Cotton prices may rise to Rs 75,000 per candy by mid-2023: CAI PresidentAtul Ganatra, President, Cotton Association of India, said that considering the low cotton production and high Indian cotton consumption, very soon India's status from a net cotton exporting country will change to a net cotton importing country. “Currently, Indian cotton prices are at Rs 62,500-63,000 per candy. It looks like the prices will remain stable for now but after May the cotton arrivals will start reducing and cotton prices will gradually move upwards. We believe cotton prices in India may touch Rs 70,000-75,000 per candy in June-July.Globally, cotton prices are trading at a four-month low. However, due to higher cotton consumption, Indian mills are seeing good demand for cotton. The rise in cotton prices can be attributed to weak demand globally, due to which cotton exports have come down this year. Last year the export was 42 lakh bales, but this year it is expected to be around 25 lakh bales. “Last year, our cotton exports were 42 lakh bales, but this year, we expect cotton exports to be around 30 lakh bales. But considering the high Indian cotton rate, we can reduce the estimated export of cotton from 3 million bales to 2.5 million bales.Despite weak demand, India has been able to export 1.2 million bales of cotton till March. In the case of spinning mills, he believes that this is a good time for spinning mills. "The mills are making less profit and running at 100 per cent capacity," he said. Indian mills have been making profits for the last two months. He sees a good future for Indian spinning mills as China, Bangladesh are slowing down and demand from these two countries is shifting to India.👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Karachi-cotton-association-increased-spot-rate-pakistan-punjab-hiked-naseem-usman
Pakistan cotton spot price hiked by Rs 200 per head The spot rate committee of the Karachi Cotton Association (KCA) on Thursday hiked the spot rate by Rs 200 per head and closed it at Rs 19,700 per head. The local cotton market was booming and the volume of business was satisfactory. Cotton analyst Naseem Usman told that the price 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.The spot rate committee of the Karachi Cotton Association (KCA) increased the spot rate by Rs 200 per head and closed it at Rs 19,700 per head. Polyester fiber was available at Rs 373 per kg.👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Pakistan%27s-cotton-maund-spot-price-naseemusman-kca-market
Pakistan's cotton spot price up by Rs 200 per maundThe spot rate committee of the Karachi Cotton Association on Wednesday hiked the spot rate by Rs 200 per head and closed it at Rs 19,500 per head. The local cotton market was booming and the volume of business was satisfactory.Cotton analyst Naseem Usman told that the price of cotton in Sindh is 17 thousand to 20 thousand rupees per head. The rate of cotton in Punjab is Rs 18,000 to Rs 20,000 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. Khan Pur sold 1,200 bales for Rs 20,200-20,500 per head, Rahim Yar Khan 2,000 bales, Muridwala 1,000 bales, Sadiqabad 800 bales and Chani Goth 400 bales sold for Rs 20,000 per head.The spot rate committee of the Karachi Cotton Association increased the spot rate by Rs 200 per head and closed it at Rs 19,500 per head. Polyester fiber was available at Rs 373 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Strengthened-dollor-rupee-market-against-closing-nifty-sensex
Rupee strengthened by 5 paise against dollarThe rupee strengthened by 5 paise to close at Rs 82.08 against the dollar this evening.Sensex up 235 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 60392.77 points with a gain of about 235.05 points.On the other hand, the Nifty closed at a level of 17812.40 points with a gain of 90.10 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Demand-improvement-india-yarn-cotton-market-south-north-central
Improvement in demand for cotton yarn in IndiaCotton yarn prices in India have increased by ₹4-6 per kg due to increased buying and the recent rise in natural fiber prices. Traders said that powerloom owners have increased their purchases, due to which the price has increased. Powerloom production is expected to pick up in the last week of this month.south marketCotton yarn prices at Tiruppur remained at the previous level but there has been improvement in demand as compared to last week. The Tiruppur market experienced increased demand from the downstream industry, though cotton yarn traded at previous prices. Trade sources noted that buyers were keen to buy more yarn for stocking up and future consumption. The consuming industries bought raw material only to meet their immediate requirement, as they did not anticipate price rise. However, the end of cotton arrival season has prompted industry units to maintain their stocks.In the Tiruppur market, 30 count combed cotton yarn was trading at ₹280-285 per kg (GST extra), 34 count combed at ₹292-297 per kg and 40 count combed cotton yarn at ₹308-312 per kg. Cotton yarn of 30 count carded was sold at Rs.255-260 per kg, 34 count carded at Rs.265-270 per kg and 40 count carded at Rs.270-275 per kg.central marketIn Gujarat, cotton prices remained bearish after gains in the previous trading sessions. Prices were ruling at ₹62,800-63,300 per candy of 356 kg, lower by ₹200 per candy than yesterday. Trade sources indicated that there has been good arrival of cotton along with regular buying from spinning mills. Recent reports of poor monsoon forecast have not impacted the cotton trade significantly as the market is yet to account for the major factors affecting cotton acreage and production. Cotton arrivals in Gujarat were recorded at 42,000 bales of 170 kg each, while all-India arrivals were estimated to be around 1.40 lakh bales.In Mumbai, 60 count cotton yarn of warp and weft varieties traded at Rs 1,550-1,580 and Rs 1,435-1,460 per 5 kg (GST extra), respectively. 80 carded (weft) cotton yarn was sold at 1,460-1,500 per 4.5 kg; 44/46 count carded cotton yarn was priced at ₹280-285 per kg; 40/41 count carded cotton yarn (warp) was trading at Rs 272-276 per kg and 40/41 count combed yarn was trading at Rs 294-307 per kg. Compared to yesterday, the yarn market of Madhya Pradesh remained stable today.north marketThe cotton polyester yarn market of Punjab and Haryana remained stable. The price of 10 count cotton polyester yarn was Rs.91 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Slowdoen-market-cotton-pakistan-punjab-naseem-usman
Slowdown in Pakistan's cotton marketThe local cotton market remained stable on Tuesday with low trading volumes. Cotton analyst Naseem Usman told that the price of cotton in Sindh is 17 thousand to 20 thousand rupees per head. The rate of cotton in Punjab is Rs 18,000 to Rs 20,000 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. The spot price remained unchanged at Rs 19,300 per piece. Polyester fiber was available at Rs 373 per kg👇🏻👇🏻👇🏻👇🏻https://www.smartinfoindia.com/hi/news-details-hindi/India-set-anti-dumping-duty-linen-yarn-china-agriculture-exports
Rupee opens 8 paise stronger against dollarToday, the rupee opened at a level of 82.04 against the dollar with a strength of 8 paise. On the other hand, on Tuesday, the rupee closed at a level of Rs 82.12 against the dollar with a weakness of 14 paise.
India to set anti-dumping duty on linen yarn from China The DGTR of India's Ministry of Commerce has initiated an investigation to review the need for continuation of anti-dumping duty on flax, known as linen yarn, imported from China. In fact, the current charges are due to expire on October 17, 2023. It is important to note that the lea count, which is a unit to measure the length of a yarn, is below 70 for flax yarn imported from China.The investigation will determine whether anti-dumping duty should be imposed on flax yarn on imports from China and ensure fair trade practices between the two countries. The probe comes following complaints from the domestic industry and an application by Grasim Industries Ltd and Syntex Industries to initiate a sunset review of the anti-dumping duty.Linen yarn is used to make linen fabric, which is used in apparel and home textiles. The purpose of the duty is to ensure fair trade practices and create a level-playing field for domestic producers in relation to foreign producers and exporters.As per the DGTR notification, there is prima facie evidence of dumping of the product from China despite the existing anti-dumping duties. Consequently, the DGTR will review the need for continuation of duties and examine whether cessation of existing duties is likely to lead to continuation or recurrence of dumping and impact on the domestic industry.
Cotton will be cultivated on 4 million acres in Punjab, MSP fixed at 8,500/40 KG, subsidy of one thousand rupeesCotton cultivation is going to be huge this marketing year as 4 million acres of land is being used for cotton cultivation in Punjab. 8,500 / 40KG support price and a subsidy of Rs.1,000. A spokesperson says for best results use fertile land and approved Bt varieties.On Monday, an agriculture spokesman said that about 40 lakh acres of land is being used for cotton cultivation in Punjab. He also directed the farmers to sow approved and registered varieties to get better production results.Those who sow these varieties will get subsidyHe also said that the government has announced Rs. The support price of cotton is 8500/40 kg. He added to his statement that subsidies worth billions are already available to encourage cotton production. Initially the subsidy was given to the farmers sowing the following varieties of cotton – Nibge-11, BS-15, CKC-1, CIM-663, FH-490, CKC-3, MNH-1020, IUB-2013, Niab -1048, Niab-878, Niab-545 and Niab-Kiran.Benefits will be available on first come first serve basisRupee. 1,000 per bag subsidy is available for a maximum area of five acres and can be availed on first come first serve basis. Farmers have to extract the voucher from the seed bag and text its secret number along with their CNIC numbers to 8070. In his statement, the spokesman said that farmers should use fertile land and Bt varieties approved by the local agriculture authorities based on the availability of water and nature of the soil.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Kamjor-mukable-dollor-rupya-bajar-closing-nifty
Rupee weakens by 14 paise against dollarThis evening, the rupee closed at a level of 82.13 against the dollar with a weakness of 14 paise.Today the stock market closed with a boom.Today, where the Sensex closed at a level of 60157.72 points with a gain of about 311.21 points.On the other hand, the Nifty closed at a level of 17722.30 points with a gain of 98.30 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Effect-mixed-exports-gujrat-recession-global-amid-despite-growing-gcci
Mixed effect in Gujarat's exports amid global recessionDespite the growing recessionary trend, India managed to see a boom in exports. Major industries in Gujarat experienced mixed fortunes as textiles and chemicals experienced a downturn while the pharmaceutical and engineering sectors saw growth. A look at the important points related to exports-• Gujarat Chamber of Commerce and Industry (GCCI) President Pathik Patwari said, “India's total exports are expected to reach $760 billion (about Rs 62.2 lakh crore) for the financial year 2022-23.• IT, ITES, Artificial Intelligence, Machine Learning etc. are emerging as important export contributors.• Exports from traditional sectors such as textiles and chemicals have declined sharply due to global factors. The government needs to encourage production to make it more competitive in global markets.• In the first quarter of 2022-23, Indian cotton prices touched an all-time high of Rs 1.1 lakh per candy, impacting the entire value chain.• According to the Confederation of Indian Textile Industry (CITI), India's textile exports are set to decline by 23.57% between April 2022 and February 2023.• Indian cotton prices have come down to around Rs 60,000 per candy level, yet Indian cotton is expensive for international markets. Gujarat's garment manufacturers cannot compete with their counterparts in China, Vietnam and Bangladesh.versionOur exports have declined in the financial year due to high cotton prices and low demand. Demand from Europe and the US remains markedly lower. We may register growth in FY 2023-24,”Rahul Shah, Co-Chair, GCCI Textile Taskforce“The textile industry has invested heavily in export oriented plants, but it needs government incentives. The quality of Indian textiles is improving and there are huge opportunities. However, the government should ensure timely incentives for the industry.P R Kankaria, Chairman, Kankaria Textile Industries Pvt Ltd👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Ngo-buy-400-tonnes-organic-cotton-Andhra-farmers-international-produce-hectares-export
NGO to buy 400 tonnes of organic cotton from Andhra farmersOrganic cotton accounts for only 1-2 per cent of the 12.5 million hectares under natural fiber in India. An NGO working with tribal farmers in north-coastal Andhra Pradesh has brought together around 3,000 tribal farmers to procure 400 tonnes of organic cotton in the 2022-23 kharif season.“We have taken it to international brands in the US, Germany and the UK,” said Anil Kumar Ambavaram, chief executive officer of the NGO. Farmers have earned at least ₹500-600 more on fiber per quintal (market price Rs.7,200-7,500)". Starting small with 42 farmers in three villages, the Raddi (radical disruption) initiative has spread to 140 villages At least half of them sold the produce to other buyers. They just don't grow. They grow many types of crops. The NGO has branded their produce as Radis Cotton, which is finding international buyers. Encouraged by the good results, the NGO plans to expand the program to more villages. “We plan to explore export opportunities in Australia, France and Denmark”, he added.Reddy, who grows cotton on 25 acres in Karavanga village in Nagarkurnool district, says, “I am saving Rs.80 for every Rs.100 spent by other farmers by following natural farming methods. Besides, I am getting ₹1,000-1,500 more for every quintal of organic cotton I sell”. Inspired by Subhash Palekar's zero budget farming, Reddy grows several other crops such as chillies, paddy and pulses using natural farming techniques. They have recently signed a 10 ton deal for their organic cotton with a specialty textile company based in Hyderabad. “I have produced 20 tonnes of cotton this year. I sold the remaining half in the open market.GV Ramanjaneyulu, chief executive officer of the Center for Sustainable Agriculture, said organic cotton cultivation, which showed promise a few years ago, has not taken off well for a number of reasons. Apart from declining interest among farmers, the issue of contamination (natural crops affected by transgenic crops) poses a serious challenge Availability of seeds, varieties by Central Institute of Cotton Research (CICR) and All India Coordinated Research Project (AICRP) 2017-21 At least 64 non-GM (non-Bt) cotton varieties and hybrids were released during 2015 that can be adopted by organic cotton growers. Farmers are also given a package of breeder seeds and practices for organic cotton production.global rankingDespite the constraints, India accounts for half of the global production of 2.5 million tonnes of organic cotton. Madhya Pradesh tops among states with 38 per cent of the country's 8.11 lakh tonnes of organic cotton produced in 2020-21. Orissa is at 20 per cent.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Rainfall-average-imd-dgm-mmohapatra-expected-country-el-nino-farmers
Rainfall expected to be 96% (+-5%) of the country's average: M Mohapatra, IMD DGMIMD DGM M Mohapatra said there is a 67% chance of normal to above normal rainfall during June-September. He said that some areas of northwest India, some parts of west-central India, some areas of northeast India are likely to receive less than normal rainfall.El Nino effect during the second halfM Mohapatra says that at present the El Nino conditions have become neutral over the Pacific region El Nino conditions are likely to develop during the monsoon season. IMD DGM M Mohapatra said that the El Nino effect could be felt during the second half of the monsoon. Not all El Niño years are bad monsoon years. About 40% of El Niño years in the past were years with normal or above-normal monsoon rainfall, he said.Farmers should believeEl Nino may affect the second half of the monsoon in July. He said that Indian Ocean Dipole conditions are favorable for Indian summer monsoon rainfall. Farmers should believe IMD's official forecast on rains: IMD DGM M Mohapatra said that normal rains are expected in Karnataka, Jammu and Kashmir. He said that by the end of May, the IMD will issue an updated forecast on monsoon.
Rupee weakens by 9 paise against dollarThis evening, the rupee closed at a level of 81.98 against the dollar with a weakness of 9 paise.Today the stock market closed with a boom.Today, where the Sensex closed at a level of 59846.51 points with a gain of about 13.54 points.On the other hand, the Nifty closed at the level of 17624.00 points with a gain of 24.80 points.
India likely to receive below normal rainfall in 2023 due to El NinoPrivate weather forecasting agency Skymet on Monday said that India is likely to get "below normal" monsoon rains in 2023 with an increasing likelihood of El Nino, which usually brings dry weather in Asia. Jatin Singh, Managing Director, Skymet, said in a statement: "The probability of El Nino is increasing and it is becoming a dominant feature during the monsoon. The return of El Nino can predict a weak monsoon." Retaining its earlier outlook of sub-monsoon, Skymet said monsoon rainfall over India is expected to be 94% of the long period average.About half of India's agricultural land, which has no irrigation cover, depends on annual June–September rains to grow crops such as rice, maize, sugarcane, cotton and soybeans. Skymet expects the northern and central parts of the country to be at risk of rain deficiency. New Delhi defines average, or normal, rainfall as between 96% and 104% of the 50-year average of 88 centimeters (35 in) for the four-month season starting in June. The state-run India Meteorological Department is expected to announce its annual monsoon forecast soon.The weather forecaster said Punjab, Haryana, Rajasthan and Uttar Pradesh, known as the agricultural bowl of northern India, are likely to receive below normal rainfall during the second half of the season. Meanwhile, unseasonal rains and hailstorms have damaged ripening, winter-sown crops like wheat in India's fertile northern, central and western plains, hurting thousands of farmers and raising the risk of further food price inflation Is.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Bangladesh-Textile-Mills-Association-ban-import-cotton-yarn-demands-temporary
Bangladesh Textile Mills Association demands temporary ban on import of cotton yarnThe Bangladesh Textile Mills Association (BTMA) has urged a temporary halt to imports of cotton yarn used in the country's readymade garment industry to retain foreign exchange and boost apparel value addition amid a dollar crunch.In a letter to the Bangladesh Bank governor on 3 April, BTMA president Mohammad Ali Khokon outlined the proposal, which he argues will reduce their competitiveness in global markets. BTMA claims that around 510 local spinning mills, with a production capacity of 3600 million kg of cotton yarn, can meet 70% of the demand of the export-oriented apparel industry. He also mentioned that "if locally produced cotton yarn is sourced or used, the value addition would be up to 60% as against 30% value addition for imported ones."Bangladesh 100% EnabledKhokon urged the central bank governor to take measures to prevent back-to-back letters of credit (LC) for cotton yarn imports, adding that Bangladesh is 100% capable of producing cotton yarn. According to BTMA, Bangladesh is expected to import 0.543 million tonnes of cotton yarn in 2022, up from 0.297 million tonnes in 2019. which sources most of its yarn and fabric domestically, has expressed reservations about any restrictions on imports.BKMEA protestedBangladesh Knitwear Manufacturers and Exporters Association (BKMEA), working president Mohd Hatem opposed the BTMA's plea saying there should be no ban as local spinners cannot meet the entire demand of the export sector for yarn and fabric. As a result, he said, apparel exporters have to import yarn and fabric, while buyers sometimes nominate essential raw materials from abroad, especially China. "We usually import spun or combed cotton yarn from local spinning mills, even though the difference in prices is 30 to 50 cents per kilogram," said Mohammad Hatem.need to maintain competitionIf the gap is bridged, exporters source locally to meet immediate shipment deadlines, it takes a week to get raw material from local sources while imports take 30-45 days, he said. It seems "We import the rest which is normal and cannot be restricted in a free market economy and to maintain competition," he said.here comes the differenceThe government in January this year allowed the country's apparel exporters to import yarn from India in partial shipments through Benapole, Bhomra, Sonamsjid and Banglabandha land ports amid protests from BTMA. RMG exporters could earlier import yarn through Benapole land port under bonded warehouse facility but they were not allowed to make part shipments.Understand like this-In the last financial year, Bangladesh received US$ 42.61 billion from RMG exports, of which US$ 23.21 billion and US$ 19.39 billion came from knitwear and woven goods, respectively. According to BTMA, textile mills meet 80% and 35%-40% of the knitwear and woven sectors' yarn and fabric demand. Data from the central bank showed that value addition in the sector declined to 54.38% in the last fiscal from 64.32% in fiscal 2019, mainly due to higher imports of raw materials.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Due-cotton-market-demand-farmers-international-market-increased-market-prices
| title | Created At | Action |
|---|---|---|
| Cotton prices may rise to Rs 75,000 per candy by mid-2023: CAI President | 14-04-2023 19:47:08 | view |
| Pakistan cotton spot price hiked by Rs 200 per head | 14-04-2023 18:53:56 | view |
| Pakistan's cotton spot price up by Rs 200 per maund | 13-04-2023 19:05:27 | view |
| Rupee strengthened by 5 paise against dollars | 12-04-2023 23:32:48 | view |
| Improvement in demand for cotton yarn in India | 12-04-2023 22:03:08 | view |
| Slowdown in Pakistan's cotton market | 12-04-2023 18:47:58 | view |
| Rupee open 8 paise stronger against dollar | 12-04-2023 16:48:03 | view |
| India to set anti-dumping duty on linen yarn from China | 12-04-2023 01:34:16 | view |
| Cotton will be cultivated on 4 million acres in Punjab, MSP fixed at 8,500/40 KG, subsidy of one thousand rupees | 11-04-2023 23:55:21 | view |
| Rupee weakens by 14 paise against dollars | 11-04-2023 23:26:05 | view |
| Mixed effect in Gujarat's exports amid global recession | 11-04-2023 23:11:30 | view |
| NGO to buy 400 tonnes of organic cotton from Andhra farmers | 11-04-2023 22:52:56 | view |
| Rainfall expected to be 96% (+-5%) of the country's average: M Mohapatra, IMD DGM | 11-04-2023 21:54:07 | view |
| Rupee weakens by 9 paise against dollars | 11-04-2023 00:31:14 | view |
| India likely to receive below normal rainfall in 2023 due to El Nino | 10-04-2023 23:45:39 | view |
| Bangladesh Textile Mills Association demands temporary ban on import of cotton yarn | 10-04-2023 23:32:43 | view |
