A Proud Moment for All Indians: Victory in Operation Sindoor

It is a moment of immense pride and honor for every Indian as our brave Indian Army has once again demonstrated unmatched valor and strategic brilliance by defeating Pakistan and successfully completing Operation Sindoor. This operation stands as a symbol of India's unwavering commitment to national security and its resolve to eliminate the threat of terrorism from its roots.

The successful execution of Operation Sindoor marks a significant milestone in our ongoing efforts to secure peace and stability in the region. Our soldiers, with their unmatched courage, dedication, and sacrifice, have once again proven that the integrity and sovereignty of our nation are non-negotiable.

We, the team at Gujcot, wholeheartedly stand in solidarity with the strong and visionary leadership of our beloved Pradhanmantri Shri Narendra Modi ji. His firm stance on zero tolerance against terrorism reflects the spirit and sentiment of every true Indian. Under his leadership, the message to the world is loud and clear: India will not hesitate to defend itself and will always uphold justice and peace.

Let us take this moment to salute the indomitable spirit of our armed forces and extend our deepest respect and gratitude to them. Their sacrifices shall never be forgotten.

Jai Hind!
Vande Mataram!

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• The bearish WASDE report continued to pressure prices downward, leading to another week of triple-digit losses for NY July. The contract closed the week with a loss of 172 points, week-over-week.
• Export sales were slow for the upcoming marketing year due to uncertainty about tariffs. However, shipments remained robust, even without China. Vietnam, Turkey, and Pakistan were the main destinations. Given this performance, the export target should be revised upward.
• The USDA's May 2025 WASDE report projects a modest increase in U.S. cotton production for the 2025/26 season, with higher exports and stocks but unchanged domestic consumption compared to 2024/25. Improved weather in the Southwest is expected to lower abandonment rates, increasing harvested area, although yields are projected slightly lower than the previous year. Exports are forecast to rebound due to higher global demand and larger beginning stocks, while ending stocks are set to rise to 5.20 million bales. The season-average price is projected at 62 cents per pound, down one cent from 2024/25. Globally, 2025/26 supply rises slightly, consumption grows by 1.2% led by South and Southeast Asia, and trade is up over 5%, driven by higher exports from the U.S. and Brazil. Meanwhile, 2024/25 global production, consumption, and trade have been revised upward, with ending stocks slightly reduced to 78.40 million bales, largely due to better-than-expected yields in Australia and adjustments in South Asian import demand.
• In the latest U. S. Export Sales Report for the week ending 08-May-2025,  U.S. cotton export sales showed moderate activity. Net sales of upland cotton for the 2024-2025 marketing year totaled 1,22,200 bales, while shipments were significantly higher at 3,29,200 bales, indicating strong delivery performance. Net sales of Pima cotton reached 5,000 bales, with shipments totaling 9,600 bales. Combined, total sales for the current marketing year amounted to 1,27,200 bales. Looking ahead to the 2025-2026 marketing year, net sales were reported at 34,200 bales for upland cotton and 4,400 bales for Pima, bringing the total forward sales to 38,600 bales.
• The Gujcot Spot Rate showed a gradual decline over the course of the week. On Monday, the rate stood at ₹54,350, followed by a slight drop to ₹54,200 on Tuesday and Wednesday. The downward trend continued with Thursday's rate at ₹54,100 and closing the week at ₹54,000 on Friday. Saturday's rate was ₹54,000. Overall, the market reflected a steady, marginal decrease in cotton prices throughout the week.
• The Indian physical cotton market has been steadily trending downward. As the Cotton Corporation of India (CCI) has been unable to attract buyers, it revised its rates lower by ₹500 per candy. However, even at these reduced rates, buyers remain uninterested. This indicates that demand is currently very sluggish.
• Indian spinners are struggling to find buyers for yarn because Indian cotton is expensive.
• A weaker Indian rupee is generally better for Indian exports, but despite the depreciation, futures prices remain elevated.
• During this week, the Indian basis remained between 14.57 and 15.67.
• This week, the USD-INR exchange rate exhibited moderate fluctuations. It began at 85.37 on Monday and saw a slight decline over the next two days, reaching 85.33 on Tuesday and 85.27 on Wednesday. However, the trend reversed towards the end of the week, with the rate rising to 85.55 on Thursday before settling at 85.50 on Friday. Overall, the rupee experienced minor volatility within a narrow range.
• Hope for best