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.

Monthly Rate Movement

• NY Cotton Futures remained stable during the month of February. NY March was in expiry and traded between small ranges of 122 to 127 cents ultimately close the month with monthly loss of 500 point. NY May was front month which closed with monthly loss of 395 points.
• WASDE was somewhat neutral to bearish.
• US Export sale and shipment was decent and supportive to the market.
• Russia Ukraine conflict created bearish sentiment in the market.
• But overall situation of on call fixing by mills are supportive.
• Market remained inverted in May-July spread by near 300 points while December July spread near 1500 points. It is not favorable for merchants to carry cotton.
• Indian Shankar-6 started at 77,500 and marched towards 79,500 near to touch new market high at 80,000 in mid-February and pulled back the price near 76,000 level after Russia Ukraine conflict.
• In 797 market crashed by 13,000 Rs. Per Candy during the month as the new crop arrivals started. It was a record down fall in short staple variety.
• At present poor demand in yarn did not give liberty to mills to go with higher inventory.
• Higher Indian basis was unsupportive to raw cotton export.
• Rupee get weaker from Rs 74.00 to 75.75 per dollar.
• All India arrival was near 1,30,000 bales at the start of the month and dropped below 1 lakh bales in later part of the month.
• Gujarat arrivals was steady near 35,000 bales a day.
• Coming month due to financial closing month some cash crunch may be witnessed in the market and also yarn market not supportive. So, it looks next month will test the strength of bull-run.