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
BCI signs MoU with Tajikistan to support sustainable cotton productionThe Better Cotton Initiative (BCI) has signed a memorandum of understanding with the Ministry of Agriculture of Tajikistan to further support the production of more sustainable cotton across the Central Asian country. The MoU was signed at the recently held Tajikistan Investment and Development Forum in London by Better Cotton Director, Rebecca Owen, and Tajikistan's Minister of Agriculture, HE Qurban Khakimzoda.It establishes that Better Cotton and the Ministry will develop a strategic roadmap for more sustainable cotton production in Tajikistan in accordance with the Better Cotton Standards System, taking into account the requirements of the global market. It aims to prioritize the expansion of more sustainable cotton production with a focus on both environmental and social consequences. In particular, improvement in cotton fiber quality, farmer welfare and overall agricultural sustainability are in scope.Based on the collaboration, both sides will conduct nationwide outreach and awareness activities to promote the benefits of more sustainable growing practices, while adopting practical innovations will be explored to determine how domestic farmers can improve . The organization says that fundamental to this change will be the availability and allocation of financial resources. To this end, Better Cotton states that it will work with the ministry to identify new sources of funding and investment that can unlock new opportunities in the country's cotton sector.Rebecca Owen, said: "This MoU will create opportunities to improve livelihoods, welfare and market access for cotton farming communities." Better Cotton says its program in Tajikistan has already shown results. In the 2019-2020 cotton season, synthetic fertilizer use among improved cotton farmers was 62% lower than comparison farmers, while yields were 15% higher.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Hiked-pakistan-spot-rate-cotton-head-kca-closed-committee-market
Cotton sowing started in Muktsar, fearing loss, most of the farmers turn towards paddyRain-affected farmers in Muktsar may abandon cotton for paddy as the cost of the cash crop is high, paddy is safe.The inclement weather has worried the cotton growers of the district, who are looking to dump this cash crop in favor of paddy. According to them, cotton sowing is more labor intensive and costs more and in case of its failure, they will suffer huge losses. Cotton sowing has started in the region and will continue till mid-May. Since wheat harvesting has been delayed due to recent rains, farmers who have harvested mustard are now sowing cotton.Farmer Jagjit Singh, who visited the district administrative complex to know the status of Girdawari of his damaged wheat crop, said the weather remained unpredictable this time. “We have already suffered losses due to the failure of the wheat crop. If the weather remains uncertain, we will have to turn to paddy again."Meanwhile, it rained again in some parts of the district today. Muktsar Chief Agriculture Officer Gurpreet Singh said that cotton sowing has started. Last year, against the target of 45,000 hectares, the crop was sown in 33,000 hectares in the district. This year we will try to increase the area under this crop while some farmers want to stick to paddy. But the soil is suitable for cotton and farmers will definitely opt for it.”👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Hiked-pakistan-spot-rate-cotton-head-kca-closed-committee-market
Pakistan cotton spot rate hiked by Rs 300 per headThe spot rate committee of the Karachi Cotton Association (KCA) on Monday increased the spot rate by Rs 3,00 per head and closed it at Rs 19,000 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. The rate of polyester fiber was increased by Rs 5 and was available at Rs 363 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Restored-pakistan-demand-textile-industry-energy-ampta-tcp-rated-zero
Rupee weakens by 17 paise against dollarThis evening, the rupee closed at a level of 82.33 against the dollar with a weakness of 17 paise.Sensex closed up by 115 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 59106.44 points with a gain of about 114.92 points.At the same time, the Nifty closed at the level of 17398.00 points with a gain of 38.20 points.
Demand of Pakistan textile industry, zero rated energy should be restoredPakistan textile industry is on the verge of collapse and has demanded that zero rated energy should be restored and pending refunds should be released immediately. All Pakistan Textile Mills Association (AMPTA) has already written a letter to the Prime Minister of Pakistan in this regard.Industry sources say that the Trading Corporation of Pakistan (TCP) is likely to intervene if the price of footy remains below the intervention price. However, Pakistan Readymade Garments Manufacturers and Exporters say that pending refunds should be paid instead of sending audit notices. Separately, Pakistan Kisan Ittehad has appealed to the government to immediately impose agricultural emergency in the country. On the other hand, Pakistan yarn traders have rejected the huge hike in electricity and gas rates.People associated with the textile sector have been continuously complaining that the biggest foreign exchange earner and the biggest employment provider sector is on the verge of collapsing due to the lack of attention of the government. More than 50 per cent mills and other sectors have already closed. It seems that the revival of this sector is difficult in the coming days as the crisis is getting deeper. According to the Textile Value Added Sector, he was supposed to meet the Prime Minister four times, but unfortunately he could not meet the Prime Minister.Central leader of Value Added and Hosiery Association Javed Balwani said in the meeting of other representatives of the sector that it seems that the government and the Prime Minister do not care about them and they are shying away from meeting them despite being invited. It seems that they want the exporters to leave the country and invest in some other country. “Now we will contact the Prime Minister or the establishment etc. on Zoom.” He also said that if the government is unable to solve our problems then we will look to Almighty Allah to solve our problems in the holy month of Ramzan. According to some reports, some industrialists are ready to shift their business abroad.Meanwhile, Asif Inam, president of the All Pakistan Textile Mills Association, said in an interview that the country's textile sector is on the verge of bankruptcy due to the negligence of the government. In this difficult situation it has become impossible to run any industry including textile industry when interest rate is at all time high, increase in gas rate by Rs 45 per unit will only create difficulty in importing cotton.He said that the target of textile exports this year was estimated to be around $26 billion, but due to lack of interest and inappropriate steps taken by the government, textile exports would remain less than $19 billion. He also said that the entire industrial set up is in serious trouble due to the lack of interest shown by the government.It is being feared that the country's total exports will decrease by $ 10 billion. The textile sector is running at 50% capacity. Some mills are running partially. If the situation remains like this, there is a possibility of closure of other mills as well. Already unemployment has risen in the country and exports have been at an all-time low. The industry demands that the government should take note of the situation and immediately focus on industry and agriculture so that the poverty level in the country can be reduced.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Review-pakistan-cotton-weekly-punjab-volume-trading
Pakistan Weekly Cotton ReviewThe cotton market witnessed a mixed trend last week amid low trading volumes. In the domestic cotton market, textile mills showed little interest in buying cotton during the last one week, while trading remained sluggish despite efforts by ginners to offload their cotton stocks.However, cotton sowing has already started in the low-lying areas of Sindh province and if the weather remains favourable, partial arrival of cotton will start by the end of May. The price of cotton in Sindh is Rs 16,700 to Rs 18,500 per head. The rate of footi is 6 thousand to 8 thousand rupees per 40 kg. The price of cotton in Punjab is between Rs.👇🏻👇🏻👇🏻👇🏻https://www.smartinfoindia.com/hi/news-details-hindi/India-malaysia-announce-trade-indian-rupee-ministry-external-affairs
India and Malaysia announce trade in Indian RupeeThe Ministry of External Affairs announced on April 1, 2023 that India and Malaysia have agreed to settle trade in the Indian Rupee. The announcement comes against the backdrop of ongoing official efforts to protect Indian business from the impact of the Ukraine crisis. The move away from the US dollar, which has so far been the major reserve currency for international trade, assumes significance as it indicates that India is ready to take concrete steps towards dollarization of its international trade."Trade between India and Malaysia can now be settled in Indian Rupee (INR) in addition to the existing modes of settlement in other currencies. This is in line with the decision of the Reserve Bank of India to allow settlement of international trade in Indian Rupee (INR) in July 2022. This initiative of RBI is aimed at facilitating the growth of global trade and supporting the interests of the global business community in the Indian Rupee,” announced the Ministry of External Affairs.Trading in the US dollar has been difficult since the Russian economy was sanctioned by Western powers after President Putin launched a so-called "special military operation" against Ukraine on February 24, 2022. As a result of the sanctions—and the war—it became increasingly difficult to make payments to Russia in US dollars which in turn triggered a worldwide search for solutions for national currencies and de-dollarization."The Kuala Lumpur-based India International Bank of Malaysia (IIBM) has operationalized this mechanism by opening a special Rupee Vostro Account through its correspondent bank in India, ie, Union Bank of India," said the official announcement.
| title | Created At | Action |
|---|---|---|
| Rainfall expected to be 96% (+-5%) of the country's average: M Mohapatra, IMD DGM | 11-04-2023 21:54:07 | view |
| Rupee weakens by 9 paise against dollars | 11-04-2023 00:31:14 | view |
| India likely to receive below normal rainfall in 2023 due to El Nino | 10-04-2023 23:45:39 | view |
| Bangladesh Textile Mills Association demands temporary ban on import of cotton yarn | 10-04-2023 23:32:43 | 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 21:31:25 | view |
| Weekly Review of Pakistan Cotton Market | 10-04-2023 19:48:16 | view |
| Pink bollworm management a big challenge: Cotton experts | 08-04-2023 01:21:46 | view |
| Domestic cotton production in Pakistan at four-decade low | 08-04-2023 01:07:42 | view |
| Pakistan's cotton spot price rises by Rs 300 per maund | 07-04-2023 19:08:40 | view |
| Cluster idea for cotton and food sector in Khargone | 06-04-2023 19:34:08 | view |
| Telangana emerges as the third largest cotton producer in India | 06-04-2023 19:03:28 | view |
| Rupee strengthened by 33 paise against dollar | 05-04-2023 23:32:59 | view |
| Strong trend continues in Pakistan's cotton market | 05-04-2023 19:01:09 | view |
| BCI signs MoU with Tajikistan to support sustainable cotton production | 04-04-2023 20:48:26 | view |
| Cotton sowing started in Muktsar, fearing loss, most of the farmers turn towards paddy | 04-04-2023 20:09:49 | view |
| Pakistan cotton spot rate hiked by Rs 300 per head | 04-04-2023 18:42:48 | view |
| Rupee weakens by 17 paise against dollar | 03-04-2023 23:32:23 | view |
| Demand of Pakistan textile industry, zero rated energy should be restored | 03-04-2023 20:09:29 | view |
| Pakistans Weekly Cotton Review | 03-04-2023 19:48:21 | view |
| India and Malaysia announce trade in Indian Rupee | 01-04-2023 22:56:35 | view |
