50% of Punjab area is brought under cotton cultivation.LAHORE: Cotton cultivation is picking up fast in Punjab and 50 per cent area has been brought under cultivation, said Agriculture Secretary, Punjab Iftikhar Ali Shahu at a meeting held at All Pakistan Textile Mills Association (APTMA), Lahore office. Somewhere The growth of cotton and the improvement of the textile industry.Secretary Energy Naeem Rauf, Patron APTMA Gauhar Ejaz, President APTMA Hamid Zaman, Director General Agriculture (Extension) Dr Anjum Ali and other stakeholders were present in the meeting.Speaking on the occasion, Secretary Agriculture Punjab Iftikhar Ali Sahu said that the Punjab government is committed to the revival of cotton and all resources are being used to achieve the cotton production target. The government has fixed the pre-sowing support price of cotton at Rs 8500 per head, which will make cotton farming profitable.Apart from this, farmers will get a subsidy of Rs 1000 per bag on the seeds of selected approved varieties for 0.6 lakh acres. In addition, subsidies worth billions of rupees are being given on phosphorus and potash fertilizers to reduce the production cost of farmers.
Rupee failing down by 24 paise against dollarThis evening, the rupee closed at a level of Rs 82.03 against the dollar with a weakness of 24 paise.Today the stock market closed with a fall.Today, where the Sensex closed at a level of 61761.33 points, down by about 2.92 points.On the other hand, Nifty closed at 18266.00 points with a gain of 1.60 points.
China's cotton crop seen shrinking in freeze and small areaCotton production in top producer China could decline this year as cold weather delayed sowing and damaged plants in some areas, and some farmers followed government advice and switched to grain.According to Guo Chao, general manager of Hebei Jingyu Textile Materials Co., a major cotton trader and processor, the crop could fall by as much as 1 million tons from last year. If realised, this would represent a drop of more than 15% from production of around 6 million tonnes in 2022.China is the world's largest textile producer and one of the largest cotton importers. Any reduction in production could potentially boost overseas cotton purchases, but a slowing of the global economy could be countered by a weaker outlook for demand as exporters of textile products.Unseasonably cold weather damaged cotton crops in the main growing region of Xinjiang, just as local governments were encouraging farmers to grow the grain as part of a nationwide campaign to bolster food security.Cotton farmers in some regions were told to plant up to 10% of their land to grain, according to Mysteel, a commodities consultancy in China, and the company is predicting a 10% drop in cotton acreage from last year.
Sluggish business in cotton marketLAHORE: The local cotton market remained stable on Monday with low trading volumes.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.600 bales of Shahdadpur were sold at Rs.18,500 per head.The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.
Rupee gets stronger against DollarThe rupee strengthened by 1 paise to close at Rs 81.79 against the dollar this evening.Sensex closed up by 710 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 61764.25 points with a gain of about 709.96 points.On the other hand, the Nifty closed at a level of 18264.40 points with a gain of 195.40 points.
Cotton Profits Tracking ICE Cotton Prices Jump Up In ExportsCotton yesterday closed up 0.35% at 63300, tracking a rise in ICE (NYSE:ICE) Cotton prices jumped after a weekly federal report showed a jump in exports of the natural fiber. The US Department of Agriculture (USDA) report showed net sales of 231,300 running bales (RB) for 2022/2023, up 19% from last week and 65% from the previous 4-week average. The USDA said exports of 24,800 Rb were up 20% from the previous week, mainly to China at 9,600 Rb and Vietnam at 5,200 Rb.India's cotton production is set to rise to 33.72 million bales (170 kg each) in the 2022-23 crop year (July-June), as against 31.12 million bales a year ago, according to agriculture ministry data. However, traders and some agencies are projecting lower production. The US Department of Agriculture (USDA) has forecast that India's cotton exports will decline by 5,00,000 bales to 1.8 million (US bales 227.72 kg or 23.05 lakh Indian bales 170 kg) this month, roughly equal to its import forecast . Industry experts have estimated exports to remain within 2 million bales during 2022-23 (October-September). The International Cotton Advisory Committee (ICAC) lowered its global price outlook for cotton in December 2022 compared to its projections. In its outlook for May, the ICAC projected a season average price forecast range of between 96.1 cents and 111.3 cents, with a midpoint of 102.77 cents. per kg. This is lower than the midpoint of 115 cents projected in December 2022.Technically the market is under short covering as open interest in the market remained unchanged from 0% to close at 316 while the prices are up by Rs 220 now cotton is taking support at 63160 and below it 63020 levels , and resistance is now likely to be seen at 63420, on the upside the price may test 63540.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/en/news-details-english/rupee-sensex-dollar-smartinfo-nifty-exchangemarket
The rupee advanced 8 paise to 81.70 against the dollar.Forex traders said significant foreign fund inflows and crude prices below $75 a barrel also supported the local unit.At the interbank foreign exchange, the domestic unit opened higher at 81.76 against the dollar and then recovered to 81.70, registering a gain of 8 paise from its previous close.Sensex opened higher by 597 pointsToday the stock market opened with a boom.Today, the BSE Sensex opened at a level of 61650.97 points with a gain of about 596.68 points.On the other hand, the NSE's Nifty opened at a level of 18231.30 points with a gain of 162.30 points.
Weekly Cotton Review: Rates steady amid low trading volumeKARACHI: Cotton prices were seen steady in the last week amid low traded volumes. There was a bullish trend after the ups and downs in the international cotton markets. A target of one crore twenty seven lakh seventy thousand bales of cotton has been set for the upcoming season.Exports of textile products continue to decline as industrialists protest against scrapping of electricity and gas concessions.Officials of the Pakistan Cotton Ginners Association have met Federal Energy Minister Khurram Dastgir to discuss the energy problems faced by the ginning industry. Pakistan Cotton Standards Institute and Pakistan Cotton Brokers Association are actively working for the grading of cotton with the support of Pakistan Cotton Ginners Association.Furthermore, the IMF is calling for a hike in interest rates, which would further destabilize the industry, which is already facing a difficult situation as exports continue to decline.On the other hand, recession continues in the international markets. There is a huge financial crisis in the markets. The ginners also have a stock of about 2 to 2.5 lakh bales of cotton. There is a fear of rain and if the rains continue, harvesting will be delayed and the stock cotton will be sold.As per the reports received from the cotton growing areas of Sindh and Punjab, cotton sowing is satisfactory at present.According to estimates, Punjab will produce 83,36,000 bales, Sindh 40,00,000 bales, Balochistan 4,30,000 bales and Khyber Pakhtunkhwa 4,000 bales.The total target area under cotton cultivation has been fixed at 68 lakh thirty four thousand acres, in which cotton cultivation will be done in Punjab, forty nine thousand eighty six thousand acres in Punjab, sixteen lakh forty nine thousand acres in Sindh province, cotton cultivation in Sindh. One lakh eighty one thousand acres in Balochistan and five thousand acres in Khyber Pakhtunkhwa.The rate of cotton in Sindh ranged from Rs 17,500 to Rs 20,500 per head. Available in limited quantity, the rate of footi was Rs 6500 to 8000 per 40 kg. The rate of cotton in Punjab ranged between Rs 18,500 to Rs 21,000 per head. The rate of foot was between 6500 to 8800 rupees per 40 kg. rate of khal, banola and oil; Stay still though.The spot rate committee of the Karachi Cotton Association kept the spot rate unchanged at Rs 20,000 per head.Karachi Cotton Brokers Forum President Naseem Usman has said that the rate of futures trading in New York cotton market has seen volatility in the international cotton markets.In the first three days of the week, the prices fell heavily due to the increase in interest rates by 25 basis points by the FED. However, after the arrival of USDA's weekly exports and sales on Thursday which is positive, the futures trading rate rose by 5 US cents to trade at 84 US cents.According to the weekly USDA export and sales report, two lakh thirty one thousand bales were sold for the year 2022-23.China topped the list by purchasing one lakh seventeen thousand one hundred (including 400 bales exchanged with Pakistan).Vietnam was second with 43,500 bales (including a swap of 200 bales from Taiwan). Turkey bought 34,800 bales and stood at the third position.Twenty six thousand nine hundred bales were sold for the year 2023-24.Turkey bought 12,800 bales while Honduras bought 8,300.Meanwhile, Javed Balwani, President of All Pakistan Hosiery Manufacturers Association, President of Pakistan Apparel Forum, has said that there has been a decrease of three billion seven million dollars in exports in the first ten months of the financial year 2022-23.Apart from this, for the cotton year 2023-24, a target has been set to produce one crore twenty seven lakh twenty seven lakh cotton.This was shared by Cotton Commissioner Dr. Zahid Mahmood in a telephonic conversation with Dr. Sajid Mahmood, in-charge of Central Cotton Research Institute.In the meeting, Chairman Chaudhary Waheed Arshad discussed the problems of the cotton ginning industry, especially the charges fixed in the electricity bills imposed by Nepra and said that this draconian tax should be removed immediately so that the ginning industry, which was suffering badly earlier, could get back on its feet. Will stand on and play an important role in the development of the country.On this occasion, the Speaker also presented the budget proposal on behalf of the PCGA to the Federal Minister. On this, Federal Energy Minister Khurram Dastgir said that the government has imposed these taxes and duties due to pressure from the IMF.The importance of cotton and the cotton ginning industry cannot be overstated. Furthermore, the minister promised that he would include their proposal in this budget and eliminate the fixed duty imposed on the ginning industry.Pakistan Cotton Standards Institute and Pakistan Cotton Brokers Association are actively working for the grading of cotton with the support of Pakistan Cotton Ginners Association.
LAHORE: The cotton sowing target for South Punjab has been set at 4.554 million acres, which is 91 per cent of the target set for the entire province.So far, cotton has been cultivated in an area of more than 0.533 million acres in Multan division. While 0.971 lakh acres of land will be brought under cotton cultivation in DG Khan division. This information was given in a meeting chaired by Secretary Agriculture Punjab Iftikhar Ali Sahu to review the cotton sowing plan.Commissioner Multan Division Aamir Khattak, Deputy Commissioner Multan Umar Jahangir, Deputy Commissioner Khanewal, Deputy Commissioner Vehari, Deputy Commissioner Lodhran, Secretary Agriculture South Punjab Saqib Ali Atil, Additional Secretary Agriculture (Task Force) South Punjab Imtiyaz Ahmed Waraich, Director General Agriculture (Extension) Dr. Anjum Ali , Director General Agriculture (Pest Alert), Rana Fakir Ahmad, Deputy Director Agriculture Information, Multan Division Director and Deputy Director Agriculture and other stakeholders participated.Agriculture Secretary said that to achieve the cotton cultivation area and production target, all the institutions will have to fulfill their responsibility in the national spirit.He said that during the cotton season the field staff of Agriculture Department of South Punjab would provide all possible facilities to the farmers to achieve the target of cotton cultivation.On this occasion, the Secretary instructed to ensure the availability of quality agricultural inputs in the market during the cotton season and prepare a record of information related to dealers of fertilizers, seeds and agricultural drugs in each district of the cotton zone.Secretary Agriculture South Punjab Saqib Ali Atil proposed to increase the number of Facilitation Centers set up for cotton at the district level, to which Secretary Agriculture Punjab agreed and issued orders to the concerned structures. The staff of the Agriculture Department has also been entrusted with the responsibility of monitoring.LAHORE: The cotton sowing target for South Punjab has been set at 4.554 million acres, which is 91 per cent of the target set for the entire province.So far, cotton has been cultivated in an area of more than 0.533 million acres in Multan division. While 0.971 lakh acres of land will be brought under cotton cultivation in DG Khan division. This information was given in a meeting chaired by Secretary Agriculture Punjab Iftikhar Ali Sahu to review the cotton sowing plan.Commissioner Multan Division Aamir Khattak, Deputy Commissioner Multan Umar Jahangir, Deputy Commissioner Khanewal, Deputy Commissioner Vehari, Deputy Commissioner Lodhran, Secretary Agriculture South Punjab Saqib Ali Atil, Additional Secretary Agriculture (Task Force) South Punjab Imtiyaz Ahmed Waraich, Director General Agriculture (Extension) Dr. Anjum Ali , Director General Agriculture (Pest Alert), Rana Fakir Ahmad, Deputy Director Agriculture Information, Multan Division Director and Deputy Director Agriculture and other stakeholders participated.Agriculture Secretary said that to achieve the cotton cultivation area and production target, all the institutions will have to fulfill their responsibility in the national spirit.He said that during the cotton season the field staff of Agriculture Department of South Punjab would provide all possible facilities to the farmers to achieve the target of cotton cultivation.On this occasion, the Secretary instructed to ensure the availability of quality agricultural inputs in the market during the cotton season and prepare a record of information related to dealers of fertilizers, seeds and agricultural drugs in each district of the cotton zone.Secretary Agriculture South Punjab Saqib Ali Atil proposed to increase the number of Facilitation Centers set up for cotton at the district level, to which Secretary Agriculture Punjab agreed and issued orders to the concerned structures. The staff of the Agriculture Department has also been entrusted with the responsibility of monitoring.
Rupee steady against dollarThe rupee ended the evening without any movement at Rs.81.80 against the dollar.Sensex closed after breaking 695 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 61054.29 points with a fall of 694.96 points.On the other hand, the Nifty closed at the level of 18069.00 points with a fall of 186.80 points.
PSF and Cotton: Similar start, but fork in late AprilCotton and PSF prices moved up sharply on hopes of revival in demand after the holidays. Post the holiday, downstream orders were not as good as expected and both cotton and PSF prices declined. In March, the commodity market was affected by the banking system issue and cotton and PSF prices declined.In late March, PSF prices first climbed, and the market recovered fundamentally after the banking problem was temporarily resolved. Feedstock supplies were tight with PX and PTA units grounded, and PSF prices rose sharply after a higher feedstock market, but from mid- to late-April, polyester products suffered major losses and more plants cut production. Cut, hence the demand for PTA was expected to increase and at the same time, oil prices started to decline, hence the downward movement in PSF prices. During the May Day holiday, with fears of further banking problems and recession, oil prices fell and PSF prices fell.But for cotton, since April, the market was subject to speculation about new cotton planting areas, seed cotton harvest rush in the second half, weather conditions in Xinjiang and target price for Xinjiang cotton. Meanwhile, under the impact factor of weather, cotton prices continued to rise in early May.Both Cotton and PSF have been launched in the futures market with the same financial facility and impact from the macro environment.Besides, there are more uncontrollable factors in the cotton market than PSF. Cotton is an agricultural crop, and the natural environment and policies have a greater impact on the market; PSF is an industrial product, especially with high potential, so fundamental information has a more direct impact on the market.Since the beginning of this year, cotton yarn sales have been relatively good overall, and product inventories currently remain below 15 days. However, polyester yarn inventories are accumulating, and at the end of April the inventory has reached above one month high. Lower cotton yarn inventory gives some support to the cotton market, but higher polyester yarn inventory drags the PSF market.In 2023, the cotton and PSF markets have a similar start but move differently in late April. With the persistently high price spread, let's see if there is a qualitative change.
Pakistan: Spot rate stable amid light tradingThe local cotton market remained stable on Thursday with low trading volumes. Cotton analyst Naseem Usman told the Business Recorder that the price of cotton in Sindh is between Rs 17,000 and 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.800 bales of Deharki were sold at Rs.21,000 per maund (condition) and 600 bales of Rahim Yar Khan were sold at Rs.21,000 per maund (condition).The spot price remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.
Rupee strengthened by 1 paise against dollarThe rupee strengthened by 1 paise to close at Rs 81.80 against the dollar this evening.Sensex closed up by 556 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 61749.25 points, down by about 555.95 points.On the other hand, the Nifty closed at the level of 18255.80 points with a gain of 166.00 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Cotton-punjab-disrupted-failed-crop-sowing-season
Cotton sowing disrupted in Punjab due to two failed crop seasonsTwo unsuccessful seasons in 2021 and 2022 have put cotton growers in jeopardy. Bad weather has also played its part, with cotton being sown on only 8% or about 20,000 hectares in South Malwa.As Punjab Agricultural University (PAU) advises, cotton sowing should be completed between April 15 and May 15 and with only 12 days left, farmers are racing against time to complete the sowing operations of the major kharif crop. Are.Agriculture experts and farmers said that after two consecutive crop failures, cotton growers are in a dilemma whether to invest in traditional cash crop cultivation or look for an alternative.Cotton-growing districts have recorded sowing in 20,000 hectares (50,000 acres) against a target of 3 lakh hectares for the 2023-24 kharif cycle, data collated by the state agriculture department on Wednesday said. Cotton was cultivated in about 2.47 lakh hectares in 2022-23.Considered to be the economic lifeline of the semi-arid districts of South Malwa region, the Punjab government also introduced a subsidy of 33 per cent on PAU approved seeds for the first time. Experts said that the main reason for crop failure in 2021 and 2022 season is due to use of rejected seeds by farmers and pest infestation.Dilbag Singh, Bathinda's chief agriculture officer, said the move was aimed at farmers buying only approved varieties.Statistics show that sowing has not picked up pace. Officials have cited poor weather conditions and delay in harvesting of wheat this year as the main reasons for delay in sowing of cotton crop.Fazilka has achieved maximum acreage with 8,000 hectares against this year's target of one lakh hectares.Chief Agriculture Officer (CAO) Jangir Singh expressed hope that sowing would pick up pace next week.“After the delay in harvesting wheat, farmers were busy clearing the fields for the next crop. With widespread rains in the region and forecast of rain for next 3-4 days, cotton growers are waiting for the weather to clear up to start sowing.In Bathinda, farmers have sown cotton on only 4,000 hectares, against the target of 80,000 hectares this year. In the last Kharif season, cotton was cultivated in about 70,000 hectares in the district.Sharanjit Singh, a resident of Maan Kheda village in Mansa, said farmers are in distress after two crops failed due to pest attacks in 2021 and 2022.“For the last several years, I was sowing cotton in 18 acres. But after suffering huge losses in the last two years, this time cotton has been sown in only 10 acres. I am planning to sow cereals like bajra or jowar on the rest of the land.Muktsar CAO Gurpreet Singh said the department expects the area under cotton to increase from 33,000 hectares to 50,000 hectares.“Farmers also suffered due to less availability of canal water in the last season. But this year, irrigation support is excellent and farmers will be encouraged to grow cotton again. Slow progress in sowing is due to unseasonal rains, but it will pick up soon.Low response to seed subsidyThe department's data shows that so far only 12,000 farmers have registered themselves to claim the 33% subsidy on seeds. The maximum 5,700 farmers are from Fazilka, followed by Bathinda (2,500), Mansa (2,400) and Muktsar (1,500). For the 2023 Kharif season, the central government has fixed the maximum retail price of Bt 2 cotton seeds at ₹853 per packet.Mansa's CAO Satpal Singh said that as per the state government's policy, each applicant can claim a subsidy of two packets per acre with an upper limit of 10 packets for 5 acres."A farmer will have to register on a web portal with the original bill and bank account details by May 15. Financial assistance will be credited to his account after physical verification of the fields," he added.Fazilka's Chief Agriculture Officer (CAO) Jangid Singh said, "Farmers are waiting for clear weather and this is also the reason for the slow registration to claim subsidy on seeds."GS Romana, PAU's principal agriculture economist, said farmers lack confidence after two bad seasons, but there is no option for them in this semi-arid region.
Rupee strengthened by 6 paise against dollarThe rupee strengthened by 6 paise to close at Rs 81.82 against the dollar this evening.Sensex closed down by 161 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 61193.30 points with a fall of 161.41 points.On the other hand, Nifty closed at 18089.80 points with a fall of 57.90 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Likely-icac-cotton-increasing-india-arrivals-prices-ice
Cotton arrivals increasing in India, prices likely to fall: ICACThe International Cotton Advisory Committee (ICAC) on Tuesday lowered its global price outlook for cotton in December 2022 compared to its projections.A month ago, ICAC data scientist Matthew Looney said Indian cotton supplies were well behind historical levels for that time of the season and suspected farmers were holding their cotton in the hope of better prices.Its effect was reflected in the prices of cotton in the domestic and international markets. The benchmark processed cotton of 29 mm length was trading at ₹68,500 per candy (of 356 kg) on December 2, 2022. However, as the arrivals started picking up, the prices started correcting and was last seen at ₹61,800 on Tuesday.ICE Cotton futures on December 2, 2022 quoted at 83.2 cents, while it is currently bidding at 81.34 cents.In its comments on whether Indian farmers have started offloading stocks, ICAC said, "Whether they have seen the recent slight stabilization in prices and decided to take advantage, or whether they want to sell cotton more The pace of cotton arrivals in India has picked up in the last month.Meanwhile, raw cotton continued to arrive in Gujarat markets. At the Rajkot APMC market in Saurashtra, arrivals were recorded at 110 tonnes, with prices ranging between ₹7,500-₹8,300 per quintal.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Volume-market-steady-cotton-amid-usman-naseem
| title | Created At | Action |
|---|---|---|
| 50% of Punjab area is brought under cotton cultivation. | 10-05-2023 17:47:04 | view |
| Rupee failing down by 24 paise against dollar | 09-05-2023 23:13:28 | view |
| China's cotton crop seen shrinking in freeze and small area | 09-05-2023 21:11:50 | view |
| Sluggish business in cotton markets | 09-05-2023 18:38:39 | view |
| Rupee gets stronger against Dollar | 08-05-2023 23:16:47 | view |
| Cotton Profits Tracking ICE Cotton Prices Jump Up In Exports | 08-05-2023 19:20:26 | view |
| The rupee advanced 8 paise to 81.70 against the dollar. | 08-05-2023 18:37:03 | view |
| Weekly Cotton Review: Rates steady amid low trading volume | 08-05-2023 18:20:42 | view |
| LAHORE: The cotton sowing target for South Punjab has been set at 4.554 million acres, which is 91 per cent of the target set for the entire province. | 06-05-2023 18:14:43 | view |
| Rupee steady against dollar | 05-05-2023 23:39:45 | view |
| PSF and Cotton: Similar start, but fork in late April | 05-05-2023 21:20:17 | view |
| Pakistan: Spot rate stable amid light trading | 05-05-2023 20:25:53 | view |
| Rupee strengthened by 1 paise against dollars. | 05-05-2023 00:08:07 | view |
| Cotton sowing disrupted in Punjab due to two failed crop seasons | 04-05-2023 21:56:44 | view |
| Rupee strengthened by 6 paise against dollars. | 03-05-2023 23:16:38 | view |
| Cotton arrivals increasing in India, prices likely to fall: ICAC | 03-05-2023 19:11:52 | view |
