Cotton traded bullish tone across major spot market of north India on Thursday. Prices were quoted up to 50-100 / maund yesterday evening. Today weather clear. New crop – cotton traded at ready delivery – In Punjab, Rs 6,050-6,150 a maund. In Haryana, it offered at Rs 5,950-6,100 a maund. while in Upper Rajasthan, quoted readty delivery at Rs 6,200-6,300 a maund.
Cotton spot prices bullish tone across west India market on Thursday. Sankar-6, new crop 29 mm (RD-75 & MIC-3.8), in Gujarat traded at Rs 59,000-59,500 a candy and 28.5mm (RD-74) quoted at Rs.58,000-58,500 a candy. V-797 trade at Rs 48,500-49,500 (12-15% trash condition) a candy. While in Maharashtra, new crop good grade cotton (29mm) quoted at Rs 59,000-59,500 a candy.
Cotton spot price was bullish tone across the major trading centers of south India.
Trading volume remains low on cotton market: LAHORE: The local cotton market on Wednesday remained bullish and the trading volume remained very low. Cotton Analyst Naseem Usman told Business Recorder that trading volume is low due to the foggy weather. He also said that the rate of cotton in Sindh is in between Rs 14,500 to Rs 17,000 per maund. The rate of cotton in Punjab is in between Rs 15,000 to Rs 17,000 per maund. The rate of Phutti in Sindh is between Rs 5,000 to Rs 7,500 per 40 kg. The rate of Phutti in Punjab is in between Rs 5,000 to Rs 8,000 per 40 kg. The Spot Rate remained unchanged at Rs 16,700 per maund. Polyester Fiber was available at Rs 285 per kg.
China's cotton output surges 4.3% YoY in 2022: 27 Dec '22 – China’s cotton output saw a 4.3 per cent year-on-year (YoY) increase in 2022 with almost 5.98 million tonnes of cotton produced. Favourable weather conditions enabled a higher yield per hectare, as per data from the National Bureau of Statistics (NBS). The country’s cotton yield per hectare jumped by 5.3 per cent to 1,992.2 kg. The Xinjiang province, which is China’s largest cotton-growing region, accounted for 90.2 per cent of the nation’s total cotton output in 2022. The yield per hectare in the province rose by 5.5 per cent, local media reports quoted NBS official Wang Guirong as saying. Furthermore, NBS data showed that the total area of cotton fields in China dropped by 0.9 per cent from 2021 to about 3 million hectares.
COTTON & TEXTILES NEWS:
US outperformed Brazil in cotton export during this year so far: 28 Dec '22 – Cotton (HS Code 5201) export from the United States has registered impressive growth in value and volume during current year. The shipment during first ten months of 2022 already surpassed the export of year 2021. However, the export from Brazil may not touch the level of previous year 2021. An analysis of latest data shows that the US is outperformed in the trade. An analysis based on data of Fibre2Fashion’s market insight tool TexPro, cotton export from the US stood at $8.258 billion (3.131 billion kg) during January-October 2022. The country had exported $5.685 billion (2.964 billion kg) during 2021. The shipment was $5.950 billion (3.814 billion kg) in 2020, $6.140 billion (3.560 billion kg) in 2019, $6.550 billion (3.576 billion kg) in 2018 and $5.827 billion (3.252 billion kg) in 2017. The shipment from Brazil was $3.342 billion (1.627 billion kg) during January-November 2022. The country exported $3.405 billion (2.016 billion kg) during 2021. The shipment was $3.226 billion (2.125 billion kg) in 2020, $2.640 billion (1.613 billion kg) in 2019, $1.686 billion (0.974 billion kg) in 2018 and $1.357 billion (0.834 billion kg) in 2017. Quarterly shipment showed seasonal fluctuations as usual. The export from the US was $2.024 billion (0.729 billion kg) in Q3, 2022, $3.200 billion (1.192 billion kg) in Q2, 2022, $2.700 billion (1.087 billion kg) in Q1, 2022, $0.881 billion (0.379 billion kg) in Q4, 2021 and $1.136 billion (0.577 billion kg) in Q3, 2021. Brazil has exported cotton $548.617 million (267.247 million kg) in Q3, 2022, $654.734 million (280.322 million kg) in Q2, 2022, $1,068.058 million (551.641 million kg) in Q1, 2022, $1,126.096 million (640.009 million kg) in Q4, 2021 and $427.726 million (251.959 million kg) in Q3, 2021, as per TexPro.