[Weaving Ribbon News] According to the latest statistics (until July 7), the planting area of ​​new flowers in India has reached 4461600 hectares, a decrease of 32% compared with the same period last year. The difference was 22% in the previous week, and the gap widened further.
    The area of ​​new flowers planted this week is about 945,100 hectares, most of which (621,000 hectares) are distributed in Maharashtra. Gujarat planted only 121,000 hectares due to lack of monsoon rains.

    According to a report last Friday, after the recent interruption, there was another rain in the central cotton region. Gujarat, Maharashtra and Madhya Pradesh all received good rainfall on Thursday night. The weather in Gujarat is cloudy and more rain is needed to facilitate the planting of new flowers.

    Due to insufficient demand, domestic cotton prices in India fell. Shankar-6 Ginning Plant's pick-up price last Friday was Rs 38,000/candy (slightly higher than 108.00 cents/lb), a reduction of Rs 500 from Thursday.

    On the export side, with the announcement of the newly added export quota of 1 million bales last week, export orders have increased. According to reports, there are new deals in the neighbouring markets of India. In view of quality considerations, the demand for imported cotton by textile mills is cold. Approved exporters must submit all relevant documents (including copies of export contracts, letters of credit, etc.) to the authorities before this Friday. If there is an overdue, the current quota is deemed invalid and is prohibited from participating in future Quota allocation.