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Cotton arrivals delayed due to rains

Chandigarh: Cotton spot prices are expected to break the prolonged-bearish price trend in Northern markets where the arrival of fresh cotton is set to be delayed due to recent rains in Punjab, Haryana and Rajasthan. Arrival of fresh crop is expected to be delayed due to rain that has drenched the North-eastern states. Arrival of raw cotton has begun in the last week in markets in Southern Haryana, signalling onset of fresh cotton season in North. The cotton arrival peaks by end of S

"Prices may show upward trend in coming days due to delay in market arrival of fresh cotton after recent rains," Textile manufacture Vardhman TextilesBSE 0.58 %' director (raw materials) I J Dhuria said. He said that the cotton supply in global market is expected to be comfortable as area under the crop has increased in major growing countries including India, China, US, Brazil and Pakistan.

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This affluent collection is an indulgence to the womCotton prices have come down by 8 per cent since April this year. The spot prices that stood at Rs 4800 per quintal come down to Rs 4500 -4300 per quintal in the last week of August. The prices are expected to strengthen but will remain below Rs 5,000 per quintal, most traders maintain.

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"Cotton prices are expected to evade major price rally as ginners as well as the textile industry is margin-stressed after the prices remained firm in the last year," Rakesh Rathi, president, Indian Cotton Association Limited (ICAL) said. He said that the crop is expected to be more than the last year in northern states. Rains may briefly affect cotton arrival in North but it is expected to boost yield and control pest attack.

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