Market Movement from 12th Dec 2022 to 17th Dec 2022.

• • NY March traded in narrow range from 79 to 82.50 cents this week. Despite disappointing US export sales NY March closed with gain of 97 points W/W.
  • Due to huge cancelation of 48,000 bales net sales remained just 19,900 bales only and total shipment was 1,45,900. Total US export commitments just below 89 lakh bales out of that 35.62 lakh bales already shipped.
  • Indian arrivals increasing now. With slow demand Indian rate looks under pressure. Shankar-6 rate got below to Rs. 64,500 per candy.
  • Mills are very slow in purchase due to slow yarn demand.
  • Indian basis slightly narrowed with down fall in Indian cotton and stable NY futures.
  • Central India is now main source of arrival. Hope for the better arrival in next week.