Interview

ACCORDING TO MUKESH TAYEGI JI GOVERNMENT SHOULD ALLOW DUTY FREE IMPORT AND EXPORT OF RAW COTTON

By ICC TEAM - Aug 19, 2017 12:00 AM

MUKESH TAYEGI VICE PRESIDENT OF NITMA


ACCORDING TO MUKESHTAYEGI JI GOVERNMENT SHOULD ALLOW DUTY FREE IMPORT AND EXPORT OF RAW COTTON WHICHIS CURRENTLY IN POLICY AND SHOULD BE CONTINUED, TO HAVE GOOD TRADE IN UPCOMINGDAYS.

AS PER HIS VIEWPRICES FOR QUALITY COTTON TO RALLY FROM 42000/- TO 42500/- PER CANDY AND LOWGRADE COTTON PRICES TO BE QUOTED AT 40000/- TO 41000/- PER CANDY AS PERCONDITION.

HE ALSO STATED THATNEW CROP FOR 2017-2018 IS EXPECTED ON TIME, IF IT IS DELAYED BY 10-15 DAYS ITWILL NOT AFFECT INDUSTRY MUCH AS MILL CONSUMPTION HAS BEEN LOWERED FOR LAST 1TO 1 ½ MONTH AFTER GST IMPLEMENTATION INSPITE OF DELAY ALSO INDIA WILL HAVESURPLUS COTTON TO SUSTAIN.

VIEW ON DOLLAR: IT ISTO RALLY FROM 63 TO 64 LEVELS.

Comments
Spot Prices
Cotton: Maharashtra (19/Oct 10:35 AM)

AGD (BB/29M) 37,000 300 0.82 %
Akola (Fardar/25/27M) 0 0 100.00 %
NGP (MECH-1/28M) 0 0 100.00 %
NGP (MECH-1/29M) 37,800 0 0.00 %
Yarn: Punjab (16/Oct 02:35 PM)

Ludhiana(20S Comb(Wrap)) 175 9 5.42 %
Future Prices (19/Oct 10:23 AM)
ICE Cotton No.2 (USC/LB)
Dec 31, 2020  71  1 1.30 %
Mar 01, 2021  71  1 1.26 %
May 31, 2021  72  1 1.18 %
ZCE (Yuan/Ton)
Nov 30, 2020  14,635  475 3.35 %
Jan 31, 2021  14,895  430 2.97 %
Mar 31, 2021  15,025  495 3.41 %
Exchange Rates (19/Oct 10:23 AM)
1 US $ = Rs 73.41
0.07 0.10%
1 UK £ = Rs 94.88
0.05 0.05%
1 Eur € = Rs 85.93
0.11 0.13%
100 ¥en = Rs 69.63
-0.05 -0.07%
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