China Cotton Auction: 1.77 Percent Imported Cotton Cancelled In Auction

MUMBAI (Commoditiescontrol): Total Sales of cotton in the auction stood at 582843 tonnes on 31st May after accounting in for cancellations. Imported cotton sales accounted for 296129 tonnes or 50.81 percent while domestic cotton accounted for the remaining 49.19 percent or 286714 tonnes.

Cotton being auctioned is that of the years 2011 -12, 2012-13 and 2013 - 14.

Quantity in Metric Tons



Without cancellation total sales stood at 588631.60 tonnes. Thus 5788.6 tons or 0.98 percent of cotton sold via auction has been cancelled. Total imported cotton sales before cancellation stood at 301456.80 tonnes. Thus 5327.80 tons or 1.77 percent of imported cotton has been cancelled. Total domestic cotton sales before cancellation stood at 287174.90 tonnes. Thus only a meager 460.9 tonnes of domestic cotton has been cancelled.

Share of Imported cotton sold stood at 51.21 percent while that of domestic cotton stood at 48.79 percent so far.

Quantity on offer after dropping to a low of 20076.60 tonnes on 27th May has once again reached above 30000 tonnes and was 30080.10 tonnes yesterday.

Average quantity offered for the month of May stood at 28407.87 tonnes.

Quantity of domestic cotton offered decreased by 40.24 percent after increasing by 38.85 percent on Monday. Quantity of imported cotton offered increased sharply by 378.86 percent after increasing by 0.94 percent.

Ratio of Sales To Domestic and Imported Cotton



Ratio of domestic cotton on offer dipped sharply yesterday to 46.75 percent from 87.55 percent on Monday while that of imported cotton increased sharply to 53.25 percent from 12.45 percent.

Of the 14398.76 tons of domestic cotton offered 13765.06 tons or 97.89 percent was sold while 100 percent of the 15681 tons of imported cotton was sold.

Auction Turnover And Staple Length



After a sharp fall in turnover to 88 percent on Monday, Tuesday turnover stood at 97.89 percent owing to increase in the offering of imported cotton.



Staple length has remained stable at 28.18 MM for the past two auction days.

Auction Price



Average auction price rebounded sharply from the lowest level to the highest level ever since the auction began on 3rd May. Average auction prices had dipped to 11897 Yuan on Monday but shot back to 12526 Yuan yesterday.



Rebound in average auction price was on account of sharp increase in both the highest and the lowest selling price. Highest selling price shot up by 3.75 percent to 13540 Yuan while lowest selling price shot up by 5.27 percent to 10780 Yuan. Though average auction price was at the highest level high and low prices did not reach a new high.

Floor Price For Week 30th May To 3rd June

Floor price for the week 30th May to 3rd June has been fixed at 12028 yuan per ton up by 144 yuan as compared to the previous week’s floor price of 11884 yuan per ton.

Today’s Offering

Once again total cotton on offer is back to a low of 20260.353 tonnes. No imported cotton is being offered today only domestic cotton.

Ist Session – 10079.16 tonnes of domestic cotton will be offered.

2nd Session – 10181.19 tonnes of domestic cotton will be offered.

(By Commoditiescontrol Bureau; +91-22-40015522)