The arrival of cotton in Indian markets has increased by 10.71 percent year-on-year to 29.7 million running bales of 155-157 kg each by March 31, 2014, according to the latest monthly analysis of cotton market released by Arun Kumar & Company.
By March 31, about 29.7 million running bales of cotton have arrived in the market, compared to the arrival of 26.825 million bales during the corresponding period in the previous season, says the report.
In Gujarat, 9.5 million bales of cotton reached the market, while the adjoining state of Maharashtra recorded arrival of 6.5 million bales by March-end.
Cotton arrivals of 5.3 million bales and 4 million bales were registered in Andhra Pradesh and North Zone markets, respectively, according to the report. Madhya Pradesh and Karnataka also witnessed cotton arrival of 1.7 million bales and 1.65 million bales, respectively.
The report estimates Indian cotton crop in 2013-14 season at 37.5 million running bales compared to production of 34.5 million bales in 2012-13 season that ended on September 30 last year, despite a marginal decrease in crop area.
However, the area under cotton is likely to increase by 7-8 percent during the forthcoming sowing season due to good price of cotton this year, according to the report.
“Cotton consumption has increased by 5-6 percent in recent months due to increase in yarn export and good demand in domestic market,” well-known cotton trader Arun Dalal told fibre2fashion.