SICA's Market Report
Summer cotton sowing is heading towards completion in some tracts in Tamil Nadu, even as the un-seasonal showers experienced by the State have affected the standing cotton crop (early sown ‘masipattam’), according to the South India Cotton Association’s latest fortnightly market report. The report said the crops raised in the rice fallows at Thanjavur, Tiruvarur, and Nagapattinam tracts were affected by water logging.
At the same time in districts such as Perambalur, Virudhunagar and Tirunelveli the demand for cotton sowing has gone up, the trigger being the higher prices offered to cotton crop, the report added. In the meantime, cotton lint prices in the domestic market continued to rally along with the global price equations. Most terminal markets, during the fortnight ended March 31, have reported lower arrivals of cotton. The daily arrivals dwindled from 72,000 bales as on March 15 to 60,000 bales by the month-end.
The total arrivals so far this season (say as on March 20) is, however, higher at 265.90 lakh bales as against 230.50 lakh bales for the same period in 2006-07, the SICA report said. However, on the consumption side the textile mills continued to face liquidity problems arising from slower yarn movement, power shutdowns, and non-availability of quality cotton, the association’s report said.
