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Spinners cut cotton purchases by 15%Ahmedabad: Yarn manufacturers have cut cotton procurement due to rising prices of their original raw materials. Cotton prices have surged 12.5 per cent in nearly 40 days to a record high of Rs 90,000 per candy. According to estimates by the All Gujarat Spinners Association (AGSA), spinning units (yarn manufacturers) have cut purchases by at least 15%."The increase in cotton prices is driving up the production cost of spinners. For pre-negotiation, yarn makers are forced to take a hit. With cotton prices rising steadily, the spinning units have no option but to reduce production. Most units have cut production by at least 15%," said Bharat Bogra, President, AGSA.According to AGSA estimates, there are around 110 spinning units in Gujarat, apart from corporate houses, which have in-house spinning capacity, with a combined installed capacity of 45 lakh spindles."At the recent meeting of representatives of spinning units from all over Gujarat, the members decided to cut production by about 15% and thus the procurement of cotton was reduced from 6.2 lakh bales to 5.3 lakh bales. This is mainly to reduce the cost pressure on yarn manufacturers, as the receipts are not in line with the increase in cotton prices," said Sourin Parikh, president of AGSA.The price rise in the textile value chain due to the cost of cotton- spinning units, weaving units, fabric processors and garment manufacturers has jumped. Industry stakeholders predict that rising cotton prices will hamper exports of readymade garments.To further reduce the cost pressure, members of AGSA are also considering serious measures like stopping production one day a week and stopping the purchase of cotton as a protest.The AGSA members had requested the government to cancel the 10% basic customs duty on cotton imports."We are also demanding a temporary ban on the trading of cotton on Indian multi-commodity exchanges, as hedging by speculators in cotton is causing artificial price rise. We also want the government to impose temporary restrictions on cotton exports, so that the price pressure is reduced," Parikh said.The yarn manufacturers are currently facing a loss of Rs 40 per kg of manufactured yarn.A yarn maker said, "We are not able to put costs on buyers as raising prices will be detrimental to demand, at a time when consumers are also facing inflationary pressures.

Rupee opens 33 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a gain of 33 paise at Rs 75.66 against the dollar. At the same time, on Tuesday, the rupee closed at Rs 75.98 with a gain of 17 paise against the dollar.

Sensex rises further, opens up 322 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 321.65 points to open at the level of 58265.30 points. On the other hand, the Nifty of NSE opened with a gain of 86.00 points at the level of 17411.30 points.

All India Weather Forecast for March 30, 2022Weather systems made across the countryA Cyclonic Circulation lies over North Pakistan and adjoining areas.Whereas, another cyclonic circulation can be seen over North Bangladesh.At lower levels, a trough is extending from Vidarbha to Kerala passing through Interior Karnataka.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over Kerala and Lakshadweep.Light to moderate rain occurred over Northeast India, Sikkim and Sub-Himalayan West Bengal.Heat wave conditions were observed over many parts of West Rajasthan and parts of East Rajasthan. Heat wave conditions prevailed over many parts of Himachal Pradesh, parts of Saurashtra and Kutch and at one or two places over Jammu region, Uttarakhand and West Madhya Pradesh.Heat wave conditions are prevailing in parts of Jammu division of Himachal Pradesh, Gujarat and West Madhya Pradesh.Weather activity likely during next 24 hoursDuring next 24 to 48 hours, heat wave conditions to severe heat wave conditions are possible over West Rajasthan and thereafter heat wave conditions may continue till April 2.Heat wave conditions are possible over Jammu region, parts of Himachal Pradesh, South Haryana, Delhi, Saurashtra and Kutch, East Rajasthan, West Madhya Pradesh and Vidarbha as well as parts of North Madhya Maharashtra and Marathwada till March 31.Heat wave conditions are possible over South Uttar Pradesh, parts of Jharkhand and Interior Odisha between March 30 and April 2.Light to moderate rain with isolated heavy falls is possible over Kerala and Lakshadweep.Light to moderate rain is possible over South Coastal Karnataka, parts of Andaman and Nicobar Islands and Northeast India.Light rain is possible over Interior Tamil Nadu and Sub-Himalayan West Bengal.The intensity of rain and thundershowers is likely to increase over Northeast India from March 31 and continue for the next 3 to 4 days. During this, strong winds at a speed of 40 to 50 kmph can also move in North India.

*SMARTINFO**उडिसा में 30 प्रतिशत तक बढ़ सकता है कपास का रकबा**कॉटन एसोसिएशन ऑफ उडिसा के सेक्रेट्री अरूण अग्रवाल से SIS की खास बातचीत**रक्षा भगत जैन* कपास का सीजन अपने अंतिम दौर में है लेकिन कपास के भाव नित नई ऊंचाईयों को छू रहे है। उडिसा की बात करें तो पिछले एक सप्ताह में यहां कॉटन कीमतों का ग्राफ तेजी से बढ़ा है। शनिवार से मंगलवार के बीच महज 2 दिन में हुई 2 हजार रूपए की बढ़ोतरी लोगों को चौंका रही है। कॉटन के भाव में आई इस ऐतिहासिक तेजी का कारण और असर जानने के लिए SIS की टीम ने उडिसा कॉटन एसोसिएशन के सेक्रेट्री अरूण अग्रवाल से खास चर्चा की। पढिए उनकी बात उन्हीं के शब्दों में-*सवाल- गत सप्ताह में उडिसा में कॉटन रेट का ग्राफ तेजी से ऊपर गया है। इस तेजी का कारण क्या है और इसका असर क्या होगा?**जवाब-*  कॉटन के रेट केवल उडिसा में ही नहीं बल्कि देश् में सभी जगह तेजी से बढ़े है। उडिसा में देश की बेहतरीन क्वालिटी का कॉटन पाया जाता है। पिछले एक सप्ताह में रेट बढ़ने की बात है तो यह रेट 31 एमएम कॉटन के है। फिलहाल उडिसा में 31 एमएम कॉटन लगभग ना के बराबर है। गिने- चुने किसानों के पास कुछ 5000 से 10,000 गांठों के बीच का माल बचा है, इसी को वे मनचाहे दामों में बेच रहे है। प्राइज बढ़ने का कारण पूरे देश में एक ही है आवक कम होना और इसका असर है किसानों के बीच कपास की खेती का आकर्षण बढ़ना। *सवाल- इस साल उडिसा में कॉटन का क्रॉप साइज क्या रहा है और आने वाले समय में क्या रहने की उम्मीद है?**जवाब-* इस साल हमारे यहां पर 5 लाख एकड़ जमीन पर कपास की खेती की गई थी, जिससे 4 से 4.5 लाख क्रॉप आने की उम्मीद थी, लेकिन मौसमी कारणों की वजह से 3.5 लाख बेल्स की क्रॉप ही आ पाई। इस बार जिस तरह से कॉटन कीमतों में तेजी आई है उससे किसान काफी खुश है यही वजह है कि अपकमिंग सीजन में कपास रकबा बढ़ने की उम्मीद है। उडिसा में 30 से 35 प्रतिशत तक कपास रकबा बढ़ने की संभावना है। और अच्छी क्वालिटी के कपास के भाव भी आने वाले समय में और बढ़ने की उम्मीद है। *सवाल- उडिसा में कॉटन की बुआई कब होती है और फसल कब तैयार हो जाती है?**जवाब-* दूसरे राज्यों की तुलना में उडिसा में कॉटन सीजन थोड़ा देरी से शुरु होता है। हमारे यहां बोवनी जून- जुलाई में होती है और फसल नवम्बर में तैयार हो जाती है। फसल के लिए हम पूरी तरह से बारिश पर निर्भर रहते है क्योंकि इरीगेशन सिस्टम हमारे यहां केवल 2 से 5 प्रतिशत ही है।  अच्छी बात यह है कि उडिसा में शुरुआत से आखिर तक एक ही क्वालिटी का कॉटन आता है। *सवाल- उडिसा से कॉटन के प्रमुख उपभोक्ता कौन है, क्या यहां का कॉटन एक्सपोर्ट भी किया जाता है, यदि हां तो कहां और कितना?**जवाब-* हमारे यहां जितनी भी क्रॉप आती है उसका मेजर पार्ट एक्स्पोर्ट हो जाता है। बंग्लादेश हमारा प्रमुख उपभोक्ता देश है। उन्हें बेहतर क्वालिटी के कॉटन की आवश्यकता होती है और इसके लिए वे प्रीमियम रेट देने को भी तैयार रहते है। इस साल पहली बार ऐसा हुआ है कि क्रॉप का 40 से 50 प्रतिशत कपास नागपुर ने ले लिया। हमारे यहां केवल 1.9 लाख बेल्स की प्रेसिंग हुई और उसका लगभग 95 प्रतिशत माल बंग्लादेश को एक्सपोर्ट कर दिया गया। *सवाल-  कॉटन की बढ़ती कीमतों की वजह से क्या किसानों ने अभी भी स्टॉक होल्ड कर रखा है?**जवाब-* जैसे-जैसे सीजन अपने अंतिम दौर में आ रहा है यह स्पष्ट होता जा रहा है कि इस साल आवक ही कम हुई है। किसानों ने स्टॉक् होल्ड कर रखा है यह केवल एक अफवाह है। वर्तमान में भारत में 95 हजार से 1लाख गांठ कॉटन का रोजाना कंजम्पशन होता है जबकि अभी रोजाना की आवक महज 40 हजार गांठ ही है। मिल्स के पास कुछ स्टॉक जरूर इकटठा है लेकिन आने वाला समय मिल्स के लिए मुश्किल भरा है।*Cotton area may increase by 30 percent in Odisha**SIS had an exclusive conversation with Arun Agarwal, Secretary, Cotton Association of Odisha byRaksha Bhagat Jain**Cotton season is in its last phase but cotton prices are touching all time heights . Talking about Odisha, the graph of cotton prices has increased rapidly in the last one week. The increase of 2 thousand rupees in just 2 days is surprising the people. To know the reason and effect of this historic rise in cotton prices, the SIS team had a special discussion with the secretary of the Odisha Cotton Association, Arun Agarwal. Read his insight view on current market scenario**Question- The graph of cotton rate in Odisha has gone up sharply from last few weeks. What is the reason for this increase and what will be its effect?*Answer- The rate of cotton has increased rapidly not only in Odisha but everywhere else in the country. The best quality cotton is found in Odisha and if we speak about increased rate from last one week, then the rate of 31 mm cotton spurt the most. At present, 31 mm cotton is almost out of stock in Odisha. A few farmers are left with some 5000 to 10,000 bales of kapas, which they are selling at the desired price. The reason for increasing the price is the same in the whole country, the arrival is less and its effect is increasing the attraction of cotton cultivation among the farmers.*Question- What has been the crop size of cotton in Odisha this year and what is expected to be there in the coming times?*Answer- This year we had cotton cultivation on 5 lakh acres of land, which was expected to yield 4 to 4.5 lakh bale crops, but due to seasonal reasons, only 3.5 lakh bales crop could come up. Farmers are very happy with the way cotton prices have increased this time, which is why cotton acreage is expected to increase in the coming season. In Odisha, cotton acreage is expected to increase by 30 to 35 percent. And the price of good quality cotton is also expected to increase further in the coming time.Question- When is cotton sown in Odisha and when is the crop ready?Answer- Cotton season starts a little late in Odisha as compared to other states. Sowing takes place in June-July and the crop is ready by November. We are completely dependent on rain for the crop because we have only 2 to 5 percent of the irrigation system. The good thing is that Odisha comes with almost high quality cotton from beginning to the end of season.Question- Who is the main consumer of cotton from Odisha, whether cotton exported from here , if yes, where and how much?Answer- Major part of the crop that comes to us gets exported. Bangladesh is our major consumer country. They require better quality cotton and for this they are ready to pay premium rates. For the first time this year, Nagpur has taken 40 to 50 percent of the crop. We have pressed only 1.9 lakh bales and about 95 percent of the goods have been exported to Bangladesh.Question- Are the farmers still holding stock due to rising cotton prices?Answer- As the season is approaching to its final phase, it is becoming clear that this year the yeid isless. The farmers have kept the stock, it is only a rumour. At present, India consumes 95 thousand to 1 lakh bales of cotton daily, whereas at present the daily arrival is only 40 thousand bales. There is definitely some stock accumulated with the mills but the situation in the future is not clear yet.

Sensex continues to rise, closes up by 350 pointsToday the stock market closed sharply. Today, where the Sensex closed at the level of 57943.65 with a gain of about 350.16 points. On the other hand, Nifty closed at 17325.30 with a gain of 103.30 points.Today evening, the rupee strengthened by 17 paise to close at Rs 75.98 against the dollar.

China : Why does cotton yarn market stay calm to the surge of cotton ?ICE cotton futures have moved up high since mid-Mar and the lead contracts broke through 140cents/lb on Mar 28 with an increase about 20%. Accordingly, ZCE cotton futures increased and May contracts rose about 1,000yuan/mt with an increase of 5% from mid-Mar. However, cotton yarn market stays calm to the surge of cotton. Since mid-Mar, cotton yarn price has walked on its own way and less depended on cotton price. Instead, downstream orders and demand attract the market's attention.1. Poor downstream demand weakens cotton yarn price.Traditional peak season, Golden Mar and Silver Apr, failed to come this year and overall trading sentiment on cotton yarn market stayed bearish from the very beginning of Mar. As time passed, the market gradually lost its patience and confidence, and additionally, the outbreaks of Covid-19 pandemic in China forced some downstream fabric mills to suspend production, and also hindered the transportation. the market does not care much about the rise of cotton price now. Previously, the surge of cotton price always induced improved buying interest and cotton yarn sales. However, the market is quiet at this time. Intuitively, spot cotton price does not spike as cotton futures and cotton yarn price remains weak with some underselling heard sometimes.2. Cotton yarn mills are more strongly expected to cut production after the rise of cotton priceMany cotton yarn mills started to cut production from Mar amid the continuous depression and great losses. Along with the rise of cotton price, more mills intend to suspend production as the losses intensify. Some small mills said that they would suspend production and take holiday when the cotton stocks in hands were used up and some medium and large mills also plan to reduce production. So in Apr, increasing production curtailment will be seen. 3. Market participants are not optimistic to the continuity of cotton riseThe major reason that cotton yarn did not follow cotton to move up is lack of downstream orders and difficult sales, so the market participants are not optimistic to the continuity of cotton rise. In addition, this round of cotton rise is partly based on corners and squeezes on ICE cotton futures, which is thought to be short, and it will return to market fundamentals later. As a result, the purchasing and stocking up are scarce, hard to support cotton yarn market.As a whole, cotton yarn market now more depends on downstream demand rather than upstream motivation.

Cotton turns white gold as demand ups rates to nearly Rs 12,000Cotton farmers in Yavatmal are overjoyed due to the ever-growing escalation in the price which is really white gold for those who cultivated the crop this year. The current market price of cotton per quintal touched Rs 11,800 on Saturday which is historic. It is for the first time that cotton has been sold at such a high price.In the past, the price was below Rs 7,000 per quintal. The price of cotton in December last year was Rs 6,000. However, due to the global demand , the price started moving upward.Major cotton-producing countries like China and USA experienced less production after which the textile industries started buying cotton from India. The price of cotton has increased by Rs1,500 per quintal in the last fortnight.Now, private traders have started knocking at the farmers’ doors in search of cotton and according to sources, they are offering Rs 11,000 per quintal on the spot.The price will further go upward and those who stored cotton would definitely gain. Even cotton bales are getting a good price (Rs 90,000, earlier Rs 70,000).Cotton seeds are now sold at Rs 4,800, the earlier price was Rs 4,200 per quintal. “It’s an unprecedented rate and those who have cotton at their disposal are going to get the rewards,” said farmer Avinash Deshmukh.According to Deshmukh, needy farmers take loans from private money lenders for which they mortgage the cotton crop. Insurance companies are also set to gain as cotton growers won’t claim losses. Experts are expecting the price to go up to between Rs 13,000-15,000 per quintal this year.

Rupee opens 19 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 19 paise at Rs 75.97 against the dollar. At the same time, on Monday, the rupee closed at Rs 76.16 with a strength of 4 paise against the dollar.

Sensex rises further, opens up 234 pointsToday the stock market opened with great momentum. Today, the BSE Sensex opened with a gain of 233.96 points at the level of 57827.45 points. On the other hand, the Nifty of NSE opened with a gain of 66.80 points at the level of 17288.80 points.

All India Weather Forecast for March 29, 2022Weather systems made across the countryA trough is extending from Chhattisgarh to Interior Tamil Nadu across Telangana and Interior Karnataka.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Kerala received light to moderate rain with isolated heavy falls at one or two places.Light to moderate rain occurred over Northeast India and Sub-Himalayan West Bengal.Light rain was observed over parts of North Interior Karnataka and Telangana.From heat wave to severe heat wave was seen in western Rajasthan.Heat wave conditions are prevailing in parts of Jammu division of Himachal Pradesh, Gujarat and West Madhya Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls very likely over Kerala and Lakshadweep.Light to moderate rain is possible over Northeast India and Sub-Himalayan West Bengal.Heat wave to severe heat wave conditions are possible over South and West West Rajasthan.Heat wave conditions are likely over parts of Jammu division of Himachal Pradesh, Gujarat and West Madhya Pradesh.