Due to the release of stocked cotton by the farmers, the prices declined.Cotton prices have declined by 8% and 12%, respectively, in futures trade and at the farm gate in the past fortnight as farmers, who were expecting prices to return to last year's record-high levels, started selling Is. their produce.Daily arrivals of cotton in the markets increased five-fold to 100,000 bales (each weighing 170 kg) in May from the historical average of 20,000 bales per day. Ravi Sam, president of the Southern India Mills Association (SIMA), said, "I have not seen such a high arrival in May. 100,000 bales a day is something that used to get over by January/February."The June cotton contract on MCX was down 3.05% on Monday. In the spot trade, cotton prices in Maharashtra declined from ₹62,000/candy (each candy 356 kg) to ₹57,000, while raw cotton with seeds sold by farmers to ginners fell to ₹8,000/quintal a fortnight ago. 7,000-7,200 on Monday.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/newsdetails/2420
Rupee opens flat at 82.83 against US dollarThe Indian rupee opened flat against the US dollar on Tuesday at 82.83 as compared to the previous close of 82.83.The dollar index gained against most Asian currencies with the offshore Chinese yuan slipping to 7.0630 to the dollar.Rupee opens flat at 82.83 against US dollarThe Indian rupee opened flat against the US dollar on Tuesday at 82.83 as compared to the previous close of 82.83.The dollar index gained against most Asian currencies with the offshore Chinese yuan slipping to 7.0630 to the dollar.
Light trading on cotton market in PakistanLAHORE: The local cotton market remained stable on Monday with satisfactory trading volume.Cotton analyst Naseem Usman told that the rate of cotton in Sindh is 17 thousand to 20 thousand rupees per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 per head.The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg. Mir Pur Mathelo sold 400 bales at Rs 21,500 per head (condition) and Khair Pur sold 800 bales at Rs 20,500 per head.400 bales of Mir Pur Mathelo were sold at Rs.21,500 (condition) per head, 800 bales of Khan Pur were sold at Rs.20,500 per head.The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.
Rupee weakens by 17 paise against dollarThis evening, the rupee closed at a level of Rs 82.83 against the dollar with a weakness of 17 paise.Sensex up 234 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 61963.68 points with a gain of about 234.00 points.On the other hand, the Nifty closed at the level of 18314.40 points with a gain of 111.00 points.
Weekly Cotton Review: Rates steady amid low trading volumeKarachi: Stability was observed in cotton prices last week. trading volume; However, little continued to happen. The New York cotton rate was increased. Finance Minister Ishaq Dar has directed the concerned officials to solve the problems of the textile sector on priority basis to address the long standing grievances of the textile sector.All Pakistan Textile Mills Association (APTMA) is planning to start a pilot project for research and development to develop activated cotton seed and increase cotton production. Cotton sowing is in full swing. The condition of cotton crop is satisfactory. The concerned institutions are actively working.Cotton prices remained steady in the local cotton market during the last week but trading volumes were thin as textile mills continued to face severe distress.Textile sector leaders are complaining of 'step-motherly treatment'. They are also complaining about not being heard by the government.There is uncertainty in the local textile sector after the government withdrew incentives given to the textile sector, including gas and electricity at subsidized rates, issuance of sales tax refunds, abnormal increase in interest rates. The deepening financial crisis and recession in the US and European markets are also adversely affecting the textile sector. In this way, the textile sector is in serious trouble, which also affects the cotton market.Cotton production in the country this year is less than 50 lakh bales compared to previous years, yet farmers have a stock of more than 1.5 lakh bales till the coming of the new season. Some textile mills are finalizing deals of 100 or 200 bales on credit basis.The new season is about to start and in fact the arrival of the new cotton crop has partially started. As per the information received, cotton sowing is satisfactory. Experts believe that if weather conditions are favourable, cotton production is expected to exceed one crore bales, though the official target has been fixed at one crore twenty-seven lakh seventy thousand bales. Concerned government agencies are actively working to increase cotton production.The rate of cotton in Sindh ranged from Rs 18,000 to Rs 20,500 per head. The rate of footi available in limited quantity was Rs 6700 to 8000 per 40 kg. The rate of cotton in Punjab ranged between Rs 19,000 to Rs 21,000 per head. rate of khal, banola and oil; Stay still though.The spot rate committee of the Karachi Cotton Association kept the cotton rate unchanged at Rs 20,000 per head.Naseem Usman, president of Karachi Cotton Brokers Forum, said that the futures trading rate of New York cotton continues to be in an uptrend, while the market in India remains bearish.According to USDA's weekly export and sales report, one lakh thirty two thousand bales were procured for the year 2022-23.China topped the list by purchasing 62,000 tonnes of bales. Vietnam bought 24,000 bales and finished second. Pakistan bought 18,900 bales and stood third. Twenty eight thousand one hundred bales were procured for the year 2023-24. Bangladesh topped the market by purchasing 12,000 bales. South Korea was second with 6,600 bales. Turkey bought 4,400 bales and came in third.Federal Minister for Finance and Revenue Mohammad Ishaq Dar held a meeting with a delegation of All Pakistan Textile Mills Association (APTMA) at the Finance Department, which was patronized by Dr. Gohar Ejaz. APTMA President Asif Inam, SAPM Finance Tariq Bajwa, SAPM Revenue Tariq Pasha, Punjab Energy Minister Syed M Tanveer, Secretary Finance, Secretary Power, Secretary Petroleum, Chairman FBR, and other representatives of APTMA and officials of Finance Department attended the meeting participated in . Gauhar appreciated the government for supporting the textile sector by fixing the minimum price for cotton.He briefed the Finance Minister on the significant contribution of the textile sector to the country's economic growth and development through revenue generation, generation of employment opportunities and enhancement of Pakistan's exports. He apprised the Finance Minister about the issues being faced by the textile industry with regard to supply chain, regulatory issues with respect to imports and exports, and issues related to energy as well as supplies to various plants in the Punjab province.The delegation also discussed about the existing disparities between the provinces with respect to energy prices and supplies and sought the support of the Minister in this regard.Finance Minister Dar acknowledged and appreciated the contribution of the textile sector in the economic well-being of the country. He committed the government to provide maximum facilitation to the textile sector to strengthen the export sector and enhance Pakistan's export-led growth.In addition, the Finance Minister also directed the concerned officers to resolve these issues on priority basis. The APTMA delegation thanked the Finance Minister for extending support to resolve their issues on time.
Rupee weakens by 6 paise against dollarThis evening, the rupee closed at a level of 82.66 against the dollar with a weakness of 6 paise.Sensex dropped 298 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 61729.68 points with a gain of about 297.94 points.On the other hand, the Nifty closed at a level of 18203.40 points with a gain of 73.40 points.
Bangladesh lifts fumigation requirements on US cotton after CCI-sponsored US cotton tour A Bangladesh Ministry of Agriculture delegation sponsored by the Cotton Council International (CCI) is visiting the United States from October 30 through November. On 5, 2022, with the unrelenting efforts of the Foreign Agricultural Service (FAS) office of the US Department of Agriculture (USDA) in Dhaka, the government of Bangladesh has finally been persuaded to relax its nearly five-decade-long fumigation requirement on US cotton imports. took.The change would remove a significant export barrier for US cotton to Bangladesh, as well as save Bangladeshi mills time and money as they turn to the U.S. to meet their cotton fiber import needs. Bangladeshi mills are paying more than a million dollars annually to cover unnecessary fumigation costs imposed on cotton imported from the US.U.S. exporters will continue to use APHIS-generated phytosanitary certificates, but under the new regulation the certificate will contain additional language confirming that U.S. There are no live boll weevils in belted cotton. APHIS will issue revised instructions to exporters.Bangladesh's agriculture and commerce ministries decided to lift the fumigation requirements after six delegation members from Bangladesh's agriculture ministry coordinated with the National Cotton Council (NCC) to attend a CCI-sponsored U.S. Cotton took part in the tour. The delegation learned why American cotton bales do not harbor live boll weevils, including a review of the US cotton industry's successful boll weevil eradication program and its modern cotton harvesting and standardized ginning techniques.Bangladesh currently ranks as the No. 2 global importer of cotton, according to USDA FAS' global market analysis in May 2023. Although there is some domestic cotton production in Bangladesh, it accounts for 1% or less of the total demand.Bangladesh was a top 10 export market for US cotton in 2022, with an export value of $477.07 million (https://www.fas.usda.gov/regions/bangladesh).The Cotton Council International (CCI) is a non-profit trade association that promotes American cotton fiber and manufactured cotton products worldwide with our Cotton USA mark. Our reach extends to more than 50 countries through 20 offices across the globe. With over 65 years of experience, CCI's mission is to make American cotton the preferred fiber for mills/manufacturers, brands/retailers and consumers, commanding a value-added premium that drives profitability in the American cotton industry and Increases exports of fibre, yarn and other cotton products.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/en/news-details-english/dollar-news-rupee-news-paise-smartinfo-sensex-nifty-news-today-open-dollar-news
Rupee falls 11 paise to open at 82.71 per US dollarThe Indian rupee extended its decline and opened lower on Friday weighed by a rising dollar index amid hawkish comments from Federal Reserve officials. The local currency opened at 82.71 per dollar as compared to its previous close of 82.60, nearing its lowest level in almost two months.Nifty falls below 18100, Sensex dips 90 pts; Bank Nifty below 43700, ITC falls 2%, Infosys gainsShare Market News Today | Sensex, Nifty, Share Prices LIVE: On Friday, the NSE Nifty 50 jumped 46.80 points or 0.26% to 18,176.75 and BSE Sensex rose 102.21 points or 0.17% to 61,533.95.
Spot rate unchanged in cotton marketLAHORE: The local cotton market remained steady on Thursday with low trading volume. Cotton analyst Naseem Usman told that the price of cotton in Sindh is between Rs 17,000 to Rs 20,000 per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 per head.The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.Around 200 bales of Haroonabad were sold at Rs 20,500 per head. The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.
Rupee weakens by 22 paise against dollarThis evening, the rupee closed at a level of 82.60 against the dollar with a weakness of 22 paise.Sensex fell 129 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 61431.74 points, down by about 128.90 points.On the other hand, the Nifty closed at the level of 18130.00 points with a fall of 51.80 points.
Cotton prices rise, apparel exports downAHMEDABAD: An overall bearish trend in the major worldwide economy and rise in cotton prices have adversely impacted the entire textile value chain and exports.According to the data presented by the Confederation of Indian Textile Industry (City), there has been a decline of 20% in textile exports.Apparel exports in April this year compared to the same period last year up 23%.In April 2023, textile exports fell to $1,540 million in India from $1,942 million while for apparel it fell to $1,210 million from $1,574 million, according to Citi.Total textile commodity exports also declined by 12.69% during the same period.With demand falling in both domestic and international markets, fresh orders have not been placed and as a result, manufacturers are reeling under a liquidity crunch amid rising inflationary pressures."The overall economic scenario across the world has weakened the prospects of exports from India for both apparels and textiles. Since demand is low, fresh orders are not being placed. Also cotton prices have fluctuated. Production The industry was affected in terms of increasing costs," said a senior member of the Clothing Manufacturers Association of India (CMAI).Yarn makers say there is a huge pile of inventory. Besides, the demand has been affected by the volatility in the price of cotton. Textile industry playersGaurang Bhagat, president of Muscati Cloth Market Mahajan, the apex body of cloth traders of Ahmedabad, said, “Our cloth exports have been adversely affected since last one year due to high cotton prices. Cotton crop is good,But the arrival of cotton is slow and hence our cotton is costlier as compared to what is available in the international market."Additionally, export demand is weak due to high inflation in US and European markets. Domestic demand is also weak but we are confident that there will be revival soon as the market gears up for the upcoming festive season."
Cotton farmers were asked to opt for bed planting.CHANDIGARH: This cotton sowing season is prompting the people of Punjab to go for bed planting for the state's farmers. Besides promising proper, the method requires less water for germination and keeping weeds at bay. It is expected that more number of progressive farmers have switched to technology in this season.As recommended by Punjab Agricultural University (PAU), sowing of bed plantation can be done by tractor driven tractor using bed planter with row to row distance of 67.5 cm and plant to plant distance of 60 cm. Farmers can give water to the crops in furrows and in the rainy season, the excess water also drains out through these furrows.Agriculture director Gurvinder Singh said that bed planting cotton was a better method and farmers had shown interest in it this season. The department has held demonstrations for the farmers in various districts.“Farmers in the state were motivated to switch to cotton from paddy to save groundwater. More farmers will opt for bed planting once they realize that it comes with benefits. The crop is easier to pick and they get better returns," said Dr Jaswinder Singh Brar, Plant Protection Officer.
Business activities have improved in the cotton marketLAHORE: The local cotton market remained stable on Wednesday with a marginal improvement in trading volume.Cotton analyst Naseem Usman told that the price of cotton in Sindh is between Rs 17,000 to Rs 20,000 per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 per head.The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.About 300 bales of Shahdad Pur were sold at Rs.15,500 per head, 600 bales of Tando Adam, 200 bales of Kotri Kabir and 200 bales of Rani Pur at Rs.18,000 per head.The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.
Rupee weakens by 17 paise against US dollarThis evening, the rupee closed at a level of 82.38 against the dollar with a weakness of 17 paise.Sensex dropped 372 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 61560.64 points with a fall of 371.83 points.On the other hand, the Nifty closed at a level of 18181.80 points with a fall of 104.70 points.
Punjab state government has extended the deadline of 33% subsidy on cotton seeds till MayPunjab state government has extended the deadline of 33% subsidy on cotton seeds till May 31, more than 50,000 farmers have already registered for the subsidy. Delayed harvesting of wheat has affected sowing of kharif crop, with only 44 per cent of the target being met so far. The high number of subsidy registrations has been taken as a positive sign that farmers are looking to grow cotton instead of crops that have failed in the past two years.The state government has extended the date to apply for 33 per cent subsidy on cotton seeds till May 31. Delay in harvesting of wheat has also affected the sowing of major kharif crop. Sowing has been done so far 44% of the target of 3 lakh hectares for Kharif season 2023-24 has been completed on 1.30 lakh hectares More than 50,000 farmers have registered themselves for subsidy on cotton seeds so far.Last year the area under cotton crop was 2.47 lakh hectares“With average rates of raw cotton being much higher than the MSP in the last two seasons, farmers are reposing faith in the state government's preparedness for the cash crop. Initially, it was feared that many cotton growers may shift to paddy wherever irrigation facilities are available, but trends in subsidy registration and sowing area reflect farmers' interest in the cotton crop," the state said. said an official of the agriculture department.According to official information, maximum 19,109 applications have come for Fazilka subsidy till May 15. The district is also a leader in cotton sowing with about 74,000 hectares covered under the crop. Against 96,000 hectares under cotton in 2022-23, officials had set a target to sow cotton on 1.05 lakh hectares this year, Fazilka chief agriculture officer Jangid Singh said, adding that the district has already achieved 70% of the target. “Canal based irrigation support has been audited at a satisfactory level and the target will be achieved in seven to 10 days.In Bathinda, the second largest cotton producing district, around 13,000 farmers have applied for the subsidy. This year, against the target of 80 thousand hectares, sowing has been done in 20 thousand hectares. And officials said it would pick up the pace in the next few days.Muktsar chief agriculture officer Gurpreet Singh said the subsidy introduced in the first instance would motivate Punjab farmers to use only approved varieties of cotton. “In the last two kharif seasons, Punjab saw a sharp decline in cotton production Went. Pest attacks observed in districts of cotton growing state and use of rejected varieties reportedmajor reason behind failed crop,” he said.Mansa, another major cotton-growing district, has received 10,000 applications for the subsidy till date. Cotton has been sown in 19,000 hectares. Satpal Singh, chief agricultural officer of Mansa, said the recommended time for sowing cotton is between On 15th April and 15th May, the crop gets attacked by pests. But farmers had to delay sowing due to inclement conditions on several days in the last month.”After an intensive campaign by extension teams of the state agriculture department, farmers have reposed confidence in traditional cash crop cultivation. We have seen an impressive registration to avail the subsidy and a sharp jump in sowing is expected in the coming days.”
China has ordered 5 thousand tonnes of cotton yarnAHMEDABAD: Lower production of cotton crops in China's Xinjiang province this year has resulted in the country ordering nearly 5,000 tonnes of cotton yarn from India in the last fortnight. The province produces more than 70% of China's total cotton production.The latest orders are going to help the Gujarat based. The spinning mills undergoing idling are on a large scale as most of the orders will be fulfilled by the state's spinning mills in the next two months.Indian cotton prices have remained higher than international prices for almost a year, and hence, exports of cotton yarn have dropped. China's Xinjiang state is estimated to produce about 10-15% less this year at 27.5 million bales.Spinners' Association Gujarat (SAG) vice-president Jayesh Patel said, "Xinjiang cotton production is estimated to be much lower this year. As per our estimate, China has placed orders for around 250 containers of 20 tonnes each. Most orders are 20-count." And for 32- count cotton yarn. A major part of this will be supplied to Gujarat-based spinning mills." He said cotton prices have come down to Rs 59,000 per candy (356 kg) in Gujarat and Rs 58,000 in Maharashtra. Rupees.According to industry estimates, India's cotton production this year will be around 34 million bales (170 kg each). "As arrivals are slow and farmers' holding capacity is better, arrivals of stocks will continue till the end of the season in September," said Patel. Cotton prices are expected to reach Rs 55,000 per candy level, and yarn prices once 245 per kg from the current level of Rs 255 per kg, we will see more export demand as our prices will be in line with international prices,” said Patel.Rahul Shah, Co-Chairman, GCCI Textile Taskforce.“With the forecast of lower cotton crop, cotton yarn demand from China has increased in the last two weeks. For India, getting significant orders from China is a good sign. Till two years ago, the demand from China was around 40% of our total exports, which has now come down to around 15%.
| title | Created At | Action |
|---|---|---|
| Due to the release of stocked cotton by the farmers, the prices declined. | 23-05-2023 18:20:48 | view |
| Rupee opens flat at 82.83 against US dollar | 23-05-2023 17:54:47 | view |
| Light trading on cotton market in Pakistan | 23-05-2023 17:41:55 | view |
| Rupee weakens by 17 paise against dollars | 22-05-2023 23:40:25 | view |
| Weekly Cotton Review: Rates steady amid low trading volumes | 22-05-2023 17:38:21 | view |
| Rupee weakens by 6 paise against dollar. | 19-05-2023 23:33:13 | view |
| Bangladesh lifts fumigation requirements on US cotton after CCI-sponsored US cotton tour | 19-05-2023 18:14:14 | view |
| Rupee falls 11 paise to open at 82.71 per US dollar | 19-05-2023 17:45:13 | view |
| Spot rate unchanged in cotton market | 19-05-2023 17:32:38 | view |
| Rupee weakens by 22 paise against dollar. | 18-05-2023 23:25:34 | view |
| Cotton prices rise, apparel exports down | 18-05-2023 19:01:03 | view |
| Cotton farmers were asked to opt for bed planting. | 18-05-2023 18:30:15 | view |
| Business activities have improved in the cotton market. | 18-05-2023 17:53:36 | view |
| Rupee weakens by 17 paise against US dollar | 17-05-2023 23:50:17 | view |
| Punjab state government has extended the deadline of 33% subsidy on cotton seeds till May | 17-05-2023 23:20:27 | view |
| China has ordered 5 thousand tonnes of cotton yarn | 17-05-2023 22:59:02 | view |
