Today evening, the rupee strengthened by 9 paise to close at Rs 74.18 against the dollar.New record of Sensex and Nifty, know how much increased todayToday the stock market closed with a record high. Today, where the Sensex closed at a level of 54369.77 points with a record rise of 546.41 points. On the other hand, Nifty closed at the level of 16258.80 points with a gain of 128.00 points.
Rupee has started with a strong opening today against the dollar.Rupee is seen at the upper level of June 25 today. Against the dollar, the rupee today opened with the strength of 11 paise at 74.17 against 74.28.The market has grown rapidly.Sensex, Nifty are trading at record highs. The midcap index appears to be at a record high. 35 out of 50 Nifty stocks are seeing gains. On the other hand, 18 out of 30 Sensex stocks are seeing gains.
In a pathbreaking move, govt removes anti anti-dumping duty on Viscose Staple FibreThe government on Monday removed anti-dumping duty on Viscose Staple Fibre (VSF). Union Minister Smriti Irani said the decision was taken after a thorough investigation initiated in February this year. This decision will give fillip to the MMF sector.Irani tweeted, "Pathbreaking decision by GOI to remove Anti-dumping Duty on Viscose Staple Fibre (VSF). Decision taken after thorough investigation initiated in Feb’21 will give fillip to the MMF sector. My best wishes to the Textiles Industry as a new chapter begins in India’s MMF growth story."For the unversed, Viscose staple fibers (VSF) or artificial cotton fibers are natural and biodegradable. These fibers are obtained from wood pulp and cotton pulp, which share the characteristics of cotton fibers. These are versatile and easily bendable fibers and have a wide range of application in apparels, home textiles, home furnishings, dress materials, and woven & knitwear.
Vietnam factory shut down!Affected by the epidemic, 97% of textile companies in South Vietnam have suspended production. Most of the factories have been suspended since midnight on July 15. After being checked and approved by officials of the local disease management bureau, work can only be resumed.Although the export orders of the Vietnamese textile industry have been received in the third quarter, companies are currently struggling to achieve a balance in production activities, ensuring employment of employees, and profits. The demand for brand customers to delay payment by 2 to 3 months, or even 6 months, is also beyond the capacity of enterprises. Moreover, in the face of the huge risks brought by the increasingly complex epidemic, some brand customers have moved their orders out of Vietnam, and even have a tendency to return to the Chinese market.With the bankruptcy of the 3T in-situ principle, more and more companies have already shouldered huge cost burdens and epidemic prevention pressures. As a result, a large number of unemployed people have nowhere to live, and Vietnam's social stability will also face tremendous pressure.
Noida garment exporters demand ban on export of Indian cotton and yarnNoida Apparel Export Cluster (NAEC) has demanded a complete ban on export of Indian cotton and yarn to increase production in the domestic apparel industry, so that the finished products can be exported internationally to generate more revenue.The cluster also said that the ban on export of cotton and yarn will ensure greater availability of raw materials for the apparel industry, which has been sluggish for the past six months due to the Covid-19 induced slowdown, and enable it to compete Is. in the global export market.Lalit Thukral, President, Noida Apparel Export Cluster and Convener of Readymade Garments (RMG), Uttar Pradesh Export Promotion Council, said that the industry is already battling huge losses due to the pandemic and large scale exports of cotton and yarn. It has come as a double blow. It is worth mentioning here that the share of Noida in apparel exports in the last financial year was US$ 3.5 billion.As per the data of the Ministry of Textiles, the country exported around 12 million bales of cotton and yarn in the last two financial years. Data shows that India exported around 5.5 million bales of cotton and yarn to Bangladesh, Vietnam and China in the last fiscal. Of this, 2.197 lakh bales (about 275 million kg) were for China alone.While exports of cotton and yarn generate revenues of around USD 75 billion every year, Thukral said exports of finished garments would increase if exports are banned and more raw materials are made available to the apparel industry. will be generated annually. Revenue of about 40 billion US dollars.He further said that exports were eating into the availability of raw materials for the domestic ready-made garments industry - currently only half of the annual demand of 12 million bales is being met.A Joint Secretary rank official in the Textiles Ministry, on the condition of anonymity, said, “India exported almost 50% of its cotton and yarn to China in the last fiscal. “Our ministry has set a target of USD 400 billion in merchandise exports in the current financial year 2021-22. We will soon ban the export of cotton and yarn as it not only affects employment generation (more raw material will provide direct/indirect employment to at least 9 million more people), but also the growth of garment manufacturers and exporters. also obstructs,"SiS Commited to update you on all textile related news real time.
Cotton Corporation stocks drop down to 9 lakh balesThe Cotton Corporation of India (CCI) has said it has almost exhausted all its existing stocks and is now left with only 9 lakh bales before the start of the next season in October, due to the strong demand for cotton in the market.Pradeep Kumar Agarwal, chairman and managing director of CCI, said the corporation had an opening stock of 115 lakh bales of cotton at the start of the season in October 2020 and had procured 92 lakh bales since then.“International cotton prices and MCX prices have risen by Rs 7,500 and Rs 6,000 a candy, respectively, in the last one-and-a-half months. But CCI has been conservative in increasing prices and has raised prices by Rs 2,200 to Rs 2,500 a candy for the same period, except for one to two varieties, where it is higher,” he said.In the last one month, 40% of the cotton sold by CCI has been purchased by textile mills directly.
Despite a rise in area, cotton yield drops below 500 kg per hectare in IndiaProductivity is low as no new technology has been introduced since 2006, say, industry officials, scientists.Over the last three years, the yield per hectare of Indian cotton has dropped below 500 kg per hectare despite a rise in the area under the fibre crop.‘Yet to feel the pinch’Industry officials, traders and cotton research scientists say India is yet to feel the pinch of the low yield since the textile industry has not been running at capacity since March last year due to the Covid pandemic.Ranks 34 in yieldData show that though India is the largest producer of cotton globally, it ranks 34th in terms of yield, below Vietnam, Pakistan, Ivory Coast, Ethiopia and Myanmar.Australia tops the list, getting 2,0171 kg of cotton per hectare, followed by China (1,879 kg), Brazil (1,803 kg) and Turkey (1,645 kg), respectively. “We got the best out of the genetically-modified cotton during 2013-14, but after that yield has stagnated.Technology licence“Each one in the textile industry will stand to gain if cotton yield increases to at least 600 kg. Farmers will get higher returns, industry will get cotton at a competitive price and in turn, textile products will be competitive in the global market,” said a textile industry official.Pink bollworm menace“The Bollgard II technology had a big impact, particularly in tackling the pink bollworm until 2015-16. After than the technology lost its potency and the pest developed resistance. Now, farmers have to resort to spraying pesticide to tackle the bollworm and, in a way, this has resulted in productivity dropping,” said Ramasami.Maharashtra’s case“At least 20 lakh hectares in Maharashtra have been brought under the unauthorised HTBt (Herbicide tolerant Bt) cotton. This is fine for short-term but in the longer run, we need standard companies to produce the seeds to protect farmers from any harm such as adulterated or spurious seeds,” said scientist Mayee.
Ministry of Textiles21.97 lakh Bales of Cotton exported from India to China out of the total exports of 54.83 lakh Bales,275 million kg of Cotton Yarn also exported to China out of the total exports of 980 million kg.The export of cotton and yarn from India to China has not stopped due to COVID-19 pandemic. During current cotton season 2020-21 (October 2020 to September 2021) as on April 2021, 21.97 lakh bales of cotton were exported from India to China out of the total exports of 54.83 lakh bales. China was the second largest importer of cotton from India after Bangladesh. Regarding export of yarn, during the year 2020-21 from Apr, 2020 to Mar, 2021, 275 million kg of cotton yarn were exported from India to China out of the total exports of 980 million kg. China was the largest importer of yarn from India. The country-wise data on export of cotton and cotton yarn of 2020-21 is annexed.
U.S. EXPORT SALES FOR WEEK ENDING 22/07/2021 Cotton: Net sales reductions of 1,200 RB for 2020/2021--a marketing-year low were--down noticeably from the previous week and from the prior 4-week average. Increases reported for Mexico (2,400 RB), Pakistan (900 RB), Peru (500 RB), South Korea (400 RB), and Egypt (100 RB), were more than offset by reductions for Indonesia (2,200 RB), Vietnam (2,000 RB), China (900 RB), and Japan (400 RB). For 2021/2022, net sales of 192,200 RB primarily for Bangladesh (55,000 RB), Mexico (39,600 RB), Pakistan (33,700 RB), Vietnam (25,300 RB), and Turkey (14,300 RB), were offset by reductions for Guatemala (200 RB). Exports of 238,300 RB were down 3 percent from the previous week and 5 percent from the prior 4-week average. Exports were primarily to Turkey (54,200 RB), Pakistan (48,800 RB), Vietnam (29,300 RB), China (27,500 RB), and Indonesia (18,500 RB). Net sales of Pima totaling 4,200 RB were up 22 percent from the previous week, but down 2 percent from the prior 4-week average. Increases were primarily for Peru (2,300 RB) and India (900 RB). For 2021/2022, net sales of 200 RB were reported for Thailand (100 RB) and Japan (100 RB). Exports of 9,300 RB were down 10 percent from the previous week and 14 percent from the prior 4-week average. The destinations were primarily to India (6,300 RB), Peru (1,500 RB), China (700 RB), Germany (400 RB), and Pakistan (200 RB). Exports for Own Account: For 2020/2021, the current exports for own account totaling 1,000 RB to Vietnam were applied to new or outstanding sales. The outstanding balance of 4,700 RB is for China.Export Adjustments: Accumulated exports of upland cotton to Thailand were adjusted down 352 RB for week ending July 15th. This shipment was reported in error.
China cotton lint imports up 146 per centChina’s imports of cotton linter in the first half of 2021 were up 146 per cent year on year. As per a CCF Group report imports in the first and second quarter of 2021 were up 56 per cent and 262 per cent year on year. In the first half of 2021, imports from India, Turkey and the US were up 550 per cent, 548 per cent and 34 per cent.In the first half of 2021, cotton linter import price fell to a 15-year low. The price of Indian linter is 3.5 per cent lower than the average while that of US linter is 33 per cent higher than the average. The cotton linter import price in June 2021 was up two per cent year on year. The price of Turkish linter is 11 per cent lower than the average while that of Indian and US linter is 12.8 per cent and 27 per cent higher than the average.China’s consumption of cotton linter for staple-grade CLP has increased substantially this year, so have cotton linter imports from India, Turkey and Brazil in the first half of the year. Adding the US, imports from these four countries account for about 95 per cent of total Chinese imports.
Telangana largest supplier of cotton in countryTelangana turned out to be the largest supplier of cotton and second largest supplier of paddy in the country. Union Agriculture Minister Narendra Singh Tomar informed the Lok Sabha on Tuesday that Telangana supplied about 178.55 lakh quintals of cotton and 94.48 lakh tonnes of paddy during the Kharif (Vaanakalam) Marketing Season of 2020-21.Accordingly, the State’s cotton procurement is almost double the cotton procured by Maharashtra which stood at second position with 91.98 lakh quintals. The cotton crop was sold to Cotton Corporation of India which is in addition to the crop purchased by private businessmen.Similarly, Telangana stood in second position in terms of paddy procurement with 94.48 lakh tonnes for Kharif Marketing Season 2020-21. With 135.89 lakh tonnes, Punjab secured the top slot. During the Rabi (Yasangi) Marketing Season 2020-21, Punjab and Telangana have procured an estimated 132.1 lakh tonnes and 92 lakh tonnes respectively.The State had also purchased 6,743.84 tonnes of pulses during the ongoing procurement. All the crops were purchased from farmers at Minimum Support Price as part of the Centre’s Price Support Scheme aimed at eliminating middlemen and support farmers. All the payments to the farmers for their produce are made directly into their bank accounts by the concerned procuring agencies.
Cotton promises to trade above MSP as season startsThe US has slipped down the line of producers cotton prodecers due to the drought in Texas. As a result, cotton prices firmed up post December with Indian farmers being able to command prices above the government declared MSP.Cotton traders foresee a good season as a supply glut threatens to push prices up once the season starts. Pradeep Jain, founder president of Khandesh Gin/Press Owners and Traders Development Association, talked about average traded price of the lint crop touching Rs 6,500-7,000/quintal right at the start of the season.After the US, India is the second largest producer of cotton in the world, but last year, drought in Texas has seen the former slipping down the line of producers. As a result, cotton prices had firmed up post December with Indian farmers able to command prices above the government declared minimum support price (MSP) of Rs 5,515/quintal.Higher international prices had seen Indian exporters managing to send 58 lakh bales (each of 170kg) outside the country. Estimates by the industry has talked about exports touching around 65 lakh bales before the start of the 2021-22 (October-September) cotton year.Higher prices of cotton have not seen an increase in area in the current kharif. Farmers have shifted more towards soybean than cotton, and as of July 23, India reported 108.93 lakh hectares of sowing. Last year, the country had reported sowing over 118.03 lakh hectares during the same time period. Farmers have talked about better realisation in the oilseed as their reason for increasing soybean acreage at the cost of cotton and other crops.Jain said this lower area and higher international prices of both lint and seeds promise good returns for farmers. “India, which had started the 2019-20 season with over 100 lakh bales in reserve, will start the next season with 30-40 lakh bales. As of now international prices are good and if this remains, we see above MSP prices right at the start of the new marketing season,” he said.Jain’s optimism is borne by the bullish trend of Cotlook, an index, which is trading above 90 cents/pound since February this year. For the season of 2019-20, the index had averaged at 71.33 cents/pound. Low price of cotton had seen the Cotton Corporation of India reporting record procurement.In anticipation of the good prices, the Cotton Association of India had urged its members to take measures to increase area. But the figures show most farmers have gone for soybean rather than cotton in the country.
Indian textile exports become noncompetitive as domestic cotton prices increase 6% in Julyhe South Indian Mills Association (SIMA) has said that the steep rise in cotton prices in the domestic markets has made Indian textile exports uncompetitive.SIMA has demanded removal of 10% duty on import of cotton as the prices in the domestic markets increased 6% in July."The downstream exporting sectors, garments and made-ups segments, are finding it difficult to meet their export commitments due to the disruptions caused by lockdowns, shortage of workers and high logistics costs. In this scenario, the steep increase in Indian cotton prices has further destabilized the Industry and is making our exporters uncompetitive. The recent hike in price of Rs.3800/- per candy (355 kgs) of cotton in a span of 15 days by Cotton Corporation of India (CCI) and the 10% import duty levied in the Union Budget 2021-22 on cotton has enabled the trade to increase prices abnormally and this trend is continuing. Such steep increases are a severe blow for the entire cotton textile value chain," said a release from SIMA.Ashwin Chandran, Chairman, SIMA said, "The cotton prices have been increasing rapidly since January 2021 and skyrocketed during the current month. “CCI has increased the cotton price from Rs.51,000/- to Rs.54,800/- per candy of 355 kgs since the beginning of July which has helped fuel the market. The market price of Gujarat based Sankar-6 cotton that prevailed at Rs.43,300/- in January 2021 has increased to Rs.56,600/-, an increase of over 30%."Chandran pointed out that the steep increase in cotton prices will not only affect the industry and squeeze margins, but will also lead to higher prices in apparel and textile goods for our domestic consumers, who are already burdened by the ill-effects of the COVID-19 pandemic."There is no parity between the current cotton prices and yarn prices. This will in turn force spinning mills to increase yarn prices in the coming period to avoid incurring losses. CCI had procured over 25% of the Indian cotton crop under Minimum Support Price operations. The cost of this procurement would work out to Rs.43,000 per candy. The current selling price is abnormally high. Even if the carrying costs and reasonable profit margins are taken into account, CCI could have maintained prices at a reasonable level of around Rs. 48,000 per candy to maintain stability. Though CCI offered a three months lock-in period for bulk purchase, most of the spinning mills could not derive advantage from this due to the liquidity crunch and uncertainties in prices while the multinational cotton traders could take full advantage with hedging facilities and cheaper funds. They have purchased the major volume of CCI cotton at lower prices," claimed Chandran.“Taking advantage of the 10% import duty levied on cotton, the trade has encouraged price speculation and the domestic prices in certain varieties such as ELS cotton has already exceeded the international price making our industry uncompetitive” alleged SIMA Chairman.According to SIMA, though the Committee on Cotton Production and Consumption in its meeting held on April 30 had estimated 288 lakh bales as the mill consumption and 119 lakh bales as the closing stock for the current cotton season presuming normal functioning of the mills after the first wave of COVID-19, the second wave lockdown restrictions especially in States like Tamilnadu brought the industry to a grinding halt for more than a month and consumption might drop by 15 to 20 lakh bales. "Withdrawing 10% import duty levied on cotton will help change the market sentiments and avoid further damage to the cotton textile value chain. Since the industry imports only around 11 to 12 lakhs annually (less than 4% of annual consumption) that too the cotton varieties not grown in India, the import duty does not help the Indian cotton farmers and is a big hindrance to the Indian Textile and Clothing Industry," said Chaindran."
Panipat thread is becoming an alternative to jute, does not harm the environment, 15 new units installed.PANIPAT - Jute is becoming costlier and yarn is becoming an alternative to save it from the damage caused to the environment. Cotton yarn made in Panipat is being used in place of jute rope and twine. With the increase in the use of thread in twine and rope, the demand is also increasing.Entrepreneurs making open end yarn say that the export of yarn made here has also started. Due to the formation of color thread, the environment is not harmed by the dyeing chemical. In view of the increasing demand for yarn, new units have also started coming up. Preparations are on to set up 15-20 plants. Some entrepreneurs who set up a mink blanket plant, replaced the mink blanket with open end (thread making) industries.Production of 30 lakh kg of threadPanipat produces 30 lakh kg of yarn daily. 70 units of thread are engaged. Most of the thread is made from waste by mixing cotton and kamber. The consumption of thread is high in export. Due to good export orders, the demand for yarn is going well.Fine count startedEarlier only chorus count was made in Panipat, now 20 count fine has also started being made. Fine count is being exported.Yarn consumption increased due to the creation of textile hub.Panipat has become the hub of home furnishing. The consumption of the domestic industry is also increasing continuously. As a raw material in textile, only thread is used in the warp. Due to the continuous increase in the demand for yarn, the focus of the mills located in other states has been focused on the market of Panipat. Now the consumption of polyester yarn is also increasing. The consumption of polyester yarn also increased due to the production of mink, polar, 3D sheet in Panipat.Government should promote yarn industryExporter Brijesh Garg, Dinesh Bansal say that the government should come forward to promote the yarn industry. The yarn used in the industries here can be produced in Panipat. The government should set up a mill to make polyester thread. This will give employment to the people of the state. Textile industry will get cheaper yarn.
Sluggish business activity on cotton marketThe local cotton market on Friday remained stable and trading volume remained low. Market sources told that trading activity started in the local cotton market but trading activity will fully resume from Monday.Cotton Analyst Naseem Usman told Business Recorder the rate of cotton in Sindh is in between Rs 12500 Rs 12800 per maund. The rate of cotton in Punjab is in between Rs 13200 to Rs 13500 per maund.The rate of new crop of Phutti in Sindh was in between Rs 4700 to Rs 5400 per 40 kg. The rate of Phutti in Punjab is in between Rs 5200 to Rs 5700 per 40 kg. The rate of Banola in Sindh is in between Rs 1500 to Rs 1700 per maund. The rate of Banola in Punjab is in between Rs 1700 to Rs 1900 per maund. The rate of cotton in Balochistan is Rs 12900-13000 per maund. The rate of Phutti in Balochistan is in between Rs 5200 to RS 5700 per maund.Cotton Cooperation of India has increased the prices by Rs 500 per candy. The Spot Rate remained unchanged at Rs 12700 per maund. The Polyester Fiber was available at Rs 213 per kg.
All India Weather Forecast for July 24, 2021Countrywise weather systemsAn offshore trough is extending from South Gujarat Coast to Kerala Coast.Another Cyclonic Circulation is persisting over Western parts of Uttar Pradesh.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Coastal Odisha, Coastal Karnataka and South Madhya Maharashtra experienced moderate to heavy rain with very heavy rainfall at 1-2 places.Light to moderate rain with isolated heavy falls occurred over the hills of Chhattisgarh, Coastal Andhra Pradesh, Telangana, Vidarbha, Madhya Pradesh, isolated parts of southeast Rajasthan, Uttarakhand and Tamil Nadu.Light to moderate rain occurred over Himachal Pradesh, East Rajasthan, West and Central Uttar Pradesh, West Bengal, Northeast India, Kerala, Andaman and Nicobar Islands and Sikkim.Light rain occurred in West Rajasthan, Jammu and Kashmir, Ladakh, Bihar, Jharkhand, Rayalaseema, Lakshadweep and Tamil Nadu.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain at isolated places over Coastal Karnataka, Konkan & Goa, Gujarat region, Madhya Pradesh, parts of Chhattisgarh, isolated parts of Kerala, some parts of Uttarakhand and South-East Rajasthan. With this there is a possibility of heavy rain at some places.Light to moderate rain with isolated heavy rain is likely over Kutch, Western parts of Rajasthan, Vidarbha, Marathwada, Odisha, West Bengal, parts of Jharkhand, Sikkim and Northeast India.Light to moderate rain is very likely over Himachal Pradesh, Uttar Pradesh, Telangana, Interior Karnataka, Coastal Andhra Pradesh and Andaman and Nicobar Islands. SiS Commited to update you on all textile related news real time.
| title | Created At | Action |
|---|---|---|
| Today evening, the rupee strengthened by 9 paise to close at Rs 74.18 against the dollar. | 05-08-2021 00:24:39 | view |
| Rupee has started with a strong opening today against the dollar. | 04-08-2021 18:52:20 | view |
| In a pathbreaking move, govt removes anti anti-dumping duty on Viscose | 04-08-2021 02:24:12 | view |
| Vietnam factory shut down! | 03-08-2021 18:15:17 | view |
| Noida garment exporters demand ban on export of Indian cotton and yarn | 03-08-2021 01:44:15 | view |
| Cotton Corporation stocks drop down to 9 lakh bales | 31-07-2021 23:40:54 | view |
| Despite a rise in area, cotton yield drops below 500 kg per hectare in India | 31-07-2021 02:17:00 | view |
| Ministry of Textiles | 30-07-2021 03:31:07 | view |
| U.S. EXPORT SALES FOR WEEK ENDING 22/07/2021 | 30-07-2021 03:30:39 | view |
| China cotton lint imports up 146 per cent | 30-07-2021 03:29:47 | view |
| Telangana largest supplier of cotton in country | 30-07-2021 03:29:16 | view |
| Cotton promises to trade above MSP as season starts | 28-07-2021 03:25:19 | view |
| Indian textile exports become noncompetitive as domestic cotton prices increase 6% in July | 27-07-2021 22:46:18 | view |
| Panipat thread is becoming an alternative to jute, does not harm the environment, 15 new units installed. | 25-07-2021 00:04:22 | view |
| Sluggish business activity on cotton market | 25-07-2021 00:03:46 | view |
| All India Weather Forecast for July 24, 2021 | 25-07-2021 00:03:10 | view |
