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Know how the removal of import duty will affect the textile worldGovernment delays removal of cotton import duty limit in textile segment Textile mill owners, troubled by the unbridled prices of cotton, have been demanding for a long time to free the import duty of cotton. On Wednesday this week, the government ended the wait of these industrialists and till September 2022, the import of cotton was completely duty free. As soon as this decision comes, there is an atmosphere of happiness in the entire textile world, especially among the industrialists. But according to experts, this step of the government is welcome, but the government has delayed it and the textile industry has suffered a lot by paying the duty.Millions of bales of cotton were imported in MarchIn fact, according to the recent report of SIS, in March 2022, total HSN code (52010020) 20941.313 metric tonnes of raw cotton i.e. about 1 lakh 23 thousand 185 bales has been imported all over India and a huge amount has also been paid in import duty on this. Is. According to experts, this much raw cotton will meet a lot of consumption of mills for the coming few months. In such a situation, if imports will be less in the months of April and May, then by removing the import duty limit, the benefit in these two months will be negligible. Yes, mills can get the benefit of this in the months of June, July and August.Decision taken after 4 months Actually, since the beginning of the year 2022, cotton prices have been on fire. In the month of January, where the rate of cotton was Rs 9,050, at present the price of cotton has reached 11 to 12 thousand. Buying cotton at such an expensive price and making yarn and cloth was no less than a challenge for the mills. This was the reason why many mills had decided to work only half days a week. To avoid this problem, the mill owners were continuously demanding the government to remove the import duty of cotton since January. But the government took a decision on this in the second week of April.

On Thursday, there was a slight increase in the physical market of North and Gujarat, while there was no movement in the market of other states.                     · Combar physical market rose by Rs. 1-2.                    Malaysian palm oil futures hit a one-month high on Thursday as Argentina strikes Government exempted customs duty on cotton imports till 30 September. · Today evening MCX Cotton opened with a gain of Rs 770 at 44380.

U.S. EXPORT SALES FOR WEEK ENDING 07/04/2022    Cotton:  Net sales of 59,300 RB for 2021/2022--a marketing-year low--were down 6 percent from the previous week and 76 percent from the prior 4-week average.  Increases primarily for Turkey (27,100 RB), India (24,400 RB, including decreases of 16,100 RB), Indonesia (6,700 RB, including 200 RB switched from Japan), Vietnam (6,200 RB, including 900 RB switched from South Korea), and Peru (6,200 RB), were offset by reductions for China (24,800 RB) and South Korea (1,700 RB).  Net sales of 132,000 RB for 2022/2023 were primarily for Mexico (62,700 RB), Turkey (17,600 RB), Peru (13,200 RB), Guatemala (11,400 RB), and South Korea (7,900 RB).  Exports of 333,800 RB were down 27 percent from the previous week and 14 percent from the prior 4-week average.  The destinations were primarily to China (122,700 RB), Pakistan (43,800 RB), Turkey (37,400 RB), Vietnam (32,700 RB), and Mexico (20,700 RB).  Net sales of Pima totaling 2,100 RB were down 68 percent from the previous week and 71 percent from the prior 4-week average.  Increases were primarily for Pakistan (900 RB), Indonesia (900 RB), and Colombia (200 RB).  Net sales of 4,100 RB for 2022/2023 were reported for India (4,000 RB) and Japan (100 RB).  Exports of 18,100 RB were up 49 percent from the previous week and 92 percent from the prior 4-week average.  The destinations were primarily to India (5,500 RB), Peru (4,400 RB), China (3,600 RB), Honduras (1,700 RB), and Vietnam (700 RB).   Optional Origin Sales:  For 2021/2022, the current outstanding balance of 57,200 RB is for Vietnam (52,800 RB) and Pakistan (4,400 RB).   Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance is 100 RB, all Vietnam.    

Government exempts customs duty on cotton import till September 30In a relief to consumers and the textile industry, the Narendra Modi government on Wednesday has exempted customs duty on cotton till September 30.Currently, it attracts 5 percent basic customs duty and 5 percent agri infra development cess, totalling 11 percent on cotton imports. The industry has been demanding a waiver of duty to lower domestic prices.The Central Board of Indirect Taxes and Customs (CBIC) notified the exemption from customs duty and agriculture infrastructure development cess for the import of cotton."This notification shall come into effect on the 14th April 2022, and will remain in force up to and inclusive of the 30th September 2022," the CBIC said.This exemption shall benefit the textile chain -- yarn , fabric, garments and made ups and provide relief to consumers. Textile exports would also benefit, the ministry said.

All India Weather Forecast for April 14, 2022Weather systems made across the countryThe Western Disturbance is over North Pakistan and adjoining areas.The Induced Cyclonic Circulation lies over Central Pakistan and adjoining Punjab.A Cyclonic Circulation is persisting over East Uttar Pradesh and adjoining areas.The trough is extending from Vidarbha to Southeast Arabian Sea across Marathwada, Interior Karnataka and North Kerala.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over Kerala, Tamil Nadu, Sub-Himalayan West Bengal and Gilgit-Baltistan and Muzaffarabad.Light to moderate rain occurred over Northeast India, parts of Sikkim, Lakshadweep, southern parts of Andaman and Nicobar Islands and parts of Jammu and Kashmir.Scattered light rain occurred over South Karnataka, South Chhattisgarh and Interior Odisha.Heat wave conditions were observed over some parts of East Madhya Pradesh, Northwest Rajasthan and one or two parts of Jharkhand.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls is likely over Sikkim, Assam, Meghalaya, Arunachal Pradesh, Kerala and Tamil Nadu.Light to moderate rain is very likely over rest of Northeast India, Sub-Himalayan West Bengal, South Karnataka, Lakshadweep, Jammu and Kashmir, Gilgit Baltistan, Muzaffarabad, Ladakh and parts of Himachal Pradesh.Thunderstorm or light dust storm may occur over parts of Haryana and Northwest Rajasthan.Light rain is possible at isolated places over northern parts of Punjab and Haryana.Dusty wind is blowing over parts of Haryana, West Uttar Pradesh and Delhi & NCR.Heat wave conditions are possible over isolated parts of East Madhya Pradesh, Bihar, Jharkhand and Western parts of Uttar Pradesh.

Cotton prices caught fire, increased by Rs 5 to 6 thousand in 10 days.                    On Wednesday, the price of cotton in the physical market reached Rs.99,500 in Odisha, on Tuesday it was Rs.98 thousand.           was the deal. Gold shines intact, reaching the level of 53,060 with a gain of Rs 182 on Wednesday evening. Malaysia Palm Oil fell by 61 ringgit on Wednesday after two days of gains. · Shipment business from Ukraine stopped, as a result, sunflower oil imports likely to fall by 80 thousand tonnes.·   

After cotton, now there is a tremendous boom in yarn and comber. There is a rise in the prices of all the products related to cotton, the garment sector is facing huge losses.With the rates of cotton touching the sky, there has been a huge increase in the prices of cotton related products. Talking about comber, its rates have increased by Rs 5 per kg in Punjab in just one day. Talking about the Khal, Karnataka has gained by Rs 50 per kg on Wednesday and yarn prices have also increased wildly in this month. In the 10 days of April, the price of yarn has increased by Rs 5 to 10 per kg. At the same time, the price of cotton wash oil has also increased by Rs 30-40 per 10 kg in the last 15 days. After cotton, due to the increase in yarn and comber, heavy losses are being expected in the garment sector. 30 percent less orders in the garment sectorSubhash Samariji, Managing Director, Prem Textile said that cotton prices are increasing uncontrollably. Neither the seller of cotton is ready to reduce its price nor is the government taking any steps to remove the import duty. As a result, orders have come down by 30 to 35 per cent in the home textile and garment sector this season. Spinning mills have already come in loss. If the prices continue to move at this fast pace, then the textile industry may have to face heavy losses.Work has been done on the recommendation to put a brake on the rising cotton prices. We have had discussions with the finance, agri and commerce ministries. Prices will come down soon.- Darshana Jardosh, Union Minister of State for Textiles

Vice President calls for improving cotton yield and productivity, stresses priority of farmer incomesVenkaiah Naidu, the vice president addressed the low cotton yield in India as a serious issue. At the golden jubilee program of CITI( Confederation of Indian textile industry), Naidu flashed light on the fact that nearly 39% of world's total cotton cultivation area is held by India but it  accounts for only 29% of the total cotton yield. This cannot be overlooked, he stated. He asked ministry, industry and researchers to look into the matter that why India is lagging behind in per acre cotton production. He also urged the government to seek for technology and research intervention along with usage of proper seeds and farmers counselling.

Sensex opened with gains at 58910, Nifty at 17599Today the stock market opened with gains. Sensex and Nifty opened with gains on Wednesday for the third trading day of the week. Sensex opened with a gain of 334 points at 58,910 while Nifty gained 15 points to open at 17,599.

All India Weather Forecast for April 13, 2022Weather systems made across the countryA Western Disturbance remains over North Pakistan and adjoining Jammu and Kashmir.And the Induced Cyclonic Circulation lies over Central Pakistan.A cyclonic circulation can be seen over eastern parts of Uttar Pradesh and adjoining Bihar at low levels.A trough is extending from adjoining Bihar to East Uttar Pradesh via Madhya Pradesh up to Vidarbha.There is circulation over South Tamil Nadu and adjoining areas.Weather movement across the country during the last 24 hoursDuring the last 24 hours, heatwave to severe heat wave conditions persisted over many parts of Jammu Division, parts of Himachal Pradesh, Punjab, Haryana, Delhi and Rajasthan. Heat wave conditions persist over Madhya Pradesh and Uttar Pradesh.Light to moderate rain with isolated heavy falls occurred at a few places over Kerala.Light to moderate rain occurred over rest of Tamil Nadu, parts of Assam, Manipur, Mizoram and Tripura.Light rain occurred at isolated places over rest of Northeast India, parts of Sikkim, Sub-Himalayan West Bengal and Andaman and Nicobar Islands.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls is likely over Kerala, Interior Tamil Nadu, parts of Sikkim, Assam, Meghalaya and Arunachal Pradesh.Light to moderate rain is possible over Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, Ladakh, Himachal Pradesh, Uttarakhand, rest of Northeast India, Sub-Himalayan West Bengal and South Karnataka.Thunderstorm and dust storm may occur at isolated parts of Punjab, Haryana and Rajasthan and West Uttar Pradesh.Heat wave conditions are possible over Rajasthan, parts of West Madhya Pradesh and isolated parts of Maharashtra.Heat wave conditions are possible over some parts of Gujarat and isolated parts of Delhi, Haryana, Bihar and Jharkhand.

The downward trend in the stock market continued, with a fall of 388.20 points, it closed at the level of 58576.37.             The rupee weakened against the dollar by 18 paise to close at Rs 76.13.   Increase in gold, till the writing of the news, the price increased by Rs 341 to 52520.   On Tuesday, there was a rally in the cotton physical market.  On the second day of the week also, there was a rise in Malaysia Palm Oil, the stock decreased, Palm Oil reached the highest of three weeks.              level reached.