Login ID:
Partner Login
Contact Us : 7066511911

Cotton Rules Mixed in Central, South; Brisk Markets and Weather Woes

16 Jul 2019 2:47 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

 MUMBAI(Commoditiescontrol) – Cotton prices observed a mixed trend in Central, Southern Spot markets on Tuesday.

Prices rose in Gujrat by Rs. 50/200 per Candy on active buying from the mills. Prices Remain unchanged in Maharashtra and Karnataka. In MP, it was up by Rs. 150 per Candy. It quoted down by Rs. 150 per Candy in Telangana.

According to Skymet, a private agency that provides weather forecasts, the ‘break monsoon’ period, which usually arrives in August, has already arrived this year, due to which dry conditions are expected for the next two weeks. The rainfall intensity is predicted to be weaker than the previous fortnight and there is also a lower probability of serious flooding in the next 10 days.

The period seems to be worrisome for farmers as the weakening rains will affect the sowing of cotton, soybean, green gram and maize along with other kharif crops, which were progressing slowly in regions like Marathwada, Madhya Pradesh, Gujarat and Rajasthan.

It is anticipated that the next arrivals will be delayed by a month in Maharastra and few other regions in Central India. Worried about the delayed arrivals and unsatisfactory sowing progress for the upcoming season, southern mills were actively buying from Gujrat and Maharashtra.

Globally, the most-active December contract on ICE was up by 1.27 cent at 63.95 cents per lb due to short covering by speculators as the market has touched record lows last week and concerns that tropical storm Barry may damage crop in the delta area.

On MCX, Cotton for delivery in July was up by 0.75% at Rs. 21,490 per Bale of 170 kgs each.

(By Commoditiescontrol)

  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  

Top | Post Comment  

Latest Market Commentary
Cotton Rules Steady To Firm In Central, South India Ami...
Cotton Slightly Up In North On Positive Global Cues
India 2019-20 Kharif Cotton Sowing Status As On Aug 16
Maharashtra (Vidharba) Cotton Spot Rates As On 17 AUG 2...
ICE Cotton Ends Above 60-Cent Mark; Trump Says US-China...
Top 5 News
Cotton Rules Steady To Firm In Central, South India Ami...
Canada/Ukraine White Pea Settles Weak In Mumbai
Cotton Slightly Up In North On Positive Global Cues
Tur, MP Origin Moong Firm In Delhi; Urad Weakens
India 2019-20 Kharif Oilseeds Sowing Status As On Aug 1...
Top 5 Special Reports
Weekly: Urad/Moong Gain Most This Week; Masoor Slips
Tur Prices May Move Up From Current Level
India's Vegetable Oil Import Up 26% YoY In July At 14.1...
USDA Revises Down 2019-20 Global Cotton Production Esti...
Weekly ICE Sugar: Prices End Down Led By Weaker Crude O...
Copyright © CC Commodity Info Services LLP. All rights reserved.