund, Mr. Amrutrao Deshmukh (Awardee for Maharashtra’s highest yield in cotton), Jain irrigation, Dr. Hemant Sonare (Chairman, Textile Association of India),               Mr. Govind Wairale, etc. Our mission is blessed by our father-figure and industry veteran Mr. Suresh Kotak.


COTTONGURU® has registered +250 progressive farmers for Pradarshan Khet project in one visit and the registration process is going on. We aim to make over 10,000 such Pradarshan Khets in the next few years which will be a solid evidence about the success of our mission. We also plan to adopt a village for mass benefit of needy farmers.

The next few days are very critical for the cotton market. Price trend for the next 3 months will depend on the following factors:

1)Cotton sowing in India and crop report in USA, China, Australia and Pakistan.

2)Cotton demand

3)Ending stocks in India, US and China.

4)Movement of American ICE exchange future prices.

Manish Daga
manish@cottonguru.org
www.cottonguru.org

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