Gujcot Weekly Report
Posted : October 24, 2020
Market Movement from 28th Sep 2020 to 03rd Oct 2020
- NY December close as near to un change W/W. It was cross 66 for some time and go below to 65 for some time but close whole week in very tight range between 65.26 to 65.92.
- U.S. Export Sales was decent and now turkey was main buyer of us cotton.it will show positive sign.
- Next week's WASDE will give new direction to market.
- In India CCI starts new procurement in north. But yet farmers not able to approve kapas in moisture. CCI daily put auction of old crop but not finding big buyer.
- New crop arrivals gradually started in M.P, Maharashtra, Gujarat and North. Mills has lot of options to buy. CCI 2018/19 and 2019/20, reseller of CCI cotton ,old kapash new pressing and new crop.
- Gujcot new crop rate are in shorter range near 36,800.
- Gujarat Cotton Sowing area reached 22,79,200 Hectares as on 28th September against last year’s 26,66,800 hectares at the same time.
- Indian rupee remained stable between 73.14 to 73.85 against USD compared to last week.