Dear All Cotton Friends,

In our mission to give Daily Spot Rate Team Gujcot 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.

• Month of July was dominated by bulls in India while NY future failed to cross 91 cents mark.
• NY December was a lead month during July. There is a big open interest and huge on call purchase and unfix sale.
• After two unsuccessful attempt to cross 90 cents, finally NY December crossed 90 cents barrier at the end of the July month.
• U.S. Export was lower due to last month of current US crop season. New year’s export commitment reached near to 3.1 million bales and around 1 million bales current year’s pending shipments will be carried forward to new season.
• China has opened cotton auction from 5 July and they were able to sell entire quantity offered by government.
• Pakistan is lead buyer of U.S. cotton due to lower crop and higher consumption.
• In India cotton rate advanced from Rs 52,000 per Candy to Rs 57,000 per Candy during the month of July. Despite lower international futures, Indian Cotton advanced to new life time high.
• Indian mills are doing well and they consume cotton at the optimum capacity on high margin. They built big inventory. C.C.I. was able to offload big quantity during the month and now they are left with only 9 lakh bales to offer.
• Indian arrival was very negligible and demand is in full swing create big jump in rate.
• Mills are regularly sale yarn in advance and yet they have order up to one month. Mills have golden time this year. Though at current rate margins reduced.
• Farmers have double bonanza with high cotton rate as well as higher cotton seed rate but very few farmers were able to get this benefit. Majority of Kapas was sold out at M.S.P. rate.
• Indian rupee remained stable between 74 to 75 Rs per USD.
• Indian basis gained from +1.77 to +9.00 on nearest ICE contract. At one stage in March it was 1,300 negative. So, we can say that Indian cotton has gained 2,200 basis points in new financial year.
• Over all farmers, Ginners, Traders and Spinners all are happy and hope for same till end of the season.
• Gujarat Cotton sowing reached 22,22,300 hectares on till 2^nd August against 22,16,400 hectares at the same time last season.