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Rupee strengthened by 1 paise against dollarThe rupee strengthened by 1 paise to close at Rs 81.82 against the dollar this evening.Today the stock market closed with a boom.Today, where the Sensex closed at a level of 61112.44 points with a gain of about 463.06 points.On the other hand, the Nifty closed at the level of 18065.00 points with a gain of 150.00 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Vietnam-apparel-worst-industry-us-sanctions

Vietnam apparel industry worst hit by US sanctionsTighter US rules banning imports from China's Xinjiang are increasing pressure on Vietnam's apparel and footwear makers, which have lost nearly 90,000 jobs since October due to a slump in demand in the global manufacturing hub.Among apparel exporters, Vietnam has been among the worst hit by the Forced Labor Protection Act (UFLPA), a review of official US data showed. The law, in effect since June, requires companies to prove they are from Xinjiang. Do not use raw materials or components produced by forced labor.Many US importers are still optimistic, but their supply chains could still be disrupted as Vietnam's apparel makers rely on China for nearly half of their input materials. In total, customs checked nearly 3,600 shipments worth more than $1 billion from multiple countries to find they did not carry goods with inputs from forced labor in Xinjiang, the U.S. Customs data shown.According to the US Department of Commerce, this will affect US consumers, as Vietnam is their main source of cotton apparel. "Vietnam's heavy reliance on cotton textile material from China poses a significant risk to Xinjiang cotton, as the province produces more than 90% of China's cotton," said Sheng Lu, director of the Department of Fashion and Apparel Studies at the University of Delaware.He added that it is unlikely that Vietnam can substantially reduce this dependence, as many manufacturers there are owned by Chinese investors. A government official confirmed that some Vietnamese suppliers may find it difficult to comply with the new rules, either because they import cotton from Xinjiang or because they are unable to prove that they do not.In a survey last year, nearly 60% of US fashion industry managers said they were looking to countries outside Asia for their supplies as a response to forced labor legislation. Sheng Lu said it would be difficult for US firms to find alternative suppliers faster, so more scrutiny on Vietnamese cargoes could be expected. Western companies should "make a more significant effort to map their supply chains, trace where production occurs and perform due diligence at each stage".The country's exports fell by 11.9% and production by 2.3% in the first quarter. Nearly one out of every three pairs of shoes sold globally by Nike and Adidas and 26% and 17% of their clothing, respectively, are manufactured in Vietnam. However, according to its latest annual report updated to May 2022, Nike has significantly reduced its production of apparel and footwear, despite its main manufacturing center in Vietnam. It did not answer questions about the UFLPA. Adidas also did not comment on the UFLPA, but said shortlisting its Vietnamese suppliers would respect local law.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Market-pakistan-usman-naseem-cotton

A look at the Pakistan cotton marketThe local cotton market remained stable on Thursday with low trading volumes. Cotton analyst Naseem Usman told that the price of cotton in Sindh is 17 thousand to 20 thousand rupees per head.The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 per head. The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.941 bales of Rahim Yar Khan were sold at Rs.21,300 per maund (Conditions) and 200 bales of Fort Abbas were sold at Rs.19,500 per maund. The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Expensive-Indian-cotton-shifting-textile-industry-mmf

Expensive cotton shifting Indian textile industry to MMF The textile industry in Gujarat, India, is moving to cheaper fibers such as viscose and polyester due to the high cost of cotton. The shift is partly due to seasonal changes and increased cost of cotton, which is prompting policy makers to work on shifting the industry towards MMF. The production of spinners is running at a loss, leading to a reduction in production.However, there have been reports of buyers rejecting products due to undeclared blending of cheaper fibers. This indicates that downstream industries and end users may take longer to accept this new normal.Last year, cotton prices in India hit a record high of over ₹1,11,000 per 356 kg candy. However, the downstream industry was enjoying a better scenario due to price parity as compared to the global market. Currently, cotton prices are hovering at around half of Rs 62,000 per candy. However, Indian exports of cotton yarn, fabric and garments are facing headwinds due to rising cost of cotton. The natural fiber has been priced higher than ICE cotton since the start of the current cotton marketing season in October 2022.According to industry sources, spinners are currently running production without any margin or loss, hence they are being forced to limit their production. While cotton prices remained high throughout the season, yarn, fabric and apparel prices did not see much recovery. As a result, Indian exporters are facing the challenge of costlier cotton.Gujarat Chamber of Commerce and Industry (GCCI) chairman textile committee Saurin Parikh said, “Cotton prices are so high that the industry has had to shift to cheaper fibres. This is not just limited to Gujarat and India, but it is Now a global trend. He clarified that Gujarat's textile industry is more dependent on cotton fibre, so the trend towards cheaper fibers is more visible in the state. Parikh also admitted that the trend is partly due to seasonal changes. The reason is, because there is more acceptance of man-made fibers in the winter season.The soft touch feel and ability to absorb perspiration are unique characteristics of cotton that cannot be replicated in man-made fibers. Global brands usually place bulk orders for the next winter season between April and June every year, and the industry usually shifts from cotton to man-made fibers during that season. However, the high cost of cotton has reversed the situation from earlier this year.“Cotton prices are so high that it is impractical to sustain the industry using natural fibers,” said Ashish Gujarati, former president of the Southern Gujarat Chamber of Commerce and Industry (SGCCI). The downstream industry is forced to shift to cheaper fibers. So that they can survive in the present challenging scenario.However, it may take some time for the garment industry and end-users to accept the shift in the industry towards cheaper fibres. Sources said that sometimes the declared mix of cheap fibers exceeds the permissible limit, leading to disputes between buyers and sellers. While the consumption of man-made fibers in the industry may increase, India is a predominantly cotton-centric textile hub, and will retain its position in the industry due to its unique characteristics.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Against-sensex-dollor-nifty-weakens-closed

Rupee weakens by 8 paise against dollarThis evening, the rupee closed at a level of 81.84 against the dollar with a weakness of 8 paise.Sensex rose 348 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 60649.38 points with a gain of about 348.80 points.On the other hand, the Nifty closed at the level of 17915.05 points with a gain of 101.45 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Prices-pakistan-cotton-trade-rate-spot

Cotton spot prices steady in thin trade in PakistanPakistan's local cotton market remained steady on Wednesday with low trading volumes. Cotton analyst Naseem Usman told that the reason for the low trading volume is that people were busy congratulating each other after Eid.The price of cotton in Sindh ranges between Rs 17,000 to Rs 20,000 per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 per head.The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.

Rupee strengthened by 15 paise against dollarThe rupee strengthened by 15 paise to close at Rs 81.76 against the dollar this evening.Sensex up 170 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 60300.58 points with a gain of about 169.87 points.On the other hand, the Nifty closed at a level of 17813.60 points with a gain of 44.30 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Appeal-maharashtra-agriculture-department

Appeal of Maharashtra Agriculture Department: Farmers should not buy and plant HTBT cotton seedsThe Agriculture Department and the Police Department are keeping a close watch on the sellers of HTBT seeds. Bogus companies, unlicensed unauthorized HTBT cotton seeds are likely to be surreptitiously supplied to the market. Some people refer to such unauthorized seeds as herbicides Bt, R-RBT and BTBG-3. These illegal seeds are not recognized by the government. Farmers should not get misled by such unauthorized companies.This appeal has been made by Ravi Shankar Chalwade, Superintendent Agriculture Officer of Nanded district. He said that HTBT seeds should not be bought and those seeds should not be planted in the fields. It is an offense to sell, possess and store illegal seeds. Technical analysis of HTBT gene will be done on leaf samples of cotton plants planted with such unauthorized seed cotton. If HTBT gene is found after sample test, action can be taken against the concerned. The Agriculture Department and the Police Department are keeping an eye on those selling HTBT seeds. Therefore, instructions have been given by the Agriculture Department not to try to sell these seeds.Threat to the health of farmers and agricultural laborersFarmers should not fall for the greed and allurement of fake companies, private agents, private individuals for sale of unauthorized seeds. Glyphosate herbicide has carcinogenic properties and its excessive use can cause diseases like cancer to human health. Excessive use of glyphosate herbicide ends the fertility of the land and no crop can be grown in that land in future. As a result, the land will become barren and the health of all the farmers and agricultural laborers will be in danger. Also, the central government has recommended the use of glyphosate herbicide on non-crop land and tea gardens.Notified seeds should be purchased from an authorized dealer with receiptGlyphosate is an herbicide that cannot be used on other crops. To prevent the cultivation of unapproved HTBT cotton and prevent damage from excessive use of glyphosate, which has carcinogenic properties, only authorized Bt cotton seeds should be purchased from authorized seed sales license holders and by an authorized company Must be produced that guarantees quality and quality. To avoid fraud, farmers should purchase notified seeds from authorized dealers against receipt. The District Agriculture Superintendent has informed through a press release that if fake companies, private agents are motivating to buy unauthorized Bt seeds, then the information should be given to Taluka Agriculture Officer, District Superintendent Agriculture Officer, Zilla Parishad Agriculture Department.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Over-businesses-shut-down-vietnam-drop-orders-clothing-manufacturing-optimistic

Over 1,300 businesses shut down in Vietnam due to 70-80% drop in orders In the first quarter of 2023, Vietnam's clothing and footwear orders will drop by 70% to 80%. According to the Vietnam Textile and Apparel Association, in March 2023, Vietnam's textile and apparel exports reached about 3.298 billion US dollars, an increase of 18.11% month-on-month and a decrease of 12.91% year-on-year. In the first quarter of 2023, Vietnam's textile and apparel exports reached US$8.701 billion, a year-on-year decrease of 18.63%, mainly due to a decrease in the number of orders.In 2022, Vietnam was one of the hotspots in global economic development with a GDP growth rate of 8.02%. However, in the first quarter of 2023, Vietnam's economy has suddenly hit the brakes. The latest data shows that in the first quarter of 2023, Vietnam's total import and export volume of goods reached nearly US$154.27 billion, a year-on-year decrease of 13.3%, of which exports The year has decreased by 11.9%.Manufacturing data was also not optimistic. On April 3, the Vietnam Manufacturing Purchasing Managers' Index (PMI) released by S&P Global for March was 47.7, down from 51.2 in February, and was below 50 for the fourth time in the past five months. According to a report by the Vietnam Textile and Apparel Association, Vietnam's textile export orders in the first quarter of 2023 will decline by 25-27% year-on-year.In response to the decline in orders, many Vietnamese textile and apparel enterprises have reduced their operating rates, causing a large number of workers to lose their jobs. The industry expects this decline to continue till at least the third quarter of 2023. Nevertheless, the Vietnam Textile and Garment Association still set an export target of US$46 billion in 2023, only if the economy improves and consumption in prime.

Pakistan government is taking steps to revive cottonAgriculture secretary gives final shape to cotton revival plan in PakistanThe cotton crop is important to the country's economy. The government is taking vigorous steps to revive cotton. This year the support price of cotton has been fixed at Rs 8500 per 40 kg, which will benefit cotton farming.These views were expressed by Pakistan's Punjab Agriculture Secretary Iftikhar Ali Shahu while presiding over a meeting held in Lahore to prepare a plan for approval of cotton rehabilitation. Speaking on the occasion, Director General Agriculture (Extension & AR) Dr. Anjum Ali explained the reasons for the decrease in cotton production during the previous years. The strategy to increase the area and production of cotton cultivation was finalized in the meeting.Speaking on the occasion, Iftikhar Ali Shahu said that there is a need to make research and development more effective and productive so that the harmful effects of climate change and pest attack can be reduced. He said that the Punjab Government was continuing the subsidy of Rs.1200 per bag on certified seeds of selected approved varieties of cotton. Along with this, for the control of harmful insects of cotton, bio cards will be made available to the farmers through the bio lab established in Punjab.Secretary Agriculture Punjab directed to make use of print, electronic and digital media to make the ongoing cotton campaign fruitful so that the farmers can be made aware about the modern production techniques of cotton. He stressed on the coordination and active role of various departments of Agriculture Department to increase the production of cotton per acre.

Cotton's position in Türkiye's economy strengthened in 2022-23The contribution of the domestic textile industry to Turkey's economy has increased rapidly. Despite very hot and dry climatic conditions in the 2022/23 season, it is predicted that the high field yields of the previous season could be largely maintained.According to the '2022 National Cotton Council Cotton Sector Report', domestic cotton raw materials worth $864 million were processed into textile and apparel in 2021 from the main product 'fiber cotton' alone. Cotton further strengthened its position in the Turkish economy in the 2022/23 season. The area under cotton cultivation in Turkey reached 550 thousand hectares in the 2022/23 season.Analysis of Türkiye's Cotton Production and Status in the Last Five SeasonsWith the improvement in the 2021/22 season, increased to 432 thousand hectares. In the 2021/22 season, from 2 million 250 thousand tons of cotton stumps produced, about 833 tons of fiber cotton, 993 thousand tons of cotton seed and 149 thousand tons of edible oil and 695 thousand tons of feed meal were obtained, while many industries, in particular 149 thousand tons of lint and 150 thousand tons of cotton waste were offered for use in medical equipment and cosmetics.As a result of a further improvement in the balance sheet in the same season, the areas under cotton cultivation increased further, reaching 550 thousand hectares in the current 2022/23 season. Turkey's cotton consumption is estimated to increase to 1 million 649 thousand tons in the 2022/23 season with increased demand following the global pandemic.While 80 percent of world cotton is exported by 6 major exporting countries (USA, Brazil, Australia, India, Greece and West African-CFA countries: Mali, Benin, Burkina Faso), 70 percent of world cotton is imported by 5 Is. The major importing countries (China, Vietnam, Bangladesh, Turkey and Pakistan), Turkey ranks fourth in the ranking. Thus, China, India, Pakistan and Turkey form a special competition group as the four major cotton countries which are distinct in both production and consumption.cotton policiesA network should be established that provides rapid and reliable estimation of yield on the basis of areas and parcels of cotton cultivation using satellite technologies. Cotton planting forecast should be done by integrating with TIKAS with parcel definitions obtained from ÇKS and land registry records.With regard to sustainability and raising awareness, “a national agricultural sustainability strategy should be defined and promotion, R&D, training and extension activities and investments should be carried out in accordance with this strategy.A cotton sustainability standard should be formulated and this standard should be integrated with other national standards such as Good Agricultural Practices (ITU), GMO-free Turkish Cotton Guaranteed Brand standard and international standards such as BCI and mechanisms to implement and supervise this standard should be established NeededFarmers producing organic cotton and under the purview of Improved Cotton Practices (IPUD) should be supported by way of bonus, contribution to certification expenditure, etc."