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Rupee opens 13 paise stronger against dollarToday, the rupee opened at a level of Rs 82.35 against the dollar with a strength of 13 paise. On the other hand, on Friday, the rupee closed at a level of Rs 82.48 against the dollar with a weakness of 22 paise.Sensex gains a bit more, opens up 67 pointsH BSE's Sensex opened at a level of 57594.51 points with a gain of about 67.41 points. On the other hand, NSE's Nifty opened at a level of 16975.00 points with a gain of 30.00 points. Today

recession in pakistan cotton marketLahore: The local cotton market turned bearish on Friday with thin trading volumes. Cotton analyst Naseem Usman told that the price of cotton in Sindh is Rs 17,000 to Rs 19,000 per head.The rate of cotton in Punjab is Rs 18,000 to Rs 19,000 per head. The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The price of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.The spot rate remained unchanged at Rs 18,700 per head. Polyester fiber was available at Rs 355 per kg.

Rupee strengthened by 39 paise against dollarThe rupee strengthened by 39 paise to close at Rs 82.27 against the dollar this evening.Sensex falls, breaks 289 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 57925.28 points, down by about 289.31 points.On the other hand, the Nifty closed at a level of 17076.90 points with a fall of 75.00 points.

Tamil Nadu cotton farmers have full hope - cotton prices will increase in the coming weekCotton farmers in Ramanathapuram district of Tamil Nadu state are hopeful of getting good prices for their crop in the coming week. Actually, the harvesting of cotton crop is going on at a fast pace in the district. This is the reason why the farmers have once again raised the hope of increasing the prices. At present, cotton is being sold at an average of Rs 65 per kg, while last year in the same season the price had increased up to Rs 103 per kg.Bakkinathan, a farmer from Ramanathapuram said “Last year, the prices were above Rs 100 per kg at the initial stage of harvesting, but it came down to Rs 65 per kg at the end of the season. Now, the price at the initial stage is Rs 65. We Hopefully this will increase in the coming weeks."Being the most widely grown crop in the district after paddy and chilli, cotton was cultivated in about 8,800 hectares this year. Cotton is generally cultivated in two seasons; The first season starts in January-February and lasts till April.Agriculture officials said the area under cotton cultivation has increased this year as the crop fetched higher prices last year. The total crop this year is likely to cross 2 lakh metric tonnes. Currently, farmers are opting for regulated markets to sell their produce. Last year, over 1.4 lakh tonnes of cotton was harvested during the season and sold through regulated markets.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/news-details-hindi/PAKISTAN-MARKET-DECREASED-COTTON-HEAD-KCA-SPOT-RATE

Spot rate in Pakistan cotton market decreased by Rs 300 per headThe spot rate committee of the Karachi Cotton Association (KCA) on Wednesday reduced the spot rate by Rs 300 per head and closed it at Rs 18,700 per head. The local cotton market remained bearish and the trading volume was very low.Cotton analyst Naseem Usman said that the rate of cotton in Sindh is Rs 17,000 to Rs 18,500 per head. The rate of cotton in Punjab is Rs 17,500 to Rs 18,500 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. 500 bales of Sadiqabad were sold at Rs 18,500 per head.The spot rate committee of the Karachi Cotton Association reduced the spot rate by Rs 300 per head and closed it at Rs 18,700 per head. Polyester fiber was available at Rs 355 per kg.

Lack of quality seeds behind stagnant cotton production Agriculture Report of Pakistan 2023The lack of good quality seed is the main reason for the stagnant yield and declining area under cotton in Pakistan, as the average available cotton seed is around 44 per cent germination.“This means that 44 out of every 100 seeds germinate, all the rest are wasted. The result is that farmers usually apply 16 kg of seed per acre, with uneven germination across the field. Good quality seeds With this, only 8 kg per acre will be required,” said the Status of Pakistan's Agriculture Report 2023, released on Thursday by the Pakistan Business Council.The report noted that Pakistan's cotton production has declined by an average of 10 to 12 million bales per year over the past two decades, but has declined sharply in the past few years. “China and Australia are the major cotton producing countries which cultivate irrigated cotton like Pakistan. Their average productivity per acre has been increasing over the years (except in drought years), while Pakistan's yield has remained stable at around 1 bale per acre, with a decline in recent years.The report noted that yield gains in China and Australia were mainly due to improved agricultural techniques, seedling transplantation, better crop management strategies to combat disease, more appropriate irrigation, stronger fertilizer application and improved seeds following the adoption of genetically modified seeds. Due to the adoption of In the last 20 years, India's cotton production has more than doubled. In the first few years of the 21st century, India's cotton production ranged between 14 and 16 million bales, while Pakistan's cotton production ranged between 11 and 14 million bales. This was the time when Bt cotton was introduced in Pakistan, but without a strong seed industry.In the following decade, Pakistan's cotton production remained stable within this range, with India's cotton production reaching around 40 million bales in early 2013. “Poor quality seed means low germination level, higher seed cost per acre and more labor cost. This means less yield which means less earning. It also means higher susceptibility of the crop to climate effects, and disease and pest attacks, inability to compete against weeds, and nutrient loss,” the report said.Furthermore, Bt cotton was brought to Pakistan through unregulated channels without any formal leadership, which is why, although most of Pakistan's cotton contains transgenic technology, its effectiveness remains questionable.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/news-details-hindi/INDIAN-COTTON-MARCH-HIGH-ARRIVALS-TRADERS-MARKETS-GINNED-MCX

Indian cotton arrivals at three-year high in MarchCotton arrivals in India have started rising to a three-year high in March. Traders and industry leaders said natural fiber prices are likely to stabilize between Rs 60,000 and Rs 62,000 per candy (356 kg) in view of good quality of arrivals. Prabhu Dhamodharan, convener of the Indian Texpreneurs Federation (ITF), said, "We are seeing a steady increase in arrivals in all markets."Rising arrivals have left the market confused about the exact production of cotton this season (October 2022-September 2023). Cotton arrivals between March 1 and March 18 are at a three-year high of 2.43 lakh tonnes, according to data from Agmarknet, a unit of the agriculture ministry. Ramanuja Das Bubb, sourcing agent for multinational companies from Karnataka said “The arrivals are good and their quality is excellent. We are facing a peculiar situation this season as farmers have withdrawn their produce and are now ready to sell Are".Sanjay Gupta, MD & CEO, NCML said, “The arrivals have shown improvement in the last 15 days. However, all India arrivals (Oct-Mar'20) are 30 per cent lower than last season due to holding of stocks by farmers”. Anand Popat, a trader from Rajkot said, “The arrivals have increased as the prices have stabilized in the region of ₹60,000 per candy. But for rains, the arrival is between 1.6 lakh bales (170 kg each) and 1.8 lakh bales,” in cotton, yarn and cotton waste.Arrivals pick up Agmarknet data showed cotton arrivals rose to 77,498 tonnes last week from 49,573 tonnes a year ago and 30,334 tonnes in 2022. Last week, the Cotton Association of India (CAI) reduced the estimated cotton crop for the current season to 313 lakh bales from last season's 307.05 lakh bales. In its second advance estimate, the Center reduced its crop forecast to 337.23 lakh bales (311.18 lakh bales in the previous season) and the USDA estimated it at 313.76 lakh bales.Currently ginned (processed) cotton prices of Shankar-6 grade, the benchmark for exports, are ruling at ₹61,750 per candy in Gujarat. Cotton (raw cotton) is at Rs 7,900 per quintal as against the minimum support price of Rs 6,080 per quintal. In the global market, cotton futures for delivery in May on the Intercontinental Exchange (ICE), New York, was trading at 77.90 US cents per pound (₹50,900 per candy). Cotton for delivery in April closed at Rs 61,160 per candy on MCX.“In the last few weeks, cotton prices have stabilised. We expect this to continue till at least April 10,” said Das Bub. “Demand has stagnated due to global macroeconomic factors such as rising interest rates, volatile financial environment and recession fears. Cotton prices are trading lower in the range of 60,000-62,000," said Sanjay Gupta.“Spinning mills have started building up inventory, though prices have stabilized gradually, but low demand for yarn is almost affecting their procurement.” “Mills are still not convinced about higher inventories due to muted global demand signals for textile and apparel products. Dhamodharan said, we are only seeing pockets of recovery from some countries due to lack of their reserves.Sanjay Gupta said that ginners are facing the problem of disparity due to reduction in the prices of seed and oil cake. “Yarn sales are not promising, but demand for better quality yarn is allowing mills to run at good capacity. The arrivals are expected to increase in the coming weeks as there will be additional pressure on prices as farmers liquidate some part of their stocks. Most of the markets and buyers are still cautious about buying. ITF convenor said that the trend of increase in sugar demand is also not going as expected.As per production forecasts, 13 million bales may hit the market in the next 4-5 months. ITF's Dhamodharan said the current cotton season is expected to be quite long and "signs of weak demand may continue to keep a check on cotton prices".👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/news-details-hindi/PAKISTAN-SLOW-TRADING-COTTON-MARKET-BEARISH-PUNJAB

Pakistan Cotton Market Witnesses Slow Trading ActivityThe local cotton market in Pakistan remained bearish on Monday, with thin trading volumes reported across major trading centers. According to cotton analyst Naseem Usman, cotton prices in Sindh ranged between Rs 17,000 and Rs 19,000 per head, while in Punjab the rates were slightly higher at Rs 18,000 to Rs 19,000 per head.In Sindh, footi prices were recorded between Rs 5,500 and Rs 8,000 per 40 kg, whereas in Punjab the rate stood higher at Rs 6,500 to Rs 8,500 per 40 kg.Despite the sluggish market trend, some trading activity was observed in specific regions. Around 200 bales from Mirpur Mathelo were sold at Rs 19,000 per head, 400 bales from Ghotki at Rs 18,800 per head, and 419 bales from Sadiqabad at Rs 18,700 per head.The spot rate remained stable at Rs 19,000 per head, indicating no major movement in overall pricing. Meanwhile, polyester fiber was available in the market at Rs 355 per kg.Overall, the cotton market continued to show slow demand and limited trading activity, keeping prices largely stable but under pressure.

Cotton prices decreased this week as wellThe trend of decline in cotton prices continued this week as well. In the International Cotton Exchange market, a decline was registered in the deal price of all the three months of May, July and December. The rate for May saw a decrease of 0.35 points, for July it was 0.5 and for December it was 0.74 points.Cotton prices for the months of April and May have also decreased in the Multi Commodity Exchange market this week. A decline of 300 points has been seen in the deal price of April and 540 points in the deal price of June. Cotton prices on NCDX have also decreased by Rs.6 this week. While the price of Khal has registered an increase of Rs 125 and Rs 116 for the months of April and May respectively.Cotton prices are down this week across other exchange markets like Cotlook A Index, Brazil Cotton Index, USDA Spot Rate, MCX Spot Rate and KCA Spot Rate. If you look at the currency value, the currency of India, Pakistan and Brazil managed to make a slight gain against the dollar, while the dollar maintained its lead on the currency of other countries.

If import duty is not removed, it will be difficult to run spinning mill after June: CAI President In its recently released report, CAI has once again reduced the estimate of cotton crop to 313 lakh bales. Important excerpts of CAI Chairman Atul Ganatraji's interview with a channel on reduction in crop estimate and current condition of cotton industry-Question- Is the reason for the reduction in cotton crop by CAI is the low yield of cotton? Are cotton yields a cause for concern?Answer- In yesterday's meeting, about 25 members from all the 10 cotton producing states participated in this meeting. The idea was that definitely the yield is the main factor in the reduction in the size of the crop. Since last 5 years our production and yield is going down. Also this year, another important factor is that 90% farmers are already in cotton. Have uprooted the plants and are not doing 3rd and 4th picking as the rate of cotton is very less at 7000-8000 as compared to last year's 12000-15000. This top picking (forward) cotton comes to around 3 million bales. And this 30 lakh bales will not be available this year also this reduction in our yield is a matter of concern for the entire textile industry.Question- Why is our cotton production falling?Answer- Our seed technology is very old, we have not changed the seed since 2003. Countries like America, Brazil and Australia are using new technology, so their yield is double than ours. We have recommended the government to change the technology otherwise our spinning industries will suffer. Our cotton consumption is increasing and in the last 15 months 2 million new spindles have been added in India. And in coming 7 months 8-10 lakh new spindles will be erected so our Indian consumption is very high and our production is decreasing year by year so it is very important to bring new seeds and new technology. Till now we could survive even with less crop as we had opening stock of cotton from 125 lakh bales and 75 lakh bales from 2020 (due to corona) but now our opening stock is negligible.Question- How is the situation of arrival and how much cotton is with the farmers?Answer- Till February 20, 1,55,000 bales have arrived in India. According to our crop, 313 lakh bales means, 50% has arrived and 50% is in the hands of the farmers. In North India 20-25% crop, in Central India 40-50% crop, in South India 30-40% crop is in the hands of farmers.Question- If farmers do not sell cotton, it will be carried forward to the next year, then in the CAI meeting next month, there will be further reduction in crop numbers?Ans- Actually it is very difficult to understand the mind of farmers last year farmers saw rate of cotton 12000 to 15,000 per quintal and this year the prices are very low at 7-7500 so big farmers can move their whole cotton higher Farmers can carry forward a minimum of 15 lakh bales for the next season and a maximum of 25 lakh bales for the next season for rate expectation. If this happens, there is a possibility of further reduction in the number (harvest) of CAI in the coming months. We are advising Indian mills to buy cotton.Question- How is the demand for spinning mills?Answer- Spinning mills are running at 95% average capacity in India and monthly consumption is at peak. The monthly consumption of cotton is 28-30 lakh bales. The demand from Indian mills is very good, mills are buying 1-1.10 lakh bales for daily consumption. cotton export is 10-15,000 per day now indian mills have no problem getting cotton but in month of april but in april when arrival will reduce then it may be difficult for spinning mills to cover cotton Lets do it. Since our consumption is high and production is low, the government should remove 11 per cent import duty on cotton. Indian spinning mills will have a tough time after June-July if the import duty is not removed. And we will see the repeat of last season 2022.

The spot price of cotton in Pakistan declined by Rs 300 per maund The spot rate committee of the Karachi Cotton Association (KCA) on Thursday reduced the spot rate by Rs 3,00 per head and closed it at Rs 19,500 per head. The local cotton market remained bearish and the trading volume was very low.  Cotton analyst Naseem Usman said that the price of cotton in Sindh is Rs 17,500 to Rs 19,500 per head. The rate of cotton in Punjab is Rs 18,000 to Rs 19,500 per head. The rate of footi in Sindh ranges from Rs 7,000 to Rs 8,300 per 40 kg.The rate of footi in Punjab ranges from Rs 7,000 to Rs 9,200 per 40 kg. The spot rate committee of the Karachi Cotton Association (KCA) reduced the spot rate by Rs 3,00 per head and closed it at Rs 19,500 per head. Polyester fiber was available at Rs 355 per kg.