Rupee weakens by 1 paise against dollarThis evening, the rupee closed at Rs 81.91 against the dollar with a weakness of 1 paise. Sensex closed up 75 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 60130.71 points with a gain of about 74.61 points.On the other hand, the Nifty closed at the level of 17769.30 points with a gain of 25.90 points.
Rupee strengthened by 19 paise against dollarThe rupee strengthened by 19 paise to close at Rs 81.90 against the dollar this evening.Sensex closed up by 401 pointsToday the stock market closed with a boom.Today, where the Sensex closed at the level of 60056.10 points with a gain of about 401.04 points.On the other hand, the Nifty closed at a level of 17743.40 points with a gain of 119.40 points.
Traders estimate, there will be cotton boom in the mandis in the coming few weeksTraders in Maharashtra estimate that farmers will bring cotton in bulk in the next two to three weeks. The signs of farmers running out of cotton are now visible. Farmers who are expecting a rise in prices but cannot wait much longer are selling cotton. The price in Amravati market committee is Rs 8050 to 8100 per quintal.Cotton prices were under pressure in the month of March. Farmers who had no option but to sell cotton, sold it till March. But knowing that the farmers could not wait much longer, the traders kept the prices down in the market.Meanwhile, farmers increased sales as they felt prices were not rising. But when it was realized that farmers with storage capacity would not sell cotton unless the price was increased, the price was raised. Still, it is estimated that 20 to 25 percent cotton is left with the farmers.Three crore bales have been produced in the country. According to this, now 60 lakh bales of cotton are left with the farmers. If the farmers of Maharashtra are to be believed, they have 20 per cent stock left. It is estimated that 775 lakh quintals of cotton is left for 15 lakh bales. Needy farmers will sell cotton for Kharif. Big farmers will keep stock in anticipation of price rise.Cotton arrivals marginally increased in the market last week due to marginal correction in prices. Now traders are estimating how much cotton is left with the farmers. The prospects of a price rise have turned a bit hazy. Cotton season is in its last leg, so the market remains volatile at this time. But the price has closed at an average of eight thousand rupees.The Cotton Association of India has predicted that the state will produce 78 lakh bales of cotton this year. Last month's production was estimated at 80 lakh bales. It has subsided now.The average price of cotton in March and April last year was Rs 9,300 per quintal. At some places this rate went up to 10,000. Cotton is yet to get that price this year. This is what farmers were expecting this year, but the fluctuating prices have started confusing them.
Textile units in Gujarat rapidly shifting to polyester, viscoseLast year, the textile sector saw a mix in cotton and now many players in the value chain have moved to polyester and viscose. High cotton prices have hurt the textile industry so much that industrialists are looking for alternative avenues for business. Many garment manufacturers in Ahmedabad are shifting towards polyester and viscose fabrics. Market sources say that cotton textile units need to make only minor changes to start manufacturing polyester and viscose.more volatility in pricesAccording to industry estimates, less than 5% of textile companies that were solely in cotton have adopted the man-made fiber. Last year, cotton prices had touched a record high of Rs 1.10 lakh per candy (356 kg). This year the prices have come down to an average of Rs 60,000 per candy. Experts say, the recent estimates by Cotton Association of India (CAI) indicate lower crop production and hence there will be more volatility in cotton prices.no other optionDhruv Patel, Managing Director, Diamond Textile Mills Pvt Ltd said, “For over five decades we had a cotton textile business with integrated spinning, weaving and processing facilities. For the last nine months, we have completely shifted to polyester yarn and viscose. We get fiber, manufacture yarn and weave it into fabric. We are also supplying yarn to manufacturers in Surat. Due to high cotton prices, we had no option but to turn to polyester and viscose. We have not completely exited the cotton business, but feel that the time is not right for cotton and hence we have decided to diversify.customer demandP R Kankaria, Chairman, Kankaria Textile Industries Pvt Ltd said, “Our core business is cotton fabric processing but the high cotton prices last year taught us many lessons. A section of our customers demand polyester and viscose, which are cheaper. We started sourcing polyester from Surat and viscose from South India. Polyester, viscose and rayon are part of our portfolio this year and we also managed to bag export orders from China. We have started printing shirting fabric, dress material for ladies and home textile in viscose. “We buy gray fabric from Surat, which is not a huge cost, and process it here.”Blend of polyester up to 65%"Gujarat is a hub for cotton textiles, but last year more than 5% of its cotton capacity has been replaced by polyester and viscose," said Saurin Parikh, president of the Spinners' Association Gujarat. Akash Sharma, director, Aakash Fashion Pvt Ltd, said, “We started polyester and viscose printing three years back. We used to be into 100% cotton, but blending has started of late. Blending up to 65% polyester as it is at least 25% cheaper than pure cotton. Earlier we used to print 1.2 million meters of cotton shirts every month, however, the capacity utilization has come down due to higher cotton prices. Now we print seven lakh meters of blended shirting fabric, whereas our pure cotton shirting fabric volume is only one lakh meters in a month.”
Confusion over Indian cotton production, stakeholders estimate total production at 337.23 lakh bales The Committee on Cotton Production and Consumption (CCPC), a government-constituted body comprising all stakeholders of the textile industry including farmers, has estimated cotton production for the current season till September at 337.23 lakh bales (170 kg each). The projection of the CCPC headed by the Central Textiles Commissioner on Thursday is against the estimated 341.91 lakh bales in November last year.“There are various estimates of cotton crop rounding, but the CCPC estimate reflects the reality,” said a business source in a multinational company (MNC). As per CCPC estimates, the area under cotton this season is over 130.49 lakh hectare (LH) and the yield is estimated at 439.34 kg/ha. In the last season, cotton was cultivated in 119.10 lakh hectares and the productivity was 445 kg/ha.Production in the northern region including Punjab, Haryana and Ganganagar areas of Rajasthan is estimated at 47.25 lakh bales (44.44 lakh bales a year ago). The production in the central region of Maharashtra, Gujarat and Madhya Pradesh is estimated at 184.16 lakh bales (160.20 lakh bales). The southern region formed by Telangana, Tamil Nadu, Andhra Pradesh and Karnataka is estimated to produce 98.30 lakh bales (100.85 lakh bales). 7.52 lakh bales (6.54 lakh bales) are expected to arrive from other parts of the country.The problem with crop estimates this year is that people have gone by the earlier trend of market arrivals. We are passing through an unusual year when farmers have withheld their produce. He had never done this before in Karnataka and Maharashtra. According to the Southern India Mills Association (SIMA), farmers and traders have withheld cotton this year due to a shortage in the availability of the raw material. This year, farmers have not been able to get more than Rs 9,000 per quintal, though they are above the minimum support price of Rs 6,080. Currently, the model price (the rate at which most of the trades take place) is hovering around ₹8,000.According to agriculture ministry data, cotton arrivals in the country during March 1 to April 21 stood at 33.72 lakh bales, as against 22.45 lakh bales in the same period a year ago. “If the cotton production forecasting agencies were allowed to control market conditions, we would not have had such confusion,” said an expert in the textile industry in the southern region. CAI's forecast of a 14-year low crop has pushed cotton futures on MCX up to ₹64,020 per candy (356 kg) for delivery in June. The spot price of Shankar-6 cotton, a benchmark for exports, is currently quoted at ₹63,000 per candy. The price has gained more than ₹2,500 this week.In the global market, cotton for May delivery was trading at 79.05 cents per pound (Rs 51,350 per candy) on the Intercontinental Exchange in New York. This has resulted in Indian cotton enjoying a premium and in turn hurting its export prospects. The US Department of Agriculture has forecast India's cotton production to fall to a 19-year low this year.
Rupee strengthened by 6 paise against dollarThe rupee strengthened by 6 paise to close at Rs 82.09 against the dollar this evening.Today the stock market closed with a boom.Today, where the Sensex closed at a level of 59655.06 points with a gain of about 22.71 points.On the other hand, the Nifty closed at a level of 17624.00 points with a fall of 0.50 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Good-child-news-labor-eliminated-Telangana%27s-almost-cotton-fields-international-labor-organzation
Good news: child labor almost eliminated in Telangana's cotton fieldsAfter three years of persistent advocacy-cum-awareness campaigns for child labor eradication, jointly organized by the International Labor Organization (ILO)'s 'Fundamental Principles and Rights at Work in Cotton Supply Chain' project and Telangana, the results showed That the involvement of child labor in this supply chain has disappeared. According to state government officials, several reports have also indicated positive results of invisible child labor in the cotton fields.Labor Additional Commissioner E Gangadhar said the project was implemented in the four major cotton districts of Nalgonda, Warangal Rural, Adilabad and Adilabad. “I can confirm that we almost do not see child labor in cotton fields in these regions. Maharashtra, Gujarat, Haryana, Karnataka, Rajasthan, Andhra Pradesh, Madhya Pradesh, Punjab and Telangana are the major cotton producing states and Telangana alone is the country It accounts for about 15% of the total cotton growing area of India.According to data from the Periodic Labor Force Survey (PLFS) 2018-19, there are mainly three types of labor in cotton cultivation in Telangana – own cultivation, family labor and casual labor (which constitute 46 per cent of the state's majority workforce). In addition, the proportion of women under 18 in casual labor is higher than that of men.According to studies, children under the age of 18 working in cotton fields cite a variety of reasons, with a majority (83.9 percent) citing the need to supplement family income, followed by fewer farmers. Age is a priority for labor. Lack of supervision and absenteeism by school teachers for children working in cotton fields has also been cited as a reason. Other important reasons for teenagers below 18 working in cotton fields include advances taken from cotton farmers by elders in the family.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Vietnam%27s-exports-march-economy-projected-world-trade-organization-epidemic
Vietnam's exports fell 14.8% in MarchIn 2022, Vietnam's economy is projected to grow by 8.02% year-on-year, which exceeded expectations. But by early 2023, exports have shrunk, slowing economic growth. Vietnam is one of the world's largest exporters of clothing, footwear and furniture, but in the first quarter of 2023, Vietnam is facing "volatile and complex developments in the world economy".The deceleration in GDP growth was mainly due to a decrease in consumer demand. Overseas sales decreased 14.8% year-on-year in March, and exports fell 11.9% in the first quarter, a sharp turnaround from last year. In 2022, Vietnam's exports of goods and services are expected to be US$384.75 billion. Among them, merchandise exports were US$371.85 billion, up 10.6% over the previous year. Services exports were around US$12.9 billion, a year-on-year increase of 145.2%.The World Trade Organization predicts that global merchandise trade will grow by 1.7% in 2023. This growth is lower than the 2.7% growth rate expected in 2022 and below the average growth rate of 2.6% over the past 12 years. However, this figure was higher than the 1.0% forecast made in October last year.A key factor is the easing of China's epidemic control policy, which is expected to release consumer demand and in turn boost international trade. In the latest report, the WTO's forecasts for both trade and GDP growth are lower than their averages over the past 12 years (2.6% and 2.7%, respectively).👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Closed-sensex-market-strengthened-dollor-rupee-boom-nifty
Rupee strengthened by 8 paise against dollarThe rupee strengthened by 8 paise to close at Rs 82.15 against the dollar this evening.Sensex closed up by 65 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 59632.35 points with a gain of about 64.55 points.On the other hand, Nifty closed at 17624.50 points with a gain of 5.70 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Despite-negativity-textile-trade-global-International-textile-manufacturers-federation
Despite negativity, global textile trade hopes up: ITMFThe global textile industry is facing high production costs and low demand from June 2022. However, according to the 19th ITMF GTIS, the expectations of companies regarding the business environment in the six months from November 2022 are improving. Nevertheless, weak demand and inflation remain major concerns in the industry.bad situationGlobal trade conditions in the textile industry have been negative since June 2022 and are still getting worse. Companies across all segments across the world are facing a 'perfect storm' scenario with high production costs and relatively low demand. At the same time, according to the International Textile Manufacturers Federation (ITMF), companies' expectations for the business environment in six months from November 2022 are improving.'Weak demand' a major concernThere has also been a steady decline in order numbers since November 2021, mostly in line with the business situation trend. The rate of decline has however slowed down in March 2023 due to weak demand. 'Weak demand' in the global textile value chain from July 2022 has indeed been rated as a major concern and has grown in importance in the last survey. Inflation remains another major concern around the world.No orders canceled since 4 monthsThirty-three percent of 19th GTIS respondents did not cancel an order during the previous four months (down from 58 percent last January). The phenomenon is stronger in South America and affects spinners and weavers relatively more. Sixty-eight percent of respondents also rated inventory levels as average. The number of companies reporting high inventory levels is higher in Asia and Europe. Among segments, it is the highest for home textile producers.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Look-business-pakistan%27s-cotton-fiber-poyster-usman-naseem-market-sindh
A look at Pakistan's cotton business The local cotton market was upbeat on Wednesday with low trading volume. Cotton analyst Naseem Usman said that the price of cotton in Sindh is Rs 17 to 20 thousand per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 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 20,000 per head. Polyester fiber was available at Rs 375 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Weakens-rupee-dollor-against-evening-closed-rupee-sensex-market
Polyester companies in China under pressure from upstream and downstream sectors The polyester market has been suppressed by the downstream and upstream sectors since late March. As of April 13, the operating rate of both DTY plants and fabric mills in Zhejiang and Jiangsu fell to 65%, down 27% and 11% from previous highs. Polyester companies faced selling pressure when downstream plants were unwilling to buy with higher raw material prices.With cost and sales pressure, the polyester sectors also suffered obvious losses. The shortage of traditional POY and FDY was the most severe and the inventory of polyester products also started increasing. However, the polyester market is still highly flexible. The polyester polymerization rate only dropped to 87.8% by April 14, from an earlier high of 90.9% at the end of March. The all new polyester units produced PFY.Polyester companies faced difficulty in cutting production. On the one hand, small and medium-sized polyester companies have steadily reduced production. Factories also need to consider the issue of labor after production has come to a standstill. On the other hand, the leading companies do not appear to be as united as last year, with independent operations as per their status. Therefore, it would be difficult for them to discuss joint production cuts in the short run, even if they suffered losses.With feedstock futures moving strong on April 14, polyester companies were forced to cut prices to promote. Based on the spot raw material price on April 14, the loss of POY150D/48F exceeded 500 yuan/mt and the loss of FDY150D/96F exceeded 400 yuan/mt. Downstream buyers pushed up PFY's sell ratio, which stood at 300% as recently as April 14.After intensive replenishment on April 14, PFY stocks at DTY plants and textile mills may guarantee production till next week. Hence PFY sales are expected to remain low. The holiday plans of DTY plants and textile mills for the May Day holiday (April 29-May 3) next week should be highly concerned, as well as PFY sales at the end of April. Whether PFY plants will cut prices to re-promote amid a rising feedstock market, further observation is needed.Therefore, some market participants thought that inventory rather than losses in polyester companies was the most important factor influencing production cuts. The current inventory of PFY was reduced to only half that of 2022. In such a situation, some players have concluded that polyester companies cannot simply temporarily cut production when the inventory burden is not clear, at least not see a large-scale production reduction. The upstream feedstock market is optimistic again.Hengli Petrochemical announced that a 2,500kt/year PTA unit in Dalian will have a scheduled turnaround from mid-April 17. Buoyed by this news, PTA futures performed strongly. Polyester companies are more likely to face rising inventories in April, when operating rates at DTY plants and fabric mills fall sharply from March. The polyester industry is now facing a growing contradiction. How long polyester companies can survive amid losses and steady sales pressure needs to be watched further.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Weakens-rupee-dollor-against-evening-closed-rupee-sensex-market
चीन में पॉलीस्टर कंपनियां अपस्ट्रीम और डाउनस्ट्रीम सेक्टरों के दबाव से संकट में मार्च के अंत से डाउनस्ट्रीम और अपस्ट्रीम सेक्टरों द्वारा पॉलिएस्टर बाजार को दबा दिया गया है। 13 अप्रैल तक, झेजियांग और जियांगसू में डीटीवाई संयंत्रों और फैब्रिक मिलों दोनों की परिचालन दर गिरकर 65% हो गई, जो पिछले उच्च स्तर से 27% और 11% कम है। पॉलिएस्टर कंपनियों को बिकवाली के दबाव का सामना करना पड़ा जब डाउनस्ट्रीम प्लांट उच्च कच्चे माल की कीमत के साथ खरीदने के लिए तैयार नहीं थे।लागत और बिक्री के दबाव के साथ, पॉलिएस्टर क्षेत्रों को भी स्पष्ट नुकसान का सामना करना पड़ा। पारंपरिक पीओवाई और एफडीवाई की कमी सबसे गंभीर थी और पॉलिएस्टर उत्पादों की सूची भी बढ़ने लगी थी। हालांकि, पॉलिएस्टर बाजार में अभी भी अत्यधिक लचीलापन है। पॉलिएस्टर पोलीमराइज़ेशन दर केवल 14 अप्रैल तक घटकर 87.8% हो गई, जो कि मार्च के अंत में पहले उच्च 90.9% थी। सभी नई पॉलिएस्टर इकाइयों ने पीएफवाई का उत्पादन किया।पॉलिएस्टर कंपनियों को उत्पादन में कटौती करने में कठिनाई का सामना करना पड़ा। एक तरफ, छोटे और मध्यम आकार की पॉलिएस्टर कंपनियों ने लगातार उत्पादन घटाया है। उत्पादन ठप होने के बाद फैक्ट्रियों को मजदूरों के मुद्दे पर भी विचार करने की जरूरत है। दूसरी ओर, अग्रणी कंपनियाँ पिछले साल की तरह एकजुट नहीं दिख रही हैं, अपनी स्थिति के अनुसार स्वतंत्र संचालन के साथ। इसलिए, उनके लिए कम समय में संयुक्त उत्पादन में कटौती पर चर्चा करना कठिन होगा, भले ही उन्हें नुकसान उठाना पड़ा हो। 14 अप्रैल को मजबूत बढ़ते फीडस्टॉक वायदा के साथ, पॉलिएस्टर कंपनियों को प्रचार के लिए कीमतों में कटौती करने के लिए मजबूर होना पड़ा। 14 अप्रैल को हाजिर कच्चे माल की कीमत के आधार पर, POY150D/48F की हानि 500 युआन/mt से अधिक हो गई और FDY150D/96F की हानि 400युआन/mt से अधिक थी। डाउनस्ट्रीम खरीदारों ने पीएफवाई के बिक्री अनुपात को बढ़ाया, जो हाल ही में 14 अप्रैल को 300% पर कम हो गया था।14 अप्रैल को गहन पुनःपूर्ति के बाद, डीटीवाई संयंत्रों और कपड़ा मिलों के पीएफवाई स्टॉक अगले सप्ताह तक उत्पादन की गारंटी दे सकते हैं। इसलिए पीएफवाई की बिक्री कम रहने का अनुमान है। मई दिवस की छुट्टी (अप्रैल 29-मई 3) के लिए DTY संयंत्रों और कपड़ा मिलों की छुट्टी योजना अगले सप्ताह अत्यधिक चिंतित होनी चाहिए, साथ ही अप्रैल के अंत में PFY की बिक्री भी। बढ़ते फीडस्टॉक बाजार के बीच पीएफवाई संयंत्र फिर से प्रचार के लिए कीमतों में कटौती करेंगे या नहीं, इसके लिए अभी और अवलोकन की आवश्यकता है।इसलिए, कुछ बाजार सहभागियों ने सोचा कि पॉलिएस्टर कंपनियों में नुकसान के बजाय इन्वेंट्री उत्पादन कटौती को प्रभावित करने वाला सबसे महत्वपूर्ण कारक था। पीएफवाई की वर्तमान इन्वेंट्री 2022 की तुलना में केवल आधी रह गई थी। ऐसी स्थिति में, कुछ खिलाड़ियों ने यह निष्कर्ष निकाला कि पॉलिएस्टर कंपनियां आसानी से अस्थायी रूप से उत्पादन में कटौती नहीं कर सकती हैं, जब इन्वेंट्री का बोझ स्पष्ट नहीं है, कम से कम बड़े पैमाने पर उत्पादन में कमी नहीं दिखाई देगी। अपस्ट्रीम फीडस्टॉक मार्केट फिर से आशावादी हो गया है।हेंगली पेट्रोकेमिकल ने घोषणा की कि डालियान में एक 2,500kt/वर्ष की पीटीए इकाई का 17 अप्रैल के मध्य से निर्धारित टर्नअराउंड होगा। इस खबर से प्रभावित होकर, पीटीए वायदा ने जोरदार प्रदर्शन किया। पॉलिएस्टर कंपनियों को अप्रैल में बढ़ती इन्वेंट्री का सामना करने की अधिक उम्मीद है, जब डीटीवाई संयंत्रों और फैब्रिक मिलों की परिचालन दर मार्च में तेजी से गिरती है। पॉलिएस्टर उद्योग अब बढ़ते विरोधाभास का सामना कर रहा है। नुकसान और स्थिर बिक्री के दबाव के बीच पॉलिएस्टर कंपनियां कब तक झेल पाएंगी, इस पर अभी और निगरानी की जरूरत है।👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Mukable-kamjor-paise-repya-dollor-sham-sensex
Rupee weakens by 18 paise against dollarThis evening, the rupee closed at a level of 82.22 against the dollar with a weakness of 18 paise.Sensex fell 159 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 59567.80 points with a fall of about 159.21 points.On the other hand, the Nifty closed at a level of 17618.80 points with a fall of 41.40 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/China%27s-cotton-subsidy-policy-bring-positive-impact-cellulose-fiber-
China's new cotton subsidy policy may bring a positive impact on cellulose fiberOn 10 April, the National Development and Reform Commission and the Ministry of Finance jointly issued “Notice of the Ministry of Finance on Improving the Implementation Measures of the Cotton Target Price Policy”. According to which-China began regulating the cotton market in 2014 by setting a target price, which stood at 19,800 yuan/MT during the year. Before 2017 one year fixed strategy was adopted and from 2017 it was changed to three year fixed strategy.In the 2020 notice, the description of the quantity was changed to "Xinjiang Uygur Autonomous Region and Xinjiang Production and Construction Corps". Guidance has been described, but implementation in practice is limited due to a lack of specific quantitative guidelines.The clarification of the subsidy cap of 5.1 million tonnes in 2023 is actually a clear quantification of this target. This policy is, therefore, an inevitable consequence of the management of sub-optimal cotton areas.What can be changed from the policy?According to the latest data for the 2022/23 cotton year, Xinjiang's cotton production could reach 6.13 million tons, far exceeding the subsidy amount of 5.1 million tons, which could result in the following:1. Cotton supply is expected to decrease, and cotton futures may move higher. Futures contract prices are likely to exceed 16,000 yuan/MT.2. Some cotton farmers may choose to plant other crop varieties, but according to the actual situation, Xinjiang's cotton production in normal years is about 5.6 million tons, and about 10% of cotton is not subsidized. In the absence of subsidies, even if cotton is sold at 16,000 yuan/mt, it is acceptable to some cotton farmers. Therefore, the actual decline in cotton production cannot be less than 5.1 million tonnes quickly.3. For the spinning and weaving mills, when the cotton supply in Xinjiang is short, there are two ways to deal with it. One is to increase the amount of imported cotton and imported yarn, and the other is to use other fibers as raw materials. Among them, the closest to cotton is cellulose fiber, including viscose staple fiber and lyocell staple fiber.This is undoubtedly a good thing for cellulose fibers, but it should not be too aggressive. We tried to quantitatively analyze that the cotton subsidy reduction in Xinjiang is about 500kt, and the potential drop in cotton production is not expected to exceed 300kt in the short term. The reductions will be complemented by imported cotton and yarn, and the volumes eventually squeezed into other fibers may not exceed 200kt. In a potential market share of 200kt, polyester staple fiber may also get a share, and demand for cellulose fiber may be just above 100kt.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Shortage-center-import-amid-duty-sima-cotton-export-waive-declined
SIMA urges Center to waive import duty amid cotton shortageAs cotton shortages persist, the South Indian Mills Association (SIMA) on Tuesday urged the central government to impose an 11 per cent duty on cotton from April to October to ensure raw material security, avoid large-scale production shutdown and shortfall in exports. requested for exemption.In a statement, SIMA said cotton textile exports have declined by over 23 per cent compared to the previous year and advocated that cotton be made available to the manufacturing sector at an internationally competitive price.The Center had imposed an 11 per cent import duty on cotton in 2021-22 to protect the livelihood of Indian cotton farmers, due to which the price of domestic cotton had increased due to the import parity pricing policy adopted by the trade. Though the area under cotton has increased from 124 lakh hectare to 130 lakh hectare, the cotton crop in the current season is expected to be around 320 lakh bales.SIMA president Ravi Sam said that the price of cotton has fallen by more than 25 per cent compared to last year and more than 40 per cent cotton is yet to come in the market. Stating that farmers and traders are apprehensive of a price hike, leading to a persistent shortage of cotton, Sam said the Center should provide duty exemption for cotton."It will take three to four months for the imported cotton to reach the mill premises and hence it is necessary to remove the import duty immediately so that mills can enter into import contracts," he said. He also said that India's cotton yarn exports declined to 485 million kg during April 2022 to January 2023, as against 1185 million kg during the same period last year.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Head-hiked-cotton-price-spot-pakistan-naseem-usman-rate-spot
Pakistan's cotton spot price hiked by Rs 300 per head The spot rate committee of the Karachi Cotton Association (KCA) on Tuesday hiked the spot rate by Rs 300 per head and closed it at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.The local cotton market was booming and the volume of business was satisfactory. Cotton analyst Naseem Usman told that the price of cotton in Sindh is 17 thousand to 20 thousand rupees per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 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.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Sensex-dollor-nifty-weakens-rupee-against-closing-market
Rupee weakens by 7 paise against dollarThis evening, the rupee closed at a level of Rs 82.04 against the dollar with a weakness of 7 paise.Sensex down 184 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 59727.01 points with a fall of 183.74 points.On the other hand, the Nifty closed at the level of 17660.20 points with a fall of 46.60 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Intercontinental-exchange-india%27s-cotton-export-forecast-bales-economic-cooperation-trade-agreement
India's cotton export forecast for April 2023 slashed to 1.8 million balesIndian cotton exports for 2022-23 are forecast to decline by 500,000 bales to 1.8 million in April 2023, roughly equal to its import forecast. Exports have historically exceeded imports by a significant margin, and the last time imports exceeded exports was about 20 years ago. Reduced domestic supply, increased demand for overseas long and extra-long staple grades and the Australia-India Economic Cooperation and Trade Agreement (ECTA) have supported this recent dynamic.2022-23 opening stocks and production totals are estimated to be at a 14-year low of 33.1 million bales, putting considerable pressure on exports. Also, according to the United States Department of Agriculture report, Indian spot prices relative to global prices have increased at the beginning of the year due to a tight supply of cotton, slowing shipments to major markets including China.India has recently become the largest consumer of long and extra long staple cotton. As tall and extra tall cotton is not grown adequately in the country. So the Egyptian Giza 94 and the US Pima are imported. Thus India will remain a stable source of import demand for this variety of cotton.Despite being forecast to be the third largest exporter in 2022-23 with 1.8 million bales, exports are projected to be significantly lower than the 6.2 million bales exported in 2021-22. Global ending stocks are estimated to range from 900,000 bales to close to 92.0 million, with an upward projection mostly for China, India and Brazil, the report said.The US balance sheet is comprised of higher exports and lower end stocks than last month. Estimated US season-average farm prices are forecast to be lower by 1 percent to 82 cents per pound. Global cotton prices were mostly down since last month's WASDE, with prices on the Intercontinental Exchange (ICE) at around 83 cents a pound.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Trading-market-slow-pakistan-cotton-usman-naseem-increase-expected-transport
Slow trading in Pakistan's cotton marketThe local cotton market was upbeat on Monday with low trading volume. Cotton analyst Naseem Usman pointed out that unavailability of transport was behind the low trading volumes. It is expected to increase further after the Eid al-Fitr holidays.He also informed that the price of cotton in Sindh ranges between Rs 17,000 to Rs 20,000 per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 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. Rahim Yar Khan sold for 5600 bales at Rs.21,000 per head (condition) and Marrot (323 bales) at Rs.19,300 per head. The spot rate remained unchanged at Rs 19,700 per head.The rate of polyester fiber was increased by Rs 2 and was available at Rs 375 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Dollor-against-nifty-sensex-rupee-closing-weakens-market-stock
| title | Created At | Action |
|---|---|---|
| Rupee weakens by 1 paise against dollars | 25-04-2023 23:53:41 | view |
| Rupee strengthened by 19 paise against dollar | 24-04-2023 23:56:05 | view |
| Traders estimate, there will be cotton boom in the mandis in the coming few weeks | 24-04-2023 23:46:11 | view |
| Textile units in Gujarat rapidly shifting to polyester, viscose | 24-04-2023 20:08:32 | view |
| Confusion over Indian cotton production, stakeholders estimate total production at 337.23 lakh bales | 22-04-2023 22:17:29 | view |
| Rupee strengthened by 6 paise against dollars | 21-04-2023 23:31:08 | view |
| Good news: child labor almost eliminated in Telangana's cotton fields | 21-04-2023 19:55:07 | view |
| Vietnam's exports fell 14.8% in March | 21-04-2023 19:09:49 | view |
| Rupee strengthened by 8 paise against dollarS | 20-04-2023 23:24:20 | view |
| Despite negativity, global textile trade hopes up: ITMF | 20-04-2023 19:18:22 | view |
| A looks at Pakistan's cotton business | 20-04-2023 18:38:29 | view |
| Polyester companies in China under pressure from upstream and downstream sectors | 20-04-2023 01:03:41 | view |
| चीन में पॉलीस्टर कंपनियां अपस्ट्रीम और डाउनस्ट्रीम सेक्टरों के दबाव से संकट में.. | 20-04-2023 01:00:27 | view |
| Rupee weakens by 18 paise against dollarS | 19-04-2023 23:31:24 | view |
| China's new cotton subsidy policy may bring a positive impact on cellulose fiber | 19-04-2023 22:51:01 | view |
| SIMA urges Center to waive import duty amid cotton shortage | 19-04-2023 21:19:13 | view |
| Pakistan's cotton spot price hiked by Rs 300 per head | 19-04-2023 18:42:27 | view |
| Rupee weakens by 7 paise against dollars | 18-04-2023 23:36:42 | view |
| India's cotton export forecast for April 2023 slashed to 1.8 million bales | 18-04-2023 21:47:11 | view |
| Slow trading in Pakistan's cotton markets | 18-04-2023 18:41:55 | view |
