By admin       2018-04-27

After reviewing the crop situation for the 2017-18 cotton year, the Indian Cotton Federation (ICF) believes that the situation is “more stable than expected.” “Cotton farmers were expecting better prices earlier. The arrivals were late, so we thought that the crop was less. But with arrivals at 90,000 bales a day at market yards, we expect the market to be stable,” said J Thulasidharan, President, ICF. Prices did shoot up by ₹1,000, reacting to the New York market moves, but it has now started to show a downward trend. “Those that had invested in cotton are expecting ₹45,000 per bale (of 170 kg each). When it rains, the market tends to move up, as there is a weight gain of 3-4 per cent. But during the month of May, sellers are generally reluctant to sell. Incidentally, after many years, the stock with the trade has peaked,” he told BusinessLine.

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