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PAKISTAN COTTON MARKET UPDATESpot rate loses more Rs300 amid hectic tradingThe Spot Rate Committee of the Karachi Cotton Association on Friday decreased the spot rate by Rs 300 per maund and closed it at Rs 13200 per maund.The Spot Rate Committee of the Karachi Cotton Association on Friday decreased the spot rate by Rs 300 per maund and closed it at Rs 13200 per maund. The Polyester Fibre was available at Rs 222 per kg.The local cotton market remained bearish and the volume remained satisfactory. Cotton Analyst Naseem Usman Business Recorder that the reason behind downward trend in the rate of cotton is rains in the cotton growing areas of Sindh and Punjab due which the supply of Phutti was effected. Second reason is the arrival of imported Phutti and liquidity crunch.The rate of cotton in Sindh is in between Rs 12000 to Rs 13000 per maund and the rate of cotton in Punjab is in between Rs 13000 to Rs 13300 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 5000 to Rs 5700 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5400 to Rs 5800 per 40 Kg. The rate of Banola in Sindh is in between Rs 1550 to Rs 1650 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 12900- 13000 per maund. The rate of Phutti in Balochistan is Rs 6000- 6700 per maund.

U.S. EXPORT SALES FOR WEEK ENDING 02/09/2021Soybean Cake and Meal:  Net sales of 60,700 MT for 2020/2021 were up noticeably from the previous week, but down 9 percent from the prior 4-week average.  Increases primarily for Mexico (24,100 MT, including decreases of 200 MT), Malaysia (8,500 MT), Canada (6,100 MT, including decreases of 200 MT), Taiwan (5,800 MT), and the Philippines (5,200 MT), were offset by reductions primarily for unknown destinations (8,300 MT).  For 2021/2022, net sales of 48,300 MT primarily for Japan (20,500 MT), the Dominican Republic (15,000 MT), Canada (9,100 MT), Colombia (8,600 MT), and Jamaica (8,000 MT), were offset by reductions primarily for unknown destinations (19,000 MT).  Exports of 44,300 MT were down 77 percent from the previous week and 80 percent from the prior 4-week average.  The destinations were primarily to Canada (16,700 MT), Mexico (13,100 MT), Guyana (4,200 MT), Venezuela (3,100 MT), and Burma (2,400 MT). Soybean Oil:  Total net sales reductions for 2020/2021 of 1,600 MT, down noticeably from the previous week and from the prior 4-week average, were for Canada (including decreases of 1,800 MT).  Total net sales for 2021/2022 of 100 MT were for Canada.  Exports of 400 MT were down 91 percent from the previous week and 73 percent from the prior 4-week average.  The destination was primarily to Canada (300 MT).

U.S. EXPORT SALES FOR WEEK ENDING 02/09/2021Soybeans:  Net sales for the 2021/2022 marketing year, which began September 1, totaled 1,471,900 MT.  Increases were primarily for China (764,000 MT), unknown destinations (453,600 MT), Mexico (79,100 MT, including decreases of 400 MT), Turkey (55,000 MT), and Egypt (55,000 MT).  A total of 1,805,800 MT in sales were carried over from the 2020/2021 marketing year, which ended August 31.  Exports for the period ending August 31 of 283,100 MT brought accumulated exports to 60,570,500 MT, up 35 percent from the prior year’s total of 44,934,500 MT.  The primary destinations were Germany (152,200 MT), Japan (58,100 MT), Mexico (42,700 MT), Indonesia (9,200 MT), and Taiwan (8,100 MT).  Exports for September 1-2 totaled 13,800 MT, with Mexico (10,500 MT), Malaysia (2,200 MT), the Philippines (600 MT), Japan (300 MT), and Indonesia (200 MT) being the destinations.Export for Own Account: For 2021/2022, new exports for own account totaling 5,800 MT were carried over from the 2020/2021 marketing year, which ended August 31.  The current exports for own account outstanding balance is 5,800 MT, all Canada.Export Adjustments:  Accumulated export of soybeans to the Netherlands were adjusted down 65,966 MT for week ending August 19th, and 86,200 MT for week ending August 26th.  The correct destination for these shipments is Germany.  

U.S. EXPORT SALES FOR WEEK ENDING 02/09/2021Cotton:  Net sales of 453,000 RB for 2021/2022 primarily for China (261,500 RB, including decreases of 100 RB), Pakistan (36,500 RB), Indonesia (30,500 RB, including decreases of 100 RB), Guatemala (28,400 RB), and Turkey (25,400 RB, including decreases of 300 RB), were offset by reductions for Japan (1,100 RB) and Bangladesh (200 RB).  Total net sales for 2022/2023 of 19,500 RB were for Guatemala.  Exports of 155,300 RB were primarily to Vietnam (48,600 RB), China (29,100 RB), Pakistan (16,600 RB), Mexico (16,000 RB), and Turkey (14,300 RB).  Net sales of Pima totaling 12,100 RB were primarily for India (5,500 RB, including decreases of 100 RB), Austria (2,600 RB), Honduras (2,200 RB), Pakistan (900 RB) and South Korea (700 RB).  Exports of 12,000 RB were primarily to India (7,700 RB), Pakistan (2,200 RB), China (1,000 RB), Peru (400 RB), and Thailand (400 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).

pakistan cotton market updateThere is no respite from the declining trend in the cotton marketThe Spot Rate Committee of Karachi Cotton Association on Thursday reduced the spot rate by Rs 200 per mind and closed it at Rs 13,500 per mind.Polyester fiber was available at Rs 222 per kg.The local cotton market remained on a downtrend and the business was satisfactory.Cotton analyst Naseem Usman Business Recorder said the fall in cotton rates was mainly due to rains in the cotton growing regions of Sindh and Punjab, affecting the supply of ftti. The second reason is the arrival of imported footwear and lack of liquidity.The price of cotton in Sindh is between Rs.12200 to Rs.13200 per mand and the price of cotton in Punjab is between Rs.13000 to Rs.13300 per mind.The price of new foot crop in Sindh ranged from Rs 5200 to Rs 5700 per 40 kg. The price of ftti in Punjab is between Rs 5200 and Rs 5700 per 40 kg.Banola price in Sindh is between Rs 1550 to Rs 1700 per mind. Banola price in Punjab is between Rs 1600 to Rs 1700 per mind. Cotton price in Balochistan is Rs.13200 per mand. The rate of foot in Balochistan is Rs 6100-6700 per mind.

ICE cotton dips as traders await USDA reportsICE cotton futures eased on Thursday ahead of a monthly supply and demand report, with some traders expecting the United States Department of Agriculture (USDA) to raise its estimate for US supply in the report.The USDA’s keenly awaited World Agriculture Supply and Demand Estimate (WASDE) report is due on Friday.Peter Egli, director of risk management at British merchant Plexus Cotton, said the USDA could raise its estimate for US output as current conditions pointed to a good crop.“Supplies are tight now and shipments are being delayed in a lot of places, but supply is going to start to stream in about one to two months and then we will see how quickly we can satisfy demand,” Egli said.The USDA’s weekly crop progress report on Tuesday showed 61% of the cotton crop was in a good-to-excellent condition in the week ended Sept. 5. That was down from 70% in the prior week, but still well above the 44% for the same period a year ago.Market participants were also looking ahead to the USDA’s weekly export sales report on Friday. The report was delayed due to the Labor Day holiday.“The global economy is weakening and we have to see what that means for demand going forward,” Egli said. He added that Tropical Depression Mindy - which could bring rain to South Carolina and Georgia - was unlikely to have a major impact on supply.Certificated cotton stocks deliverable as of Sept. 8 totaled 64,455 480-lb bales, down from 68,502 in the previous session.

All India Weather Forecast for September 10, 2021Countrywide weather systemsThe Low Pressure Area lies over Central parts of West Madhya Pradesh and adjoining East Rajasthan. The associated cyclonic circulation extends up to 7.6 km above mean sea level.Weather movement across the country during the last 24 hoursLight to moderate rain occurred over South and Southeast Rajasthan, remaining parts of Madhya Pradesh, Coastal Karnataka, parts of Kerala, parts of Odisha, Himachal Pradesh, Uttarakhand and Coastal Andhra Pradesh.Light rain occurred over Delhi, remaining parts of Madhya Pradesh, West Uttar Pradesh, Telangana, Interior Karnataka and South Kerala.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with one or two parts of Telangana may occur at isolated places over Andaman and Nicobar Islands, Gujarat, Southeast Rajasthan, Madhya Pradesh, parts of Chhattisgarh, parts of Odisha and Telangana. Is. Light to moderate rain with one or two heavy spells is possible over Coastal Karnataka, Uttarakhand, Himachal Pradesh and East Rajasthan. Light to moderate rain is possible over Jammu and Kashmir, West Bengal, Northeast India, Sikkim, parts of Uttar Pradesh, Interior Odisha, Delhi, Punjab and Haryana. Isolated light rain is possible over Telangana, Interior Karnataka, Kerala and Tamil Nadu and Lakshadweep.

*Cotton woven yarn prices in India & China to rise this winter**Prices of China’s 32/1 combed cotton yarn and India’s 30/1 combed cotton yarn are expected to rise during the peak season for textiles and clothing as the demand for winter clothing is expected to increase in the coming months. The demand for new cotton is also expected to move up in China and will likely be procured immediately by the country’s spinners.**The rising demand from western countries will also strengthen the price of the cotton yarn.**The 32/1 combed cotton yarn price went up from 24.26 CNY/kg in January 2021 to 26.57 CNY/kg in June 2021. It further increased by 6.89 per cent to 28.40 CNY/kg in August 2021.**The price is expected to touch 30.04 CNY/kg in November 2021, recording a rise of 5.77 per cent.**The price of 30/1 combed cotton yarn was ₹254.81 per kg in January 2021, which increased by 4.62 per cent to ₹266.59 per kg in June 2021. It further grew by 4.13 per cent to reach ₹277.59 per kg in August 2021. The price is now likely to record a 3.71 per cent increase to reach ₹287.89 per kg in November 2021.*

*Punjab's Bhatinda reports pink bollworm infestation in cotton fields**Pink bollworm infestation has been seen in the cotton fields of Punjab's Bathinda. Gurvinder Singh, Joint Director, Agriculture Department said, "We are monitoring the situation closely with block-level officers recommending pesticides to contain worm attacks."**Singh even said that the root cause of the infestation is that some farmers used pesticides that were not recommended. "We have issued advisories to farmers. Any sort of negligence will be actionable," he said.**Singh also assured that no farmers will be bearing losses and the issue of infestation will be resolved soon.*

*Rupee depreciates against dollar, loses 17 paise*Rupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 17 paise at Rs 73.77 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 73.60 with a weakness of 18 paise against the dollar.*Sensex falls, breaks 77 points open*Today the stock market opened with a fall. Today the BSE Sensex fell by about 77.28 points and opened at the level of 58172.98 points. On the other hand, the Nifty of NSE opened with a decline of 33.50 points at the level of 17320.00 points.  

*PAKISTAN COTTON MARKET UPDATE**Cotton market crashes due to rains**The local cotton market on Wednesday crashed. Cotton analyst Naseem Usman said to Business Recorder that the reason behind crashing of market is rains in the cotton growing areas of Sindh and Punjab due which the supply of Phutti was affected. Second reason is the arrival of imported Phutti and liquidity crunch.**The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 200 per maund and closed it at Rs 13700 per maund. The rate of cotton in Sindh is in between Rs 12900 to Rs 13500 per maund and the rate of cotton in Punjab is in between Rs 13400 to Rs 13500 per maund. The rate of the new crop of Phutti in Sindh was in between Rs 5400 to Rs 5800 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 5900 per 40 Kg. The rate of Banola in Sindh is in between Rs 1600 to Rs 1700 per maund. The rate of Banola in Punjab is in between Rs 1650 to Rs 1750 per maund. The rate of cotton in Balochistan is Rs 13500 to Rs 13600 per maund. The rate of Phutti in Balochistan is Rs 6300 to Rs 6800 per maund.**The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 200 per maund and closed it at Rs 13700 per maund. The Polyester Fiber was available at Rs 222 per Kg.*