Monthly Rate Movement Report – April 2019
Posted : August 19, 2019

Dear All Cotton Friends,

In our mission to give Daily Spot Rate Team Gujarat is getting valuable support from Gujcot broker’s panel. We appreciated their humble service to the trade. Gujcot Team is giving daily closing of Indian and foreign futures rates.

In this report we have provided Following Rates during the month.

 

  • Daily Physical Spot Rate

 

  • MCX Cotton Daily Closing Rate

 

  • USD-INR Exchange Rate Closing

 

  • Cotlook Index

 

  • ICE Future Closing

 

  • NCDEX Kapas Rate

 

  • MCX Future Closing

 

  • NCDEX and MCX converted into Rs. Candy Rate

 

We hope it will be useful to all the stake holders of Textile Value Chain.

 

Conclusion

  • US China Trade talk has still not reached any concrete solution but negotiations seems to be in its final stage.
  • Indian physical cotton market gained nearly 1500 Rs. a candy during this month and MCX Future also gained back to back.
  • There were very few export inquiries in raw cotton because Indian cotton market remained very firm during this month.
  •  Indian consumers booked import of cotton in handsome quantities to meet their future requirements. 

During the month of April Indian futures and physical both gained near 1500 Rs. a candy but NY May and July futures have lost by 163 and 153 points respectively. March end Indian physical cotton rate was 83.10 cents/lb for 29 mm S6, whereas on 30th April it was 85.36 cents/lb. So effectively Indian Basis improved during the month from 6.25 to 9.41.  Indian rupee remained weaker in later part of the month due to rise in crude prices.

US Export sales were decent 11,38,900 and export and shipment were 15,12,700 Bales. Total Commitments will cross USDA Export target in next one or two weeks but require pace of shipment is more than 4 lakh bales a week.

Indian physical market was in uptrend during first half of the month, while remained stable during the later part of the month.

Arrivals are gradually decreasing and ginners are closing their operations. Very few ginners will continue up to the end of the season. 

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