ICF (Indian Cotton Federation) is anticipating that the cotton quality will be vastly improved during 2018-19 when compared to the previous season in perspective of the endeavors taken by the Cotton Corporation of India in imposing quality parameters and “ginning practices,” said the ICF President J Thulasidharan. This cotton commodities news is all about the domestic price and advance estimate of the crop as stated by the ICF President.
Indian cotton commodity price usually tend to be higher than the worldwide cost during the season end, yet in 2017-18 the domestic cotton cost remained to rule lower than the global cost. During the present season also, the domestic cotton price is administering 10 percent lower than the worldwide cost, said Thulasidharan.
The fourth advance 2017-18 cotton season estimate had assessed the crop cultivation area at 124.29 lakh hectares. Industry sources anticipate that this area will increase further in this season as compared to that in the past year.
ICF has spoken to the traders against the speculations on the production and price rise of cotton, based on the cotton commodities news.
The ICF President trusted that the cotton availability would stay satisfactory during the 2018-19 season as the MSP (Minimum Support Price) increases 26 to 28 percent, in spite of the ideal monsoon condition, as reported on THE HINDU BusinessLine.
Cotton commodity production has increased due to the rise in cultivation area even though damages due to pink boll worm have been reported in few regions. Some states have even taken steps to control pink boll worm. According to Thulasidharan, cotton commodity prices would further drop once the harvest picks up, as reported on THE TIMES OF INDIA.
The cotton commodity trade had anticipated tight closing stock for the 2017-18 season. However in actuality the cotton industry had adequate stock position, which helped cotton costs to drop from 48,500 Rupees to 46,500 Rupees per bale during the season end, confirms the cotton commodities news.
The post Cotton Commodities News: ICF Expects Crop Quality To Improve Greatly In 2018-19 Season appeared first on OWLT Market.
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