Export demand and exchange rate will conclude cotton future prices trend– 07/02/2012

The cotton prices are expected to rule stable, however, further demand of cotton in export and exchange rate will decide the future price trend. In weekend, on 29 January domestic cotton prices of popular variety of S-6 had been in the range of Rs.36800-37300 per candy. The arrivals are still sleeving behind than the last years’ arrivals. The demand in cotton export is less due to holiday in China. However, the domestic mills are covering cotton requirements both for immediate and short term requirements. Due to late sowings, protracted rains as also subsequent Festival days, the pace of crop arrivals had been less as compared to last year. Although the speed of arrivals has been augmented as compared to previous weeks, still the same is lower as compared to previous year due to anticipation of better prices by the cotton farmers. The per day arrivals are now in the range of around 2,20,000 to 2,25,000 as against 2,00,000 to 2,10,000 lakh bales corresponding period last year.

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