Gujcot Weekly Report
Posted : June 04, 2022
Market Movement from 13th Dec 2021 to 18th Dec 2021.
- NY March ended this week with 107 points weekly gain. On Thursday market gained over 300 points but gave away some gain on Friday.
- US export sales was better but lower than prior week. US export shipment accelerate to 1,40,000 bales, market has taken is as positive sign.
- Indian physical market remained slightly higher following NY future but demand was very slow at higher rate. Gujarat shankar-6 again crossed 66,000 Rs per Candy mark.
- Despite weaker rupee Indian basis are still in positive territory. Indian exporters are not able to find buyer at higher basis.
- Slow arrival till in December did not gives parity to ginners.
- Gujarat arrival is just near 45,000 bales a day with 600 factories running at slow pace.
- Indian rupee remained weak during the week at nearly 76 Rs a USD.
Hope for some better arrival from next week.