PAKISTAN COTTON MARKET UPDATEVolume of business satisfactory on cotton marketThe Spot Rate Committee of the Karachi Cotton Association on Friday has increased the spot rate by Rs 100 per maund and closed it at Rs 15400 per maund.The Spot Rate Committee of the Karachi Cotton Association on Friday has increased the spot rate by Rs 100 per maund and closed it at Rs 15400 per maund. The polyester fibre was available at Rs 247 per kg.The local cotton market remained bullish and trading volume remained satisfactory.The rate of cotton in Sindh remained between Rs 12000 to Rs 16,000 per maund and the rate of cotton in Punjab was registered at Rs 14,500 to Rs 15,800 per maund.The rate of the new crop of Phutti in Sindh was remained between Rs 4,500 to Rs 6,500 per 40 kg. While Phutti prices in Punjab were between Rs 5,800 to Rs 7,800 per 40 kg.Similarly, prices of cotton in Balochistan were remained at Rs 14,500 to 15,800 per maund while Phutti prices were high as compared to other two provinces which were Rs 6,800 to 8,200 per maund, said Naseem Usman.The rate of Banola in Sindh was between Rs 1,350 to Rs 1,950 per maund. While in Punjab rates of Banola were between Rs 16,00 to Rs 2,100 per maund. The rate of Banola in Balochistan today was Rs 16,000 to 2,000 per maund.2600 bales of Dherki were sold at Rs 15900 to Rs 16000 per maund, 800 bales of Pano Aqil were sold at Rs 15700 per maund, 400 bales of Ghotki were sold at Rs 15900 per maund, 1200 bales of Mir Pur Mathelo were sold at Rs 15600 to Rs 15900 per maund, 600 bales of Ubaro were sold at Rs 15800 per maund, 200 bales of Sarhad were sold at Rs 15700 per maund, 1200 bales of Rohri were sold at Rs 14500 to Rs 14700 per maund, 2000 bales of Sadiqabad, 4000 bales of Rahim Yar Khan were sold at Rs 15500 to Rs 15600 per maund, 1000 bales of Khair Pur were sold at Rs 15600 per maund, 800 bales of Mian Wali were sold at Rs 15500 to Rs 15550 per maund, 1200 bales of Haroonabad were sold at Rs 14800 to Rs 15400 per maund, 2000 bales of Fort Abbas were sold at Rs 15200 per maund, 400 bales of Lodhran were sold at Rs 15000 per maund, 800 bales of Dharan Wala were sold at Rs 14775 to Rs 15000 per maund, 1000 bales of Yazman Mandi were sold at Rs 14850 to Rs 15000 per maund, 400 bales of Kassowal were sold at Rs 15000 per maund, 400 bales of Faqeer Wali were sold at Rs 14850 per maund, 400 bales of Layyah were sold at Rs 14775 per maund.
Measures sought to boost cotton productionThe Southern India Mills’ Association (SIMA) has sought measures to increase cotton production in Tamil Nadu for the benefit of the textile mills here. Association chairman Ravi Sam and chairman of Confederation of Indian Textile Industry T. Rajkumar met Chief Minister M.K. Stalin in Chennai on Friday.They said with Tamil Nadu being the largest yarn producer in the country and since cotton was the main raw material for these mills, the State should increase cotton production. The current production of five lakh bales of cotton a year should be increased to 30 lakh bales. The Cotton Cultivation Mission should be brought under the Department of Textiles in the State and the Association’s cotton division (Cotton Development and Research Association) should be also be involved in these measures.Mr. Ravi Sam and Mr. Rajkumar also appealed to the Chief Minister to maintain status quo on the power front, especially regarding wind power evacuation and banking facility for the old wind mills too. The mills should be permitted to install rooftop solar panels upto the sanctioned demand, and should be able to continue third party power purchase for less than one MW too. All Micro, Small and Medium-scale Enterprises (MSMEs) that had upto 500 KW rooftop solar power should be permitted to have net metering.In a move to settle all disputes related to electricity, the government should come out with a “Samadhaan Scheme”, they said.Mr. Ravi Sam and Mr. Rajkumar also met the officials and Minister for Industries Thangam Thennarasu. The Association plans to felicilate the Chief Minister at a function planned here next month, a release said.
Today evening, the rupee strengthened by 5 paise to close at Rs 74.88 against the dollar.Sensex falls by 678 pointsToday the stock market closed with a fall. Today, where the Sensex closed at the level of 59306.93 points, down by about 677.77 points. On the other hand, Nifty closed at a level of 17671.70 points down by 185.60 points.
Rupee opens 14 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 14 paise at Rs 74.78 against the dollar. At the same time, the rupee on Thursday closed at Rs 74.92 with a strength of 11 paise against the dollar.
Bad start again, opened after falling 571 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by about 570.54 points and opened at the level of 59414.16 points. On the other hand, the Nifty of NSE opened with a decline of 169.70 points at the level of 17687.60 points.
*Bangladesh Cotton Association concerned over shortage, rising prices**Expressing concern over the uncertainty regarding the availability of cotton and its rising price fuelled by a supply-demand gap, Bangladesh cotton trading industry leaders belonging to the Bangladesh Cotton*Association (BCA) recently called on readymade garment (RMG) exporters to be cautious about the price rise and negotiate accordingly while receiving work orders.**They also requested the government to take necessary measures, including setting up of foreign missions in the cotton-producing countries, especially those in West Africa, and encouraging both foreign and local investment in garment production based on man-made fibres.**Apparel sector leaders, however, said they were actively considering setting up a benchmark of the minimum rate of locally-produced garments to help reduce unhealthy price cut practices among exporters while ordering.**BCA’s next president Muhammad Ayub said the global cotton index hit its decade highest index on September 28 last and maintained its rising trend, according to Bangladeshi media reports.**"As cotton harvesting is taking place in most of the cotton producing countries, cotton price was expected to go down. But the reality is different," he said.**"So we are uncertain what the future price would be and about its availability," he said, adding that they were not getting any response to their indent offer from the millers as the latter were following a wait and watch strategy.**Bangladesh Textile Mills Association (BTMA) vice president Fazlul Hoque claimed they had no control on cotton price and that yarn price had not increased as much as cotton.**The BTMA, however, fixed yarn price with consultation with all stakeholders and requested its member mills to maintain the rate until November 30 and informed exporters that yarn price might go up further in December in line with the cotton price.**Buyers are not offering enhanced prices in line with price hike of the raw material, Bangladesh Knitwear Manufacturers and Exporters Association executive president Mohammad Hatem noted.**Bangladesh Terry Towel and Linen Manufacturers and Exporters Association chairman Shahadat Hossain Sohel demanded that the government should allow duty free import of all kinds of yarn for one or two years to offset the crisis period. There is a 37 per cent regulatory duty on import of yarn, he said.**The government should withdraw this high duty to help clothing production meet local demand, he added.* *SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771*Smartinfoindia.com*https://wa.me/919111977775*
*PAKISTAN COTTON MARKET UPDATE**Stable trend persists on cotton market**The local cotton market on Thursday remained bullish and trading volume remained satisfactory.**The Spot Rate remained unchanged at Rs 15300 per maund. The polyester fibre was available at Rs 247 per kg.**The rate of cotton in Sindh remained between Rs 12500 to Rs 15,900 per maund and the rate of cotton in Punjab was registered at Rs 14,200 to Rs 15,800 per maund.**The rate of the new crop of Phutti in Sindh was remained between Rs 4,500 to Rs 6,400 per 40 kg. While Phutti prices in Punjab were between Rs 5,800 to Rs 7,700 per 40 kg.**Similarly, prices of cotton in Balochistan were remained at Rs 14,000 to 15,800 per maund while Phutti prices were high as compared to the other two provinces which were Rs 6,800 to 8,000 per maund, said Naseem Usman.**The rate of Banola in Sindh was between Rs 1,400 to Rs 1,900 per maund. While in Punjab rates of Banola were between Rs 16,00 to Rs 2,000 per maund. The rate of Banola in Balochistan today was Rs 16,000 to 2,000 per maund.**1600 bales of Dherki, 400 bales of Pano Aqil, 400 bales of Mir Pur Mathelo were sold at Rs 15900 per maund, 600 bales of Urbaro were sold at Rs 15800 per maund, 1200 bales of Saleh Pat were sold at Rs 14900 to Rs 15150 per maund, 3200 bales of Khair Pur were sold at Rs 14500 to Rs 15000 per maund, 1000 bales of Nawab Shah were sold at Rs 12900 to Rs 13400 per maund, 1000 bales of Sadiqabad were sold at Rs 15600 per maund, 4000 bales of Rahim Yar Khan were sold at Rs 15500 to Rs 15600 per maund, 2000 bales of Khan Pur, 400 bales of Mian Wali were sold at Rs 15500 per maund, 200 bales of Multan were sold at Rs 15400 per maund, 600 bales of Marrot, 2000 bales of Marrot were sold at Rs 15200 per maund, 2000 bales of Yazman Mandi were sold at Rs 15000 per maund, 600 bales of Faqeer Wali were sold at Rs 14900 per maund, 1200 bales of Haroonabad were sold at Rs 14600 to Rs 15200 per maund, 200 bales of Chichawatni were sold at Rs 13700 per maund, 1000 bales of Khanewal were sold at Rs 12900 to Rs 15700 per maund and 200 bales of Gojra were sold at Rs 12700 per maund.*
*All India weather forecast for October 29, 2021**Countrywide weather systems*A low pressure area has formed over southwest Bay of Bengal and it is likely to move westwards in the next few days. It will move westwards towards Tamil Nadu. An associated cyclonic circulation is extending up to the middle troposphere level.A trough is extending from the associated cyclonic circulation up to Northwest Bay of Bengal.Another trough is extending from Kerala to Southeast Arabian Sea to East Central Arabian Sea off Karnataka coast.An Anticyclone is persisting over Western part of Rajasthan.A Weak Western Disturbance is persisting over Upper Western Himalayas.*Weather movement across the country during the last 24 hours*During the last 24 hours, isolated light to moderate rains occurred over Kerala, parts of Tamil Nadu, Puducherry and Odisha.Some rain was also observed in isolated parts of Himachal Pradesh, Bihar, Gangetic West Bengal, Nagaland, Mizoram, Tripura.Andaman and Nicobar Islands as well as Lakshadweep witnessed moderate rain.The minimum temperatures have further declined over the northwest and central parts of the country.*Possible weather activity during next 24 hours*During the next 24 hours, moderate rain is very likely at isolated places over Tamil Nadu and Coastal Andhra Pradesh.Good rains are expected over Kerala and parts of Karnataka.Light to moderate rain is possible over Andaman and Nicobar Islands and Lakshadweep.The temperature is likely to drop further over North India including Punjab, Haryana, Rajasthan, Delhi and western parts of Uttar Pradesh. *SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771*Smartinfoindia.com*https://wa.me/919111977775*
*ICE COTTON SUMMARY**Cotton hits 3-week high on firm export sales data, weaker dollar**ICE cotton futures rose more than 1% to a near three-week high on Thursday, as the dollar weakened, after a federal weekly exports sales report highlighted strong buying activity from top consumer China.**"There are a couple of elements particularly driving the buying momentum for cotton prices like renewed optimism on trade talks between the US and China, with an influx of speculators buying the market," said Valentin Olah, cotton risk management consultant at StoneX Group.**"The export sales report highlights that there is a sustained healthy demand from different import markets, and I'm particularly talking about China and Turkey, both of these countries have consistently been buying," Olah added.**The US Department of Agriculture's weekly export sales report showed net sales of 360,800 running bales of cotton, up 6% from the prior 4-week average, with increases primarily for China. Meanwhile, making cotton less expensive for other currency holders, the dollar index fell to a one-week low against its rivals.**Total futures market volume fell by 8,215 to 25,211 lots. Data showed total open interest gained 1,616 to 286,727 contracts in the previous session. Certificated cotton stocks deliverable as of Oct. 27 totaled 26,021 480-lb bales, unchanged from 26,021 in the previous session.*
U.S. EXPORT SALES FOR WEEK ENDING 21/10/2021 Cotton: Net sales of 360,800 RB for 2021/2022 were down 8 percent from the previous week, but up 6 percent from the prior 4-week average. Increases primarily for China (186,700 RB, including 4,400 RB switched from Vietnam and decreases of 5,300 RB), Turkey (149,200 RB), India (5,700 RB), South Korea (4,300 RB), and Mexico (3,900 RB), were offset by reductions for Ecuador (200 RB). Total net sales of 20,000 RB for 2022/2023 were for China. Exports of 63,400 RB--a marketing-year low--were down 46 percent from the previous week and 49 percent from the prior 4-week average. The destinations were primarily to Pakistan (12,600 RB), Vietnam (11,200 RB), Turkey (8,800 RB), China (8,500 RB), and Mexico (7,800 RB). Net sales of Pima totaling 8,500 RB were down 65 percent from the previous week and 45 percent from the prior 4-week average. Increases primarily for India (4,800 RB), Peru (1,900 RB), China (900 RB), Thailand (500 RB), and Japan (300 RB), were offset by reductions for Colombia (100 RB). Exports of 2,200 RB--a marketing-year low--were down 60 percent from the previous week and 72 percent from the prior 4-week average. The destination was to India. Optional Origin Sales: For 2021/2022, the current outstanding balance of 8,800 RB is for Pakistan. Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance of 4,800 RB is for China (4,700 RB) and Vietnam (100 RB).
Today evening, the rupee strengthened by 11 paise to close at Rs 74.92 against the dollar.Today the stock market closed with a fall.Today, where the Sensex closed at a level of 59984.70 points, down 1158.63 points. On the other hand, Nifty closed at the level of 17857.30 points down by 353.70 points.
Rupee opens 9 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 9 paise at Rs 74.93 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 75.02 with a weakness of 7 paise against the dollar.Bad start in Sensex, opening by falling 165 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by about 164.83 points and opened at the level of 60978.50 points. On the other hand, NSE's Nifty fell by 67.00 points and opened at the level of 18144.00 points.
*All India weather forecast for October 28, 2021**Weather systems made across the country*The Cyclonic Circulation is over South-central Bay of Bengal, under whose influence a Low Pressure Area is expected to form today, October 27. It will move westwards towards Tamil Nadu.From this cyclonic circulation, a trough is extending up to Southeast Arabian Sea across Tamil Nadu and Kerala.An Anticyclone is over West Rajasthan.A Weak Western Disturbance is persisting over North Pakistan.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred over parts of Tamil Nadu, Andaman and Nicobar Islands, Himachal Pradesh.Light rain occurred at isolated places over Kerala, South Coastal Andhra Pradesh and North Coastal Odisha, Coastal Andhra Pradesh and very light rain over Southwest Madhya Pradesh.The minimum temperatures have further declined over the northwest and central parts of the country.*Possible weather activity during next 24 hours*During the next 24 hours, light to moderate rain at a few places is very likely to occur over Tamil Nadu, Kerala and Coastal Andhra Pradesh.Light to moderate rain may occur over Andaman and Nicobar Islands and Lakshadweep.Light rain is possible at one or two places over Gangetic West Bengal, Coastal Odisha, Manipur, Mizoram and Tripura.
Today evening, the rupee depreciated by 7 paise to close at Rs 75.02 against the dollar.Sensex down, Sensex closed by breaking 207 pointsToday the stock market closed with a fall. Today, where the Sensex fell by about 206.93 points, closed at the level of 61143.33 points. On the other hand, Nifty closed at the level of 18211.00 points down by 57.40 points.
Rupee depreciates against dollar, loses 4 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 3 paise at Rs 75.00 against the dollar. At the same time, the rupee on Tuesday closed at Rs 74.96 with a strength of 12 paise against the dollar.
Sensex opens sharply, rises 100 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 99.53 points to open at the level of 61449.79 points. On the other hand, the Nifty of NSE opened with a gain of 29.60 points at the level of 18298.00 points.
| title | Created At | Action |
|---|---|---|
| PAKISTAN COTTON MARKET UPDATE | 30-10-2021 18:29:49 | view |
| Measures sought to boost cotton production | 30-10-2021 18:28:36 | view |
| Today evening, the rupee strengthened by 5 paise to close at Rs 74.88 against the dollar | 30-10-2021 00:16:39 | view |
| Rupee opens 14 paise stronger against dollar | 29-10-2021 17:46:27 | view |
| Bad start again, opened after falling 571 points | 29-10-2021 17:46:02 | view |
| *Bangladesh Cotton Association worried about shortage, rising prices* | 29-10-2021 14:49:20 | view |
| *PAKISTAN COTTON MARKET UPDATE* | 29-10-2021 14:30:41 | view |
| *All India weather forecast for October 29, 2021* | 29-10-2021 14:29:56 | view |
| Strong export sales data, cotton at 3-week high on weak dollar | 29-10-2021 14:24:38 | view |
| U.S. EXPORT SALES FOR WEEK ENDING 21/10/2021 | 29-10-2021 01:13:57 | view |
| Today evening, the rupee strengthened by 11 paise to close at Rs 74.92 against the dollar | 29-10-2021 01:12:07 | view |
| Rupee opens 9 paise stronger against dollar | 28-10-2021 17:39:04 | view |
| All India weather forecast for October 28, 2021 | 28-10-2021 14:24:03 | view |
| Today evening, the rupee depreciated by 7 paise to close at Rs 75.02 against the dollar | 27-10-2021 23:38:17 | view |
| Rupee depreciates against dollar, loses 4 paise | 27-10-2021 17:51:14 | view |
| Sensex opens sharply, rises 100 points | 27-10-2021 17:50:07 | view |
