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Related Keywords: Buyers and sellers stayed away, cotton market on Tuesday, cotton stock, diminishing stocks and shortage of quality lint, dull and dreary conditions prevailed, KCA, market was directionless, outlook uncertain, spot rate, undertone was firm

As buyers and sellers stayed away, dull and dreary conditions prevailed on the cotton market on Tuesday. Overall, the undertone was firm but the outlook uncertain as the market was directionless due to diminishing stocks and shortage of quality lint.

According to market reports, no transactions were reported on the ready counter.

At the Karachi Cotton Association (KCA) did not change the spot rates, currently pegged at Rs7,400 per maund.

Related Keywords: across globe, amid small lot buying, Cotton market, cotton production, cotton stock, expected to reduce, from needy mills, International Cotton Advisory Committee report, KCA, prices remained constant, reduce in cotton-sowing area, spot rate revised down

Prices on the cotton market remained constant on Friday amid small lot buying from some needy mills while the Karachi Cotton Association (KCA) revised down its spot rate by Rs50, to Rs5,100.

Price of new phutti (seed cotton) in Thatha was Rs2435, Tando Adam Rs2500, Badin Rs2475, Kunri Rs2375, Tando Allah Yar Rs2425, Mirpur Khas Rs2400, Sanghar Rs2465, Burewala Rs2400, Sahiwal Rs2375 and Pakpattan Rs2375.

Related Keywords: competitive rate, cotton corporation of India, cotton crisis, cotton stock, FICCI, MSP, procurement of cotton, textile minister Santosh Gangwar

Dr. A Didar Singh, Secretary General of the apex industry body Federation of Indian Chambers of Commerce and Industry (FICCI) wrote a letter to Textiles Minister Santosh Gangwar regarding the procurement of cotton by Cotton Corporation of India (CCI) and the persisting cotton crisis.

Related Keywords: cotton stock, export cotton bales, leading mills, less buying interest, modest trading, official spot rate, Pakistan cotton market, prices maintained firmness, reduced interest rate, remained unmoved, seed cotton prices, State Bank of Pakistan

In the process of modest trading, dealers said that prices maintained firmness on the cotton market on Saturday. Some leading mills were on the sidelines owing to less buying interest as per market sources. The prices of seed cotton in Sindh were at Rs 2100-2700 and in Punjab at Rs 2500-3100. The official spot rate remained unmoved at Rs 5500

Experts attributed the fall in activity to larger stock with the leading buyers as they had bought major stock than their needs, so some exporters selling their cotton stock to needy mills.

Related Keywords: cotton stock, decline in net profit, higher raw cotton price, new capacity, sales increased, subsidised debt, textile upgradation plan, topline margin, vardhman Textile Quarter four results

Vardhman Textiles, in its Q4 results has shown decline in net profit by 41.55% to Rs. 90.20 crore in the quarter ended March 2015 as against Rs. 154.32 crore during the previous quarter ended March 2014. Sales increased 9.79% to Rs. 1407.79 crore in the quarter ended March 2015 as against Rs. 1282.21 crore during the previous quarter ended March 2014.

Related Keywords: cotton acreage, cotton price, cotton sowing in china, cotton sowing in india, cotton stock, Farmers in China, Farmers in India, Farmers in US, high-quality US cotton, ICAC, National Cotton Council

According to reports, cotton farmers in US will probably cut down acreage to the lowest since 2009 after prices slumped in January to a five-year low.

Plantings is predicted to drop to 9.73 million acres in the season beginning 1 August, from 11.04 million a year earlier, as farmers will switch to other crops including peanuts. The National Cotton Council is set to release its planting-intentions survey on 7 February.

Related Keywords: cotton production in china, cotton production in India, cotton stock, global cotton production

The latest report "World Agricultural Supply and Demand Estimates" of USDA has pegged global output down from its previous month's estimates. In the same vein, it has upped the year-end stock, implying lower consumption volume in 2014/15. Production is reduced for the US and Greece, with smaller revisions in several other countries.

Related Keywords: Agrp Marketing Intelligenc and Business Promotion Centre, cotton price, cotton stock, cotton trader, selling and sowing decision, Tamil Nadu farmer

Agro Marketing Intelligence and Business Promotion Centre in Tamil Nadu Agricultural University conducted an analysis in Konganapuram Cooperative Marketing Society and also with cotton traders, to educate the farmers about the selling and sowing decision.

It revealed that farmers in Tamil Nadu have a stock of 0.25 lakh bales of 170 kgs each of cotton, since February, expecting higher prices, if export demand picked up.

Related Keywords: cotton stock, mill, Pakistan cotton market, raw cotton, ready cotton

With most of raw cotton and textile business moving at a slow pace, activity in the cotton economy is said to be close to a standstill. At ready cotton market conditions continued to remain dull, though a few sales of ready cotton took place, but several mills were also unloading their cotton stocks.

Textile mills aver that their cost of production has shot up due to increases in cost of power, gas and labour wages. Not many credible reports were being received regarding any cotton import activity by the mills.