A stormy rise in the price of yarnSSM Mills announced a significant increase in the prices of cotton yarnSri Saravana Mills Pvt. Ltd., a well-known Spinning Mill located in Tiruppur, South India. has made an important announcement regarding the prices of yarn. Milske officials have informed that the price of cotton yarn has increased by Rs 40 per kg. Actually, the price has increased by 100% cotton knitting yarn count. Based on these increased prices, some industry experts have also launched new estimated ratelists. According to this rate list, the rates for different counts of yarn range from about Rs 407 to Rs 465. It is clear that due to increase in the prices of yarn, the cost of garment manufacturer will increase. Have a look at the increased rate list-
Today evening, the rupee depreciated by 9 paise to close at Rs 76.52 against the dollar.Sensex closed down 85 pointsToday the stock market closed with a fall. Today, where the Sensex fell by about 84.88 points, closed at the level of 56975.99 points. On the other hand, Nifty closed at the level of 17069.10 points down by 33.40 points.
The stock market started on the red mark, Sensex fell more than 480 pointsOn the first trading day of the month of May i.e. on Monday, May 2, the stock market opened with a big fall. The stock market started on the red mark on the first trading day of the week amid weak
Know how this fortnight was for textile investors:A look at the stock report of major textile companies from 18 to 30 AprilThe stock market has seen ups and downs almost every day in the month of April. One day the Sensex is down and the next day there has been a tremendous increase in the Sensex data. Many times the market has changed a lot in a single day. Such a situation of confusion has also taken investors by surprise. If we look at the report of the last 15 days, then there has been a lot of volatility in the shares of the major companies of the textile segment. However, the market cap of most of the companies has remained negative. Let's know BSc
Three lakh bales of cotton soon to arrive India post the duty removal announcement.Immediately after the government declared the duty free import of cotton, some of large mills have ordered around 3 lakh bales. Each bale is 170 kg and will probably arrive India by mid-June from US. The mill owners have bought mainly the short staple cotton which is 27.5 mm length. As per the sources, the deals were closed at Rs. 89,000/- per candy (356 kg each FOB). Commonly, Indian cotton industries consume medium staple cotton which measures 28.5 mm length. Short staple cotton can be used in similar ways when blended with medium staple cotton. Although, as of now it is uncertain that whether the import deals proves beneficial financially for mill owners or not because we are unaware of the Indian market in mid-June, but at the same time the import has surely brought availability of crop to the market.Traders also asserts that the decision is good and welcomed, however delayed. If it had come earlier say in February, industrialists must have imported approximately 40 lakh bales. But it came in mid-April which couldn’t fulfil the shortfall in domestic market. Now, the estimated arrival is merely 10-12 lakh bales by September current year.Nevertheless, mills are importing cotton just to regulate the chain and supply. Also, on the flip side thin demands from weaving and garment industry doesn’t allow spinners to import expensive cotton.
Market News Bulletin
Government also has hope from cotton, encouraging farmers to cultivate cottonGovernments of various states engaged in promoting cotton farming, cotton is being recognized as a profit making cropThe unimaginable rise in the price of cotton has attracted everyone. Be it farmers or traders or the government, all are looking at cotton as a profit making crop. Many farmers are leaving their traditional farming and turning to cotton farming. Governments are also promoting cotton as a profit making crop at their level. Recently, the Telangana government has prepared an incentive scheme for farmers to plant 70 to 75 lakh acres of cotton in the coming Kharif season, which will be about 35 lakh acres more than paddy. . Along with this, the Telangana government is trying its best to ensure that the farmers do not face any shortage of fertilizers or seeds for the cotton crop.Sowing is dependent on monsoonTelangana Chief Minister K Chandrashekhar Rao has given green signal to the crop plan prepared by the Department of Agriculture and Horticulture for the upcoming Kharif season. And directed the Agriculture Department to make the farmers aware about the cultivation of profitable crops especially cotton. Agriculture Department's M Raghunandanarao has confirmed that this time 70 to 75 acres of cotton will be promoted in Telangana, although the actual sowing will also depend on the monsoon. If the rains are early and good, the chances of a good crop can increase. This time in Telangana, cotton is being encouraged more than paddy, as cotton prices have reached a record high of Rs 13,000 per quintal this season.Telangana cotton demand in international marketApart from Telangana, awareness campaigns are being run by the government to cultivate cotton in Haryana, Punjab, Maharashtra, Orissa and Madhya Pradesh. In order to promote indigenous cotton, the Haryana government is providing incentives up to Rs 3,000 per acre to the farmers, while the Punjab and Haryana governments are running awareness campaigns to save the cotton crop from pink bollworm disease. One of the reasons for promoting cotton cultivation in Telangana is that the demand for cotton in the international market is very high.
Today evening, the rupee strengthened by 6 paise to close at Rs 76.42 against the dollar.Today the stock market closed with a fall.Today, where the Sensex closed at a level of 57060.87 points, down by about 460.19 points. On the other hand, Nifty closed at the level of 17102.50 points down by 142.50 points.
“The duty exemption on cotton import is just not enough, traders and stakeholders demands for other measures”The cotton fraternity welcomes the decision of the government of removal of duty on cotton import, but it should have come earlier ,says the stakeholders. Sumit Jain, MD of a Delhi based Textile Company asserts that had the decision came 6-7 months earlier we wouldn’t have cancelled several orders due to the steep price hikes. Many business commitments couldn’t get fulfilled as the surging in prices every fortnight derailed the original manufacturing plans and their timeline.Several factors contribute to the spike in rates including the rise in demand but lack of supply and excessive rainfall in some major cotton growing areas. Also, the irregularity in the supply chain and logistics has disrupted the global trade affair.Firms like MSME are really facing a tough time with their production from past 8-10 months. The traders and exporters are now looking for some more perks to stabilize the industry. Firstly, government should take a firm stand to control the export of raw cotton, in order to add value to cotton products. The Home Textile Welfare Association (HEWA) urges the government to put serious checks on the uncontrolled export of raw materials to competitive countries like China and Bangladesh..
Rupee depreciates against dollar, breaks 9 paiseIn the foreign exchange market, the rupee opened with a fall today against the dollar. Today the rupee opened with a fall of 9 paise at Rs 76.57 against the dollar. At the same time, the rupee on Thursday closed at Rs 76.48 with a strength of 5 paise against the dollar.
Sensex rises further, opens up 315 pointsToday the stock market opened with great momentum. Today, the BSE Sensex opened with a gain of 314.65 points at the level of 57835.71 points. On the other hand, the Nifty of NSE opened with a gain of 86.20 points at the level of 17331.20 points.
*All India Weather Forecast for April 29, 2022**Weather systems made across the country*A Western Disturbance is persisting over North Jammu and Kashmir and adjoining parts of Pakistan.A Cyclonic Circulation is persisting over Bihar and adjoining areas.A contour is passing from Vidarbha to South Tamil Nadu through Telangana and Interior Karnataka.Another fresh Western Disturbance is likely to reach Western Himalayas by May 2.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred over parts of Assam, Meghalaya, Arunachal Pradesh and Kerala.Light rain occurred in 1-2 parts of Nagaland, Manipur and North Interior Karnataka and South Chhattisgarh.Heat wave conditions prevailed over some parts of Gangetic West Bengal and parts of Bihar, West Rajasthan, Odisha, Vidarbha and Saurashtra Kutch.*Weather activity likely during next 24 hours*During the next 24 hours, isolated light rain with isolated falls over parts of Sikkim, Sub-Himalayan West Bengal, Assam, Meghalaya, Arunachal Pradesh, parts of Kerala, Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, Ladakh and Himachal Pradesh. But there may be moderate rain.Light rain is possible over one or two parts of Manipur, Mizoram, Karnataka and South Chhattisgarh, Andhra Pradesh and Andaman and Nicobar Islands.Heat wave conditions are possible over Vidarbha, Rajasthan, parts of Madhya Pradesh and one or two parts of Uttar Pradesh, Jharkhand, Bihar, West Bengal, Odisha, Gujarat, Haryana, Delhi and Punjab.
Share market investors are happy, Sensex rises 702 points to reach 57,521.06 level. Rupee strengthens by 5 paise against the dollar, the dollar lost its value to Rs 76.48. The period of volatility continues in the cotton physical market, prices increased by Rs 500 to 1000 in almost all the mandis, no sale took place.Malaysia imposed ban on oil export, new policy came into force from Thursday. According to the exchange market, Malaysia Palm Oil fell 260 Ringint in May and closed at 7497.
U.S. EXPORT SALES FOR WEEK ENDING 21/04/2022 Cotton: Net sales of 121,100 RB for 2021/2022 were up noticeably from the previous week and up 19 percent from the prior 4-week average. Increases primarily for China (61,400 RB, including decreases of 7,600 RB), Vietnam (25,300 RB, including 1,700 RB switched from China, 700 RB switched from South Korea, and 500 RB switched from Japan), India (12,700 RB, including decreases of 5,500 RB), Pakistan (11,600 RB), and Turkey (4,700 RB), were offset by reductions for Ecuador (600 RB), South Korea (400 RB), Japan (300 RB), and Colombia (100 RB). Net sales of 49,500 RB for 2022/2023 primarily for El Salvador (28,800 RB), Honduras (11,400 RB), Peru (5,100 RB), Guatemala (4,500 RB), and Vietnam (4,400 RB), were offset by reductions for China (11,200 RB). Exports of 386,000 RB were up 5 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to China (117,900 RB), Vietnam (67,400 RB), Pakistan (57,600 RB), Turkey (43,300 RB), and Mexico (17,500 RB). Net sales of Pima totaling 13,000 RB were up noticeably from the previous week and from the prior 4-week average. Increases were reported for China (10,300 RB), Vietnam (1,700 RB), India (700 RB), Colombia (200 RB), and Malaysia (100 RB). Net sales of 500 RB for 2022/2023 were reported for Japan (300 RB) and Peru (200 RB). Exports of 4,400 RB were down 70 percent from the previous week and 69 percent from the prior 4-week average. The destinations were primarily to Peru (2,000 RB), China (1,600 RB), Vietnam (400 RB), Turkey (200 RB), and Bangladesh (100 RB). Optional Origin Sales: For 2021/2022, the current outstanding balance of 57,200 RB is for Vietnam (52,800 RB) and Pakistan (4,400 RB). Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance is 100 RB, all Vietnam.
Cotton yarn export of Pakistan has increased tremendously, exports increased by 26 percent in 9 monthsThe demand for cotton yarn is increasing rapidly in almost all the countries involved in the textile industry. As a result, its exports have also increased. According to a reputed news group of Pakistan, the export of cotton yarn has increased by 25.97 percent in the 9 months of the financial year 2021-22 as compared to the previous year. Pakistan exported 293,161 metric tons of cotton yarn between July and March 2020-21, valued at $721.216 million. While this year between July to March 2021-22, cotton yarn worth $908.487 million has been exported from here. 100 percent increase in export of comberAlong with this, 2,752 metric tons of raw cotton worth $6.577 million were also exported in these 9 months, while only 499 metric tons worth $0.0593 million were exported during the same period last year. The export of cotton fabric has also increased in the first quarters of the current financial year. Last year it was 314,562 metric tonnes while this year it has been 342,700 metric tonnes. During the same period, there has been a 100 percent increase in exports of combed yarn. Pakistan has exported 1,211 metric tons this year compared to last year's export of 49 metric tons. A total of 1.30 lakh hectares will be used for cotton cultivationIt is significant that this time in Kharif season 2022-23, about 11.30 lakh hectares are to be cultivated here. The target of cotton production on 1.822 million hectares of land in Punjab province has been set at 6.600 million bales; Sindh province has a target of 4 million bales on 0.4600 million hectares. Apart from this, production targets for Khyber Pakhtunkhwa and Balochistan have been set at 0.004 and 0.0022 million respectively.Various programs were being run by the government to promote cotton cultivation in Pakistan. This is the reason why during the first 9 months of the current financial year a growth of 25.97 percent has been observed in the exports of the textile group from Pakistan.
Today evening, the rupee strengthened by 5 paise to close at Rs 76.48 against the dollar.Sensex closed up by 702 pointsToday the stock market closed sharply. Today, where the Sensex closed at the level of 57521.06 points with a gain of about 701.67 points. On the other hand, the Nifty closed at the level of 17245.00 with a gain of 206.60 points.
Rupee ruffled against the dollar, opened 12 paise weakIn the foreign exchange market, the rupee opened with a fall today against the dollar. Today the rupee opened with a fall of 12 paise at Rs 76.65 against the dollar. At the same time, on Wednesday, the rupee strengthened by 5 paise to close at Rs 76.53 against the dollar.
All India Weather Forecast for April 28, 2022Weather systems made across the countryThe Western Disturbance is over North Pakistan and adjoining parts of Afghanistan.A Cyclonic Circulation is persisting over Sub-Himalayan West Bengal and adjoining West Assam.A trough is extending from this cyclonic circulation to southern parts of Bangladesh.A Trough/Wind Discontinuity is extending from East Madhya Pradesh to North Interior Karnataka through Vidarbha, Marathwada and parts of North Madhya Maharashtra.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain occurred over Sikkim, and most parts of Northeast India as well as parts of Sub-Himalayan West Bengal.Light rain fell in Kerala.Light rain occurred at one or two places over Rayalaseema, North Interior Karnataka and Andaman and Nicobar Islands.Heat wave conditions are prevailing in some parts of Bihar and Gangetic West Bengal.Probable weather activity during next 24 hoursDuring next 24 hours, return of heat wave is possible over Vidarbha, Interior Odisha, Bihar, Sub-Himalayan West Bengal, Jharkhand, Gujarat, Rajasthan, Uttar Pradesh, Madhya Pradesh, Punjab, Haryana, Delhi, Madhya Maharashtra and isolated parts . During the next 24 to 48 hours, one or two parts of Telangana may also experience heat wave conditions.Light to moderate rain is very likely over some parts of Sikkim, Northeast India and Sub-Himalayan West Bengal.Light rain with one or two moderate rains may occur over Kerala and southern parts of Karnataka.Light rain is possible at one or two places over Jammu and Kashmir, Himachal Pradesh, North Interior Karnataka, Andhra Pradesh and Andaman and Nicobar Islands. Good good
Duty exemption still not able to increase imports as higher rates curbsThe duty which was being imposed on the import of cotton, has been removed by the government a few days ago. But as expected, this does not seem to give any relief to spinners and textile mills. The reason behind this is the skyrocketing prices of cotton which is Rs. 90,000/- per candy.There was a strong belief in the market that duty exemption would lead to higher imports of cotton, but this ultimately did not happen as international prices were still too high.According to CAI, if the decision had come a few months earlier, global prices would have been under control. There are more loss making spinning units which cannot afford such high price as the weavers will not pay them high price for the yarn. Another reason for the hike in rates is the crop stock with MNCs which is around 6 million bales and futures trading on platforms like MCX and NCDEX, says Saurin Parikh, President, Spinners Association of Gujarat (SAG). He urged the government to limit both the factors.However, farmers have around 50 lakh bales and 7 to 8 lakh bales from Tamil Nadu and Karnataka will hit the market in early June, resulting in regulated supply chain, CAI President Atul Ganatra said.
‘Temporary ban on cotton exports likely’Cotton prices have touched ₹90,000 per candy. Prices of some varieties of have touched ₹100,000 per candyThe Union government may impose a temporary ban on cotton exports if cotton prices continue to surge, textiles secretary Upendra Prasad Singh told Mint. The statement comes at a time when the Indian textile Industry is reeling under a spike in cotton and yarn prices, impacting production and exports.Cotton prices have doubled in barely a year to over ₹90,000 per candy. Prices of some varieties of cotton have even touched ₹100,000 per candy. A ban could free up cotton for the domestic market and thus help soften prices.High cotton prices affect the Indian textile industry disproportionately, as it is heavily dependent on cotton, unlike other markets where man-made fibre occupies a larger share.Singh said cotton prices are unlikely to decline before October when the new cotton crops arrive. Cotton prices have been a “dampener" and the problem could persist for some time as there is a global shortage of cotton, Singh said.The statement comes a week after the government waived customs duties on imported cotton until September. Earlier, cotton imports were effectively taxed at 11%. “Cotton prices haven’t softened as we expected them to. It is not rising too, it’s stagnant at a point. We are evaluating the further course of action and temporarily banning export or imposing quantitative restrictions to check prices is an option," Singh said.“However, policy decisions should not be uncertain or a knee-jerk reaction and these are extreme steps -- but if there is a need we will do it," he added.The price surge can be traced back to the US ban on the import of cotton products from China’s Xinjiang region, experts said. Textile manufacturers said many of them have had to cut production because of rising input costs. While customers have borne rising prices “to a certain point", garment manufacturers apprehend resistance going forward.Manufacturers said the import duty exemption would have been more beneficial if cotton were immediately available after placing an import order. But it takes nearly three months to get the cotton from the date of placing the order and exemption has been given only until September.
| title | Created At | Action |
|---|---|---|
| A stormy rise in the price of yarn | 02-05-2022 16:49:56 | view |
| Today evening, the rupee depreciated by 9 paise to close at Rs 76.52 against the dollar. | 02-05-2022 16:10:43 | view |
| The stock market started on the red mark, Sensex fell more than 480 points | 02-05-2022 10:59:54 | view |
| Know how this fortnight was for textile investors: | 30-04-2022 18:38:24 | view |
| Three lakh bales of cotton soon to arrive India post the duty removal announcement. | 30-04-2022 13:49:24 | view |
| Market News Bulletin | 29-04-2022 18:42:21 | view |
| Government also has hope from cotton, encouraging farmers to cultivate cotton | 29-04-2022 17:07:35 | view |
| Today evening, the rupee strengthened by 6 paise to close at Rs 76.42 against the dollar. | 29-04-2022 16:12:27 | view |
| “The duty exemption on cotton import is just not enough, traders and stakeholders demands for other measures” | 29-04-2022 13:28:56 | view |
| Rupee depreciates against dollar, breaks 9 paise | 29-04-2022 10:37:44 | view |
| Sensex rises further, opens up 315 points | 29-04-2022 10:32:30 | view |
| *All India Weather Forecast for April 29, 2022* | 29-04-2022 07:36:20 | view |
| Share market investors are happy, Sensex rises 702 points to reach 57,521.06 level. | 28-04-2022 18:27:44 | view |
| U.S. EXPORT SALES FOR WEEK ENDING 21/04/2022 | 28-04-2022 18:14:05 | view |
| Cotton yarn export of Pakistan has increased tremendously, exports increased by 26 percent in 9 months | 28-04-2022 17:24:28 | view |
| Today evening, the rupee strengthened by 5 paise to close at Rs 76.48 against the dollar. | 28-04-2022 16:16:44 | view |
| Rupee ruffled against the dollar, opened 12 paise weak | 28-04-2022 10:21:03 | view |
| All India Weather Forecast for April 28, 2022 | 28-04-2022 10:12:21 | view |
| Duty exemption still not able to increase imports as higher rates curbs | 27-04-2022 13:01:34 | view |
| ‘Temporary ban on cotton exports likely’ | 27-04-2022 12:54:07 | view |
