31mn Bales Pressed Till Now

31mn Bales Pressed Till NowAround 31 million bales have been pressed till now in the current cotton season, according to an Indian Cotton Federation (ICF) report for the fortnight ended March 31, 2015.

The CCI has procured approximately 8.6 million bales of cotton till now and cotton off take from CCI godowns is seeing a positive trend in the last few days as many mills have started buying CCI cotton.

The report said that cotton prices are moderately firming up, although mill demand is still moderate as they have to fulfill year-end financial commitments.

The new export and import policy has received mixed reactions from cotton textile stakeholders. In Punjab, Haryana and Rajasthan, untimely rains and hailstorms have damaged all the standing agricultural crops.

However, cotton may not be affected much because the season is coming to a close and kappas arrivals have dropped drastically in most of the cotton growing areas in this region.

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