The Volume Of Cotton Arrived In Mid October In India, But Traders Preferred To Wait.
Northern and Western India
cotton
The market is beginning to enter, but the expected volume is expected to expand in mid October.
The farmers expect to sell a good price this year. In September 11th, the selling price in Maharashtra reached 4000 rupees / weight, but most businessmen were more willing to wait until November. They hope that this year's harvest will make the price more moderate.
Jalgaon area
Agriculture products
Prakash Patil, chairman of the APMC, said the number of goods arrived every day was only 150-300.
The water content of cotton is 25-30%, and the government restricts the maximum water content to 8%. In the year October 2010 begins, the price range may be maintained at 3500-4000 rupees / weight.
The number of arrivals in Punjab and the state of kraja reached 3000 bags per day (170 kilos per pack), but Rajasthan just started picking cotton.
Although the planting area in the state of Rajasthan and Rajasthan was reduced, output remained at a level of 4 million 100 thousand a year.
Rakesh Rathi, President of India North Cotton Association.
This year, three Uttar Pradesh has an area of 1 million 240 thousand hectares, compared with 1 million 443 thousand hectares in 2009-10 years and a price of 3500-3900 rupees / weight.
India Cotton Corp has not yet started
Buy
Because the price is too high.
In the 2009-10 year, the Cotton Corp of India began buying in September, when the price was 2800-2900 rupees / weight.
Cotton traders say exporters are not likely to enter the market now. Their interest is in 11-12 months' forward delivery.
Cotton futures quoted 3500 rupees / maund (37.324 kg) in November.
The ginning merchants in Gujarat believe that the average price of the open market may remain above the minimum price of 2010-11 years announced by the central government.
The textile Commissioner's office said that the minimum support price increase of 40% in 2008-09 is abnormal, and the minimum supporting price in 2010-11 years needs stability.
This may lead farmers to sell cotton to unofficial traders rather than sell them to government agencies.
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