Gujcot Trade Assocation

Gujcot Monthly Rate Movement Report – Sep 2022

Posted : November 16, 2024

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.

Wish all cotton friends healthy, happy and earning new cotton season 2022/23
Month of September was generally steady for the cotton prices but market collapsed after USDA published its WASDE report and NY cotton futures lost 27.87 cents M/M. USDA raised US cotton production to 13.8 million bales from 12.5 million bales in previous month report and US Fed rate hike followed by many other countries triggered sell off in the market. But the main reason was lower global demand. Mills cut their cotton consumption and were running at much below their installed production capacity.
US export sales was lower but US total export commitment for the season is quite high.
First time in recent history Chinese cotton traded cheaper than other origins.
Flood in Pakistan destroyed some standing crop.
Indian physical cotton market also collapsed during September. Gujcot shankar-6 rate remained in red in almost whole month.
S-6 Rate travelled from Rs. 96,000 per candy to Rs. 68,000 per candy in just one month.
North India cotton rates also declined from 9700 to 6700 Rs per mound. During September arrival in North India picked up.
Indian sowing area reached near 128 lakh hectares.
Gujarat cotton sowing area is near 25.5 lakh hectares.
Seems like monsoon withdraw has started in most parts of the country. As of now cotton crop condition is excellent.
Hope for good earning in new season for all stake holders.