Rupee falls against dollar, breaks 6 paiseToday, the rupee opened at a level of Rs 82.25 against the dollar with a weakness of 6 paise. On the other hand, on Tuesday, the rupee strengthened by 18 paise to close at Rs 82.19 against the dollar.Sensex gains a bit more, opens up 201 pointsToday, the BSE Sensex opened at a level of 57815.07 points with a gain of about 201.35 points. On the other hand, NSE's Nifty opened at a level of 17016.20 points with a gain of 64.50 points.
Rupee strengthened by 18 paise against dollarThe rupee strengthened by 18 paise to close at Rs 82.19 against the dollar this evening.Today the stock market closed with a fall.Today, where the Sensex closed at a level of 57613.72 points with a fall of 40.14 points.On the other hand, Nifty closed at the level of 16951.70 points with a fall of 34.00 points.
Cotton growers' hopes still unfulfilled The cotton market is under more pressure than ever this year. Most of the farmers have stopped selling cotton anticipating a rise in prices. There is not much arrival of cotton in any market this season. On the other hand, due to non-increasing rate, farmers are also worried about selling cotton. Although the ginning industry is currently happy because of the low rates.At present, cotton is being bought for Rs.7.5 thousand to Rs.8300 only.Experts say there are indications that the impact will be felt in cotton cultivation in the next season, which has seen a revival in cotton cultivation in the last two-three years due to good prices. Cotton cultivation was increasing at the expense of soybeans and other crops. Due to the prices reaching 10 thousand in the market, an atmosphere of satisfaction was created among the producers. However, this rate has not been achieved this season. At present, cotton is being bought for Rs.7.5 thousand to Rs.8300 only. The purchase rate of villages has also decreased.Ginning industry happy with low ratesAkot, a major cotton market, has developed in this area. There the current rate of cotton is being sold between 7800 to 8300. However, the income is minimal. Most of the major cotton growers are still holding back the sale of cotton. Farmers are expecting an improvement in the existing rates. The cotton ginning industry is happy with the lower rates. But if we think about it from the other side, there is a possibility that it will affect farming in the coming season. If cotton cultivation declines, it may be time for entrepreneurs to recapture raw materials for the ginning industry. It had to be done in the past. Therefore, reduction in area under cotton cultivation will not be beneficial for this industry also.producers in troubleIncrease the cost of production The farmers producing cotton are spending 30 to 35 thousand per acre due to high cost of agriculture, cultivation rate and wages. This year cotton had to be bought at Rs 10 to 12 per kg. 40 to 50 percent of the income is being spent. Besides, cotton production has come down in the first phase due to incessant rains. Due to this, the farmers had estimated that this year the price of cotton would reach at least 12 thousand. But it's all the other way around. This year the producer is in trouble as it is difficult to get the price of cotton even up to Rs 10,000.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Cotton-pakistan-market-recession-trading-spot-rate-punjab
Recession in Pakistan's cotton marketThe local cotton market was bearish on Monday with thin trading volumes. Cotton analyst Naseem Usman told that the price of cotton in Sindh is Rs 17,000 to Rs 19,000 per head. The rate of cotton in Punjab is Rs 18,000 to Rs 19,000 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 remained unchanged at Rs 18,700 per head. The rate of polyester fiber was increased by Rs 3 and was available at Rs 358 per kg. 👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Tamilnadu-success-warp-weaves-weft-goverment-pm-mitra-textile-manufacturing
Rupee opens 22 paise stronger against dollarToday, the rupee strengthened by 22 paise to open at Rs 82.15 against the dollar. On the other hand, on Monday, the rupee strengthened by 11 paise to close at Rs 82.37 against the dollar.Sensex gains a bit more, opens up 165 points, Today, the BSE Sensex opened at a level of 57818.83 points with a gain of about 164.97 points. On the other hand, NSE's Nifty opened at a level of 17027.20 points with a gain of 41.50 points.
Tamil Nadu weaves success story with warp and weftThe DMK government originally planned a "large textile park" in southern Tamil Nadu for industrialization and job creation. That's when the Center came up with the concept of 'PM Mitra' parks to make India a global hub for textile manufacturing. Tamil Nadu was among the 13 states that sent proposals to the Centre.The fabric of Tamil Nadu's textile sector has been strengthened in the last few days with the formal launch of the first 'PM Mitra' Textile Park at Virudhunagar and the unveiling of policies for the industry. Virudhunagar Park is the result of the state's sustained engagement with the Center over the past two years.Industries minister Thangam Thennarasu told TOI "We followed and met stringent selection criteria. We had 1,500 acres of land readily available near the state-owned SIPCOT in Virudhunagar and that was the deciding factor. This Kanyakumari-Chennai four-lane was on the Industrial Corridor and within easy reach of Tuticorin Port and Madurai Airport”.The minister said, “Our CM (MK Stalin) brought this to the notice of PM Modi then. We also had a plenary meeting with Union Minister Piyush Goyal and explained to him the benefits of allotting such a park to Tamil Nadu. Everything enables it”. Last week, when the park was formally launched, TN ensured that 11 companies signed an MoU to set up the units with a combined investment of Rs 1,231 crore. Stalin also urged the Center to nominate SIPCOT as the master developer so as to reduce the time taken for commissioning of the park."If everything goes according to plan, the park should be fully operational by 2025," Thennarasu said. Tamil Nadu's textile industry is naturally booming. Chandra Textiles Pvt CII-SR & MD Deputy Chairperson R. Ltd. The textile industry has always been one of the biggest employment generators in Tamil Nadu.Now, the industry is poised for rapid take-off, says SIMA President Ravi Sam. Tamil Nadu government to focus on three areas - scale, product and cotton. “We need to scale up capabilities. The recently arrived Bangladesh has 10 times the capacity of the Indian units. We also need to move up the value chain and stop focusing on basic products. There are more than 2,500 varieties and we should reduce it to about 50. Only then can one have control over the final product.Nandini of Chandra Textiles says the Center and states are promoting man-made and technical textiles. “This will put Tamil Nadu on the world map for innovation in technical textiles as our contribution as of now is very small. For this we need a lot of engagement between industry and academia. Imparting skills in technical textiles becomes an important requirement for man-made textiles, as they are completely different from traditional textile products.“Another area of focus should be labour. The industry employs mostly guest workers. Now, with many North Indian states also focusing on the growth path, the textile industry in Tamil Nadu should opt for rapid automation so that the need for blue-collar labor is less and white-collar labor is more. Hence, imparting skills becomes important,” says Nandini. The key for Tamil Nadu is to focus on emerging global opportunities in man-made fibers while consolidating its position in traditional natural fibres.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Textile-cotton-price-relieved-softening-industry-india-skyrocketing
Rupee strengthened by 11 paise against dollarThe rupee strengthened by 11 paise to close at Rs 82.37 against the dollar this evening.Sensex closed up by 127 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 57653.86 points with a gain of about 126.76 points.On the other hand, the Nifty closed at a level of 16985.70 points with a fall of 40.70 points.
Textile industry is not relieved by softening of cotton pricesWith cotton prices recently falling to Rs 61,000 per candy (356 kg), down almost 45% from their peak of Rs 1.1 lakh, there is no silver lining for the textile industry. Since the Covid-19 pandemic, Gujarat, India's textile hub, has been reeling under low capacity, falling demand and rising production costs.no hopeFinancial year 2022-23 was no different, with skyrocketing cotton prices being the prime culprit. While cotton prices have recently come down to Rs 61,000 per candy (356 kg), down almost 45% from their peak of Rs 1.1 lakh, there is no silver lining for the textile industry. With cotton from India being more expensive than other producers, textile manufacturers in Gujarat are unable to compete with their counterparts in China, Vietnam and Bangladesh.lost global competitivenessIndustry players say that, the capacity utilization has dropped to around 65%. Rahul Shah, co-chairman of the GCCI Textiles Taskforce, said, “In the last one year, our industry has lost competitiveness globally. Indian cotton used to be at least 5% cheaper than international rates. effective rates remain high compared to the international market despite the recent softening. "Low cotton yield is a growing concern. Spinning mills were forced to shut down operations in an unprecedented situation witnessed last year .👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Cotton-adilabad-suffer-farmer-due-prices-appeal-help-goverment
Adilabad cotton farmers suffer due to fall in prices, appeal for government helpCotton farmers are disillusioned after the sharp fall in prices as many stocked cotton at their homes in the hope of getting a good price. Cotton prices have come down to Rs 7,260 from a strong level of Rs 9,000 last November.It is estimated that more than three lakh quintals of cotton is still with the farmers in Adilabad district. He has appealed to the state and central governments to come to his rescue as he had invested heavily in Kharif. Private traders said instead of waiting in desperation, cotton farmers can now sell their produce at a cheaper price.Cotton is cultivated in about four lakh acres in Adilabad district, while it is more than 15 lakh in the erstwhile Adilabad district. Many farmers have stopped bringing their cotton to the market in the last two months in the hope of reaching Rs 10,000 per quintal. However, his hopes have been dashed.Some farmers stored the produce, some farmers sold to private traders from Maharashtra as they came to buy directly from the farmers. A farmer from Talmadugu mandal K. Raju said that he is in trouble for the last five months. 9,000 was offered by private traders in Adilabad when commercial operations started, but the price has come down drastically.He alleged that the prices would increase only when all the farmers sell their cotton to private cotton traders.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Cotton-taking-pakistan-increase-steps-goverment-factories-sizing
Pakistan is taking steps to increase cotton productionThe government has taken timely positive steps to increase the production of cotton for the next season, which is expected to increase cotton production. The cotton production target for the next season has been kept at 127.7 lakh bales. The NFSR has also called for procurement of 10 lakh bales through TCP to keep the intervention price stable and constitution of Cotton Price Review Committee (CPRC) to monitor it, which is a welcome sign.There were reports of closure of cotton looms, garment factories and sizing factories in the market and this may further deepen the crisis. Due to lack of business, financial crisis is increasing in the market. However, the cotton yarn market is also at a standstill. The spinners have sold a large quantity of yarn on credit. There were almost no imports, resulting in a severe financial crisis and making payments extremely difficult.The situation with PC yarn is also not much different. In this situation, according to the All Pakistan Textile Mills Association (APTMA), doing business is almost impossible. On the other hand, the economic and political situation of the country has already deteriorated. Higher sales tax rates, energy crisis and news of further interest rate hikes will add to the woes.According to the USDA's weekly export and sales report for the year 2022-23, three lakh, ten thousand and two hundred bales were sold. Vietnam topped by purchasing one lakh fifteen thousand three hundred bales. China came second by buying ninety five thousand nine hundred bales. Bangladesh bought 30,000 bales and came in third. Turkey bought 25,100 bales and stood at the fourth position. Pakistan bought 15700 bales and stood at the fifth position.As the government has failed to solve the economic problems including industry issues, it is feared that about seven million workforce of the industry is being affected due to closure of industries or reduction in their productivity. Four million of these affected workers are garment workers. This was disclosed by the Coordinator of Value Added Textile Forum, Mohammad Javed Balwani during a meeting with the representatives of Value Added Sector at PHMA House.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/PAKISTAN-COTTON-MARKET-REVIEW-PRICES-WEEKLY-DECLINE
Weekly Cotton Review of Pakistan Cotton MarketCotton prices continued to decline in the last week amid weak trade. There was also a slowdown in the international cotton market. Karachi Cotton Brokers Forum President Naseem Usman has said that the bearish trend in the international cotton market has remained due to the recession.Cotton prices in Sindh province have further declined to Rs 17,000 to Rs 18,500 per head. The rate of footi available in small quantity is Rs 5500 to 8300 per 40 kg. Cotton prices in Punjab range from Rs 17,500 to Rs 18,500 per head while footy costs Rs 6,000 to Rs 8,700 per 40 kg.There is a decrease in the demand and prices of cottonseed, oilseeds and oil. The spot rate committee of the Karachi Cotton Association reduced the spot rate by Rs 300 per head and closed it at Rs 18,700 per head.
Rupee opens 13 paise stronger against dollarToday, the rupee opened at a level of Rs 82.35 against the dollar with a strength of 13 paise. On the other hand, on Friday, the rupee closed at a level of Rs 82.48 against the dollar with a weakness of 22 paise.Sensex gains a bit more, opens up 67 pointsH BSE's Sensex opened at a level of 57594.51 points with a gain of about 67.41 points. On the other hand, NSE's Nifty opened at a level of 16975.00 points with a gain of 30.00 points. Today
recession in pakistan cotton marketLahore: The local cotton market turned bearish on Friday with thin trading volumes. Cotton analyst Naseem Usman told that the price of cotton in Sindh is Rs 17,000 to Rs 19,000 per head.The rate of cotton in Punjab is Rs 18,000 to Rs 19,000 per head. The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The price of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.The spot rate remained unchanged at Rs 18,700 per head. Polyester fiber was available at Rs 355 per kg.
Rupee strengthened by 39 paise against dollarThe rupee strengthened by 39 paise to close at Rs 82.27 against the dollar this evening.Sensex falls, breaks 289 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 57925.28 points, down by about 289.31 points.On the other hand, the Nifty closed at a level of 17076.90 points with a fall of 75.00 points.
Tamil Nadu cotton farmers have full hope - cotton prices will increase in the coming weekCotton farmers in Ramanathapuram district of Tamil Nadu state are hopeful of getting good prices for their crop in the coming week. Actually, the harvesting of cotton crop is going on at a fast pace in the district. This is the reason why the farmers have once again raised the hope of increasing the prices. At present, cotton is being sold at an average of Rs 65 per kg, while last year in the same season the price had increased up to Rs 103 per kg.Bakkinathan, a farmer from Ramanathapuram said “Last year, the prices were above Rs 100 per kg at the initial stage of harvesting, but it came down to Rs 65 per kg at the end of the season. Now, the price at the initial stage is Rs 65. We Hopefully this will increase in the coming weeks."Being the most widely grown crop in the district after paddy and chilli, cotton was cultivated in about 8,800 hectares this year. Cotton is generally cultivated in two seasons; The first season starts in January-February and lasts till April.Agriculture officials said the area under cotton cultivation has increased this year as the crop fetched higher prices last year. The total crop this year is likely to cross 2 lakh metric tonnes. Currently, farmers are opting for regulated markets to sell their produce. Last year, over 1.4 lakh tonnes of cotton was harvested during the season and sold through regulated markets.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/news-details-hindi/PAKISTAN-MARKET-DECREASED-COTTON-HEAD-KCA-SPOT-RATE
Spot rate in Pakistan cotton market decreased by Rs 300 per headThe spot rate committee of the Karachi Cotton Association (KCA) on Wednesday reduced the spot rate by Rs 300 per head and closed it at Rs 18,700 per head. The local cotton market remained bearish and the trading volume was very low.Cotton analyst Naseem Usman said that the rate of cotton in Sindh is Rs 17,000 to Rs 18,500 per head. The rate of cotton in Punjab is Rs 17,500 to Rs 18,500 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. 500 bales of Sadiqabad were sold at Rs 18,500 per head.The spot rate committee of the Karachi Cotton Association reduced the spot rate by Rs 300 per head and closed it at Rs 18,700 per head. Polyester fiber was available at Rs 355 per kg.
| title | Created At | Action |
|---|---|---|
| Rupee falls against dollar, breaks 6 paise | 29-03-2023 16:44:01 | view |
| Rupee strengthened by 18 paise against dollar | 28-03-2023 23:12:10 | view |
| Cotton growers' hopes still unfulfilled | 28-03-2023 21:38:33 | view |
| Recession in Pakistan's cotton market | 28-03-2023 18:41:41 | view |
| Rupee open 22 paise stronger against dollar | 28-03-2023 16:44:30 | view |
| Tamil Nadu weaves success story with warp and weft | 28-03-2023 01:14:22 | view |
| Rupee strengthened by 11 paise against dollar | 27-03-2023 23:23:26 | view |
| Textile industry is not relieved by softening of cotton prices | 27-03-2023 21:55:04 | view |
| Adilabad cotton farmers suffer due to fall in prices, appeal for government help | 27-03-2023 19:42:39 | view |
| Pakistan is taking steps to increase cotton production | 27-03-2023 18:54:36 | view |
| Weekly Cotton Review of Pakistan Cotton Market | 27-03-2023 18:34:58 | view |
| Rupee open 13 paise stronger against dollar | 27-03-2023 16:45:20 | view |
| recession pakistan cotton market | 25-03-2023 18:34:22 | view |
| Rupee strengthened by 39 paise against dollar | 23-03-2023 23:22:01 | view |
| Tamil Nadu cotton farmers have full hope - cotton prices will increase in the coming week | 23-03-2023 21:40:29 | view |
| Spot rate in Pakistan cotton market decreased by Rs 300 per head | 23-03-2023 20:10:31 | view |
