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All India Weather Forecast for March 24, 2022Weather systems made across the countryThe depression remains over the coastal areas of Myanmar. It will continue to move in a north-easterly direction and may soon turn into a deep low pressure area.A trough is extending from North Chhattisgarh to Telangana.A fresh Western Disturbance will approach the Western Himalayas today, March 23.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain occurred over parts of Karnataka, Interior Tamil Nadu and Kerala.Light rain occurred in parts of Sub-Himalayan West Bengal, Sikkim, Assam and Andaman and Nicobar Islands.Heat wave conditions were observed in one or two parts of West Madhya Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain and thundershowers are very likely to occur over Kerala, Interior Tamil Nadu and parts of Karnataka.Light rain is possible over Andaman and Nicobar Islands, Sikkim, Assam and Arunachal Pradesh.Scattered light rain is possible over Andhra Pradesh.Light to moderate rain with snow may occur over Gilgit-Baltistan, Muzaffarabad and upper parts of Jammu and Kashmir.

Bangladesh: Cotton price rise impacts RMG exportsCotton prices in the global market hit a high of over a decade in the wake of the Russo-Ukraine war, unusual increase in freight and drought in the US, which will increase the production cost for readymade garment (RMG) manufacturers in Bangladesh. Which is affecting their profitability.Even before the Russian-Ukraine war, the price of major textile raw materials had risen to increased demand in the international market, following the reopening of economies following the pandemic-led lockdown.Due to drought in some cotton-growing regions in the US, rising petroleum prices in global markets and high-volume purchases of cotton by China raised the price of white fiber by up to 9.09 percent last month.As a result, the cost of production for textile manufacturers and exporters will further increase as Bangladesh is completely dependent on imported cotton to feed its main export income zone.Local producers can supply less than 2 per cent of the 9 million bales of cotton consumed annually in the country, forcing the country to spend nearly $3 billion on raw material imports for the growing garment industry. Some 480 pounds, or 218 kilograms, form a bale.Importers and mill owners say that if the war continues, the price of cotton will rise further. This will eventually increase the price of the yarn in local markets, increasing the cost of production for garment manufacturing."Sometimes, spinners have increased the price by $1 per kg in recent months. "Mustafizur Rahman, distinguished fellow at the Centre for Policy Dialogue, says the high price of cotton will affect the profits of textile exporters.International retailers and brands in the apparel business at large are not bearing the extra cost of production. He said that local exporters are bearing the burden of this.Cotton prices rose 51% year-on-year in February. Rahman said the price of white fibre has increased further and this means further pressure on the profits of garment exporters.The fresh cotton price hike is expected to impact exports of garment goods from Bangladesh at a time when the industry is recovering from the dire repercussions of COVID-19.

Difficult times ahead for the country's textile millsMill operators are facing huge losses due to limited availability of cotton and skyrocketing prices. This is the reason why Tamil Nadu Mills Association has decided to keep the mill completely closed for one day in a week. Based on the rising price of cotton and this decision taken by Tamil Nadu Mills, SIS sought to know what mills in other states are thinking about this.Let us know the opinion of the mill operators of different states on the present scenario-Situation may change in Madhya Pradesh after 1 monthRajendra Sharma, General Manager, Maral Overseas, said that all the mills of the country are in trouble due to the problem of increasing cotton rates and decreasing arrivals. But Madhya Pradesh is a cotton growing state, due to which there is not so much shortage of cotton right now that any decision like shutting down the mill should be taken immediately, but after a month such a situation may also arise. Tamil Nadu had to take this decision from now on because they have to bring cotton from other states, whose transportation cost is very high.Problem is also coming in RajasthanVikas Jain of Kanchan India Limited of Bhilwara Rajasthan says that the problem is also coming a lot in Rajasthan. But all the mills have as much stock as about 2 months, due to which there is no such possibility as of now. In the south, this step had to be taken early because the mills there work more on fine quality, whose arrival has already reduced. In Rajasthan, work is done on medium quality, whose stock for few months is present with the mills.Decision can be taken soon in Gujarat tooHiteshbhai of Ramkrishna Cotspin Gujarat said that the cotton prices have reached 85 thousand, the situation is that the mills are incurring a loss of 25 to 30 rupees per kg. The Gujarat Spinning Association has called a meeting of spinners on the coming Sunday. There is a possibility that like Tamil Nadu, a tough decision like keeping the mills closed for one day in Gujarat will be taken.The situation in Maharashtra is also dire.Mukesh Sharma, Assistant Manager, NSL Cotton Corporation, Aurangabad said that seeing the rapid rate at which the rates are touching the sky on MCX, it seems that the coming time is going to be very difficult for the mills. Now if the government reduces the import duty, then only there can be some hope. Even if the rate of yarn increases in comparison to the rate of cotton, there may be some support, but at present the situation is very dire.

Today evening the rupee depreciated by 13 paise to close at Rs 76.30 against the dollar.Today the stock market closed with a fall.Today, where the Sensex fell by about 304.48 points, closed at the level of 57684.82 points. On the other hand, Nifty closed at the level of 17245.70 points down by 69.80 points.   

AlertIn order to tide-over the present cotton situation and also by considering  the slackness in yarn movements, coupled with the aspects of Non-availability of cotton and on high rocketing prices of cotton, major Group Mills in TN have decided to: 1. Declare one full day as a complete weekly holiday.2. To reduce the speed of all machines resulting in lower production to the extent of 70-80%.3.Not to run the mills with DG Sets' power during load shedding periods.4. During Peak hours,to run only Spinning Frames and Humidifation Plants.These measures are required to control the supply and to manage the situation with the available cotton and to sustain the situation, at least for a few weeks to avoid complete closures..In Yesterday's CAB Meeting, nothing moved positively, either to control cotton prices or to allow duty free imports of cotton.Situation started moving from bad to worse.

Rupee opens 19 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 19 paise at Rs 75.99 against the dollar. At the same time, on Tuesday, the rupee closed at Rs 76.18 with a weakness of 6 paise against the dollar.

Sensex rises further, opens up 396 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 395.85 points to open at the level of 58385.15 points. On the other hand, the Nifty of NSE opened with a gain of 122.90 points at the level of 17438.40 points.

All India Weather Forecast for March 23, 2022Weather systems made across the countryThere is a deep pressure in Andaman Sea and adjoining areas. It is very likely to intensify into a cyclone by afternoon/evening of March 21 and move northwards towards north Myanmar coast.The Western Disturbance remains as a cyclonic circulation over North and adjoining Central Pakistan.The Induced Cyclonic Circulation lies over West Rajasthan and adjoining Central Pakistan.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain occurred over parts of Interior Tamil Nadu and Coastal Karnataka with heavy to very heavy falls at few places.Light to moderate rain occurred over Andaman and Nicobar Islands, Sub-Himalayan West Bengal and Sikkim.Isolated light rain occurred over Coastal Andhra Pradesh and Arunachal Pradesh.Heat wave conditions are prevailing over parts of Himachal Pradesh, Uttarakhand, West Rajasthan and West Madhya Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain and thundershowers are very likely to occur over Tamil Nadu, Kerala, parts of Karnataka, Andhra Pradesh and isolated parts of Telangana and South Maharashtra.Light to moderate rain may occur over Arunachal Pradesh.Light rain and snow may occur in parts of Jammu and Kashmir, Gilgit-Baltistan and Muzaffarabad on March 23 and 24.

Rupee collapses against dollar, opens weak by 32 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 32 paise at Rs 76.44 against the dollar. At the same time, on Monday, the rupee closed at Rs 76.12 with a weakness of 32 paise against the dollar.

Sensex collapses as soon as it opens, registers a fall of 124 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by about 124.10 points and opened at the level of 57168.39 points. On the other hand, the Nifty of NSE opened with a decline of 24.30 points at the level of 17093.30 points.

Today evening, the rupee depreciated by 32 paise to close at Rs 76.12 against the dollar.Sensex closed down by 571 pointsToday the stock market closed with a fall. Today, where the Sensex closed at the level of 57292.49, down by about 571.44 points. On the other hand, Nifty closed at 17117.60 points down by 169.40 points.