Recent News

*All India weather forecast for October 28, 2021**Weather systems made across the country*The Cyclonic Circulation is over South-central Bay of Bengal, under whose influence a Low Pressure Area is expected to form today, October 27. It will move westwards towards Tamil Nadu.From this cyclonic circulation, a trough is extending up to Southeast Arabian Sea across Tamil Nadu and Kerala.An Anticyclone is over West Rajasthan.A Weak Western Disturbance is persisting over North Pakistan.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred over parts of Tamil Nadu, Andaman and Nicobar Islands, Himachal Pradesh.Light rain occurred at isolated places over Kerala, South Coastal Andhra Pradesh and North Coastal Odisha, Coastal Andhra Pradesh and very light rain over Southwest Madhya Pradesh.The minimum temperatures have further declined over the northwest and central parts of the country.*Possible weather activity during next 24 hours*During the next 24 hours, light to moderate rain at a few places is very likely to occur over Tamil Nadu, Kerala and Coastal Andhra Pradesh.Light to moderate rain may occur over Andaman and Nicobar Islands and Lakshadweep.Light rain is possible at one or two places over Gangetic West Bengal, Coastal Odisha, Manipur, Mizoram and Tripura.

Today evening, the rupee depreciated by 7 paise to close at Rs 75.02 against the dollar.Sensex down, Sensex closed by breaking 207 pointsToday the stock market closed with a fall. Today, where the Sensex fell by about 206.93 points, closed at the level of 61143.33 points. On the other hand, Nifty closed at the level of 18211.00 points down by 57.40 points.   

Rupee depreciates against dollar, loses 4 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 75.00 against the dollar. At the same time, the rupee on Tuesday closed at Rs 74.96 with a strength of 12 paise against the dollar.

Sensex opens sharply, rises 100 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 99.53 points to open at the level of 61449.79 points. On the other hand, the Nifty of NSE opened with a gain of 29.60 points at the level of 18298.00 points.

*All India Weather Forecast for October 27, 2021**Weather systems made across the country*A Cyclonic Circulation is persisting over East Central Bay of Bengal. A trough is extending from the cyclonic circulation up to Tamil Nadu.A low pressure area is very likely to form over East Central Bay of Bengal in the next 48 hours.Anticyclone lies over western part of Rajasthan.Dry and cold winds are blowing over Northwest and Central India.*Weather movement across the country during the last 24 hours*During the last 24 hours, isolated heavy to very heavy rainfall occurred over parts of South Interior Karnataka and Kerala.Light to moderate rain occurred over parts of Tamil Nadu and Sikkim.Light rain occurred in parts of Assam, Meghalaya, Arunachal Pradesh, Coastal Karnataka, North Interior Karnataka, Goa, Andaman and Nicobar Islands and Gangetic West Bengal, Lakshadweep and Kulsum parts of Jammu and Kashmir.*Probable weather activity during next 24 hours*During the next 24 hours, light to moderate rain with isolated heavy falls at isolated places very likely over Tamil Nadu, Kerala and South Interior Karnataka.Light to moderate rains are possible over Coastal areas of Tamil Nadu, Coastal Karnataka, Andaman and Nicobar Islands and parts of Lakshadweep.Scattered light rain is possible over Sikkim, Sub-Himalayan West Bengal and North East India.Mist and mist and light fog are very likely to occur at isolated places over Indo-Gangetic plains.

*Cotton prices soar to *record high in India on global trends**Projections of tight *supplies later this season leave industry worried*Domestic cotton prices have soared to a record high of ₹63,000 per candy (356 kg) as the global market has surged on low production, rising demand and supply constraints.**On the Intercontinental Exchange (ICE), New York, cotton prices have gained a tad over 50 per cent year-on-year rising to 108.67 cents a pound (₹66,025 a candy).**“Quality cotton in the domestic market costs about ₹65,000,” said PK Agarwal, Chairman and Managing Director, Cotton Corporation of India (CCI), which had procured cotton over the last two years to ensure markets do not drop below the minimum support price (MSP) level.**Ruling above MSP**Currently, raw cotton prices in various markets across the country are ruling above ₹7,000 a quintal against the MSP of ₹5,726 fixed for this year. Prices much above MSP means the CCI will not need to do any market intervention this year, according to Agarwal. **“The prices are good for farmers where private traders and millers are ensuring good remuneration for cotton,” the CCI CMD said.**“Prices are moving up since the cotton balance sheet is tight and ending stocks are lower. Except China, no other country seems to have ample stocks,” said Anand Poppat, a Rajkot-based trader of raw cotton, waste and yarn.**With the quality of the cotton crop reported to be good, he expects Indian offers to soon be at par with global rates. “Indian cotton prices will be near international rates,” said CCI’s Agarwal.**Post-Diwali scenario**Southern India Mills Association (SIMA) Secretary-General K Selvaraj said post-Diwali prices might decline in view of higher arrivals. “Arrivals will flood markets during December-January pushing down prices. But prices are likely to rule around ₹50,000-₹51,000 a candy,” he said.**Cotton Association of India (CAI) President Atul Ganatra said the cotton market is expected to be steady between ₹62,000 and ₹65,000.**According to Major General OP Gulia, CEO, SVP Group that is producing yarn, cotton prices have seen their best and are unlikely to escalate further. “It will stabilise around its current level. There is news of restrictions in China, the US and Britain markets. We will have to wait and watch… That would influence the prices internationally,” he said.**Poppat said cotton prices were surging since the retail pipeline was empty. “There is huge demand for cotton as well as yarn. Speculators in the European Union have taken advantage of this and built open positions,” he said.**Gulia said domestic market demand was huge and yarn was in short supply. “Orders (yarn) are now being booked for three months in advance. The trend will continue for the better part of the year,” he said.**CAI’s Ganatra said cotton mills were running with 30-45 days of stocks.**Exports may dip**Almost every player in the industry is of the opinion that cotton exports could be lower at 50 lakh bales this season (October 2021-September 2022) compared with 75-80 lakh bales last season. “India might export a minimum 50 lakh bales,” said Poppat, while Agarwal put the figures at 40-50 lakh bales.**“Indian cotton exports will be reduced by 35 per cent from 78 lakh bales (last year) to around 45-50 lakh bales this year,” said Ganatra.**Selvaraju said if cotton* *quality turns out to be good as expected, then more could find their way to destinations abroad. “That will make things a little difficult for mills,” he said.**Poppat said exports would lead to tighter and lower ending stocks this season.* *The industry is divided over the carryover stocks for this season, though.**Carryover stocks**SIMA’s Selvaraju said the Committee on Cotton Production and Consumption (CCPC) had pegged the carryover stocks at 120 lakh bales and if additional 10-15 lakh bales of cotton would have been consumed or exported, ending stocks could be 105 lakh bales.**According to estimates of CAI, a trade body, the carryover stocks are estimated at 82.50 lakh bales.**Selvaraju said cotton production this year is estimated to be 360 lakh bales (170 kg) and if the carryover stocks are pegged at 100 lakh bales and imports at 10 lakh bales, the industry would have a total supply of 470 lakh bales.* *“This year, cotton consumption could be 330 lakh bales but it depends on the power situation. In Andhra Pradesh, industries are provided only 50 per cent of their power needs during peak hours,” he said.**Ganatra said production this year is expected to be 360 lakh bales, plus or minus three per cent. “The crop is good in Central and Southern India, but it is lower in the Northern parts,” he said.**Disturbing trend**“The cotton crop is likely to stay at the same level as of last year, at approximately 360 lakh bales (25% of world production). Though the sowing area was lower this year, the yield per hectare has increased from approximately 500 kg per hectare to 750 kg,” Gulia said, adding the quality of cotton is good this year.**Global supply of cotton will be short and prices are unlikely to head south soon, he said.**The emerging market trend does have spinning mills worried. Expecting problems from private traders, who might buy huge stocks of cotton and try to sell during non-peak arrivals season at high prices, SIMA has written to the Prime Minister’s office to order CCI to purchase 40-50 lakh bales.**“CCI can release the stocks regularly at the rate of at least five lakh bales a month to keep unscrupulous traders at bay,” Selvaraju said.*

*PAKISTAN COTTON MARKET UPDATE**Cotton prices depict more strength**Spot rate on Tuesday was increased by Rs 100 per maund by the spot rate committee of the Karachi Cotton Association (KCA) pushing it to Rs 15,300 per maund from Monday's rate of Rs 15,200 per maund.**The local cotton market continued experiencing bullish trend and trading volume remained satisfactory, said Cotton Analyst Naseem Usman while talking to Business Recorder today.**Nevertheless, rate of polyester fibre remained unchanged at Rs 247 per kilogram, he added. The rate of cotton in Sindh remained between Rs 14,400 to Rs 15,500 per maund and the rate of cotton in Punjab was registered at Rs 14,000 to Rs 15,500 per maund. The rate of the new crop of Phutti in Sindh was remained between Rs 4,500 to Rs 6,300 per 40 kg. While Phutti prices in Punjab were between Rs 5,800 to Rs 7,300 per 40 kg.**Similarly, prices of cotton in Balochistan were remained at Rs 13,800 to 15,500 per maund while Phutti prices were high as compared to other two provinces which were Rs 6,200 to 7,800 per maund, said Naseem Usman.**The rate of Banola in Sindh was between Rs 1,400 to Rs 1,700 per maund. While in Punjab rates of Banola were between Rs 1,650 to Rs 2,000 per 40 kilograms. The rate of Banola in Balochistan today was Rs 16,000 to 2,000 per maund.**As per domestic transaction figures, 800 bales of Ghotki were sold at Rs 15,550 per maund, 200 bales each of Khan Pur Mehar and Mir Pur Mathelo also fetched Rs 15,500 per maund, 600 bales of Saleh Pat from Rs 14,800 to 15,000 per maund, 1200 bales of Khairpur from Rs 14,500 to 14,600 per maund, 1600 bales of Rohri from Rs 14,300 to Rs 14,800 per maund, 400 bales of Sarhad fetched Rs 13,000 per maund, 200 bales of Bago Bahar were sold at Rs 15,700 per maund, 400 bales of Khan Pur Mehar at Rs 15,700, 600 bales of Mianwali at Rs 15,500, 600 bales of marrot at Rs 15,500, 400 bales of Fort Abbas at Rs 15,200, 600 bales of Sadiqabad at Rs 15,500, 800 bales of Rahim Yar Khan at Rs 15, 500, 200 bales each of Khanewal and Lodhran at Rs 15, 500, 1400 bales of Haroonabad at 15,200-15,500, 200 bales of Donga Bonga at 15,200-15,500, 800 bales of Faqeer Wali Rs 15, 200, 400 bales of Ahmad Pur East 15, 200, 200 bales of Dharam Wala at Rs 15, 200, 4800 bales of Yazman Mandi at Rs 15, 200, 400 bales of Noor Pur Noranga at Rs 15,000, 400 bales of Layyah at Rs 14,900, 600 bales of Hasil Pur at Rs 14,700-15,200, 200 bales of Vehari at Rs 14, 200, 200 bales of Chichawatni were sold at Rs 14,000 per maund and 400 bales of Bahawalpur were sold at Rs 15, 200 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*

*Higher prices lure Telangana's cotton farmers to Maharashtra**Cotton farmers of Adilabad are rushing to Maharashtra to sell their produce at Rs 8,000 to Rs 8,500 per quintal while market yards and private traders are offering them Rs 6,500 to Rs 7,000 in the Adilabad market citing high moisture content.**There is a huge demand for cotton in international and national markets but there was low yield this season and private cotton traders are desperate to purchase cotton from farmers to make higher profits. Despite this, only a few farmers turned up to sell cotton at the Adilabad market though farmers were offered Rs 8,020 per quintal on Tuesday.**Market yard officials and the private traders in the state deduct money from the MSP or price they offer if the cotton has more than eight per cent moisture.* *This, farmers allege, is a way of cheating them.**This practice is not prevalent in Pandharkawada and Bhori in Maharashtra, just 50 km from Adilabad, and many farmers head there to sell their cotton. Besides, traders of Maharashtra pay the farmers on the spot.**It is learnt that nearly 40 farmers who brought cotton in vehicles to Adilabad market yard were disappointed with the lower price offered by traders and went to Maharashtra and sold their produce for Rs 8,000 per quintal on the first day of purchases.**Cotton farmers staged protests on Monday at the Adilabad market demanding that the officials take steps to ensure that private traders purchase cotton without measuring moisture content. They alleged that private traders cut large amounts in the price citing high moisture content and offered low prices.**The Adilabad market committee and private traders said they were finding up to 25 per cent moisture content, but they had acted on humanitarian ground and deducted less amount from the total price.**Cotton was cultivated in nearly 10 lakh acres in the erstwhile Adilabad district and farmers expected a good yield but incessant rains damaged the crop.**Senior Congress leader Marsakola Sarengarao of Mamidiguda of Adilabad Rural mandal said middlemen and agents were purchasing cotton from farmers and offering them low prices.**He appealed to the district officials to control the exploitation of farmers by middlemen and traders. He said traders must purchase cotton without measuring moisture content.* *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*

 Today evening, the rupee strengthened by 12 paise to close at Rs 74.96 against the dollar.Sensex rises further, closes up by 383 pointsToday the stock market closed sharply. Today, where the Sensex rose by about 383.21 points to close at 61350.26 points. On the other hand, Nifty closed at 18268.40 with a gain of 143.00 points.  

Rupee opens 3 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 3 paise at Rs 75.05 against the dollar. At the same time, on Monday, the rupee closed at Rs 75.08 with a weakness of 19 paise against the dollar.Sensex opened sharply, up 133 pointsToday the stock market opened with great momentum. Today the BSE Sensex opened with a gain of 132.69 points at the level of 61099.74 points. On the other hand, the Nifty of NSE opened with a gain of 42.60 points at the level of 18168.00 points.

*PAKISTAN COTTON MARKET UPDATE**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 15200 per 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 15200 per maund. The rate of polyester fibre was increased by Rs 5 per kg and was available at Rs 247 per kg.**Cotton Analyst 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 15800 per maund and the rate of cotton in Punjab is in between Rs 14000 to Rs 15700 per maund.**The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 6500 per 40 kg. The rate of Phutti in Punjab is in between Rs 5800 to Rs 7500 per 40 kg. The rate of Banola in Sindh is in between Rs 1400 to Rs 2000 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 2200 per maund. The rate of cotton in Balochistan is in between Rs 13800- 15500 per maund. The rate of Phutti in Balochistan is Rs 6200- 8000 per maund. 1800 bales of Ghotki were sold at Rs 15450 to Rs 15550 per maund, 200 bales of Pano Aqil ,4200 bales of Rahim Yar Khan, 1800 bales of Khan Pur, 1000 bales of Dera Ghazi Khan, 400 bales of Bagho Bahar were sold at Rs 15500 per maund, 200 bales of Sarhad, 200 bales of Mir Pur Mathelo were sold at Rs 15450 per maund, 1200 bales of Mehtab Pur were sold at Rs 14450 to Rs 14500 per maund, 400 bales of Kiandiyaro were sold at Rs 14450 per maund, 200 bales of Sarkand were sold at Rs 14200 to Rs 14300 per maund, 200 bales of Nawab Shah were sold at Rs 13700 per maund, 600 bales of Mir Pur Khas, 600 bales of Sanghar were sold at Rs 11400 per maund, 3400 bales of Sadiqabad, 1000 bales of Lodhran were sold at Rs 15400 to Rs 15500 per maund, 200 bales of Feroza were sold at Rs 15400 to Rs 15500 per maund, 1600 bales of Haroonabad were sold in between Rs 15200 to Rs 15300 per maund, 1600 bales of Faqeer Wali were sold at Rs 15200 per maund, 1600 bales of Yazman Mandi were sold at Rs 15000 to Rs 15300 per maund and 1200 bales of Vehari were sold at Rs 13800 per maund.**Pakistan Textile Competitive inputs value addition can boost economy. Recovering from the pandemic shocks, Pakistan's textile exports are set to grow to $22 billion in FY22. Most of this growth will be driven by the introduction of supportive policies by the government and stabilization of the industry.*