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All India Weather Forecast for September 18, 2021Weather systems made across the countryThe Monsoon trough passing through the center of cyclonic circulation associated with Bikaner, Jaipur, Low Pressure Area is moving southeastwards towards East Central Bay of Bengal via Pendra Road, Bhubaneswar.A trough is extending from Northeast Arabian Sea to a cyclonic circulation associated with Low Pressure Area passing through Gujarat, South Rajasthan and West Madhya Pradesh.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls at isolated places over parts of Uttar Pradesh, North and West Madhya Pradesh, Andaman & Nicobar Islands, one or two parts of Gujarat, South Coastal Andhra Pradesh and Himachal Pradesh Hui. Light rain occurred at isolated places over Northeast Rajasthan, Konkan & Goa, Coastal Karnataka, Lakshadweep, Coastal Andhra Pradesh and Telangana.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls at isolated places is likely over East Uttar Pradesh, parts of Arunachal Pradesh, Meghalaya, Nagaland and eastern parts of Assam as well as Andaman and Nicobar Islands. Is. Light to moderate rain is possible over Northeast India, Bihar, Jharkhand, Rest of Uttar Pradesh, Chhattisgarh, Madhya Pradesh, East Rajasthan, Gujarat and Uttarakhand.Light rain is possible at isolated places over Himachal Pradesh, Jammu and Kashmir, parts of Odisha, Konkan & Goa, Coastal Karnataka, Kerala, Andhra Pradesh, Telangana and Tamil Nadu.

Today evening the rupee strengthened by 4 paise to close at Rs 73.48 against the dollar.Sensex fell, closed down 125 pointsToday the stock market closed with a fall. Today, where the Sensex closed at a level of 59015.89 points, down 125.27 points. On the other hand, Nifty closed at the level of 17585.20 points down by 44.30 points.  

Container prices soar as shortage hits exportersAverage prices up 18% and 37% for 20- and 40-ft boxes The average prices of containers rose by 18 per cent and 37 per cent for 20-foot and 40-foot dry containers (DC), respectively, at Indian ports between May and September, adding to the overheated container freight rates that has roiled India’s export-import (EXIM) trade.Hamburg-based Container xChange says that the continued surge in container prices and growing imbalance of container availability in India is negatively impacting and leading to supply chain slowdown, a problem which will continue to grow up until 2022 and beyond.Container xChange is an online platform that brings together all stakeholders of the container logistics industry to buy, sell and lease shipping containers.Data trends and analysis by the firm on the impact of global supply chain disruption on the Indian container logistics market indicates that there is further rise in the historically high prices of 20 - foot and 40-foot dry containers at Nhava Sheva, Mundra and Chennai ports.Rise in pricesCompared to May, in September, prices for 20-foot dry containers rose by 18 per cent while the prices for 40-foot containers increased by 37 per cent, according to the online platform.The average price of a 20-foot dry container in September is $2,462 (₹1,81,320.15), up from $2,078 in May. The pre-pandemic price was about $1,000 for 20-foot dry container and $2,000 for 40-foot dry container.The average price of a 40 - foot dry high cube container is $ 4,193.75 (₹ 3,08,859.20), a 37 per cent increase over the price in May which was $ 3,041.84 (₹ 2,24,023.91).The Container Availability Index (CAx) by Container xChange, a tool used to monitor inbound and outbound volumes of containers for ports globally, indicates that the inbound containers are at an all-time high since 2019 by about 4 times at Chennai port (and similarly other ports in India), indicating an all-time high imbalance of inbound and outbound containers at the port.“The growing imbalance of inbound and outbound containers being experienced in the Container Availability Index (CAx) at major Indian ports (including Nhava Sheva, Mundra and Chennai) is an indication of two key market conditions – exports are being impacted immensely (inspite of a record month in July for India’s exports) and imbalance of inbound containers over outbound containers is getting worse by the week,” Christian Roeloffs, CEO and Co-founder, Container xChange told BusinessLine.“The CAx values at major Indian ports are rising because exporters are facing hurdles to export their goods from India. The rising container freight and spot costs over the past months, containers stuck in other locations which delays their cargo and vessel capacity issues are some pain points,” said Johannes Schlingmeier, Co-founder and CEO, Container xChange.The costs have been skyrocketing since the beginning of the year 2021 and continue to soar higher every week. Therefore, the number of containers that could have taken off from India to its destination has slowed down, mirroring a trend observed in the global supply chain slow down, he added.

Rupee opens 6 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 6 paise at Rs 73.43 against the dollar. At the same time, the rupee on Thursday closed at Rs 73.49 with a gain of 19 paise against the dollar.Sensex opened at record high with a gain of 337 pointsToday the stock market opened with a record high. Today the BSE Sensex rose by about 337.44 points to open at a record level of 59478.60 points. On the other hand, the Nifty of NSE opened with a gain of 95.20 points at a record level of 17724.70 points.  

PAKISTAN COTTON MARKET UPDATESpot recovers slightly in process of sizeable activityThe Spot Rate Committee of the Karachi Cotton Association on Thursday increased the spot rate by Rs 50 per maund and closed at Rs 13250 per maund.The local cotton market remained stable and the volume remained satisfactory.The Spot Rate Committee of the Karachi Cotton Association on Thursday increased the spot rate by Rs 50 per maund and closed it at Rs 13250 per maund. The polyester fiber was available at Rs 222 per kg.The rate of cotton in Sindh is in between Rs 12400 to Rs 12500 per maund and the rate of cotton in Punjab is in between Rs 13300 to Rs 13500 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 5800 per 40 kg. The rate of Phutti in Punjab is in between Rs 5000 to Rs 5800 per 40 kg. The rate of Banola in Sindh is in between Rs 1650 to Rs 1750 per maund. The rate of Banola in Punjab is in between Rs 1650 to Rs 1800 per maund. The rate of cotton in Balochistan is in between Rs 13100- 13200 per maund. The rate of Phutti in Balochistan is Rs 6000- 6800 per maund.

ICE COTTON SUMMARYCotton slips as stronger dollar offset higher exportsICE cotton futures fell for a second straight session on Thursday, as a firmer U.S. dollar overshadowed a weekly federal report showing higher export sales.“The exports report was pretty good, especially with more sales to China, but a stronger dollar index is not helping,” said Jim Nunn, owner of Tennessee-based cotton brokerage Nunn Cotton.The dollar rose 0.5% against key rivals, helped by upbeat U.S. retail sales data. A stronger dollar makes greenback-denominated cotton costlier for buyers holding other currencies.The U.S. Department of Agriculture’s weekly export sales report showed exports of 237,500 running bales (RB) of cotton, up 53% from the previous week, with increases primarily for China, Pakistan and Vietnam.“U.S. harvest pressure is imminent and, in the absence of significant tropical activity, should move lower over the near- to medium-term,” Louis Rose, director of research and analytics at Tennessee-based Rose Commodity Group, said in a note.“The December contract should experience resistance near 95 - 96 cents and then near 97 cents and support near 89 - 90 cents and 85 - 86 cents over the near-to-medium term.”Total futures market volume fell by 1,835 to 10,952 lots. Data showed total open interest gained 194 to 273,386 contracts in the previous session.Certificated cotton stocks deliverable as of Sept. 13 totalled 64,455 480-lb bales, unchanged from 64,455 in the previous session. SiS Commited to update you on all textile related news real time.

All India Weather Forecast for September 17, 2021Weather systems made across the countryA low pressure area is persisting over central parts of North Madhya Pradesh.A Cyclonic Circulation is persisting over Southern parts of Gujarat. A trough is passing through a cyclonic circulation over Gujarat to Gangetic West Bengal, over central parts of North Madhya Pradesh.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Andaman and Nicobar Islands experienced moderate to heavy rain with very heavy rainfall at a few places. Light to moderate rain occurred in some parts of East and Central Uttar Pradesh, parts of Madhya Pradesh, Chhattisgarh and parts of Kerala and Gangetic West Bengal. Light to moderate rain occurred over Assam, Meghalaya, Arunachal Pradesh, Gangetic West Bengal, parts of Bihar, Jharkhand, North Odisha, parts of Tamil Nadu, Lakshadweep, Himachal Pradesh and parts of East Gujarat and Southeast Rajasthan.Light rain occurred at isolated places over Jammu and Kashmir, Uttarakhand, parts of Delhi and NCR, Saurashtra, Kutch, Konkan and Goa, Coastal Karnataka, South Interior Karnataka and Telangana and Sub-Himalayan West Bengal.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain at a few places with isolated heavy falls very likely over parts of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Andaman & Nicobar Islands.Light to moderate rain is possible over Madhya Pradesh, East Gujarat, parts of Jharkhand, Delhi NCR and isolated parts of Himachal Pradesh. Light rain is possible over Gangetic West Bengal, Odisha, Saurashtra and Kutch, Southeast Rajasthan, Konkan and Goa, Coastal Karnataka, Kerala, South Interior Karnataka, Lakshadweep and Tamil Nadu.

U.S. EXPORT SALES FOR WEEK ENDING 09/09/2021Cotton:  Net sales of 284,800 RB for 2021/2022 were down 37 percent from the previous week, but up 9 percent from the prior 4-week average.  Increases were primarily for China (183,900 RB), Pakistan (33,800 RB), Turkey (17,600 RB), Peru (12,300 RB), and Vietnam (10,100 RB, including 1,300 RB switched from Japan).  Exports of 237,500 RB were up 53 percent from the previous week and 27 percent from the prior 4-week average.  The destinations were primarily to China (86,600 RB), Pakistan (39,200 RB), Vietnam (35,600 RB), Bangladesh (25,000 RB), and Turkey (13,700 RB).  Net sales of Pima totaling 9,600 RB were down 21 percent from the previous week and 26 percent from the prior 4-week average.  Increases were primarily for India (2,600 RB), Peru (2,400 RB), Indonesia (2,000 RB), China (1,300 RB), and Japan (600 RB).  Exports of 3,100 RB were down 74 percent and 57 percent from the prior 4-week average.  The destinations were primarily to India (2,500 RB) and China (400 RB).  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 depreciated by 3 paise to close at Rs 73.52 against the dollar.Sensex rises 418 points to close above 59000 mark for the first timeToday the stock market closed with a record high. Today, where the Sensex closed at the level of 59141.16 points with a record rise of 417.96 points.  

PAKISTAN COTTON MARKET UPDATEStable trend amid moderate trade on cotton marketThe local cotton market on Wednesday remained stable and the volume remained satisfactory. Cotton Analyst Naseem Usman told Business Recorder that due to rains in the cotton-growing areas of Sindh and Punjab due to which the supply of Phutti was effected.The Spot Rate remained unchanged at Rs 13200 per maund. The Polyester Fiber was available at Rs 222 per kg.The rate of cotton in Sindh is in between Rs 12400 to Rs 12500 per maund and the rate of cotton in Punjab is in between Rs 13300 to Rs 13500 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 5800 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5000 to Rs 5800 per 40 kg. The rate of Banola in Sindh is in between Rs 1650 to Rs 1750 per maund. The rate of Banola in Punjab is in between Rs 1650 to Rs 1800 per maund. The rate of cotton in Balochistan is in between Rs 13100- 13200 per maund. The rate of Phutti in Balochistan is Rs 6000- 6800 per maund.

ICE COTTON SUMMARYCotton edges lower as harvest nears; export sales data in focusICE cotton futures dipped slightly on Wednesday, as traders geared up for the upcoming weekly export sales data, with the harvest season on the horizon.Wednesday’s move is muted as “we are right on the edge of the harvest, and the funds are pretty much loaded on the long side,” said Keith Brown, principal at cotton brokers Keith Brown and Co in Georgia. “We’re probably seeing some producer hedging and price fixation.”Market focus now shifts to the next weekly export sales report from the U.S.Department of Agriculture (USDA), due on Thursday. “The markets are hoping to see that China is back in business,” Brown said about the report. Last week, the USDA reported net sales of 453,000 Running Bales (RB) for 2021/2022 in the week to Sept. 2, of which 261,500 RB were for China.The dollar index eased against its rivals, making cotton less expensive for buyers holding other currencies, limiting its losses.“The remnants of Nicholas will (mostly) spare the mid-south crop but is now bringing unwanted rain across the Gulf Coast region of the southeastern states,” Louis Rose, director of research and analytics at Tennessee-based Rose Commodity Group, said in a note.Tropical depression Nicholas, last reported to be about 165 miles west of New Orleans, Louisiana, is set to dissipate some time on Thursday night or Friday, the U.S. National Hurricane Center (NHC) said.Total futures market volume fell by 10,550 to 7,415 lots. Data showed total open interest gained 1,744 at 273,192 contracts in the previous session. SiS Commited to update you on all textile related news real time.