Slowdown in Pakistan's cotton marketThe local cotton market remained stable on Tuesday with low trading volumes. Cotton analyst Naseem Usman told that the price of cotton in Sindh is 17 thousand to 20 thousand rupees per head. The rate of cotton in Punjab is Rs 18,000 to Rs 20,000 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. The spot price remained unchanged at Rs 19,300 per piece. Polyester fiber was available at Rs 373 per kg👇🏻👇🏻👇🏻👇🏻https://www.smartinfoindia.com/hi/news-details-hindi/India-set-anti-dumping-duty-linen-yarn-china-agriculture-exports
Rupee opens 8 paise stronger against dollarToday, the rupee opened at a level of 82.04 against the dollar with a strength of 8 paise. On the other hand, on Tuesday, the rupee closed at a level of Rs 82.12 against the dollar with a weakness of 14 paise.
India to set anti-dumping duty on linen yarn from China The DGTR of India's Ministry of Commerce has initiated an investigation to review the need for continuation of anti-dumping duty on flax, known as linen yarn, imported from China. In fact, the current charges are due to expire on October 17, 2023. It is important to note that the lea count, which is a unit to measure the length of a yarn, is below 70 for flax yarn imported from China.The investigation will determine whether anti-dumping duty should be imposed on flax yarn on imports from China and ensure fair trade practices between the two countries. The probe comes following complaints from the domestic industry and an application by Grasim Industries Ltd and Syntex Industries to initiate a sunset review of the anti-dumping duty.Linen yarn is used to make linen fabric, which is used in apparel and home textiles. The purpose of the duty is to ensure fair trade practices and create a level-playing field for domestic producers in relation to foreign producers and exporters.As per the DGTR notification, there is prima facie evidence of dumping of the product from China despite the existing anti-dumping duties. Consequently, the DGTR will review the need for continuation of duties and examine whether cessation of existing duties is likely to lead to continuation or recurrence of dumping and impact on the domestic industry.
Cotton will be cultivated on 4 million acres in Punjab, MSP fixed at 8,500/40 KG, subsidy of one thousand rupeesCotton cultivation is going to be huge this marketing year as 4 million acres of land is being used for cotton cultivation in Punjab. 8,500 / 40KG support price and a subsidy of Rs.1,000. A spokesperson says for best results use fertile land and approved Bt varieties.On Monday, an agriculture spokesman said that about 40 lakh acres of land is being used for cotton cultivation in Punjab. He also directed the farmers to sow approved and registered varieties to get better production results.Those who sow these varieties will get subsidyHe also said that the government has announced Rs. The support price of cotton is 8500/40 kg. He added to his statement that subsidies worth billions are already available to encourage cotton production. Initially the subsidy was given to the farmers sowing the following varieties of cotton – Nibge-11, BS-15, CKC-1, CIM-663, FH-490, CKC-3, MNH-1020, IUB-2013, Niab -1048, Niab-878, Niab-545 and Niab-Kiran.Benefits will be available on first come first serve basisRupee. 1,000 per bag subsidy is available for a maximum area of five acres and can be availed on first come first serve basis. Farmers have to extract the voucher from the seed bag and text its secret number along with their CNIC numbers to 8070. In his statement, the spokesman said that farmers should use fertile land and Bt varieties approved by the local agriculture authorities based on the availability of water and nature of the soil.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Kamjor-mukable-dollor-rupya-bajar-closing-nifty
Rupee weakens by 14 paise against dollarThis evening, the rupee closed at a level of 82.13 against the dollar with a weakness of 14 paise.Today the stock market closed with a boom.Today, where the Sensex closed at a level of 60157.72 points with a gain of about 311.21 points.On the other hand, the Nifty closed at a level of 17722.30 points with a gain of 98.30 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Effect-mixed-exports-gujrat-recession-global-amid-despite-growing-gcci
Mixed effect in Gujarat's exports amid global recessionDespite the growing recessionary trend, India managed to see a boom in exports. Major industries in Gujarat experienced mixed fortunes as textiles and chemicals experienced a downturn while the pharmaceutical and engineering sectors saw growth. A look at the important points related to exports-• Gujarat Chamber of Commerce and Industry (GCCI) President Pathik Patwari said, “India's total exports are expected to reach $760 billion (about Rs 62.2 lakh crore) for the financial year 2022-23.• IT, ITES, Artificial Intelligence, Machine Learning etc. are emerging as important export contributors.• Exports from traditional sectors such as textiles and chemicals have declined sharply due to global factors. The government needs to encourage production to make it more competitive in global markets.• In the first quarter of 2022-23, Indian cotton prices touched an all-time high of Rs 1.1 lakh per candy, impacting the entire value chain.• According to the Confederation of Indian Textile Industry (CITI), India's textile exports are set to decline by 23.57% between April 2022 and February 2023.• Indian cotton prices have come down to around Rs 60,000 per candy level, yet Indian cotton is expensive for international markets. Gujarat's garment manufacturers cannot compete with their counterparts in China, Vietnam and Bangladesh.versionOur exports have declined in the financial year due to high cotton prices and low demand. Demand from Europe and the US remains markedly lower. We may register growth in FY 2023-24,”Rahul Shah, Co-Chair, GCCI Textile Taskforce“The textile industry has invested heavily in export oriented plants, but it needs government incentives. The quality of Indian textiles is improving and there are huge opportunities. However, the government should ensure timely incentives for the industry.P R Kankaria, Chairman, Kankaria Textile Industries Pvt Ltd👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Ngo-buy-400-tonnes-organic-cotton-Andhra-farmers-international-produce-hectares-export
NGO to buy 400 tonnes of organic cotton from Andhra farmersOrganic cotton accounts for only 1-2 per cent of the 12.5 million hectares under natural fiber in India. An NGO working with tribal farmers in north-coastal Andhra Pradesh has brought together around 3,000 tribal farmers to procure 400 tonnes of organic cotton in the 2022-23 kharif season.“We have taken it to international brands in the US, Germany and the UK,” said Anil Kumar Ambavaram, chief executive officer of the NGO. Farmers have earned at least ₹500-600 more on fiber per quintal (market price Rs.7,200-7,500)". Starting small with 42 farmers in three villages, the Raddi (radical disruption) initiative has spread to 140 villages At least half of them sold the produce to other buyers. They just don't grow. They grow many types of crops. The NGO has branded their produce as Radis Cotton, which is finding international buyers. Encouraged by the good results, the NGO plans to expand the program to more villages. “We plan to explore export opportunities in Australia, France and Denmark”, he added.Reddy, who grows cotton on 25 acres in Karavanga village in Nagarkurnool district, says, “I am saving Rs.80 for every Rs.100 spent by other farmers by following natural farming methods. Besides, I am getting ₹1,000-1,500 more for every quintal of organic cotton I sell”. Inspired by Subhash Palekar's zero budget farming, Reddy grows several other crops such as chillies, paddy and pulses using natural farming techniques. They have recently signed a 10 ton deal for their organic cotton with a specialty textile company based in Hyderabad. “I have produced 20 tonnes of cotton this year. I sold the remaining half in the open market.GV Ramanjaneyulu, chief executive officer of the Center for Sustainable Agriculture, said organic cotton cultivation, which showed promise a few years ago, has not taken off well for a number of reasons. Apart from declining interest among farmers, the issue of contamination (natural crops affected by transgenic crops) poses a serious challenge Availability of seeds, varieties by Central Institute of Cotton Research (CICR) and All India Coordinated Research Project (AICRP) 2017-21 At least 64 non-GM (non-Bt) cotton varieties and hybrids were released during 2015 that can be adopted by organic cotton growers. Farmers are also given a package of breeder seeds and practices for organic cotton production.global rankingDespite the constraints, India accounts for half of the global production of 2.5 million tonnes of organic cotton. Madhya Pradesh tops among states with 38 per cent of the country's 8.11 lakh tonnes of organic cotton produced in 2020-21. Orissa is at 20 per cent.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Rainfall-average-imd-dgm-mmohapatra-expected-country-el-nino-farmers
Rainfall expected to be 96% (+-5%) of the country's average: M Mohapatra, IMD DGMIMD DGM M Mohapatra said there is a 67% chance of normal to above normal rainfall during June-September. He said that some areas of northwest India, some parts of west-central India, some areas of northeast India are likely to receive less than normal rainfall.El Nino effect during the second halfM Mohapatra says that at present the El Nino conditions have become neutral over the Pacific region El Nino conditions are likely to develop during the monsoon season. IMD DGM M Mohapatra said that the El Nino effect could be felt during the second half of the monsoon. Not all El Niño years are bad monsoon years. About 40% of El Niño years in the past were years with normal or above-normal monsoon rainfall, he said.Farmers should believeEl Nino may affect the second half of the monsoon in July. He said that Indian Ocean Dipole conditions are favorable for Indian summer monsoon rainfall. Farmers should believe IMD's official forecast on rains: IMD DGM M Mohapatra said that normal rains are expected in Karnataka, Jammu and Kashmir. He said that by the end of May, the IMD will issue an updated forecast on monsoon.
Rupee weakens by 9 paise against dollarThis evening, the rupee closed at a level of 81.98 against the dollar with a weakness of 9 paise.Today the stock market closed with a boom.Today, where the Sensex closed at a level of 59846.51 points with a gain of about 13.54 points.On the other hand, the Nifty closed at the level of 17624.00 points with a gain of 24.80 points.
India likely to receive below normal rainfall in 2023 due to El NinoPrivate weather forecasting agency Skymet on Monday said that India is likely to get "below normal" monsoon rains in 2023 with an increasing likelihood of El Nino, which usually brings dry weather in Asia. Jatin Singh, Managing Director, Skymet, said in a statement: "The probability of El Nino is increasing and it is becoming a dominant feature during the monsoon. The return of El Nino can predict a weak monsoon." Retaining its earlier outlook of sub-monsoon, Skymet said monsoon rainfall over India is expected to be 94% of the long period average.About half of India's agricultural land, which has no irrigation cover, depends on annual June–September rains to grow crops such as rice, maize, sugarcane, cotton and soybeans. Skymet expects the northern and central parts of the country to be at risk of rain deficiency. New Delhi defines average, or normal, rainfall as between 96% and 104% of the 50-year average of 88 centimeters (35 in) for the four-month season starting in June. The state-run India Meteorological Department is expected to announce its annual monsoon forecast soon.The weather forecaster said Punjab, Haryana, Rajasthan and Uttar Pradesh, known as the agricultural bowl of northern India, are likely to receive below normal rainfall during the second half of the season. Meanwhile, unseasonal rains and hailstorms have damaged ripening, winter-sown crops like wheat in India's fertile northern, central and western plains, hurting thousands of farmers and raising the risk of further food price inflation Is.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Bangladesh-Textile-Mills-Association-ban-import-cotton-yarn-demands-temporary
Bangladesh Textile Mills Association demands temporary ban on import of cotton yarnThe Bangladesh Textile Mills Association (BTMA) has urged a temporary halt to imports of cotton yarn used in the country's readymade garment industry to retain foreign exchange and boost apparel value addition amid a dollar crunch.In a letter to the Bangladesh Bank governor on 3 April, BTMA president Mohammad Ali Khokon outlined the proposal, which he argues will reduce their competitiveness in global markets. BTMA claims that around 510 local spinning mills, with a production capacity of 3600 million kg of cotton yarn, can meet 70% of the demand of the export-oriented apparel industry. He also mentioned that "if locally produced cotton yarn is sourced or used, the value addition would be up to 60% as against 30% value addition for imported ones."Bangladesh 100% EnabledKhokon urged the central bank governor to take measures to prevent back-to-back letters of credit (LC) for cotton yarn imports, adding that Bangladesh is 100% capable of producing cotton yarn. According to BTMA, Bangladesh is expected to import 0.543 million tonnes of cotton yarn in 2022, up from 0.297 million tonnes in 2019. which sources most of its yarn and fabric domestically, has expressed reservations about any restrictions on imports.BKMEA protestedBangladesh Knitwear Manufacturers and Exporters Association (BKMEA), working president Mohd Hatem opposed the BTMA's plea saying there should be no ban as local spinners cannot meet the entire demand of the export sector for yarn and fabric. As a result, he said, apparel exporters have to import yarn and fabric, while buyers sometimes nominate essential raw materials from abroad, especially China. "We usually import spun or combed cotton yarn from local spinning mills, even though the difference in prices is 30 to 50 cents per kilogram," said Mohammad Hatem.need to maintain competitionIf the gap is bridged, exporters source locally to meet immediate shipment deadlines, it takes a week to get raw material from local sources while imports take 30-45 days, he said. It seems "We import the rest which is normal and cannot be restricted in a free market economy and to maintain competition," he said.here comes the differenceThe government in January this year allowed the country's apparel exporters to import yarn from India in partial shipments through Benapole, Bhomra, Sonamsjid and Banglabandha land ports amid protests from BTMA. RMG exporters could earlier import yarn through Benapole land port under bonded warehouse facility but they were not allowed to make part shipments.Understand like this-In the last financial year, Bangladesh received US$ 42.61 billion from RMG exports, of which US$ 23.21 billion and US$ 19.39 billion came from knitwear and woven goods, respectively. According to BTMA, textile mills meet 80% and 35%-40% of the knitwear and woven sectors' yarn and fabric demand. Data from the central bank showed that value addition in the sector declined to 54.38% in the last fiscal from 64.32% in fiscal 2019, mainly due to higher imports of raw materials.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Due-cotton-market-demand-farmers-international-market-increased-market-prices
Market price of cotton: Due to increase in demand of cotton in the international market, the price increased, farmers are happy With the price of cotton rising up to Rs 1,000 per quintal in the past few days, farmers have started bringing cotton in large quantities to the market for sale.Maharashtra: There is a good news for the farmers. The price of cotton has increased from Rs 700 to Rs 1000 per quintal. Most of the farmers in Dhule district were keeping their cotton at home. For the last four months, the price of cotton has not gone above Rs.8,000. Farmers expected cotton prices to go up to Rs 10,000 per quintal. But the farmers were disappointed because the prices did not increase. But now for the last few days the demand for cotton has increased in the international market and prices are getting good. Due to the increase in the price of cotton in the international market, the domestic cotton market has also increased.With the price of cotton rising up to Rs 1,000 per quintal in the past few days, farmers have started bringing cotton in large quantities to the market for sale. At present, the price of cotton is above eight thousand quintals. Farmers are hopeful that these rates will increase further. Because farmers have kept cotton around for so long. There is a modest expectation of farmers that they should get good remuneration.In Dhule district, the temperature has reached 40 degree Celsius. Along with this, despite being the month of Ramzan, the farmers have also expressed displeasure over not getting good price for watermelon. Watermelon producing farmers are in trouble as the price of watermelon is not above Rs.7 per kg. The same watermelon customers have to buy at the rate of Rs 15 to 25 per kg. There is a difference of two to three times in the per kg price between the farmers and the consumers.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Market-cotton-pakistan-review-weekly-trading-international-growing-naseemusman
Weekly Review of Pakistan Cotton MarketCotton rates held steady last week amid improvement in trading activities, though there was volatility in the international cotton markets. The spot rate committee of the Karachi Cotton Association increased the spot rate by Rs 600 per head and closed it at Rs 19,300 per head. Naseem Usman, president of the Karachi Cotton Brokers Forum, said that cotton prices were volatile in the international cotton market. Cotton sowing has partially started in many cotton growing areas of Sindh province. The price of cotton in Sindh ranges between Rs 17,000 to Rs 20,000 per head. The rate of footi is 6 thousand to 8 thousand rupees per 40 kg. The rate of cotton in Punjab is Rs 18,000 to Rs 20,000 per head, while the rate of futi is Rs 6,500 to Rs 8,400 per 40 kg. However, the prices of khal, banola and oil remained stable.
Pink bollworm management a big challenge: Cotton expertsTwo day Annual Group Meeting 2022-23 on Cotton inaugurated at PAUThere is a need to accelerate the process of development of cotton varieties, especially in cotton hybridization program focusing on Bt genes, larger boll size, resistance to diseases and mechanical harvesting. This was stated by Dr. TR Sharma, Deputy Director General, Crop Science, Punjab Agricultural University (PAU).The Indian Council of Agricultural Research (ICAR) inaugurated the two-day Annual Group Meeting 2022-23 of the All India Coordinated Research Project on Cotton (AICRP) at Punjab Agricultural University (PAU). Agriculture experts from PAU along with representatives from various State Agricultural Universities and ICAR Institutes participated in the inaugural session.Describing the universities as an important medium for releasing technology to the farmers, the ICAR expert stressed on increasing the income of the farmers through cotton lint or edible oilseeds. Dr Sharma said, “Since its introduction in 2002, Bt cotton has been playing a very important role and efforts need to be made to popularize Bt cotton varieties/hybrids and develop technologies for cotton improvement. Needed." Pointing out the issue of low cotton production and productivity, Dr. Sharma assured to release some varieties for High Density Planting System (HDPS).Former chairman of the Agricultural Scientists Recruitment Board, Dr. CD Mayi, who worked in PAU 50 years ago, stressed the need for private companies to be associated with universities for the development of Bt cotton hybrids. Calling for addressing the problem of waterlogging in cotton cultivation, he said, "In North India cotton is suffering due to excess water, while in South India it is suffering due to less water." Impressing the development of HDPS hybrids of cotton, Dr. Mayi reiterated the need for integration of public-private partnership in this direction.Director, ICAR-Central Institute for Research on Cotton Technology, Mumbai, Dr. S.K. Shukla also expressed concern over the difficulties faced during cotton harvesting and called upon the breeders to come up with HDPS hybrids as a solution. Dr. Shukla also discussed in detail the quality of cotton fiber and the parameters being adopted by the spinning industry.Informing about the provision of 33 per cent seed subsidy to the cotton growers of Punjab in the current crop season, he said that the intervention of Bt cotton is a big success. Although the whitefly wreaked havoc on cotton growers in 2015, the pest was successfully controlled through the collective efforts of researchers, extension workers and administrators.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Domestic-cotton-production-pakistan-decade%20low-textile-production-export-clothing
Domestic cotton production in Pakistan at four-decade low Cotton crop is down a whopping 34 per cent this year from 7.44 million bales last year, mainly due to devastating summer floods in Sindh and southern Punjab, where this industrial crop is mostly grown. Production in Pakistan has come down to a four-decade low of 4.9 million bales in 2023. According to Pakistan-based Dawn, this has added to the country's deep economic crisis.Cotton production in Pakistan's Sindh has decreased by 46 per cent, with Punjab recording a decline of 32 per cent, forcing the textile industry to import large quantities. According to Dawn, several factors are responsible for the poor cotton harvest year after year, ranging from pests and diseases, erratic weather patterns and water scarcity to poor seed quality, low yield per acre and large reduction in area under cultivation Is.Textiles and clothing exports have suffered significantly over the past decade, with average annual production coming in at almost half of what the textile industry actually needs. Besides, the import of cotton, which is a major driver of the economy, is adding to our balance of payments problem.Textile exports fell by nearly a third during the first eight months of the current fiscal due to a slump in global demand and local fiber shortages. The industry has invested billions of dollars in technology replacement by spinners, its future competitiveness largely dependent on the increased availability of domestic cotton. After touching a high of 11.1 million bales in 2004-05, the economy is facing several challenges due to a steady decline in production over the past few decades.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Rises-pakistan-spot-rate-cotton-maund-karachi-cotton-association-committee-increased
Pakistan's cotton spot price rises by Rs 300 per maund The spot rate committee of the Karachi Cotton Association (KCA) on Thursday increased the spot rate by Rs 3,00 per head and closed it at Rs 19,300 per head. The local cotton market remained stable and there was a slight improvement in the trading volume. Cotton analyst Naseem Usman told that the price of cotton in Sindh is 17 thousand to 20 thousand rupees per head. The rate of cotton in Punjab is Rs 18,000 to Rs 20,000 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. Dherki in 1200 bales was sold at Rs.20,000 per head, Rahim Yar Khan in 1001 bales at Rs.18,500 to Rs.19,800 per head, Multan in 100 bales at Rs.19,350 per head and Haroonabad in 400 bales at Rs.19,000 per head.The spot rate committee of the Karachi Cotton Association (KCA) increased the spot rate by Rs 3,00 per head and closed it at Rs 19,300 per head. Polyester fiber was available at Rs 373 per kg.
Cluster idea for cotton and food sector in KhargoneThe District Industries and Trade Center (DITC) has identified about 14 hectares in Khargone to develop a cluster for small and medium-sized industries. DITC is considering to develop industrial area in Khargone district for food and cotton sector. Khargone district already has six Government Industrial Areas including Nimrani, Khargone, Bikangaon and Barwah.Kailash Agarwal, president of the Madhya Pradesh Association of Cotton Processors and Traders, said, “This is the cotton belt of the state and is home to hundreds of ginners and cotton-related industries. Local industries are looking for areas that have basic amenities and help from the government to expand operations so that they can compete with other states.Atmaram Soni, general manager of Khargone DITC, said, “We have seen the land and have started the process of transfer. We are in talks with some industrialists and associations to set up factories in Khargone district for manufacturing food related items. “Upon completing the official formalities, we are planning to develop small plots for bakeries, toast and other food items manufacturers in the cluster. Another cluster planned on the new land would be for cotton ginning units,” said Soni.The Ministry of Micro, Small and Medium Enterprises is also developing a food park at Sanawad in about 9 hectares, the cluster is expected to have about 70 industrial plots for SMEs. The estimated cost of development of food cluster at Sanawad is around Rs 10 crore. Industry associations and local industries have urged the MSME department to develop industrial land for micro and small scale industries.
Telangana emerges as the third largest cotton producer in IndiaTelangana state government's measures to boost cotton production have yielded positive results as the state has emerged as the top cotton producer in South India and third largest in the country after Gujarat and Maharashtra. In 2020-21, Telangana produced 57.97 lakh bales of cotton, and in 2021-22, it produced 48.78 lakh bales of cotton.Apart from production, Telangana was also the second leading state in terms of labor rate paid to cotton workers. Telangana pays Rs 98.36 per hour, while Kerala pays Rs 117.88 per hour. In contrast, states like Gujarat and Karnataka pay Rs 35.16 and Rs 49.35, respectively.Responding to a question by BRS MP Manne Srinivasa Reddy, Union Minister of State for Textiles Darshana Zardosh said in the Lok Sabha on Wednesday that India is a pure cotton exporting country, where production is more than consumption. Keeping in view the interests of the entire cotton value chain including cotton farmers, the Central Government has put cotton exports under Open General License (OGL).The Union Minister said that the Ministry of Agriculture through ICAR-CICR, Nagpur has developed a master plan titled 'Targeted technologies for agro-ecological zones-Large scale demonstration of best practices for increasing cotton productivity' and for 41.87 crore has been sanctioned. The project aims to target technologies such as High Density Planting System (HDPS), close spacing and production techniques for ELS cotton approved by the Department of Agriculture and Farmers Welfare (DoA&FW).The Central Government has also issued a Quality Control Order (QCO) on February 28, 2023 for mandatory certification of cotton bales to increase the supply of good quality cotton.
Rupee strengthened by 33 paise against dollarThe rupee strengthened by 33 paise to close at Rs 82.00 against the dollar this evening.Sensex up 583 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 59689.31 points with a gain of about 582.87 points.On the other hand, the Nifty closed at the level of 17557.00 points with a gain of 159.00 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Strong-trend-continues-market-import-intrenational-pakistan-cotton-ginner-association
Strong trend continues in Pakistan's cotton market The local cotton market remained stable on Tuesday with a marginal improvement in the trading volume. Cotton analyst Naseem Usman told that the price of cotton in Sindh is 17 thousand to 20 thousand rupees per head. The rate of cotton in Punjab is Rs 18,000 to Rs 20,000 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.Data collected by the Pakistan Cotton Ginners' Association (PCGA) shows that Pakistan produced 4,912,069 bales of cotton as against 7,441,833 in the 2021-22 season, up 2,528,764 bales or 34 per cent year-on-year, as of March 31, 2023. Losses decline.The reduced production would eventually lead the textile industry to import around 10 million bales. Mill consumption in the year 2022-23 is also recorded at 8.8m bales, the lowest in 20 years, mainly due to severe import financing issues.There are reports that textile mills have signed import agreements for 5.5 million bales so far, while they have procured 4,605,449 bales from the local market. Last year, mills had procured 7,332,000 bales from the domestic market. According to ginners, they still have a stock of 301,720 bales as against last year's 93,833 bales.Interestingly, despite strong demand in the international markets, only 4,900 bales of white lint could be exported this year as against last year's figure of 11,000 bales, a drop of over 69 per cent. Province-wise, Punjab reported a year-on-year decline of over 32 per cent in production as it produced 3,033,050 bales this season as against 3,928,690 bales in the previous season.The spot rate remained unchanged at Rs 19,000 per head. The rate of polyester fiber was increased by Rs 10 and was available at Rs 373 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Tajikisan-bci-sustainable-cotton-production-mou
| title | Created At | Action |
|---|---|---|
| Slowdown in Pakistan's cotton market | 12-04-2023 11:47:58 | view |
| Rupee open 8 paise stronger against dollar | 12-04-2023 09:48:03 | view |
| India to set anti-dumping duty on linen yarn from China | 11-04-2023 18:34:16 | view |
| Cotton will be cultivated on 4 million acres in Punjab, MSP fixed at 8,500/40 KG, subsidy of one thousand rupees | 11-04-2023 16:55:21 | view |
| Rupee weakens by 14 paise against dollars | 11-04-2023 16:26:05 | view |
| Mixed effect in Gujarat's exports amid global recession | 11-04-2023 16:11:30 | view |
| NGO to buy 400 tonnes of organic cotton from Andhra farmers | 11-04-2023 15:52:56 | view |
| Rainfall expected to be 96% (+-5%) of the country's average: M Mohapatra, IMD DGM | 11-04-2023 14:54:07 | view |
| Rupee weakens by 9 paise against dollars | 10-04-2023 17:31:14 | view |
| India likely to receive below normal rainfall in 2023 due to El Nino | 10-04-2023 16:45:39 | view |
| Bangladesh Textile Mills Association demands temporary ban on import of cotton yarn | 10-04-2023 16:32:43 | view |
| Market price of cotton: Due to increase in demand of cotton in the international market, the price increased, farmers are happy | 10-04-2023 14:31:25 | view |
| Weekly Review of Pakistan Cotton Market | 10-04-2023 12:48:16 | view |
| Pink bollworm management a big challenge: Cotton experts | 07-04-2023 18:21:46 | view |
| Domestic cotton production in Pakistan at four-decade low | 07-04-2023 18:07:42 | view |
| Pakistan's cotton spot price rises by Rs 300 per maund | 07-04-2023 12:08:40 | view |
| Cluster idea for cotton and food sector in Khargone | 06-04-2023 12:34:08 | view |
| Telangana emerges as the third largest cotton producer in India | 06-04-2023 12:03:28 | view |
| Rupee strengthened by 33 paise against dollar | 05-04-2023 16:32:59 | view |
| Strong trend continues in Pakistan's cotton market | 05-04-2023 12:01:09 | view |
