Today evening the rupee strengthened by 4 paise to close at Rs 73.02 against the dollar. Record closing of Sensex, closed up by 277 pointsToday the stock market closed sharply. Today, where the Sensex rose by about 277.41 points, it closed at the level of 58129.95 points. On the other hand, Nifty closed at 17323.60 with a gain of 89.40 points.
*Bangladesh's exports rise 14% in August to $3.38 billion**Apparel shipments, particularly knitwear, brought in $3.38 billion for the country**Following a more than 11% drop a month ago, Bangladesh's export earnings made a dramatic recovery in August, growing by a little over 14% year-on-year.**Apparel shipments, particularly knitwear, brought in $3.38 billion for the country, according to the Export Promotion Bureau (EPB). However, it's still behind the monthly target of $3.71 billion.**The EPB said that the combined earnings in July and August declined by 0.31% year-on-year, which was $6.87 billion in the same period last year and it remained 7.84% below the export target of $7.44 billion for the period.**Last month, the readymade garment sector saw an increase of 11.56% year-on-year, with exports totaling $2.75 billion, up from $2.46 billion the previous year.**However, in July and August of 2021, the apparel sector's shipping fell by 1.27% year-on-year to $5.64 billion.**Apart from jute and jute goods, all main industries have seen strong growth, including agriculture, leather and leather products, home textiles, frozen and live fish, engineering products, medicines, specialist textiles, and plastic products.*
PAKISTAN COTTON MARKET UPDATESharp decline on cotton marketThe Spot Rate Committee of the Karachi Cotton Association on Thursday decreased the spot rate by Rs 200 per maund and closed it at Rs 14000 per maund. Cotton Analyst Naseem Usman told Business Recorder that under the influence of international market local market remained bearish. Trading volume was a little bit low.The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 200 per maund and closed it at Rs 14000 per maund. The Polyester Fiber was available at Rs 222 per kg. The rate of cotton in Sindh is in between Rs 13500 to Rs 13900 per maund and the rate of cotton in Punjab is in between Rs 13700 to Rs 14000 per maund. The rate of the new crop of Phutti in Sindh was in between Rs 5700 to Rs 6100 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5700 to Rs 6050 per 40 kg. The rate of Banola in Sindh is in between Rs 1650 to Rs 1700 per maund. The rate of Banola in Punjab is in between Rs 1700 to Rs 1800 per maund. The rate of cotton in Balochistan is Rs 13700 to Rs 13800 per maund. The rate of Phutti in Balochistan is Rs 6100- 6800 per maund.The Cotton Crop Assessment Committee (CCAC) revised downward the cotton production target by 19.5 percent, i.e., from 10.5 million bales set for 2021-22 to 8.46 million bales, after missing the sowing target by 13.4 percent, it was learnt.
ICE COTTON SUMMERYCotton rebounds from one-week trough on weaker dollarICE cotton futures rose on Thursday, as a weakened dollar provided some respite after concerns over higher supply of the natural fiber sent it to a one-week low in the previous sessionhaving hit its lowest since Aug. 24 on Wednesday. * Lowering the cost of purchasing cotton for buyers holding other currencies and potentially boosting demand, the dollar index fell to a near one-month trough.“The market could be sensitive to where the dollar goes going forward and a lot of times the dollar can overwhelm supply and demand numbers,” said Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi.Adding support to the cotton market was an uptick across US grain markets.But weighing on cotton, concerns of increased supply have emerged due to improving crop conditions with a United States Department of Agriculture (USDA) report earlier this week showing that about 70% of the crop was in good-to-excellent condition, well above the 44% for the same period a year ago.Kansas-based commodity analyst Sid Love said that the report raised doubts over the USDA lowering its production estimate by a million bales last month and that it could increase its ending stocks estimate to about 3.5-4 million bales in its September demand and supply report.“But that’s not significantly tighter, especially by historical standards, so it really shouldn’t have that much of a longer-term impact,” he added. Market participants also took stock of the USDA’s weekly export sales report, which showed net sales of 105,200 running bales for 2021/2022 compared to the 245,100 RB reported in the prior week.
All India weather forecast for September 3, 2021Weather systems made across the countryThe Monsoon Trough is passing through Surat, Indore, Raipur, Gopalpur and then towards South East Central Bay of Bengal. A Cyclonic Circulation is persisting over Gujarat. It is very likely to move northwestwards during the next 24 hours and weaken. A trough is extending from South Gujarat to Coastal Andhra Pradesh at 3.5 to 5.8 km above mean sea level.Another trough is extending from Gujarat to East Rajasthan up to Northwest Uttar Pradesh.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Monsoon remained active over Konkan and parts of Goa and Gujarat. These areas received moderate to heavy rain with one or two very heavy showers. Light to moderate rain occurred at isolated places over Delhi & NCR, South & East Rajasthan, parts of Madhya Pradesh, isolated parts of Telangana, Coastal Karnataka and parts of Assam. Light to moderate rain occurred over Himachal Pradesh, Uttarakhand, Haryana, West Uttar Pradesh, parts of Bihar, West Bengal, isolated parts of Jharkhand, parts of Chhattisgarh, Coastal Andhra Pradesh, Kerala and rest of Northeast India. Rest of Uttar Pradesh, Odisha, Tamil Nadu, Lakshadweep, Andaman and Nicobar Islands and Interior Karnataka received light rain.Possible weather activity during next 24 hoursDuring the next 24 hours, some parts of Gujarat, Southwest Rajasthan, Foothills of Uttar Pradesh, parts of Sikkim, Sub-Himalayan West Bengal, parts of Assam, Andaman and Nicobar Islands, Coastal Andhra Pradesh, some parts of Telangana Light to moderate rain with heavy to very heavy falls at isolated places over parts of East Madhya Pradesh. . Light to moderate rain is likely over Himachal Pradesh, Uttarakhand, rest of Rajasthan, Bihar, Vidarbha, Konkan & Goa, Coastal Karnataka, Kerala, Rayalaseema, parts of Tamil Nadu and rest of Northeast India.Light rain is possible over Jharkhand, Gangetic West Bengal, Odisha, Chhattisgarh, Interior Karnataka, Lakshadweep, Delhi and Haryana.
*Rupee opens 2 paise stronger against dollar*Rupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 2 paise at Rs 73.03 against the dollar. *Sensex starts sharply, rises 131 points to open at record level*Today the stock market opened with great momentum. Today, the BSE Sensex opened at a record level of 57983.45 points with a gain of 130.91 points. On the other hand, the Nifty of NSE opened at a record level of 17262.00 points with a gain of 27.80 points.
The U.S. would be ‘wise’ to cut tariffs on China, says former trade negotiatorHigher U.S. tariffs on Chinese goods hurt American businesses and consumers, and it would be “wise” to reduce them, said Frank Lavin, a former undersecretary of Commerce for international trade.Mutual reduction in tariffs would improve the working relationship between the U.S. and China, said Lavin, who also once served as U.S. ambassador to Singapore.“And then let’s start tackling some of these trade issues one by one and help China move to world norms,” he added.Higher U.S. tariffs on Chinese goods hurt American businesses and consumers, and it would be “wise” to cut those levies, a former American diplomat and trade negotiator said Thursday.If both countries were to reduce tariffs on each other, their relationship could improve, said Frank Lavin, a former U.S. ambassador to Singapore and undersecretary of Commerce for international trade.He told CNBC that a “mutual reduction” in tariffs would also allow the U.S. to address longstanding concerns about China’s trade practices.Lavin was asked what advice he would give to the Biden administration on its policy toward China.“I would say don’t step away from the issue, there’s some serious trade issues there and I think a lot of President Trump’s criticisms were valid so don’t drop that agenda,” Lavin, now chief executive and founder of consultancy Export Now, told CNBC’s “Street Signs Asia.”Still, Lavin said the U.S. could hold Xi to his word in pursuing a reduction in tariffs and improved relationship.“So I’d say if we can just have a mutual reduction in those tariffs, we’re going to have a better working relationship,” said Lavin. “And then let’s start tackling some of these trade issues one by one and help China move to world norms.”
U.S. EXPORT SALES FOR WEEK ENDING 26/08/2021 Cotton: Net sales of 105,200 RB for 2021/2022 were primarily for Pakistan (27,600 RB), Vietnam (17,200 RB, including decreases of 8,800 RB), Turkey (14,400 RB), Ecuador (8,800 RB), and China (8,400 RB). Total net sales for 2022/2023 of 23,800 RB were for Turkey. Exports of 168,600 RB were primarily to Turkey (33,400 RB), China (33,000 RB), Vietnam (25,000 RB), Pakistan (18,900 RB), and Bangladesh (17,400 RB). Net sales of Pima totaling 14,500 RB were primarily for Peru (6,300 RB), India (6,200 RB), Austria (500 RB), Taiwan (400 RB), and Egypt (400 RB). Exports of 4,700 RB were primarily to India (2,200 RB), China (1,200 RB), Honduras (800 RB), Peru (300 RB), and Guatemala (100 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).
In the evening, the rupee strengthened by 3 paise to close at Rs 73.06 against the dollar.Sensex set a new record of uptrend, increased by 514 pointsToday the stock market closed sharply. Today, where the Sensex closed at the level of 57852.54 points with a gain of about 514.33 points. On the other hand, Nifty closed at 17234.20 points down by 157.90 points.
Rupee opens 5 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 5 paise at Rs 73.03 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 73.08 with a weakness of 8 paise against the dollar.Sensex opened with a gain of 85 points, Nifty also rose by 13 pointsToday the stock market opened with great momentum. Today, the BSE Sensex opened with a gain of 85.44 points at the level of 57423.65 points. On the other hand, the Nifty of NSE opened with a gain of 12.70 points at the level of 17089.00 points.
PAKISTAN COTTON MARKET UPDATESpot rate firm on cotton marketOfficial spot rate halted further increase on the cotton market on Wednesday, dealers said.The rate of cotton in the local market on Wednesday decreased by Rs 300 to Rs 400 per maund. Cotton Analyst Naseem Usman told Business Recorder that under the influence of international market local market remained bearish. Trading volume was a little bit low.The rate of cotton in Sindh is in between Rs 13800 to Rs 13900 per maund and the rate of cotton in Punjab is in between Rs 13900 to Rs 14000 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 5700 to Rs 6100 per 40 kg. The rate of Phutti in Punjab is in between Rs 5700 to Rs 6000 per 40 kg. The rate of Banola in Sindh is in between Rs 1700 to Rs 1750 per maund. The rate of Banola in Punjab is in between Rs 1700 to Rs 1800 per maund. The rate of cotton in Balochistan is Rs 13800 per maund. The rate of Phutti in Balochistan is Rs 6200- 6800 per maund.The Spot Rate remained unchanged at Rs 14200 per maund. The Polyester Fiber was available at Rs 222 per kg.
ICE COTTON SUMMARYCotton hits 1-week low on fears over increased supplyICE cotton futures fell to a one-week trough on Wednesday as traders were concerned over increased supply amid improving crop conditions in key-growing regions.“The crop conditions are good, and though the crop in West Texas is still a bit late, the potential is there to make a fairly big crop,” Peter Egli, director of risk management at British merchant Plexus Cotton, said, adding US supply seemed to be larger than the US Department of Agriculture’s (USDA) projection in August.The USDA said it would review acreage estimates for cotton in the September report, after it lowered its production estimate by over half a million bales for the 2021/22 crop year in last month’s supply and demand report.Adding to concerns over increased cotton supply, the USDA’s weekly crop progress report on Monday showed 70% of the cotton crop was in a good-to-excellent condition in the week ending August 29. That compares with only 44% for the same period a year ago.Analysts also said Hurricane Ida, which swept through Louisiana, Mississippi and New Orleans, did not cause major damage to the cotton crop. Market participants now eye the USDA’s weekly export sales report due on Thursday.
All India Weather Forecast for September 2, 2021Countrywide weather systemsThe low pressure area over North Madhya Maharashtra has weakened.A Cyclonic Circulation is persisting over North Madhya Maharashtra and adjoining southern parts of Gujarat.The axis of Monsoon trough is moving eastwards towards East Central Bay of Bengal via Baroda, Akola, Ramagundam, Kalingapatnam.Weather movement across the country during the last 24 hoursDuring the last 24 hours, moderate to heavy rains occurred over South Gujarat and North Konkan and Goa with very heavy rainfall at a few places. Monsoon was very active in these areas.Light to moderate rain and heavy rain occurred at isolated places over East Rajasthan, Delhi NCR, parts of Gujarat region, parts of Madhya Maharashtra, Goa and Telangana.Light to moderate rain has occurred over parts of Haryana, South and West Madhya Pradesh, Saurashtra and Kutch, Coastal Andhra Pradesh, parts of Chhattisgarh, Assam, Meghalaya, Sub-Himalayan West Bengal, Sikkim and Northeast Bihar. Light rain occurred at one or two places over Jammu and Kashmir, Himachal Pradesh, Uttarakhand, parts of Punjab, Uttar Pradesh, Odisha, Gangetic West Bengal, Andaman and Nicobar Islands, Lakshadweep and rest of Northeast India.Possible weather activity during next 24 hoursDuring the next 24 hours, scattered light to moderate rain over parts of Madhya Maharashtra, North Konkan and Goa, Gujarat, South and Southeast Rajasthan, Sub-Himalayan West Bengal, Sikkim, parts of Assam, Andaman and Nicobar Islands and parts of Telangana and Andhra Pradesh. Moderate rain with heavy rain at a few places. Light to moderate rain at isolated places over rest parts of Northeast India, Uttar Pradesh, Bihar, Jharkhand, Chhattisgarh, Madhya Pradesh, Tamil Nadu, Interior Karnataka, Kerala, South Konkan and Goa, Delhi and NCR and Uttarakhand It may rain heavily for a while.
Rupee weakens by 8 paise and closed at 73.08 levelWeakness in rupee against dollar has been seen. Rupee weakens by 8 paise to close at 73.08 against dollar today.Nifty below 17,100, Sensex down 214 points; Realty stocks outperformedSensex based on thirty shares had gone up to a record new high of 57,918.71 points at one time during trading. But in the end the gains were not sustained and the Sensex closed at 57,338.21 points, down 214.18 points, or 0.37 percent.
China's manufacturing sector slows as export demand weakensChina's factory activity decelerated in August as export demand weakened, a survey showed Tuesday.The monthly purchasing managers' index of the Chinese statistics bureau and an official industry group declined to 50.1 from July's 50.4 on a 100-point scale on which numbers above 50 show activity increasing.A sub-measure of new exports fell by a full point from the previous month to 46.7, according to the National Bureau of Statistics and the China Federation of Logistics & Purchasing.Officials have warned demand for Chinese exports was likely to weaken in the second half of the year. Factory and consumer activity have been dampened by flooding in July and tighter anti-coronavirus controls.In a report on the latest manufacturing figures, researchers at the Chinese investment bank CICC said they expected "the slowdown in demand will continue.""Overall the manufacturing industry will show a steady slowdown," it added.
Weakness in rupee, 4 paise breaks open at 73.04After the strong gains of yesterday i.e. Tuesday, the rupee has started with weakness today. Rupee has opened weak against the dollar by 4 paise today. Rupee opens today at 73.04 against dollar.Sensex started fast, rose 182 points to open at record levelToday the stock market opened with a boom. Today the BSE Sensex rose by about 181.76 points to open at the level of 57734.15 points. On the other hand, the Nifty of NSE opened with a gain of 51.80 points at the level of 17184.00 points.
*Cotton arrivals begin in Bathinda mandi**Around 19 quintal of raw cotton arrived in Bathinda grain market on Monday, with farmers getting Rs 300-400 per quintal more than the minimum support price (MSP). With Rs 5,925 per quintal being fixed for 27.5-28.5mm long staple, farmers got between Rs 6,200 and 6,400 per quintal.**Cotton season starts on September 1 but the Cotton Corporation of India normally enters the market after October 1, leaving private traders or ginners to make purchases for nearly a month.**Against state agriculture department’s target of sowing cotton in 3.25 lakh hectares, the crop was sown in 3.04 lakh hectares in Punjab. In the previous cotton sowing season, there was big mismatch in figures in Punjab, as initially the state government claimed that the crop was sown in 5 lakh hectares and later claimed that as per actual measurement it was sown in 2.51 lakh hectares.**The CCI website still shows 5 lakh hectare cotton sowing in Punjab.**Mehta village farmer Baldev Singh said he had brought cotton from first picking and sold it for Rs 6,325 per quintal. “I am happy to get this price, which is much above the MSP,” he said. Another farmer Shankar Singh from Katar Singh Wala village had brought about a quintal and sold it for Rs 6,250.**Commission agent Anil Aggarwal said it was the firsty day of cotton arrival in mandi and rates quoted by traders were much higher than the MSP. Actual price will be known when cotton starts arriving in large quantities, he said.**Bathinda market committee secretary Gurwinder Singh told TOI that 19 quintal cotton arrived on the first day on Monday. “We hope the arrivals to pick in mid-September, when the growers are expected to start the picking in big way,” he said.**SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771**https://wa.me/919111977775*
‘Bangladesh, India has ample scope to work together’Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan today said Bangladesh and India can reap more mutual trade benefits through further collaboration, especially in the area of apparel and textile industry.“There are huge opportunities for Bangladesh and India to complement each other in boosting apparel and textile business in both countries,” he remarked during a meeting with High Commissioner of India to Bangladesh, Vikram K Doraiswami who paid a courtesy call on BGMEA leaders at BGMEA office here today.They had discussions about existing problems in export-import especially in RMG and textile industry and possible ways to address them.They also discussed potential areas of further collaboration between Bangladesh and India to derive mutual trade benefits.BGMEA President Faruque Hassan said: “While Bangladesh relies on India for the import of raw materials including machinery, cotton, yarn, fabric, chemicals, and dyes, India is a potential RMG export market for Bangladesh. Indian domestic apparel market is growing, and Bangladesh can tap the opportunity. So, there lies a reciprocal trade benefit for both Bangladesh and India.”He also called for easing travel procedures including visa and resuming flights especially for business people from Bangladesh.Faruque Hassan has sought the cooperation of the Indian High Commissioner in exchanging knowledge, and expertise in apparel and textile industry.
💐🔆 Import of new cotton started in Madhya Pradesh Today on 30.8.2021 at Kukshi village, Nimad area of Madhya Pradesh, by Mr. Jayesh Kot, Susari, on the auspicious occasion of Janmashtami, the purchase of cotton for the new season 2021-22 was started by Mr. Raju Patidar, the owner of the ginning factory. By doing so, the purchase of new cotton was fixed at which the current price of cotton was Rs.6111/- per quintal.500 kuntals of cotton have been received so far today and around 700 kuntals of cotton are expected to be received by evening.Similarly, today there was a muhurat deal of new cotton whose spot price was Rs.3651/- per quintal which was traded by the cotton broker Laxman Kumar Aggarwal of Indore (Bakul Iron) to the buyer Sriram Oil Mill, Indore (Nitin Goyal). Cotton inflows are expected to increase rapidly in the coming days.SiS Committed to update you on all textile related news real time.
Rupee reaches the upper level of June 18, closed at 73.69Like the equity market, the movement of the rupee has also been seen to be improving. The rupee has reached an all-time high against the dollar today. Rupee today closed 53 paise stronger against dollar. Rupee has closed at 73.69 against the dollar.Sensex rises further, closes by 176 pointsToday the stock market closed sharply. Today, where the Sensex closed at the level of 56124.72 points with a gain of 175.62 points. On the other hand, Nifty closed at 16705.20 with a gain of 68.30 points.
| title | Created At | Action |
|---|---|---|
| Today evening the rupee strengthened by 4 paise to close at Rs 73.02 against the dollar. | 03-09-2021 15:55:21 | view |
| Bangladesh's exports grew 14% in August to $3.38 billion | 03-09-2021 13:22:54 | view |
| PAKISTAN COTTON MARKET UPDATE | 03-09-2021 11:33:18 | view |
| ICE COTTON SUMMERY | 03-09-2021 11:32:54 | view |
| All India weather forecast for September 3, 2021 | 03-09-2021 11:32:13 | view |
| Rupee opens 2 paise stronger against dollar | 03-09-2021 10:33:41 | view |
| The U.S. would be ‘wise’ to cut tariffs on China, says former trade negotiator | 02-09-2021 18:17:33 | view |
| U.S. EXPORT SALES FOR WEEK ENDING 26/08/2021 | 02-09-2021 18:09:23 | view |
| In the evening, the rupee strengthened by 3 paise to close at Rs 73.06 against the dollar. | 02-09-2021 15:59:10 | view |
| Rupee opens 5 paise stronger against dollar | 02-09-2021 11:24:46 | view |
| PAKISTAN COTTON MARKET UPDATE | 02-09-2021 11:23:54 | view |
| ICE COTTON SUMMARY | 02-09-2021 11:23:11 | view |
| All India Weather Forecast for September 2, 2021 | 02-09-2021 11:22:35 | view |
| Rupee weakens by 8 paise and closed at 73.08 level | 01-09-2021 17:43:21 | view |
| China's manufacturing sector slows as export demand weakens | 01-09-2021 13:27:12 | view |
| Weakness in rupee, 4 paise breaks open at 73.04 | 01-09-2021 11:38:27 | view |
| *Cotton arrivals begin in Bathinda mandi* | 31-08-2021 10:50:57 | view |
| ‘Bangladesh, India has ample scope to work together’ | 30-08-2021 20:32:50 | view |
| Import of new cotton started in Madhya | 30-08-2021 20:32:04 | view |
| Rupee reaches the upper level of June 18, closed at 73.69 | 27-08-2021 16:11:34 | view |
