Recent News

U.S. EXPORT SALES FOR WEEK ENDING 14/10/2021 Cotton:  Net sales of 391,800 RB for 2021/2022 were up noticeably from the previous week and up 20 percent from the prior 4-week average.  Increases were primarily for China (272,800 RB, including decreases of 100 RB), Turkey (76,900 RB), Vietnam (15,800 RB, including 300 RB switched from Japan), Mexico (6,200 RB), and Bangladesh (5,000 RB, including decreases of 100 RB).  Net sales of 63,900 RB for 2022/2023 were primarily for China (50,000 RB) and Turkey (13,200 RB).  Exports of 117,400 RB were up 23 percent from the previous week, but down 16 percent from the prior 4-week average.  The destinations were primarily to China (46,400 RB), Mexico (18,700 RB), Turkey (11,900 RB), Pakistan (9,600 RB), and Bangladesh (8,500 RB).  Net sales of Pima totaling 23,900 RB--a marketing-year high--were up noticeably from the previous week and up 58 percent from the prior 4-week average.  Increases were primarily for India (17,000 RB), Peru (2,800 RB, including decreases of 300 RB), and China (1,800 RB).  Exports of 5,400 RB were down 49 percent from the previous week and 28 percent from the prior 4-week average.  The destinations were primarily to India (4,500 RB), Austria (500 RB), and Peru (200 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).

Today evening, the rupee strengthened by 1 paise to close at Rs 74.86 against the dollar.Sensex falls again, 336 points fallToday the stock market closed with a fall. Today, where the Sensex closed at the level of 60923.50 points, down by about 336.46 points. On the other hand, Nifty closed at 18178.10 points down by 88.50 points.  

Rupee opens 1 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 1 paise at Rs 75.86 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 74.87 with a gain of 47 paise against the dollar.Sensex opens sharply, rises 269 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 268.70 points to open at the level of 61528.66 points. On the other hand, the Nifty of NSE opened with a gain of 85.70 points at the level of 18352.30

*All India Weather Forecast for October 21, 2021**Weather systems made across the country*A Low Pressure Area is over Bihar and adjoining region, with its associated cyclonic circulation extending up to 5.8 km above mean sea level.A Cyclonic Circulation is persisting over Central Uttar Pradesh.A trough is extending from the cyclonic circulation over Central Uttar Pradesh to the cyclonic circulation associated with the Low Pressure Area over Bihar.A trough is extending from South Interior Karnataka to South Coastal Tamil Nadu.A fresh Western Disturbance is expected to reach the Western Himalayas from October 22 and adjoining plains of Northwest India from October 23.*Weather movement across the country during the last 24 hours*During the last 24 hours, Sikkim and Sub-Himalayan West Bengal experienced moderate to heavy rain with very heavy rainfall at one or two places.Light to moderate rain with isolated heavy falls occurred over parts of Assam, Meghalaya, Arunachal Pradesh and East Uttarakhand.Light to moderate rain occurred over rest of Northeast India, parts of Bihar, Central and East Uttar Pradesh, Coastal Odisha and Tamil Nadu.Light rain occurred over Coastal Andhra Pradesh, Kerala, Lakshadweep, South Interior Karnataka and isolated parts of Madhya Pradesh and Chhattisgarh.*Possible weather activity during next 24 hours*During the next 24 hours, isolated light to moderate rain at isolated places over Sikkim, Sub-Himalayan West Bengal, Assam, Meghalaya, Arunachal Pradesh, Manipur, Nagaland, South Interior Karnataka, parts of Kerala and Tamil Nadu and East Bihar Heavy rain may occur at some places.Light to moderate rain may occur over Gangetic West Bengal, rest of Northeast India and Coastal Karnataka.Light rain is possible over remaining parts of Bihar, Coastal Andhra Pradesh, parts of Coastal Odisha, foothills of East Uttar Pradesh, Lakshadweep and Andaman & Nicobar Islands. *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*

* Spot price increased by Rs 200 amidst select purchases **The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 200 per maund and closed it at Rs 14700 per maund.**The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 200 per maund and closed it at Rs 14700 per maund. The rate of polyester fiber was increased by Rs 2 per kg and was available at Rs 242 per kg.**Cotton Analyst Naseem Usman 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 14800 per maund and the rate of cotton in Punjab is in between Rs 14500 to Rs 15000 per maund.**The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 6200 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5600 to Rs 6700 per 40 Kg. The rate of Banola in Sindh is in between Rs 14000 to Rs 2000 per maund. The rate of Banola in Punjab is in between Rs 2000 to Rs 2300 per maund. The rate of cotton in Balochistan is in between Rs 13800- 14800 per maund. The rate of Phutti in Balochistan is Rs 6000- 7500 per maund. 400 bales of Dherki, 600 bales of Sadiqabad, 3000 bales of Rahim Yar Khan, 600 bales of Khan Pur, 400 bales of Mir Pur Mathelo were sold at Rs 15000 per maund, 2000 bales of Khair Pur were sold at Rs 14000 to Rs 14400 per maund, 100 bales of Rohri were sold at Rs 14200 to Rs 14400 per maund and 1200 bales of Mian Wali were sold at Rs 14650 to Rs 14700 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*

*Anticipating price hike, cotton growers hold back produce**Even as cotton has started fetching as high as Rs 8,300 per quintal this season against the MSP of Rs 5,925, its arrival in the mandis across the state is delayed.**The data gathered by The Tribune from the Cotton Corporation of India (CCI) revealed that so far (till October 20) only 3.75 lakh quintal of cotton has been purchased at mandis against 7 lakh quintal purchased during the previous season around the same period. Experts have attributed the decline in arrival to farmers’ anticipation of further upward movement in prices of cotton in the market.* *They also blamed pink bollworm attack for the late arrival of the crop. A senior functionary of the CCI said: “Farmers are testing the waters before they can take the plunge. Like industry experts, they also study market trends and based on calculations and years of experience, make smart choices.* *Despite being well aware that they can fetch lucrative prices now, they are holding back the produce and bringing only smaller quantities to mandis. They are certainly anticipating a further hike in prices and if that happens, they will start bringing the produce in bulk.”**He said after the demand for cotton increased in the international market, its price soared and private players started buying it on rates way above the MSP. “With prevailing market dynamics expected to persist in the coming months, it’s the cotton growers who are expected to reap rich dividends this season,” he added.**After making a record purchase of 50 per cent of the total cotton produced in the state during previous procurement season, the CCI did not even enter the market this year as private players were already buying cotton at prices way above the MSP.**Modan Singh, a buyer from Bathinda-based private cotton mill, said: “Last season, more than 1,000-1,500 quintals was sold daily at mandis in Bathinda and now the arrival has come down to 250-400 quintals. Even though quality of cotton is not that good as compared to the last season, still we are compelled to buy it at higher rates.”**He said as there was pink bollworm attack on the crop in Malwa region this time, there was a sense of uncertainty whether they would be able to buy the required quantity of cotton this season or not. “But unfortunately, farmers are brining less and low quality of cotton to markets these days. Labour shortage is another factor that is on the minds of buyers as they would remain engage

Rupee gains 47 paise, closes at 74.87The rupee is showing strength against the dollar. Rupee is seen at the high of almost 2 weeks. The rupee has strengthened by 47 paise to close at 74.87 against the dollar. The rupee has opened on a strong note against the dollar. The rupee had strengthened by 23 paise to open at 75.11 today against the dollar.Sensex breaks 56 points - Nifty closed below 18,300At the end of trading, the Sensex closed at 61259.96, down 456.09 points, or 0.74 per cent. On the other hand, Nifty closed at 18,266.60, down 152.15 points or 0.83 percent.    

Committee formed to demand reopening of NTC millsA committee called “Save NTC” is formed with Members of Parliament (MPs) from States that have National Textile Corporation (NTC) mills.Convenor of the committee C. Padmanabhan said 23 NTC mills across the country, including seven in Tamil Nadu, remained shut for more than a year, since the outbreak of the pandemic in the country. The workers of these mills got just 50 % wages. The trade unions had made several representations to the Union Government, seeking reopening of the mills. However, there was no move to reopen the mills.Hence, it was decided at a meeting here on Monday to form a committee. Coimbatore MP PR Natarajan participated in the meeting that had trade union leaders from Tamil Nadu, Kerala and Andhra Pradesh.The committee would meet the Ministers and officials concerned and take up the issue of the NTC mills. There was a fear among the workers and the unions that the government might privatise these mills. It was decided at the meeting to stage protests in front of Central Government offices demanding reopening of the mills. Protests would also be held in New Delhi during the Winter Session of Parliament, he said.

The Sensex market has started with gains.The market has started with gains. Sensex is seen at the level of 61834.38 with a gain of 118.33 points or 0.19 percent. On the other hand, Nifty is trading at the level of 18441.30 with a gain of 22.50 points or 0.12 percent.

*All India Weather Forecast for October 20, 2021**Weather systems made across the country*A low pressure area is now persisting over central parts of Uttar Pradesh, which will move eastwards and may weaken gradually.The associated cyclonic circulation extends up to 5.8 km above mean sea level.A trough from the cyclonic circulation associated with the Low Pressure Area is extending to North Coast of Tamil Nadu across Chhattisgarh, Odisha and Coastal Andhra Pradesh.Dry and cold northwesterly winds are blowing over Northwest and Central India.*Weather movement across the country during the last 24 hours*During the last 24 hours, heavy to very heavy rainfall occurred over parts of Uttarakhand and Northwest Uttar Pradesh, Sub-Himalayan West Bengal and Sikkim.Light to moderate rain with isolated heavy falls occurred over remaining parts of West Bengal, remaining parts of Uttar Pradesh, Bihar and East Madhya Pradesh.Light to moderate rain occurred over rest of Northeast India, Odisha, parts of Chhattisgarh, Lakshadweep, Kerala, parts of Tamil Nadu, Himachal Pradesh, Jammu and Kashmir and isolated parts of South Interior Karnataka.Light rain occurred over isolated parts of Punjab, Haryana, Delhi, East Rajasthan, remaining parts of Madhya Pradesh, Andaman and Nicobar Islands and Madhya Maharashtra and Northwest Rajasthan.*Possible weather activity during next 24 hours*During the next 24 hours, light to moderate rain with isolated heavy falls at isolated places is likely over East Uttar Pradesh, Bihar, parts of West Bengal, Sikkim, Assam, Meghalaya, Arunachal Pradesh and rest of Northeast India. .Rain activities are expected to increase once again over parts of Kerala, South Interior Karnataka, Tamil Nadu and Coastal Karnataka.Light rain with few isolated places is likely over Coastal Andhra Pradesh, Coastal Odisha and Andaman and Nicobar Islands.Light rain may occur over Lakshadweep and Rayalaseema.Due to dry northwesterly and cool winds, the weather over Northwest and Central India will remain dry with slight drop in minimum temperatures.

Today evening, the rupee depreciated by 9 paise to close at Rs 75.34 against the dollar.Sensex falls, Sensex closed after breaking 50 pointsToday the stock market closed with a fall. Today, where the Sensex closed at the level of 61716.05 points, down by about 49.54 points. On the other hand, Nifty closed at 18418.80 points down by 58.20 points.