India Cotton Prices Show Weakness

In the past week, lint prices in India have generally been weak.

But the price of most varieties is still higher than that of the same period last year, except for ELS cotton.

The rainy season in southwestern China has dispelled worries among farmers. As soil moisture improved, they began to resume farm work.

But there are floods in some areas.

According to the current situation, the assessment of cotton production in 2008-09 may begin in a few weeks.

Textile mill procurement progress slowed down because new cotton production is expected to improve.

Price trends can only be known after the assessment of new cotton.

But all factors predict that cotton prices will drop sharply when new cotton begins to enter the market.

From the point of view of textile mills, demand will be reduced, because all production input costs are rising, resulting in a more difficult working environment.

From farmers' perspective, their planting costs are still high, mainly due to inflation, chemical shortage and weather instability.

Rumor has it that because of the slow arrival of the rainy season, some farmers have planted short growing seeds instead of traditional ones.

PUNJAB/HARYANA/RAJASTHAN state, lint prices remain stable, Bengal Deshi cotton spot mainstream price at 2620-2700 rupees / maund, J34 sawtooth cotton spot mainstream price at 2750-2810 rupees / maund.

New cotton is expected to enter the market in 9 months.

J 34 new cotton is quoted at 2550-2650 rupees / maund.

GUJARAT bond.

Lint prices are weak.

Shankar 6 cotton quotation 27200/-28000 rupee / candy, spot, 2008-09 cotton price to 24500 rupee / candy, spot.

V797 mainstream price in 20500/- 21000 rupee / candy, spot.

MADHYAPRADESH state, lint price is stable.

The mainstream price of MECH- 1/H4 is 26300/- 27000 rupee / candy, spot.

MAHARASHTRA bond, 28-30 mm lint price at 27500/- to 28200 rupee / candy, spot.

ANDHRAPRADESH state, lint price is weak, MCU 5 mainstream price in 29600/- 30000 rupee / candy, spot.

KARNATAKA state, lint price is stable.

DCH32 mainstream price in 32500/- 33000 rupee / candy, spot.

The output of super long staple cotton ELS has been greatly reduced because of drought reduction.