Cotton procurement via nation-run Cotton Corporation of India (Cotton Corp) has nearly come to a standstill as fees firmed up within the open marketplace.

CCI has procured 11.6 lakh bales so far, almost four times the amount collected throughout the identical duration the preceding 12 months, pinnacle officers stated and maintained the cotton body might remain in the market to make certain that charges continue to be strong.

The minimal guide rate for medium-staple range is at Rs 5,one hundred fifty consistent with quintal and that for lengthy staple at Rs five,450/quintal. The government had raised the support fee for cotton by using 26% this year.Cotton prices within the marketplace are presently in Rs five,seven-hundred-Rs five,800/quintal and are probably to stay at the better side, marketplace assets revealed.

Until now, around sixty seven% of the cotton has arrived inside the marketplace this season.

The Cotton Association of India (CAI) expects a large drop inside the Indian cotton crop figures for this season as there may be no third, fourth or fifth pickings within the u . S ..

CAI has anticipated Indian crop length of 328 lakh bales of 170 kg against in advance estimation of 330 lakh bales. Last 12 months, crop size changed into 365 lakh bales because of this India will have 37 lakh bales much less crop compared to the previous season.

The contemporary commencing inventory is 28 lakh bales and arrivals are 213.42 lakh bales till February 28. The import has been around five.50 lakh bales as much as February 28, this means that the to be had crop is 246.Ninety two lakh bales. The intake has been round 131.66 lakh bales from January 10, 2019, to February 28.