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.

• The month of February remained confined within a narrow range. For March, the range is expected to be between 65 to 67.5, while for May, it is projected to be between 66 to 68.50.
• The WASDE report was neutral, while both export sales and shipments showed improvement. However, the market remained unimpressed, continuing to trade within a narrow range. Following the March contract expiry, the market remained within the same range, carrying forward its position. NY March contract closed with a monthly loss of 200 points, while NY May contract ended with a monthly loss of 179 points.
• Export sales and shipments performed decently compared to last month.
• In India, the cotton arrival at the start of the month was approximately 1,75,000 bales per day, gradually declining to around 1,00,000 bales per day by the end of the month.
• CCI temporarily halts purchases during the middle of the month but resumes buying at the end of the month.
• CCI has procured nearly 92 lakh bales by the end of February.
• Mills have better parity, allowing them to cover well. However, forward orders are limited, making them reluctant to build additional inventory.
• Indian bases were staying in the range of 1,100 to 1,200, based on current and future trends.
• The Indian rupee depreciated for the first time, crossing the 87 mark against the US dollar. During the month, the exchange rate ranged between ₹86 and ₹87.6 per dollar.
• Overall, the market lacked clear direction, remaining in a narrow range throughout the month. However, the sentiment leaned bearish during this period.
• Hope for better for next month