U.S. EXPORT SALES FOR WEEK ENDING 14/10/2021 Cotton: Net sales of 391,800 RB for 2021/2022 were up noticeably from the previous week and up 20 percent from the prior 4-week average. Increases were primarily for China (272,800 RB, including decreases of 100 RB), Turkey (76,900 RB), Vietnam (15,800 RB, including 300 RB switched from Japan), Mexico (6,200 RB), and Bangladesh (5,000 RB, including decreases of 100 RB). Net sales of 63,900 RB for 2022/2023 were primarily for China (50,000 RB) and Turkey (13,200 RB). Exports of 117,400 RB were up 23 percent from the previous week, but down 16 percent from the prior 4-week average. The destinations were primarily to China (46,400 RB), Mexico (18,700 RB), Turkey (11,900 RB), Pakistan (9,600 RB), and Bangladesh (8,500 RB). Net sales of Pima totaling 23,900 RB--a marketing-year high--were up noticeably from the previous week and up 58 percent from the prior 4-week average. Increases were primarily for India (17,000 RB), Peru (2,800 RB, including decreases of 300 RB), and China (1,800 RB). Exports of 5,400 RB were down 49 percent from the previous week and 28 percent from the prior 4-week average. The destinations were primarily to India (4,500 RB), Austria (500 RB), and Peru (200 RB). Optional Origin Sales: For 2021/2022, the current outstanding balance of 8,800 RB is for Pakistan. Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance of 4,800 RB is for China (4,700 RB) and Vietnam (100 RB).
Today evening, the rupee strengthened by 1 paise to close at Rs 74.86 against the dollar.Sensex falls again, 336 points fallToday the stock market closed with a fall. Today, where the Sensex closed at the level of 60923.50 points, down by about 336.46 points. On the other hand, Nifty closed at 18178.10 points down by 88.50 points.
Rupee opens 1 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 1 paise at Rs 75.86 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 74.87 with a gain of 47 paise against the dollar.Sensex opens sharply, rises 269 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 268.70 points to open at the level of 61528.66 points. On the other hand, the Nifty of NSE opened with a gain of 85.70 points at the level of 18352.30
*All India Weather Forecast for October 21, 2021**Weather systems made across the country*A Low Pressure Area is over Bihar and adjoining region, with its associated cyclonic circulation extending up to 5.8 km above mean sea level.A Cyclonic Circulation is persisting over Central Uttar Pradesh.A trough is extending from the cyclonic circulation over Central Uttar Pradesh to the cyclonic circulation associated with the Low Pressure Area over Bihar.A trough is extending from South Interior Karnataka to South Coastal Tamil Nadu.A fresh Western Disturbance is expected to reach the Western Himalayas from October 22 and adjoining plains of Northwest India from October 23.*Weather movement across the country during the last 24 hours*During the last 24 hours, Sikkim and Sub-Himalayan West Bengal experienced moderate to heavy rain with very heavy rainfall at one or two places.Light to moderate rain with isolated heavy falls occurred over parts of Assam, Meghalaya, Arunachal Pradesh and East Uttarakhand.Light to moderate rain occurred over rest of Northeast India, parts of Bihar, Central and East Uttar Pradesh, Coastal Odisha and Tamil Nadu.Light rain occurred over Coastal Andhra Pradesh, Kerala, Lakshadweep, South Interior Karnataka and isolated parts of Madhya Pradesh and Chhattisgarh.*Possible weather activity during next 24 hours*During the next 24 hours, isolated light to moderate rain at isolated places over Sikkim, Sub-Himalayan West Bengal, Assam, Meghalaya, Arunachal Pradesh, Manipur, Nagaland, South Interior Karnataka, parts of Kerala and Tamil Nadu and East Bihar Heavy rain may occur at some places.Light to moderate rain may occur over Gangetic West Bengal, rest of Northeast India and Coastal Karnataka.Light rain is possible over remaining parts of Bihar, Coastal Andhra Pradesh, parts of Coastal Odisha, foothills of East Uttar Pradesh, Lakshadweep and Andaman & Nicobar Islands. *SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771*Smartinfoindia.com*https://wa.me/919111977775*
* Spot price increased by Rs 200 amidst select purchases **The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 200 per maund and closed it at Rs 14700 per maund.**The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 200 per maund and closed it at Rs 14700 per maund. The rate of polyester fiber was increased by Rs 2 per kg and was available at Rs 242 per kg.**Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained bullish and trading volume remained satisfactory.**The rate of cotton in Sindh is in between Rs 12000 to Rs 14800 per maund and the rate of cotton in Punjab is in between Rs 14500 to Rs 15000 per maund.**The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 6200 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5600 to Rs 6700 per 40 Kg. The rate of Banola in Sindh is in between Rs 14000 to Rs 2000 per maund. The rate of Banola in Punjab is in between Rs 2000 to Rs 2300 per maund. The rate of cotton in Balochistan is in between Rs 13800- 14800 per maund. The rate of Phutti in Balochistan is Rs 6000- 7500 per maund. 400 bales of Dherki, 600 bales of Sadiqabad, 3000 bales of Rahim Yar Khan, 600 bales of Khan Pur, 400 bales of Mir Pur Mathelo were sold at Rs 15000 per maund, 2000 bales of Khair Pur were sold at Rs 14000 to Rs 14400 per maund, 100 bales of Rohri were sold at Rs 14200 to Rs 14400 per maund and 1200 bales of Mian Wali were sold at Rs 14650 to Rs 14700 per maund.* *SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771*Smartinfoindia.com*https://wa.me/919111977775*
*Anticipating price hike, cotton growers hold back produce**Even as cotton has started fetching as high as Rs 8,300 per quintal this season against the MSP of Rs 5,925, its arrival in the mandis across the state is delayed.**The data gathered by The Tribune from the Cotton Corporation of India (CCI) revealed that so far (till October 20) only 3.75 lakh quintal of cotton has been purchased at mandis against 7 lakh quintal purchased during the previous season around the same period. Experts have attributed the decline in arrival to farmers’ anticipation of further upward movement in prices of cotton in the market.* *They also blamed pink bollworm attack for the late arrival of the crop. A senior functionary of the CCI said: “Farmers are testing the waters before they can take the plunge. Like industry experts, they also study market trends and based on calculations and years of experience, make smart choices.* *Despite being well aware that they can fetch lucrative prices now, they are holding back the produce and bringing only smaller quantities to mandis. They are certainly anticipating a further hike in prices and if that happens, they will start bringing the produce in bulk.”**He said after the demand for cotton increased in the international market, its price soared and private players started buying it on rates way above the MSP. “With prevailing market dynamics expected to persist in the coming months, it’s the cotton growers who are expected to reap rich dividends this season,” he added.**After making a record purchase of 50 per cent of the total cotton produced in the state during previous procurement season, the CCI did not even enter the market this year as private players were already buying cotton at prices way above the MSP.**Modan Singh, a buyer from Bathinda-based private cotton mill, said: “Last season, more than 1,000-1,500 quintals was sold daily at mandis in Bathinda and now the arrival has come down to 250-400 quintals. Even though quality of cotton is not that good as compared to the last season, still we are compelled to buy it at higher rates.”**He said as there was pink bollworm attack on the crop in Malwa region this time, there was a sense of uncertainty whether they would be able to buy the required quantity of cotton this season or not. “But unfortunately, farmers are brining less and low quality of cotton to markets these days. Labour shortage is another factor that is on the minds of buyers as they would remain engage
Rupee gains 47 paise, closes at 74.87The rupee is showing strength against the dollar. Rupee is seen at the high of almost 2 weeks. The rupee has strengthened by 47 paise to close at 74.87 against the dollar. The rupee has opened on a strong note against the dollar. The rupee had strengthened by 23 paise to open at 75.11 today against the dollar.Sensex breaks 56 points - Nifty closed below 18,300At the end of trading, the Sensex closed at 61259.96, down 456.09 points, or 0.74 per cent. On the other hand, Nifty closed at 18,266.60, down 152.15 points or 0.83 percent.
Committee formed to demand reopening of NTC millsA committee called “Save NTC” is formed with Members of Parliament (MPs) from States that have National Textile Corporation (NTC) mills.Convenor of the committee C. Padmanabhan said 23 NTC mills across the country, including seven in Tamil Nadu, remained shut for more than a year, since the outbreak of the pandemic in the country. The workers of these mills got just 50 % wages. The trade unions had made several representations to the Union Government, seeking reopening of the mills. However, there was no move to reopen the mills.Hence, it was decided at a meeting here on Monday to form a committee. Coimbatore MP PR Natarajan participated in the meeting that had trade union leaders from Tamil Nadu, Kerala and Andhra Pradesh.The committee would meet the Ministers and officials concerned and take up the issue of the NTC mills. There was a fear among the workers and the unions that the government might privatise these mills. It was decided at the meeting to stage protests in front of Central Government offices demanding reopening of the mills. Protests would also be held in New Delhi during the Winter Session of Parliament, he said.
The Sensex market has started with gains.The market has started with gains. Sensex is seen at the level of 61834.38 with a gain of 118.33 points or 0.19 percent. On the other hand, Nifty is trading at the level of 18441.30 with a gain of 22.50 points or 0.12 percent.
*All India Weather Forecast for October 20, 2021**Weather systems made across the country*A low pressure area is now persisting over central parts of Uttar Pradesh, which will move eastwards and may weaken gradually.The associated cyclonic circulation extends up to 5.8 km above mean sea level.A trough from the cyclonic circulation associated with the Low Pressure Area is extending to North Coast of Tamil Nadu across Chhattisgarh, Odisha and Coastal Andhra Pradesh.Dry and cold northwesterly winds are blowing over Northwest and Central India.*Weather movement across the country during the last 24 hours*During the last 24 hours, heavy to very heavy rainfall occurred over parts of Uttarakhand and Northwest Uttar Pradesh, Sub-Himalayan West Bengal and Sikkim.Light to moderate rain with isolated heavy falls occurred over remaining parts of West Bengal, remaining parts of Uttar Pradesh, Bihar and East Madhya Pradesh.Light to moderate rain occurred over rest of Northeast India, Odisha, parts of Chhattisgarh, Lakshadweep, Kerala, parts of Tamil Nadu, Himachal Pradesh, Jammu and Kashmir and isolated parts of South Interior Karnataka.Light rain occurred over isolated parts of Punjab, Haryana, Delhi, East Rajasthan, remaining parts of Madhya Pradesh, Andaman and Nicobar Islands and Madhya Maharashtra and Northwest Rajasthan.*Possible weather activity during next 24 hours*During the next 24 hours, light to moderate rain with isolated heavy falls at isolated places is likely over East Uttar Pradesh, Bihar, parts of West Bengal, Sikkim, Assam, Meghalaya, Arunachal Pradesh and rest of Northeast India. .Rain activities are expected to increase once again over parts of Kerala, South Interior Karnataka, Tamil Nadu and Coastal Karnataka.Light rain with few isolated places is likely over Coastal Andhra Pradesh, Coastal Odisha and Andaman and Nicobar Islands.Light rain may occur over Lakshadweep and Rayalaseema.Due to dry northwesterly and cool winds, the weather over Northwest and Central India will remain dry with slight drop in minimum temperatures.
Today evening, the rupee depreciated by 9 paise to close at Rs 75.34 against the dollar.Sensex falls, Sensex closed after breaking 50 pointsToday the stock market closed with a fall. Today, where the Sensex closed at the level of 61716.05 points, down by about 49.54 points. On the other hand, Nifty closed at 18418.80 points down by 58.20 points.
*PAKISTAN COTTON MARKET UPDATE**KCA increases spot rate by Rs200/maund**The Spot Rate Committee of the Karachi Cotton Association on Monday increased the spot rate by Rs 200 per maund and closed it at Rs 14,500 per maund. Cotton Analyst Naseem Usman told Business Recorder that the local cotton market remained bullish and trading volume remained satisfactory.**The rate of cotton in Sindh is in between Rs 14,500 to Rs 14,800 per maund and the rate of cotton in Punjab is in between Rs 14,400 to Rs 15,000 per maund.**The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 6200 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 6400 per 40 Kg.**The rate of Banola in Sindh is in between Rs 1350 to Rs 1900 per maund. The rate of Banola in Punjab is in between Rs 1650 to Rs 2000 per maund. The rate of cotton in Balochistan is in between Rs 13,700 to Rs 14,500 per maund. The rate of Phutti in Balochistan is Rs 5500 to Rs 7200 per maund.**1400 bales of Ghotki, 200 bales of Khan Pur, 400 bales of Mir Pur Mathelo, 1000 bales of Sadiqabad, 1000 bales of Rahim Yar Khan, 400 bales of Bagho Bahar, 200 bales of Khan Pur were sold at Rs 14,800 per maund, 1000 bales of Saleh Pat were sold at Rs 14,000 per maund and 200 bales of Mianwali were sold at Rs 14,450 per maund. The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 200 per maund and closed it at Rs 14,500 per maund.**The rate of polyester fiber was increased by Rs 5 per kg and was available at Rs 240 per Kg.*
All India weather forecast for October 19, 2021 **Weather systems made across the country*The Low Pressure Area is over South and Central Madhya Pradesh. The associated cyclonic circulation extends up to 5.8 km above mean sea level.A trough is extending from a cyclonic circulation associated with Low Pressure Area over Madhya Pradesh to Bay of Martban across Chhattisgarh and Odisha.A trough is extending from South Interior Karnataka to South Tamil Nadu.A Cyclonic Circulation lies over Jharkhand and adjoining Gangia West Bengal.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain in some parts of South East Rajasthan, parts of Madhya Pradesh, parts of Uttar Pradesh, Uttarakhand, Delhi NCR, Vidarbha, Kerala, North Coastal Odisha, Gangetic West Bengal and Jharkhand It was accompanied by heavy rain at many places.Light to moderate rain at one or two places occurred over Jammu and Kashmir, Himachal Pradesh and Coastal Andhra Pradesh.Light to moderate rain occurred over parts of Punjab, Haryana, East Rajasthan, Bihar, remaining parts of Jharkhand, Chhattisgarh, parts of Madhya Maharashtra, Tamil Nadu and Coastal Karnataka.Light rain occurred over Lakshadweep, Andaman and Nicobar Islands, Northeast India and Rayalaseema.*Possible weather activity during next 24 hours*During the next 24 hours, light to moderate rain at isolated places over Himachal Pradesh, Uttarakhand, West and Central parts of Uttar Pradesh, parts of West Bengal, Sikkim, Assam, Meghalaya, Coastal Odisha, parts of Jharkhand and Madhya Pradesh. There is a possibility of heavy rain at some places with rain.Rest of North East India, remaining parts of Bihar, remaining parts of Uttar Pradesh, Chhattisgarh, Interior Orissa, parts of Jammu and Kashmir, Ladakh, rest of Madhya Pradesh, parts of Vidarbha, South Interior Karnataka, Coastal Karnataka Kerala, Lakshadweep and Light to moderate rain may occur over Andaman and Nicobar Islands.*Light rain is possible over Delhi, Punjab and Haryana.*
Today evening, the rupee depreciated by 9 paise to close at Rs 75.34 against the dollar.There was a great rally in the market today.Bank Nifty including Sensex-Nifty also set a new record.At the end of trading, the Sensex closed at 61,765.59 with a gain of 459.64 points, or 0.75 per cent. On the other hand, Nifty closed at 18,477.05 with a gain of 138.50 points or 0.76 percent.
Cotton prices hit new high, soften pink bollworm blowThe pink bollworm pest has adversely affected yield of the cotton crop in Bathinda and Mansa districts of Punjab, but there is a silver lining at the end of the tunnel — the crop is being sold for a premium in grain markets, with the selling price touching an all-time high of Rs 8,060 per quintal at one place on Saturday.Previously, the cotton crop had touched an all-time high of Rs 7,000 per quintal. Usually, the crop does not sell for more than Rs 6,000 per quintal. Though a considerable portion of cotton has been damaged by pink bollworm in Bathinda and Mansa this year, farmers are still bringing the cotton that could be salvaged from their fields to grain markets.At Bhucho Mandi in Bathinda district, the crop traded at Rs 8,060 per quintal. In Bathinda, it fetched Rs 8,015 per quintal. In Abohar mandi, it fetched a price of Rs 7,840 per quintal as highest.Less quality cotton also was traded between Rs 6,000 and Rs 6,500 per quintal, while the MSP for 27.5-28.5mm-long staple cotton was Rs 5,925 per quintal. Cotton has been sown on 3.03 lakh hectares in Punjab this year.Farmer Iqbal Singh from Bhagi Wander village near Talwandi Sabo, who had sown cotton in his family-owned 17 acres, said he got a yield of less than four quintal per acre, which was 9-10 quintals per acre earlier. "Had the yield been similar, we could have made a fortune. Now we are in a dilemma: whether to call it white gold or not," he said.Fellow villager Mohinder Singh, who had sown the crop on three acres, too complained of low yield due to pink bollworm. A number of pests were seen crawling on the ground where Mohinder and Iqbal had unloaded the cotton crop in the grain market. Mohinder said, "We had taken three acres on lease for Rs 59,000 per acre and will have to incur loss, as we may not be able to get any profit from this crop and will have to depend on the next wheat crop."A few metres away, Malkit Singh of Buladewala village, who had sown crop on 1.5 acres said the yield was low. Accompanying him, small farmer Mithu Singh from Bir Talaab village, who had sown cotton on only one acre, said he got less than four quintals, which ideally should have been over 10 quintals.However, farmer Gursahib Singh was pleased as his cotton crop fetched Rs 7,920 per quintal. He got a yield of over 10 quintals per acre. He said it was first picking and one more or even two pickings will be done. "I expect to get better price for the crop," he said.Bathinda market committee secretary Gurwinder Singh said adequate quantity of cotton was coming to mandis and fetching prices close to Rs 8,000 per quintal.4.5L quintals boughtAccording to the data compiled by the Punjab State Agricultural Marketing Board, the 4.47 lakh quintals of cotton crop has been purchased by private traders till October 16. Of this, 1.61 lakh quintals has been sold in mandis of Fazilka, 93,000 quintals in Mansa, 90,500 quintal in Muktsar and 90,850 quintal in mandis of Bathinda. Apart from these, over 11,000 quintals of cotton has been sold in mandis of Faridkot, Barnala and Sangrur.Reasons behind price surgeCotton trading agency Indian Cotton Association Limited (IACL) former president Mahesh Sharda said cited delayed arrival of crop due to inclement weather, a fall of 5% in area under cotton and a speculative swing the international market as probable reasons for spurt in prices. "Though it is expected prices may come down to some extent after Diwali when arrival will pick up, prices would firm up in the long run," he said
Rupee depreciates against dollar, loses 3 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 3 paise at Rs 75.28 against the dollar. At the same time, on Thursday, the rupee closed at Rs 75.25 with a strength of 11 paise against the dollar.Sensex's new record opened up by 447 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 447.00 points to open at the level of 61752.95 points. On the other hand, the Nifty of NSE opened with a gain of 130.20 points at the level of 18468.70 points.
*All India Weather Forecast for October 18, 2021**Weather systems made across the country*A Low Pressure Area is now over Telangana and adjoining parts. The associated cyclonic circulation extends up to 5.8 km above mean sea level and is moving towards southwest with elevation.This weekend is over a low pressure area over Southeast Arabian Sea off Kerala coast. However, a Cyclonic Circulation persists over Southeast Arabian Sea.A trough is extending from North Andaman Sea to a cyclonic circulation associated with Low Pressure Area over Telangana.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred over Kerala, parts of Coastal Karnataka, Andaman & Nicobar Islands, Coastal Andhra Pradesh, Coastal Odisha, Vidarbha and Marathwada.Light to moderate rain occurred over West Bengal, Madhya Pradesh, Tamil Nadu, Rayalaseema, Telangana, parts of East Uttar Pradesh, Sikkim and Assam.Light rain occurred in Jammu and Kashmir, Gilgit Baltistan, Muzaffarabad, Ladakh, Himachal Pradesh, Uttarakhand, parts of Punjab, parts of Haryana, Rajasthan, Delhi NCR, Chhattisgarh, western parts of Uttar Pradesh, rest of Northeast India and Lakshadweep.Pollution has increased in Delhi and NCR and now it is in poor to very poor category.*Probable weather activity during next 24 hours*During the next 24 hours, light to moderate rain at isolated places over Gangetic West Bengal, parts of Coastal Odisha, parts of Maharashtra, Madhya Pradesh, Uttar Pradesh, Delhi, parts of Haryana, Himachal Pradesh, Uttarakhand and Kerala Might be possible.Light to moderate rain may occur over remaining parts of West Bengal, Sikkim, Bihar, Jharkhand, Punjab, Interior Odisha, Chhattisgarh, Tamil Nadu, South Interior Karnataka, Lakshadweep and North Madhya Maharashtra.
PAKISTAN COTTON MARKET UPDATEStable trend on cotton marketThe local cotton market on Friday remained bullish and trading volume remained satisfactory.The Spot Rate remained unchanged at Rs 14100 per maund. The Polyester Fiber was available at Rs 225 per kg. Cotton output in China's Xinjiang in 2021 was seen at around 5.2 million tonnes, state media reported on Thursday, on par with levels in the previous year.Planting acreage of cotton in the region reached 37.18 million mu (2.48 million mu hectares), Chinanews.com reported, citing an official at a media briefing by the Xinjiang government.The rate of cotton in Sindh is in between Rs 12000 to Rs 14600 per maund and the rate of cotton in Punjab is in between Rs 14000 to Rs 14800 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 6100 per 40 kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 6400 per 40 kg. The rate of Banola in Sindh is in between Rs 1400 to Rs 1900 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 2000 per maund. The rate of cotton in Balochistan is in between Rs 13600- 14500 per maund. The rate of Phutti in Balochistan is Rs 5500-7200 per maund.600 bales of Ghotki, 600 bales of Dherki were sold at Rs 14300 to Rs 14500 per maund, 3000 bales of Khair Pur were sold at Rs 13700 to Rs 13800 per maund, 600 bales of Mir Pur Mathelo, 600 bales of Pano Aqil were sold at Rs 14300 to Rs 14500 per maund, 400 bales of Saleh Pat were sold at Rs 14300 per maund, 600 bales of Moro were sold at Rs 13800 per maund, 600 bales of Sanghar, 400 bales of Mir Pur Khas were sold at Rs 11500 per maund, 800 bales of Mian Wali , 3000 bales of Rahim Yar Khan, 1000 bales of Sadiqabad, 1000 bales of Khan Pur were sold at Rs 14500 per maund, 200 bales of Hasil Pur were sold at Rs 14200 per maund, 1200 bales of Fort Abbas were sold at Rs 13975 to Rs 14300 per maund, 1400 bales of Yazman Mandi were sold at Rs 14100 to Rs 14200 per maund, 1200 bales of Donga Bonga were sold at Rs 14000 per maund, 1200 bales of Faqeer Wali were sold at Rs 14000 to Rs 14100 per maund, 1400 bales of Haroonabad were sold at Rs 14000 to Rs 14200 per maund, 600 bales of Layyah were sold at Rs 13850 to Rs 14000 per maund and 600 bales of Bahwalpur were sold at Rs 13950 per maund.
Cotton prices rally amid speculative buyingCotton futures rose rapidly over recent weeks as speculators began buying for potentially big profits based on expectations that prices would go up, according to a Texas A&M AgriLife Extension Service expert.The rally has been good for Texas cotton growers who have negotiated prices during the rally or who still have cotton to sell, said Dr. John Robinson, AgriLife Extension cotton marketing economist, Bryan-College Station. But he suspects the spike in buying and climbing prices is nearing the end.Factors weighing on cotton pricesRobinson said the cotton price rally started three weeks ago when it became clear prices would be up and the number of futures contracts held by long speculators were targeting cotton. The speculative buying pushed prices higher, but he said it is unclear what negative cropping and production factors were pushing futures purchases.Issues pushing the price increase could be rain in the U.S. Cotton Belt or problems with cotton crops in India or production issues in China, including import bans for cotton produced by Uyghur minorities in slave labor camps in northwestern parts of the country.But those factors alone should not be enough to cause the 25 cent per pound price jump over the three weeks from the 80 cent to 90 cent per pound range to $1.14 per pound for December futures. Robinson said conditions are bullish for cotton with strong demand, but the supply side and what is creating the strong demand are less clear.Robinson said there is evidence for strong demand related to large buys of U.S. cotton based on the Phase 1 trade agreements that reduced or removed tariffs from the trade war with China.Export demand for U.S. cotton triggered a 45 cent rally that took per-pound prices from 50 cents on April 1, 2020, to 95 cents by March 2021. That sustained price rally was driven by a global textile manufacturing ramp-up as mills reopened or increased capacity following initial COVID-19-related shutdowns.But historically, price rally patterns influenced by speculation are volatile and short-lived, Robinson said. “This week is the third week of the rally and there has been some selling,” he said. “So, this may be the top of the rally, but it is hard to predict based on what might be driving it to begin with. These speculators can unpredictably sell to take their profits or out of fear that the price could drop.”Prices good for cotton growersRobinson said Texas cotton growers should not expect prices to necessarily continue climbing. Prices this time last year lingered in the 70 cent per pound range, Robinson said.About two-thirds of Texas cotton is sold through a cooperative that pools their supplies and negotiates the best prices for members throughout the year. Cash offers are available to those with unsold cotton in the field or who have bales at gins that could fetch premium prices based on lint quality and grades.Many independent growers who locked in prices around 85 cents per pound may have seller’s remorse, but Robinson said they still did well.“The pricing opportunities are there for growers who have unsold cotton,” he said. “Hopefully they have good yields and can take advantage of this rally. It is a good year for them to pay off debt, invest in their operation and save some money, especially producers who have had a tough couple of years.”Robinson said there are ways for producers to begin planning for marketing their commodities and protecting their operation from the downside of potential prices in 2022. AgriLife Extension’s Master Marketing workshops focused on cotton provide information and education on how to maximize price opportunity and hedge against potential losses.Consumers and cotton pricesDespite some reports, Robinson said higher cotton prices are not the reason consumers may see higher prices on cotton-dependent clothing and apparel. The 25 cents per pound rally may translate into millions of dollars to buyers and sellers of raw cotton but does not add that much to the cost of a t-shirt or a pair of jeans.“The raw material is only a small part of the cost to create and market these products,” he said. “Manufacturing, shipping, labor and branding are all likely adding more to product costs compared to cotton. Fuel prices are higher. There are fewer trucks moving products and any disruptions to get finished products to market also add to the end cost to consumers.”
PAKISTAN COTTON MARKET UPDATECotton prices drift lower amid slow tradingThe Spot Rate Committee of the Karachi Cotton Association on Thursday decreased the spot rate by Rs 300 per maund and closed it at Rs 14100 per maund.The Spot Rate Committee of the Karachi Cotton Association on Thursday decreased the spot rate by Rs 300 per maund and closed it at Rs 14100 per maund. The Polyester Fiber was available at Rs 225 per kg.The local cotton market remained bearish and trading volume remained satisfactory.The rate of cotton in Sindh is in between Rs 11000 to Rs 14200 per maund and the rate of cotton in Punjab is in between Rs 14000 to Rs 14300 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4000 to Rs 6000 per 40 kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 6300 per 40 kg. The rate of Banola in Sindh is in between Rs 13550 to Rs 1900 per maund. The rate of Banola in Punjab is in between Rs 1000 to Rs 1900 per maund. The rate of cotton in Balochistan is in between Rs 13400- 14400 per maund. The rate of Phutti in Balochistan is Rs 5800- 6200 per maund. 600 bales of Ghotki, 1000 bales of Dharki were sold at Rs 14300 per maund, 2000 bales of Khair Pur, 600 bales of Mir Pur Mathelo were sold at Rs 13600 to Rs 13900 per maund, 200 bales of Sarhad were sold at Rs 14325 were sold at Rs 14325 per mand, 1200 bales of Mian Wali were sold at Rs 14150 per maund to Rs 14500 per maund, 200 bales of Chichawatni were sold at Rs 14150 per maund, 800 bales of Tunsa Shareef, 200 bales of Donga Bonga, 800 bales of Haroonabad were sold at Rs 14000 per maund, 200 bales of Ali Pur were sold at Rs 13900 per maund, 400 bales of Layyah were sold at Rs 13700 to Rs 13800 per maund, 400 bales of Fort Abbas were sold at Rs 14200 to Rs 14300 per maund, 200 bales of Faqeer Wali were sold at Rs 14200 per maund and 200 bales of Hasil Pur were sold at Rs 14000 per maund.
| title | Created At | Action |
|---|---|---|
| U.S. EXPORT SALES FOR WEEK ENDING 14/10/2021 | 21-10-2021 18:08:00 | view |
| Today evening, the rupee strengthened by 1 paise to close at Rs 74.86 against the dollar | 21-10-2021 16:11:37 | view |
| Rupee opens 1 paise stronger against dollar | 21-10-2021 10:26:51 | view |
| All India Weather Forecast for October 21, 2021 | 21-10-2021 07:49:09 | view |
| * Spot price increased by Rs 200 amidst select purchases * | 21-10-2021 07:21:37 | view |
| Fearing price rise, cotton producers stopped bringing cotton to the mandis. | 21-10-2021 07:20:46 | view |
| Rupee gains 47 paise, closes at 74.87 | 20-10-2021 17:46:27 | view |
| Committee formed to demand reopening of NTC mills | 20-10-2021 11:07:24 | view |
| The Sensex market has started with gains | 20-10-2021 11:06:38 | view |
| *All India Weather Forecast for October 20, 2021* | 20-10-2021 07:47:13 | view |
| Today evening, the rupee depreciated by 9 paise to close at Rs 75.34 against the dollar | 19-10-2021 16:09:30 | view |
| *PAKISTAN COTTON MARKET UPDATE* | 19-10-2021 08:06:57 | view |
| *All India Weather Forecast for October 19, 2021* | 19-10-2021 07:35:27 | view |
| Today evening, the rupee depreciated by 9 paise to close at Rs 75.34 against the dollar | 18-10-2021 16:28:47 | view |
| Cotton prices hit new high, soften pink bollworm blow | 18-10-2021 10:34:36 | view |
| Rupee depreciates against dollar, loses 3 paise | 18-10-2021 10:27:42 | view |
| *All India Weather Forecast for October 18, 2021* | 18-10-2021 07:56:40 | view |
| PAKISTAN COTTON MARKET UPDATE | 16-10-2021 10:43:14 | view |
| Cotton prices rally amid speculative buying | 15-10-2021 11:11:42 | view |
| PAKISTAN COTTON MARKET UPDATE | 15-10-2021 11:10:27 | view |
