Recent News

India's cotton export forecast for April 2023 slashed to 1.8 million balesIndian cotton exports for 2022-23 are forecast to decline by 500,000 bales to 1.8 million in April 2023, roughly equal to its import forecast. Exports have historically exceeded imports by a significant margin, and the last time imports exceeded exports was about 20 years ago. Reduced domestic supply, increased demand for overseas long and extra-long staple grades and the Australia-India Economic Cooperation and Trade Agreement (ECTA) have supported this recent dynamic.2022-23 opening stocks and production totals are estimated to be at a 14-year low of 33.1 million bales, putting considerable pressure on exports. Also, according to the United States Department of Agriculture report, Indian spot prices relative to global prices have increased at the beginning of the year due to a tight supply of cotton, slowing shipments to major markets including China.India has recently become the largest consumer of long and extra long staple cotton. As tall and extra tall cotton is not grown adequately in the country. So the Egyptian Giza 94 and the US Pima are imported. Thus India will remain a stable source of import demand for this variety of cotton.Despite being forecast to be the third largest exporter in 2022-23 with 1.8 million bales, exports are projected to be significantly lower than the 6.2 million bales exported in 2021-22. Global ending stocks are estimated to range from 900,000 bales to close to 92.0 million, with an upward projection mostly for China, India and Brazil, the report said.The US balance sheet is comprised of higher exports and lower end stocks than last month. Estimated US season-average farm prices are forecast to be lower by 1 percent to 82 cents per pound. Global cotton prices were mostly down since last month's WASDE, with prices on the Intercontinental Exchange (ICE) at around 83 cents a pound.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Trading-market-slow-pakistan-cotton-usman-naseem-increase-expected-transport

Slow trading in Pakistan's cotton marketThe local cotton market was upbeat on Monday with low trading volume. Cotton analyst Naseem Usman pointed out that unavailability of transport was behind the low trading volumes. It is expected to increase further after the Eid al-Fitr holidays.He also informed that the price of cotton in Sindh ranges 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. Rahim Yar Khan sold for 5600 bales at Rs.21,000 per head (condition) and Marrot (323 bales) at Rs.19,300 per head. The spot rate remained unchanged at Rs 19,700 per head.The rate of polyester fiber was increased by Rs 2 and was available at Rs 375 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Dollor-against-nifty-sensex-rupee-closing-weakens-market-stock

Rupee falls against dollar, breaks 3 paiseToday, the rupee opened at a level of Rs 82.00 against the dollar with a weakness of 3 paise. On the other hand, on Monday, the rupee closed at a level of Rs 81.97 against the dollar with a weakness of 12 paise.

Rupee weakens by 12 paise against dollarThis evening, the rupee closed at a level of 81.97 against the dollar with a weakness of 12 paise.Sensex closed down by 520 pointsToday, where the Sensex closed at a level of 59910.75 points with a fall of about 520.25 points.On the other hand, the Nifty closed at a level of 17706.80 points with a fall of 121.20 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Market-review-pakistan-weekly-cotton-usmna-naseem-rate-spot-kca

Weekly Review of Pakistan Cotton MarketCotton market showed an uptrend during the last week with an improvement in the trading volumes. However, fluctuations were observed in the price of cotton in the international cotton markets. Cotton prices rose from Rs 500 to Rs 1,000 a head in the local cotton market as spinners were interested in buying good quality cotton.Naseem Usman, President of Karachi Cotton Brokers Forum, has said that the rate of cotton in the international cotton markets has remained stable. In Sindh and Punjab, cotton rates range from Rs 18,000 to Rs 21,000 per head, while footy rates range from Rs 6,500 to Rs 8,500 per 40 kg. The spot rate committee of the Karachi Cotton Association has increased the spot rate by Rs 2,00 per head and closed it at Rs 19,700 per head.

This week has been a downfall for cottonThis week, cotton prices declined in both the national and international exchange markets. In the International Cotton Exchange market, the May and December deals declined by 0.34 and 0.44 cents, respectively. While the deal price for the month of July saw an increase of 0.46 cents.On the Multi Commodity Exchange market, the prices for the months of April and June have decreased by Rs.460 and Rs.380 respectively. Cotton prices on NCDX have also declined this week. For the month of April, a decrease of Rs 51 has been registered in the cotton price.This week has been a downfall for Khal as well. On NCDX, for the three months of April, May and June, a decrease of Rs. 81, Rs. 90 and Rs. 102 has been observed respectively.If we look at the exchange market of other countries, this week can be said to be mixed. A 2 point gain on the Cotlook A Index and a gain of 400 points on the KCA spot rate has taken place this week. While the Brazilian Cotton Index and the USDA spot rate saw a decrease of 1.42 and 0.48 respectively.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Chapter-%2052-%20Exports-month-decreased-million-year-cotton-sis

Chapter 52- Exports in the month of March decreased by $ 313 million in 1 year From the point of view of exports, the year 2023 has been a year of decline. Chapter 52, which includes cotton, cotton vest, yarn and denim, has shocking export figures for the month of March. The total export of Chapter 52 in March 2022 was $ 958 million, which came down to just $ 645 million in March 2023. According to the research report of SIS, there is a total decrease of $ 313 million in Chapter 52 exports in March 2022 and March 2023. According to experts, this shortfall in 1 year is huge.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Boom-continues-market-pakistan-cotton-punjab-naseemusman-spot-rate

Pakistan's cotton market continues to boomThe local cotton market was upbeat on Friday and the trading volume 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. Rahim Yar Khan sold for 5600 bales at Rs.21,000 per head (condition) and Marrot (323 bales) at Rs.19,300 per head.The spot rate remained unchanged at Rs 19,700 per head. Polyester fiber was available at Rs 373 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Good-news-increase-cotton-seed-sales-kharif-india-meteorological-department-farmers

Good news : increase in cotton seed sales in Kharif 2023India's cotton production rose to 33.72 million bales (170 kg each) in the 2022-23 crop year (July-June) from 31.12 million bales a year ago, according to agriculture ministry data.The seed industry is buoyed by the prospect of a good year in the cotton sector on the back of higher fiber prices that farmers received last year from a normal monsoon predicted by the India Meteorological Department (IMD). said Ram Kaundinya, director general of the Federation of Seed Industry of India (FSII). The demand for cotton seed is likely to increase to 48 to 49 million packets (450 grams each) in the current season from 42 million last year.Since three packets of cotton seed are required in two acres of land, the sale of 4.9 crore packets (equivalent to 2.2 lakh quintals) could be sufficient to cover 13 million hectares (MH). Last year the area under cotton was 12.75 MH. Industry experts said that if seeds saved by farmers are added to the coverage in the upcoming Kharif season, the area can increase by a minimum of 10 per cent.The IMD has predicted 96 per cent of normal monsoon rainfall of the long period average of 87 cm in 2023 and ruled out any disruption in rainfall due to the possible emergence of El Nino. Kaundinya said that for the propagation of High Density Planting System (HDPS), 10 packets would be required for every two acres of land. “It is in pilot stage and some target has been set to cover in the coming Kharif,” he added.farmer hopesThis season, farmers are gradually selling their produce in the hope of better prices. Their hopes stemmed from record prices for cotton (raw cotton) at ₹12,000 per quintal last season. Currently, cotton is fetching around Rs 8,000 against the minimum support price of Rs 16,080 in Agricultural Produce Marketing Committee (APMC) yards in Gujarat. Processed cotton or lint prices for the benchmark Shankar-6 variety are currently quoted at ₹762,550 per candy (356 kg).  India's cotton production rose to 33.72 million bales (170 kg each) in the 2022-23 crop year (July-June) from 31.12 million bales a year ago, according to agriculture ministry data. 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).👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/India%27s-cotton-exports-imports-usda-expected-cotton-association-india-production-economic

India's cotton exports fall, exports equal to imports for the first time in years: USDAIndia's cotton exports are expected to decline sharply for 2022-23. The USDA projects a decline in Indian exports from 500,000 bales to 1.8 million in 2022-23, roughly equal to its import forecast. "Low domestic supplies, increased demand for overseas long and extra-long staple grades and the Australia-India Economic Cooperation and Trade Agreement (ECTA) have supported this recent momentum," the USDA said.The Cotton Association of India (CAI) said in March that Indian stocks could fall to a nearly two-decade low in 2022-23 as adverse weather reduced crop yields. "Supply will fall further in the coming months. Exports will not pick up till the new season harvest starts from October." The USDA said that although India was projected to be the third largest exporter globally, at around 1.8 million bales in 2022-23, it was still far below the 6.2 million bales during 2021-22.The CAI had said that lower Indian production could allow rivals such as the US, Brazil and Australia to increase cargoes to major Asian buyers such as China and Pakistan, while pushing up local and global prices. "Supply will fall further in the coming months. Exports will not pick up till the new season harvest starts from October." The CAI had said that lower Indian production could allow rivals such as the US, Brazil and Australia to increase cargoes to major Asian buyers such as China and Pakistan, while pushing up local and global prices.The USDA said that although India was projected to be the third largest exporter globally, at around 1.8 million bales in 2022-23, it was still far below the 6.2 million bales during 2021-22. “If India increases imports and we see higher demand, ICE cotton prices could go up. But demand has been slow due to economic conditions.” Global benchmark US cotton futures posted a third consecutive monthly decline and are down more than 1% so far this year on demand concerns.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Cotton-prices-candy-cotton-association-india-exports-india-atul-ganatra-despite-mills

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