Gujcot Weekly Report
Posted : June 04, 2022

Market Movement from 06th Dec 2021 to 11th Dec 2021.

  • NY March started this week with triple digit gain and hold the gain throughout week with minor changes in last four days. Ultimately closed at 106.23 with 203 points gain.

 

  • WASDE was generally neutral with minor changes. A small quantity in US crop increased.

 

  • World's consumption increased and production lowered. Also, correction in Indian opening stock. So, worlds ending stock decline by 1.2 million bales.

 

  • Export sales was healthy to nearly 3.90 lakh bales. But shipment was in slower pace with 1,23,500 bales shipment during the week.

 

  • Indian daily arrival increased to 1.50 lakh to 1.80 lakh bales a day.

 

  • Gujarat shankar-6 price softened but still holds key support near 65,000 Rs per candy.

 

  • Buying slowed down due to lower yarn demand and yarn price.

 

  • Exporters are active for December shipment.

 

  • Gujarat arrival is nearly 40,000 to 45,000 bales a day.

 

  • Indian currency is weaker against USD at 75.76 Rs/USD.

 

  • Indian basis are in positive territory.

 

  • In next week we hope to get better arrival of 2 lakh bales a day.



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