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Gayathri G

Chennai, Dec. 19For only the second time this marketing year, weekly arrivals at ginning mills surpassed the same week a year ago.

According to a report by Globecot, an international apex body for cotton trade, for the week ending December 13, arrivals surpassed 14 lakh bales (170-kg), the highest so far this year. Every State except Maharashtra and Tamil Nadu reported higher volume this week than a year ago. Stronger arrivals from Rajasthan (plus 65,000 bales) and Madhya Pradesh (up 50,000 bales) in particular drove the increases.

Cumulative volume so far this year stands at 86 lakh bales against 107 lakh bales in the same week last year.

“But the season-to-date pace is reminiscent of the cumulative pace seen in 2006-07, when production hardly reached 280 lakh bales,” Globecot report states.

The next three weeks will be key in narrowing the forecasted production figure, as weekly shipments peaked during this period in the last several years.

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