Australia’s Cotton Crop Outlook Improves After Heavy RainsThe outlook for Australia’s cotton crop has improved following a deluge of rain across growing regions last year that prompted some farmers to boost their planting, according to the nation’s industry group.Cotton Australia expects production to be at 4.5 million barrels for 2023-24, the top of its previously estimated range, according to Chief Executive Officer Adam Kay. The group warned in October — prior to rains — that the outlook was mixed due to the onset of El Niño, which typically brings drier conditions.Vast parts of eastern Australia has been inundated by heavy rains and flooding since at least October, including a tropical cyclone that damaged sugar crops in Queensland. The wet weather has benefited so-called dryland cotton producers, which rely on rain and stored soil moisture to support plant growth.Cotton is primarily grown in Queensland and New South Wales, and the harvest typically begins around March or April. In early October, Cotton Australia forecast output of 4 million to 4.5 million bales for 2023-24, compared with 5.5 million bales the previous season.
Cotton farmers block traffic in AboharIn protest against the Cotton Corporation of India’s (CCI) alleged reluctance to purchase of narma cotton at MSP, hundreds of farmers spent last night outside the New Grain Market here, continuing their chakka jam protest.Although talks took place between the administration and CCI officials, the issue could not be resolved. The protesting farmers also made toll plazas on two different stretches of the highway toll-free by coercion.Some administrative officers reached the dharna site and tried to persuade the farmers to end their agitation, but they did not budge. Later, the administration held a meeting with CCI officials but deadlock continued.Sanyukta Kisan Morcha spokesperson Nirmal Singh said that CCI, after an agreement on Saturday, had resumed purchase on Monday, but out of a total 150 stacks, only 27 were selected. Out of these, 17 stacks were rejected when the produce reached the cotton factory. He alleged that CCI staff declared the stacks ineligible for purchase without analysing the produce for quality.CCI procurement officer Gurdeep Singh said purchasing narma cotton is problematic because the crop got affected by pink bollworm and rain. He said CCI's quality conditions for cotton purchase cannot be compromised, and this has led to problems.
Today the rupee became stronger against the dollar. The rupee opened strongly against the dollar today. Today, the rupee opened with a strengthening of 1 paise at Rs 83.03 against the dollar. At the same time, on Wednesday, the rupee strengthened by 8 paise and closed at Rs 83.04 against the dollar.Nifty and Sensex opened with further gains today Today, BSE Sensex opened at the level of 71924.82 points with a gain of about 267.11 points. Whereas NSE's Nifty opened at 21699.00 points with a gain of 80.30 points. Today, trading started in a total of 2,061 companies in BSE.
The rupee strengthened by 8 paise and closed at Rs 83.04 against the dollar.Share market closed without any trend, Sensex rose by 272 pointsToday the stock market kept going up and down without any direction. Whenever the stock market went up, there was selling and whenever it came down, there was buying. Sensex closed at the level of 71657.71 points with a gain of about 271.50 points. Whereas Nifty closed at the level of 21618.70 points with a gain of 73.90 points.
Rupee fell against dollar today, opened 6 paise weaker The rupee opened with weakness against the dollar today. Today the rupee opened with a weakness of 6 paise at Rs 83.18 against the dollar. At the same time, on Tuesday, the rupee strengthened by 2 paise and closed at Rs 83.12 against the dollar.Nifty and Sensex had a flat start today, opened with Today BSE Sensex opened with a fall of 3.01 points at the level of 71383.20 points. Whereas NSE's Nifty opened with a gain of 13.00 points at the level of 21531.80 points.
Stock market closed with gains for the second consecutive dayToday the Sensex closed at the level of 71386.21 points with a gain of about 30.99 points. Whereas Nifty closed at the level of 21544.80 points with a gain of 31.80 points.This evening the dollar fell by 2 paise and closed at Rs 83.12 against the rupee.
Rupee strengthened against dollar today, opened 6 paise stronger The rupee opened strongly against the dollar today. Today the rupee opened 6 paise stronger at Rs 83.08 against the dollar. At the same time, on Monday, the rupee strengthened by 1 paise and closed at Rs 83.14 against the dollar.Sensex and Nifty opened with huge gainsToday, BSE Sensex opened at 71770.91 points with a gain of about 415.69 points. Whereas NSE's Nifty opened at 21640.50 points with a gain of 127.50 points. Today trading started in a total of 2,151 companies in BSE.
Spinning sector is to make up for slow pace exports, says CITITextile mill associations asked for financial assistance for India’s spinning sector, which has been harmed by the ongoing Ukraine-Russia crisis, the current Israel-Hamas war, an 11 per cent import levy on cotton, and challenges connected to Quality Control Orders on man-made fibre.The Confederation of Indian Textile Industry (CITI) requested that the one-year moratorium on principal repayment be extended, and that three-year loans under the Emergency Credit Line Guarantee Scheme (ECLGS) be converted into six-year term loans.Rakesh Mehra, chairman of CITI, also advocated for the extension of “necessary funding to alleviate the strain on working capital, on a case-by-case basis” to eliminate the unforeseen crisis afflicting the textile sector, prevent job losses of several lakh people, maintain market share, and meet the anticipated export targets.Under the ECLGS, the textile industry got essential support of Rs. 16,920 crore, accounting for nearly 6 per cent of the overall payout of Rs. 2.82 lakh crore as of 30th September 2022.As per CITI, the spinning segment is presently in a serious crisis, with a 50 per cent loss in the value of cotton yarn exports of goods, a 23 per cent drop in overall cotton textile exports, and an 18 per cent drop in total textiles and apparel items for the fiscal year 2022-23 compared to 2021-2022.
The rupee strengthened by 1 paise and closed at Rs 83.14 against the dollar.Heavy fall in stock market, Sensex closed down by 671 points and Nifty by 198 points.Today Sensex closed at 71355.22 points with a fall of 670.93 points. Whereas Nifty closed at the level of 21513.00 points with a fall of 197.80 points.
Rupee opened 6 paise stronger against dollar The rupee opened strongly against the dollar today. Today the rupee opened 6 paise stronger at Rs 83.09 against the dollar. At the same time, on Friday, the rupee strengthened by 8 paise and closed at Rs 83.15 against the dollar.Slight rise in Nifty and Sensex today Today BSE Sensex opened at 72079.45 points with a gain of about 53.30 points. Whereas NSE's Nifty opened with a gain of 21.70 points at the level of 21732.50 points. Trading started today in a total of 2,456 companies on BSE.
Bangladesh's man-made fiber imports are increasingImports of man-made fibers by Bangladeshi apparel exporters are increasing, indicating increasing use of non-cotton in diverse apparel manufacturing to capture a larger share of the emerging global market for such new textiles.In exporters' bid to meet the rapid changes in demand for textiles across the globe, imports of quality non-cotton fibers have increased by more than 13 per cent in the last calendar year, industry sources said .In a sharp change, in the year 2021, the global apparel-market size was $440 billion, with MMF-based apparel market expanding by $222 billion or 51 percent and cotton-based by $190 billion or 42 percent, a research in taste change has shown .According to Bangladesh Textile Mills Association (BTMA) data, Bangladesh imported 0.21 million tonnes of polyester and viscose fiber during the January-November period of 2023.Imports were 13.39 per cent higher than the 0.18 million tonnes purchased during the same period in 2022, the data showed.According to industry people, Bangladesh largely manufactures cotton-based apparel as 75 percent of readymade apparel sent for export is made of cotton.But, in recent times, the use of non-cotton or man-made fibers has been increasing, although the percentage has still not reached satisfactory levels, he said, and called for government policy support.Asked about the change, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) vice-president Fazli Ehsan Shamim said MMF imports have increased in recent times in a sign of the growing use of non-cotton fibres.“This means we are producing both new products and value-added goods,” he said, adding that global demand for such goods has been increasing in the last few years.However, Mr Shamim feels that they need 'supportive' policy measures, especially customs related measures, to encourage entrepreneurs to move to such non-cotton sectors and attract investments.Farooq Hasan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), recently said that they aim to reach exports worth US$100 billion by 2030.“Diversification of products, fibers and markets are our key priorities to achieve that level,” he said.In recent years, he said, they have made significant investments in high value-added segments such as active wear, outwear, denim, lingerie, suits, fancy dress and formal wear.BGMEA is also working to develop luxury attire for women using age-old heritage materials Jamdani and Muslin fabrics, while the trade body is also working towards efficiency enhancement in terms of new product development and innovation, efficiency and profession skill enhancement and creation of Also focusing on capacity development. Tech-savvy industry.The trade body of apparel manufacturers and exporters has on various occasions demanded 10 per cent cash incentive for MMF-based apparel manufacturing.An exporter said production of MMF commodities requires huge investment in backward linkages and few are willing to invest amid the absence of necessary infrastructure including adequate gas supply.Exporters believe that government policy support is necessary to attract investment in the production of man-made fiber based apparel – not only to increase value addition but also to meet post-graduation challenges and remain competitive.Sector leaders urged the government to provide requisite policy support including incentives for non-cotton or man-made fiber production and take effective measures to develop expertise and technology transfer in the sector.According to a research by Research and Policy Integration for Development (RAPID) in 2022, Bangladesh can earn US$95 billion by 2030 from ready-made garment (RMG) exports if the country expands its MMF-based production along with existing cotton-made garments. May increase apparel shipments. stuff.The expected volume of exports will require Bangladesh to achieve 12 per cent and 20 per cent share of the global MMF and cotton-based commodities market respectively.According to the research findings, the country's market share in global MMF-based and cotton-based apparel is less than 5.0 percent and 16 percent, respectively.Currently, almost half of the total global apparel exports are MMF products while 42 per cent are cotton based.In contrast, the majority or more than 72 percent of Bangladesh's apparel exports are cotton based, while only 24 percent is MMF.In a sharp change, in 2021, the global apparel-market size was $440 billion, of which the MMF-based apparel market was $222 billion or 51 percent, and the cotton-based apparel market was $190 billion or 42 percent, as shown Is.
This evening, the rupee strengthened by 8 paise and closed at Rs 83.15 against the dollar.Today Sensex closed at 72026.15 points with a gain of 178.58 points. Whereas Nifty closed at the level of 21705.30 points with a gain of 46.70 points.
Rupee strengthened by 2 paise against dollar The rupee opened strongly against the dollar today. Today the rupee opened 2 paise stronger at Rs 83.21 against the dollar. At the same time, on Thursday, the rupee strengthened by 5 paise and closed at Rs 83.23 against the dollar. Nifty and Sensex opened with huge gains even todayToday, BSE Sensex opened at the level of 72114.34 points with a gain of about 266.77 points. Whereas NSE's Nifty opened at 21742.30 points with a gain of 83.70 points. A total of 2,486 companies started trading on BSE today.
Brazil's cotton production reaches record levelCotton production in Brazil reached record levels in the 2022/23 season, driven by increases in both acreage and productivity. Global supply also increased. However, demand did not increase as availability increased, as adverse economic conditions drove players away from the business, limiting sales of manufactured goods. More supply than demand led to stockpiles, leading to a decline in domestic and international cotton prices.In Brazil, prices fell significantly from January to May, despite the offseason period, due to expectations of a good harvest and weak demand. Due to the higher surplus, exports should record a good performance in 2022/23, but trades were moving at a slower pace than anticipated in early 2023, as prices were not considered attractive by sellers.Between May and June, the monthly average was stable, but in July prices were at their lowest level of the year. In the following months, exports led to less fluctuations in the monthly average, which helped reduce the domestic surplus. 2023 also saw logistics issues and high transportation costs, as well as inconsistencies in product quality, limiting trade.In 2023, the CEPEA/ESALQ index for cotton fell 24.4%, closing at BRL 4.0230/pound on December 26. Between December 29, 2022 and December 26, 2023, export parity went down by 19.4%, impacted by a decrease of 11.5%. 8.6% devaluation of dollar quotes against the Coinlook A index and the real.2022/23 crop in Brazil - According to Conab, the 2022/23 area increased by 4% compared to the previous one, totaling 1.664 million hectares. Productivity was estimated at 1,907 kg per hectare, 19.5% higher than the previous season and a record. Cotton production in 2022/23 was projected to be 3.173 million tonnes, an increase of 24.2% over the previous year and the highest in history.USDA – Global production for 2022/23 increased by 1.8% compared to 2021/22, totaling 25.395 million tonnes and sustained by higher supplies in China, India and Brazil. The United States and Pakistan recorded significant declines during the same period.
This evening, the rupee strengthened by 5 paise and closed at Rs 83.23 against the dollar.Today the Sensex closed at the level of 71847.57 points with a gain of about 490.97 points. Whereas Nifty closed at the level of 21658.60 points with a gain of 141.30 points.
Rupee opened with weakness against dollar todayThe rupee opened with weakness against the dollar today. Today the rupee opened with a weakness of 3 paise at Rs 83.31 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 83.29 against the dollar with a weakness of 4 paise.Huge rise in Nifty and Sensex today Today BSE Sensex opened at 71678.93 points with a gain of about 322.33 points. Whereas NSE's Nifty opened at the level of 21600.30 points with a gain of 83.00 points. Today trading started in a total of 2,105 companies in BSE.
| title | Created At | Action |
|---|---|---|
| Australia’s Cotton Crop Outlook Improves After Heavy Rains | 11-01-2024 18:18:40 | view |
| Cotton farmers block traffic in Abohar | 11-01-2024 17:54:02 | view |
| Today the rupee became stronger against the dollar. | 11-01-2024 17:33:34 | view |
| *The rupee strengthened by 8 paise and closed at Rs 83.04 against the dollar* | 10-01-2024 23:35:44 | view |
| Rupee fell against dollar today, opened 6 paise weaker | 10-01-2024 16:58:03 | view |
| This evening the dollar fell by 2 paise and closed at Rs 83.12 against | 09-01-2024 23:44:17 | view |
| Rupee strengthened against dollar today, opened 6 paise stronger | 09-01-2024 16:56:48 | view |
| Spinning sector is to make up for slow pace exports, says CITI | 09-01-2024 01:33:07 | view |
| The rupee strengthened by 1 paise and closed at Rs 83.14 against | 09-01-2024 00:26:40 | view |
| Rupee opened 6 paise stronger against dollar | 08-01-2024 17:00:25 | view |
| Bangladesh's man-made fiber imports are increasing | 06-01-2024 00:31:04 | view |
| This evening, the rupee strengthened by 8 paise and closed at Rs 83.15 against the dollar. | 05-01-2024 23:29:27 | view |
| Rupee streng thened by 2 paise against dollar | 05-01-2024 17:22:22 | view |
| Brazil's cotton production reaches record level | 05-01-2024 00:59:36 | view |
| This evening, the rupee strengthened by 5 paise and closed at Rs 83.23 against the dollar. | 04-01-2024 23:29:40 | view |
| Rupee opened with weakness against dollar today | 04-01-2024 17:15:18 | view |
