Indian cotton arrival up 12.87% by Feb 28

The arrival of cotton in Indian markets has increased by 12.87 percent year-on-year to 24.55 million bales of 170 kg each by February 28, 2014, according to the latest monthly analysis of cotton market released by Arun Kumar & Company.

 

By February 28, about 24.55 million bales of cotton have arrived in the market, compared to the arrival of 21.75 million bales during the corresponding period in the previous season, says the report.

 

In Gujarat, 7.95 million bales of cotton reached the market, while the adjoining state of Maharashtra recorded arrival of 5.4 million bales by February-end.

 

Cotton arrivals of 4.1 million bales and 3.3 million bales were registered in Andhra Pradesh and North Zone markets, respectively, according to the report. Karnataka and Madhya Pradesh also witnessed cotton arrival of 1.5 million bales and 1.45 million bales, respectively.

 

The report estimates Indian cotton crop in 2013-14 season at 37.5 million bales compared to production of 34.5 million bales in 2012-13 season that ended on September 30 last year, despite a marginal decrease in crop area.

 

However, the area under cotton is likely to increase by 7-8 percent during the forthcoming sowing season due to good price of cotton this year, according to the report.

 

Commenting on the report, well-known cotton trader Arun Dalal told fibre2fashion, “This is the right time to purchase cotton for consumer to maintain further stock.”