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Rupee strengthens by 18 paise against dollar, opens at 74.80Rupee has started with a strong opening against the dollar in the foreign exchange market. Rupee strengthened by 18 paise to open at 74.80 level against dollar today. On the other hand, on Wednesday, the rupee weakened by 53 paise to close at 74.98 against the dollar.Sensex opens up by 452 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 452.42 points to open at the level of 59642.15 points. On the other hand, the Nifty of NSE opened with a gain of 132.00 points at the level of 17778.00 points.  

*PAKISTAN COTTON MARKET UPDATE**Spot rate gains Rs 400 per maund at Rs 14,300**The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 400 per maund and closed it at Rs 14300 per maund.**The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 400 per maund and closed it at Rs 14300 per maund. The Spot Rate remained unchanged at Rs 13900 per maund.* *The Polyester Fibre was available at Rs 225 per kg. The local cotton market on Wednesday remained bullish and trading volume remained good.**Chairman Karachi Brokers Forum Naseem Usman told Business Recorder that rate of cotton in local cotton market reached at Rs 15500 per maund which is at highest level in ten years. Textile mills were in shock due to the sky rocketing rates of cotton.**Naseem Usman also told that Rate of Promise (Waday Ka Bhao) of New York Cotton once again traded at more than one dollar. The rate of cotton in the morning opened at 113.92 American cent.**Usman says increasing disparity among dollar and rupee, recent spell of rains in Punjab’s cotton belt, reports of white-fly, mealybug and pink bollworm attacks as well as unavailability of latest reliable data about the crop size are adding to the worries of the local buyers. The rate of cotton in Sindh is in between Rs 12500 to Rs 15000 per maund and the rate of cotton in Punjab is in between Rs 14300 to Rs 15000 per maund.**The rate of the new crop of Phutti in Sindh was in between Rs 5000 to Rs 6200 per 40 kg. The rate of Phutti in Punjab is in between Rs 5800 to Rs 6500 per 40 kg. The rate of Banola in Sindh is in between Rs 1600 to Rs 1900 per maund. The rate of Banola in Punjab is in between Rs 1700 to Rs 2000 per maund. The rate of cotton in Balochistan is in between Rs 14200- 14800 per maund. The rate of Phutti in Balochistan is Rs 5800-7200 per maund.*

*Punjab deputy CM orders immediate completion of special girdawari to assess cotton crop loss**Punjab Deputy Chief Minister Sukhjinder Singh Randhawa on Wednesday directed to complete the work of special girdawari immediately to assess the actual damage to cotton crop by pink bollworm infestation.**Randhawa directed the financial commissioner (development) to ensure that the affected farmers be compensated before Diwali after completion of the special girdawari, so that the losses incurred by the farmers of the cotton belt could be compensated. In a statement here, the state's deputy chief minister said that after the attack of pink bollworm on the cotton crop in the Malwa belt, the affected areas were earlier visited under the leadership of the chief minister.**Agriculture Minister Randeep Singh Nabha said that from the next season of the cotton crop, mating disruption technology will be introduced to check infestation of pink bollworm.**High incidence of pink bollworm was reported on BG11 cotton yield in the Malwa region, which had adversely affected the crop yield, said the statement.**The current situation of the cotton farmers in Punjab is grave due to pink bollworm as most of the farmers have uprooted the crop and are demanding compensation from the government.**The minister directed all the department officials to introduce mating disruption technology which is considered the gold standard in crop protection and is well known in western countries and has been used in crops like grapes and apples over the years.**Several trials of this technology with the state agriculture universities and with farmers over the past four years have been done that show significant results across multiple states in India.**Punjab Agricultural University has also been conducting the trials of the product and has seen significant benefits to the farmers.**The technology is no-pump no-spray and the product is in the form of a paste which has to be applied by the farmer in three applications at a 30 days interval,**

*China power shortage to benefit textile exporters but high cotton prices a dampener**Textile exports from India have surged as companies rush to tap the increased demand for cotton and yarn across the world amid a decline in supplies from China.**Exports of cotton yarn grew 5.5 percent to about 1 million tonnes during FY21 and shipments spiked by about 60 percent to 448,000 tonnes during April-July this year, according to Bhagyashree Bhati, assistant director, industry research, Care Ratings.**Economists said there could be a further increase in India’s cotton and textile exports as China faces power shortages.**“The textile industries in Jiangsu, Zhejiang and Guangdong, which are major hubs for the products, are affected due to power shortage. Another textile hub Xinjiang is affected due to labour issues and this has impacted textile exports from the country,” said OP Gulia, CEO (India) of SVP Global Ventures, a cotton yarn manufacturer.**China contributed about 39 percent of the world’s textile exports, with the US and Europe as its major markets, before the pandemic, according to experts. However, the country’s share has narrowed to 31 percent and analysts indicate that it could drop below 30 percent due to stalled production.**“Demand for textiles has picked up drastically as we emerge from the second wave and given the supply crunch in China, India can benefit,” said Gulia. “We are expecting a 28-30 percent increase in textile export revenue due to the developments in China.”**Prices surge**High demand for cotton and the supply shortfall have also led to a spike in cotton prices, which are at a decade high globally. India, too, witnessed a price rise, although it was relatively lower than in the international markets.**“Cotton prices of S-6 variety in India averaged at Rs 135 per kg during October 2020-August 2021, which is 6.6 percent lower than the average international prices of Cotlook A index at Rs 145 per kg during the period,” said Bhati.**Experts indicated that the high prices of cotton in India are also the result of higher exports. According to Hetal Gandhi, director, CRISIL Research, Indian cotton is available at lower prices than international cotton prices and any increase in international prices drives demand for Indian cotton. Apparel makers hit While high cotton prices have helped exports, apparel makers are struggling with rising input costs.**“Brands were reluctant to hike prices until recently due to the drop in consumer demand. But we are now asking brands – international as well as domestic – to increase prices and they might pass it to the end-consumer in the months ahead,” said Arvind Mathur, CEO, Raymond UCO Denim, a supplier to international and national brands.**Others are in a wait-and-watch mode and may increase prices of clothing products if high prices persist. However, experts indicated that the situation may not abate soon.**“In the global market, prices continued to remain under pressure due to a decline in end stocks, largely in India, Brazil and Turkey, leading to a wider demand-supply gap. Expected decline in acreage in China, India and Pakistan will put further pressure on prices going forward,” said Gandhi.*

*All India Weather Forecast for October 07, 2021**Weather systems made across the country*Conditions are now becoming favorable for early withdrawal of monsoon from North-West India.The Cyclonic Circulation lies over Sub-Himalayan West Bengal and adjoining region.Another cyclonic circulation is over southwest Bay of Bengal, extending up to 5.8 km above sea level and sloping southwards with altitude.A trough is extending from a cyclonic circulation over southwest Bay of Bengal to southeast Arabian Sea across Tamil Nadu and Kerala.A Cyclonic Circulation is persisting over Central Pakistan.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain occurred at isolated places over Kerala, Tamil Nadu, parts of Karnataka and Sub-Himalayan West Bengal, Assam, Vidarbha and Andaman and Nicobar Islands.Light to moderate rain occurred at isolated places over rest of Northeast India, Goa, Madhya Maharashtra, Coastal Andhra Pradesh, South-East Madhya Pradesh, Chhattisgarh, Odisha and Haryana.Western Uttar Pradesh, Telangana, Delhi and Marathwada experienced moderate rain with one or two isolated spells of rain.Isolated light rain occurred over Northwest Rajasthan, Uttarakhand, Himachal Pradesh and Konkan and Goa.*Possible weather activity during next 24 hours*During the next 24 hours, light to moderate rain at isolated places is likely to occur at isolated places over Karnataka, parts of Kerala, Andaman and Nicobar Islands, Tamil Nadu, parts of Maharashtra and Manipur, Mizoram and Tripura. Is.Light to moderate rain is likely over West Bengal, Sikkim, rest of Northeast India, parts of Odisha, Chhattisgarh, parts of Madhya Pradesh, Coastal Andhra Pradesh and Telangana.

Today evening, the rupee depreciated by 53 paise to close at Rs 74.98 against the dollar.Sensex falls again, 555 points fallToday the stock market closed with a fall. Today, where the Sensex closed at the level of 59189.73 points, down about 555.15 points. On the other hand, Nifty closed at 17646.00 points down by 176.30 points.  

Rupee reaches 12-week low, loses 18 paise, opens at 74.63There was weakness in the rupee against the dollar in the foreign exchange market and the rupee has reached a low of about 12 weeks. Rupee weakened by 18 paise to open at 74.63 level against dollar today. On the other hand, in Tuesday's trade, the rupee had closed down by 13 paise against the dollar. The rupee today closed at 74.44 against the dollar.The market has started with gains. Sensex is trading at the level of 59,885.58 with a gain of 140.7 points or 0.24 percent. On the other hand, Nifty is seen at the level of 17,869.05 with a strength of 39.00 points or 0.26 percent.  

Cotton Prices Surge to Highest Level in a DecadeChina buys up U.S. supplies of crop, even as Trump-era import ban limits use of Chinese-grown fiberCotton futures are trading at their highest price in about a decade, with growing Chinese demand being met in part by rising U.S. exports to China, a curiosity of Trump-era trade-war policies.Most-active U.S. cotton futures trading on the Intercontinental Exchange closed Tuesday up 3.8% at $1.09 a pound, keeping prices at their highest level since September 2011. Prices have risen 22% over the past 11 sessions.Higher clothing prices could eventually follow.Prices for other raw materials, such as lumber, have surged this year, because of high demand and supply-chain kinks that have kept goods from getting to customers who want them. Prices for other U.S. crops, such as corn and wheat, have jumped this year amid drought conditions in the U.S. and abroad. Cotton shows the sometimes-unexpected effects that trade policy can have on prices.Last year, President Donald Trump banned U.S. imports of clothing and other products made of cotton from the Xinjiang region, China’s largest cotton-producing area. The administration said at the time that there was evidence that the products were made with forced labor by the Uyghur ethnic group.“China has become more active in the world market,” he said, adding that the U.S. can offer the volume and quality of cotton that China wants.Yet, China’s robust demand for cotton and other raw materials could peter out. Power outages have swept through Chinese provinces, with the government sometimes forcing factories to shut down to save energy. The National Bureau of Statistics in Beijing reported Thursday that the country’s manufacturing activity contracted in September, ending an 18-month expansion streak.“Power rationing will constrain industrial activity until demand weakens enough to bring the domestic electricity market back into equilibrium,” said Julian Evans-Pritchard, senior China economist with Capital Economics, in a note last week.

*Cotton price hits decade high**With just a little break, cotton prices have again started to go up in international markets, mainly because of increased imports by China, the largest consumer worldwide, and a rise in demand following the reboot of economic activities across the globe.**Every pound of cotton was traded at $1.06 – the highest in the last decade, according to the New York futures market. Earlier in 2010, the price reached $1.6 per pound.* *Besides, cotton prices registered a 35% hike over the last 10 months.**The rise in prices of cotton, the key raw material for making clothing items, will have a ripple effect on yarn prices, eventually disrupting apparel shipments, said industry people.**While talking to journalists on Tuesday, Mohammad Ali Khokon, president at Bangladesh Textile Mills Association (BTMA), said proforma invoices that they will issue for November to sell yarns might see a 15% hike in prices.**A proforma invoice is a preliminary bill or invoice used to request payment from the committed buyer for goods or services before they are supplied.**That is why he has requested apparel exporters to keep the additional cost on yarn purchases in mind while negotiating prices with buyers.**Shahidullah Azim, vice-president at Bangladesh Garment Manufacturers and Exporters Association, however, told The Business Standard that if cotton prices increase in the global markets, yarn prices in Bangladesh should rise at least after three months.* *It will not be logical to hike prices before that, otherwise, apparel makers will have to go for imports instead of sourcing domestically, they added.**"If we cannot survive, they [spinners] will not too," he said.**Khorshed Alam, chairman at the Little Star Group, said a rise in global consumption of cotton following the reopening of economic activities globally has led to a rise in its prices.**Besides, China is now stocking up on a big amount of cotton to meet their future needs, maybe foreseeing any possible crisis, he also said.**"When I was negotiating with an Indian supplier for importing 200 tonnes of cotton, its price went up by $.02 per pound," he added.**Prices of cotton had been rising worldwide since the beginning of this year, leading to a surge in yarn and fabric prices.**Prices of cotton had been rising worldwide since the beginning of this year, leading to a surge in yarn and fabric prices.**RMG entrepreneurs have claimed that local spinning mills have been charging much higher than in the global market, while spinners have repeatedly clarified that they hiked prices in line with cotton prices.**Both the parties, however, recently reached an agreement on pricing of yarns.**In FY21, Bangladesh, the second largest exporter, earned around $39 billion in merchandise exports, of which apparel items accounted for over 31 billion. The country also stands at the second position in cotton imports as in the last fiscal year, it imported over 8 million bales of cotton, mainly from African countries.*  

*Cabinet may approve mega textile park scheme on Wednesday**The Union Cabinet is likely to approve on Wednesday a scheme proposed by the textiles ministry to setup seven  mega investment textile parks (MITRA) to attract investments into the sector and generate employment.**Officials said the scheme could be taken up by the Cabinet and if approved, it will pave the way to set up mega parks with integrated facilities and plug-and-play infrastructure on over 1,000 acres in the next three years, on the lines of China and Vietnam.**“It is likely to be cleared by the Cabinet and some states have already shown interest in setting up the parks,” said an official.**Announced in Budget FY22, the MITRA parks will also have uninterrupted water and power supply, common utilities and research and development labs. They are intended to have and quick turnaround time to minimise transportation losses, aimed to attract big-ticket investments in the sector.**States will have to ensure road connectivity and power availability for the parks.**The parks are crucial to attract foreign direct investment (FDI). From April 2000 to September 2020, India’s textile sector received Rs 20,468.62 crore, or $3.4 billion, of FDI, which is just 0.69% of the total FDI inflows during the period.**Disclaimer: The above content is non-editorial, and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or necessarily endorse any of the above content, nor is responsible for them in any manner whatsoever. The article does not constitute investment advice. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified.*

*All India Weather Forecast for October 06, 2021**Weather systems made across the country*Conditions are becoming favorable for withdrawal of Monsoon from western part of Rajasthan by tomorrow, 6th October, with the formation of an Anti Cyclone likely over western parts of Rajasthan.A Cyclonic Circulation is persisting over Sub-Himalayan West Bengal and adjoining region.The Cyclonic Circulation lies over South-West Bay of Bengal and adjoining Coastal Tamil Nadu.A trough is extending from this cyclonic circulation to Southeast Arabian Sea across Tamil Nadu and Kerala, where another Cyclonic Circulation is persisting.*Weather movement across the country during the last 24 hours*During the last 24 hours, isolated heavy to very heavy rainfall occurred over Gangetic West Bengal, Tamil Nadu, foothills of Uttar Pradesh and Haryana.Light to moderate rain occurred over Tamil Nadu, Kerala, South Interior Karnataka, Andaman and Nicobar Islands, Marathwada, Madhya Maharashtra, parts of Chhattisgarh, Madhya Pradesh, central parts of Uttar Pradesh, Himachal Pradesh, Assam, Meghalaya and Arunachal Pradesh.Light rain occurred over Uttarakhand, rest of Northeast India, parts of Telangana, Coastal Karnataka, North Interior Karnataka and Lakshadweep.*Probable weather activity during next 24 hours*Conditions are becoming favorable for the withdrawal of monsoon from October 6.During the next 24 hours, light to moderate rain with isolated heavy falls at isolated places is likely over Andaman & Nicobar Islands, Tamil Nadu, South Coast of Andhra Pradesh, parts of Kerala and Lakshadweep.Light to moderate rain at isolated places over Northeast India, parts of West Bengal, Sikkim, parts of Madhya Pradesh, Vidarbha, Marathwada, Madhya Maharashtra, Coastal Karnataka, South Interior Karnataka and Chhattisgarh, Rayalaseema and Uttar Pradesh .Light rain may occur at isolated places over Bihar, Jharkhand, Odisha, North Interior Karnataka, Uttarakhand, Himachal Pradesh, Jammu and Kashmir and Northwest Rajasthan, Punjab and Haryana.