New Delhi. There is an all-round uncertainty in the market due to the spread of Corona virus in China. Due to this, the prices of cotton and raw yarn have come down by 4 percent. While the price of Rajma has increased by 8 percent. Industry institutions and traders say that price fluctuations may continue for some time before the situation is clear.
According to industry estimates, 50 percent of the annual revenue from China for domestic needs in the country. Is imported. With this, 25 percent of the annual export of cotton and cotton from India is sent to China. Rajma Exporter Pradeep Kumar Runwal said, "Due to non-shipment from Dalian Port in China, prices of Rajma have risen 8 percent to $ 1,100 in the global market. The shutdown continues in China and 300 containers coming to India are stranded at the port. Prices will rise within a month as soon as it reaches the domestic market. ”
Cumin prices have fallen by about 20 percent in the last two months. This is due to the possibility of record yield of cumin and outbreak of Corona virus in China. Cumin is counted in important spices in terms of import. Cumin price for the March delivery contract on the National Commodity and Derivatives Exchange is around Rs 135 per kg, which is 20 per cent lower than the previous two months. Cumin yields are expected to be higher this year. Hence, cumin exporters are expected to stabilize at around Rs 140.
Exporters said that export quality (30 carded yarn) cotton yarn prices In the last 10 days, it has come down by 3-4 percent to Rs 185-200 per kg. Similarly, cotton prices have also come down by 4 percent to 39,500 per candy (356 kg). A total of 410 crore kg of cotton yarn is produced from the country. Of this, 110-120 million kg is exported to China. Sanjay Jain, MD, TT Limited, said, "There has been some improvement in sentiment due to the shutdown in China. Exactly how much effect has occurred will be estimated by this week or next week. 'All buyers are postponing purchases as they expect prices to fall.
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