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.

• November was the month of full arrival in India. Arrivals also peaked in Pakistan, China and US. After huge downfall in all commodities and equity markets now markets are on recovery. Trade and economic activities now getting back on track.
• NY future market remained volatile because NY December future was on notice and in roll over of positions. Overall NY December closed with 167 points monthly gain. While lead March month closed with 237 points gain monthly.
• Technically NY looks strong and funds and speculators hold their long position. US harvesting is getting close to end and some selling pressure from farmer side now putting pressure on NY March future.
• Export demand of US cotton remained continuously good and US is committed more than 70 lakh bales. To achieve 14.6 million bales export target looks easy.
• Chinese Zhengzhou futures remained in steady mode after decline from 15,000 levels.
• Indian physical market was on negative basis at the start of the month. Due to cheaper prices, export of cotton and cotton yarn was on peak.  Throughout the month market saw very good buying and sharp uptrend was seen in middle part of the month. During Deepawali festivals market jumped up towards 42,000+ levels and corrected in last week to 41,200.
• During this new season CCI supported with full buying and till November CCI has procured nearly 28 lakh bales of cotton under MSP procurement.
• CCI implemented new sales policy and is selling currently procured cotton also. CCI was able to offload hand some quantity during November.
• All India crossed 3 lakh a day during few days of November which is a record of the decade. Over all regular daily arrivals stand above 2 lakh bales a day.
• In Gujarat except festival day’s arrival remain between 40,000 to 55,000 bales a day.
• Cottonseed rate travel from 480 to 560 Rs per Maund (20 Kg).
• Overall month of November remained Bull dominated month. All futures and physical rate both gained well.