Recent News

*All India Weather Forecast for September 22, 2021**Weather systems made across the country*A Cyclonic Circulation is persisting over Rajasthan and adjoining region. A trough is extending from the cyclonic circulation over East Rajasthan to Northeast Arabian Sea across Gujarat. A trough is extending from Interior Karnataka to Comorin area across Interior Tamil Nadu. A Cyclonic Circulation is persisting over South Coast of Tamil Nadu.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain with isolated heavy falls over Gangetic West Bengal, parts of South Madhya Pradesh, Southeast Rajasthan, parts of Telangana, Andhra Pradesh, isolated parts of Tamil Nadu, South Interior Karnataka and North Punjab It was heavy at some places.Light to moderate rain occurred over parts of Uttar Pradesh, parts of Jharkhand, remaining parts of Telangana, North Interior Karnataka, Marathwada, Andaman and Nicobar Islands and Coastal Tamil Nadu.*Possible weather activity during next 24 hours*During the next 24 hours, light to moderate rain at isolated places will occur over Odisha, Gangetic West Bengal, parts of Gujarat, East Rajasthan, parts of Vidarbha, Marathwada, Telangana, Gujarat region, Konkan and Goa and Andaman and Nicobar Islands. But it might rain heavily. Light to moderate rain may occur over parts of Punjab, Haryana, Delhi, Jammu and Kashmir, remaining parts of Rajasthan, Interior Karnataka, Chhattisgarh, Tamil Nadu and Lakshadweep. Light rain is possible over Kerala and Andhra Pradesh.

*PAKISTAN COTTON MARKET UPDATE**Official spot rate drops sharply**The Spot Rate Committee of the Karachi Cotton Association (KCA) on Tuesday decreased the spot rate by Rs 400 per maund and closed it at Rs 12700 per maund.**The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 400 per maund and closed it at Rs 12700 per maund. The Polyester Fiber was available at Rs 222 per kg. The local cotton market remained bearish and the volume remained satisfactory.**Cotton Analyst Naseem Usman told Business Recorder that Punjab Seed Council in its meeting gave approval to the five new varieties of Bt cotton and one variety of non BT cotton of Central Cotton Research Institute Multan.**The rate of cotton in Sindh is in between Rs 11000 to Rs 12400 per maund and the rate of cotton in Punjab is in between Rs 12400 to Rs 12800 per maund. The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 6400 per 40 kg.**The rate of Phutti in Punjab is in between Rs 4500 to Rs 5400 per 40 kg. The rate of Banola in Sindh is in between Rs 1500 to Rs 1600 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 1700 per maund. The rate of cotton in Balochistan is in between Rs 12200- 13000 per maund. The rate of Phutti in Balochistan is Rs 5800- 6400 per maund.*

*ICE COTTON SUMMARY**Cotton rises over 1%**ICE cotton futures rose more than 1% on Tuesday, with mills taking advantage of a steep fall in the previous session to buy back some of the natural fiber, while a weaker dollar offered further support.**“People that are looking to get back in the market are taking advantage of these lower prices that we haven’t seen in a month or two. It could be related to new speculators or also could be related to some mill fixations,” Bailey Thomen, cotton risk management associate at StoneX Group said.**“Also the US dollar has pulled back a little bit which is helping commodities. However, the cotton market is still susceptible to a further sell off from some of these outside market forces”**The dollar slipped 0.1% against its rivals after touching a near one-month peak on Monday, making cotton less expensive for buyers holding other currencies.**World stock markets stabilized after a sharp sell-off, as investors assessed the level of contagion stemming from distress of debt-saddled property group China Evergrande.**Total futures market volume fell by 35,805 to 17,827 lots. Data showed total open interest fell 8,727 to 263,976 contracts in the previous session.*

Today evening, the rupee strengthened by 13 paise to close at Rs 73.61 against the dollar.Sensex rises again, closes up by 514 pointsToday the stock market closed sharply. Today, where the Sensex closed at the level of 59005.27 points with a gain of about 514.34 points. At the same time, the Nifty closed at the level of 17562.00 points with a gain of 165.10 points.  

Bathinda: Cotton growers protest against pest attackAngered by the growing problem of pink bollworm in Malwa region, hundreds of farmers led by BKU (Ekta Ugra) leader Jagdev Singh Jogewala staged a protest outside the District Agriculture Officer's office here on Monday.They also brought with them the destroyed cotton crop. Farmers claimed that pink bollworm had destroyed 80 to 90 percent of the cotton crop, but the agriculture department was still in deep sleep.Jogewala said that there has been a widespread attack of pink bollworm in Bathinda and Mansa districts. He said it was similar to the whitefly attack of 2015, when most of the cotton crop was destroyed. He alleged that the agriculture department was underestimating the damage caused by the pink bollworm to hide its failure.Meanwhile, farmer leaders Kulwinder Singh Giana and Kulwant Sharma alleged that fake Bt cotton seeds were given to growers this time, which led to the pink bollworm attack. He said that this has been done by the big companies and the government under an agreement with the corporate houses. "This is a step to grab our land."The protesters said they would be forced to plow their cotton crop in the coming days and demanded a high-level probe into the Bt seeds case.The farmers further said that after Bathinda and Mansa, the pest outbreak had started in other districts as well. He said farmers have sprayed pesticides three to four times so far, but the pink worm is still present. The leaders demanded that the Punjab government should give a special compensation of Rs 60,000 per acre to the farmers.

Rupee opens 14 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 14 paise at Rs 73.60 against the dollar. At the same time, on Monday, the rupee declined by 26 paise to close at Rs 73.74 against the dollar.Sensex rises again, opens up 215 pointsToday the stock market opened with great momentum. Today, the BSE Sensex opened with a gain of 214.90 points at the level of 58705.83 points. On the other hand, the Nifty of NSE opened with a gain of 57.00 points at the level of 17453.90 points. Today, trading started in a total of 1,906 companies in the BSE, out of which about 1,078 shares opened with a rise and 720 with a fall. 

PAKISTAN COTTON MARKET UPDATECotton prices drop despite strong demandThe Spot Rate Committee of the Karachi Cotton Association on Monday decreased the spot rate by Rs 150 per maund and closed it at Rs 13100 per maund.The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 150 per maund and closed it at Rs 13100 per maund. The Polyester Fiber was available at Rs 222 per kg.The local cotton market remained bearish and the volume remained satisfactory. Cotton Analyst Naseem Usman told Business Recorder that Punjab Seed Council in its meeting gave approval to the five new varieties of Bt cotton and one variety of non BT cotton of Central Cotton Research Institute Multan.The rate of cotton in Sindh is in between Rs 12000 to Rs 12900 per maund and the rate of cotton in Punjab is in between Rs 12600 to Rs 12800 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 5500 per 40 kg. The rate of Phutti in Punjab is in between Rs 4800 to Rs 5600 per 40 Kg. The rate of Banola in Sindh is in between Rs 1500 to Rs 1600 per maund. The rate of Banola in Punjab is in between Rs 1550 to Rs 1700 per maund. The rate of cotton in Balochistan is in between Rs 12700- 12800 per maund. The rate of Phutti in Balochistan is Rs 5800- 6500 per maund.

All India Weather Forecast for September 21, 2021Weather systems made across the countryThe Cyclonic Circulation lies over North Odisha. A low pressure area is persisting over eastern parts of Rajasthan and adjoining western parts of Madhya Pradesh. A trough is extending from Telangana to South Tamil Nadu across Rayalaseema at a low level.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain at isolated places over Gangetic West Bengal, North Konkan and Goa, parts of Odisha and isolated parts of Gujarat, West Madhya Pradesh, Vidarbha, South Tamil Nadu and South Coast of Andhra Pradesh. But it rained heavily. Light to moderate rain occurred over remaining parts of Tamil Nadu, Gujarat, South and Southeast Rajasthan, parts of Madhya Pradesh, Uttarakhand, Himachal Pradesh, Chhattisgarh, parts of Jharkhand and parts of Bihar and Assam. Light rain occurred over North Haryana, Western parts of Rajasthan, isolated parts of Kerala, Coastal Karnataka, Telangana and Andhra Pradesh.Possible weather activity during next 24 hoursDuring the next 24 hours, Gangetic West Bengal, parts of Odisha, Vidarbha, Marathwada, parts of Telangana, Konkan and Goa, parts of Madhya Pradesh, Gujarat, south and southeast Rajasthan, Andaman and Nicobar Islands and Uttarakhand Light to moderate rain with isolated heavy rains may occur at some places.Sub-Himalayan West Bengal, Northeast India, parts of Bihar, Jharkhand, Uttar Pradesh, Chhattisgarh, Madhya Maharashtra, Coastal and North Interior Karnataka, Coastal Andhra Pradesh, parts of Tamil Nadu, Punjab, Haryana, parts of Delhi and Himachal Pradesh Light to moderate rain may occur. . Light rain is possible over South Interior Karnataka, Kerala, Lakshadweep, Saurashtra, Kutch and Western parts of Rajasthan.

Today evening, the rupee depreciated by 26 paise to close at Rs 73.74 against the dollar.Sensex fell, closed after breaking 525 pointsToday the stock market closed with a fall. Today, where the Sensex closed at the level of 58490.93 points, down by about 524.96 points. On the other hand, Nifty closed at 17396.90 points down by 188.30 points.  

Cotton Corporation India, Navi MumbaiAppeal to Cotton BuyersCCI is extending attractive lifting period of 90 days on buying of just 5000 bales for MSME mills category, 10,000 bales for other spinning mills and 50,000 bales for Cotton Traders. The benefit of the scheme is available upto 30th September 2021. Therefore our esteemed buyers are advised to plan their purchases accordingly.

With new arrivals, cotton rates above MSPTrade estimates prices to fall by Nov as more bales hit the market The new cotton crop has begun arriving in northern markets, Karnataka and Telangala with prices of kapas (raw cotton) ruling at least 10 per cent higher than the minimum support price (MSP) levels fixed by the Centre for the new season starting October.The trade estimates the daily market arrivals at over 10,000 bales, bulk of it mainly in the North. Modal prices (rates at which most trade in the natural fibre takes place) of raw cotton are hovering between ₹6,400 and ₹7,000 per quintal across various markets, depending on the quality and moisture content. Prices are higher than the MSP of ₹5,726 per quintal.“Overall, the crop looks good in North India. The prices are in the ₹6,000-7,000 range, depending on moisture, which is 12-14 per cent,” said Sushil Phutela, Director, Indian Cotton Association Ltd in Bhatinda.The trade expects the North India crop to be better than last year’s 65 lakh bales. “The crop won’t be less than last year. The rains are seen boosting yields, while in some areas there has been some impact. Overall, we expect the crop to be 1-2 lakh bales higher than last year,” Phutela said.Cotton acreage this year is lower by 5.75 per cent at 119.66 lakh hectares, as per Agriculture Ministry’s latest data. “The overall crop condition is good as on date and, based on the feedback from the 10 growing States, the yield will be much higher this year and quality very good,” said Atul Ganatra, President, Cotton Association of India (CAI), the apex trade body. CAI is expected to come out with crop projections by the month-end.Sporadic arrivalsCAI had earlier estimated closing stocks for the crop year 2020-21 as on September 30 at 82.50 lakh bales of 170 kg each. Sporadic arrivals have also started from Karnataka, Andhra Pradesh, Telangana, Maharashtra and Gujarat. “Kapas prices are ₹6,900-7,500 per quintal, while cottonseed trades in the ₹3,700-4,000 range. Arrivals will increase after October 15 and there are chances of prices coming down, but unlikely to go below MSP till November-end. It all depends on the crop size and market arrivals,” said Ramanuj Das Boob, a sourcing agent for spinning mills and multinational companies in Raichur.Phutela said the demand is slow as most of the spinning mills have covered their needs till December. If the moisture comes down, demand may improve over the next couple of weeks. “I think by mid-November, the Cotton Corporation of India (CCI) may enter the markets in half growing regions. Many feel that the CCI may not get a chance to enter the market as minimum prices are above MSP. However, with cottonseed prices coming pressure, raw cotton may also come down below MSP by mid-November,” Phutela said.