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*PAKISTAN COTTON MARKET UPDATE**Business activity improved on cotton market**The Spot Rate on Tuesday remained unchanged at Rs 17500 per maund amid improved trading activity.**The Spot Rate remained unchanged at Rs 17500 per maund. The Polyester Fiber was available at Rs 250 per kg.**Cotton Analyst Naseem Usman told that market remained stable and the trading volume remained low. He also told that that rate of quality cotton rate reached at the highest level of Rs 18000 per maund while the rate of Phutti reached at Rs 8800 per 40 kg.**He said rate of cotton in Sindh remained between Rs 14500 to Rs 18000 per maund and the rate of cotton in Punjab was registered at Rs 16400 to Rs 18000 per maund. The rate of the new crop of Phutti in Sindh was remained between Rs 5500 to Rs 7,900 per 40 kg. While Phutti prices in Punjab were between Rs 5,800 to Rs 8400 per 40 kg.**Similarly, prices of cotton in Balochistan were remained at Rs 14500 to 16,500 per maund while Phutti prices were high as compared to other two provinces which were Rs 6,300 to 8800 per maund, said Naseem Usman. The rate of Banola in Sindh was in between Rs 1,350 to Rs 2200 per maund. While in Punjab rates of Banola were in between Rs 1,650 to Rs 2,200 per maund.**As many as 2000 bales of Dherki, 1400 bales of Rahim Yar Khan were sold at Rs 18000 per maundm 400 bales of Sarkand were sold at Rs 16000 per maund, 600 bales of Marrot were sold at Rs 16450 to Rs 16600 per maund, 1800 bales of Faqeer Wali were sold at Rs 196500 per maund, 2400 bales of Haroonabad were sold at Rs 16400 to Rs 16500 per maund and 2000 bales of Yazman Mandi were sold at Rs 16500 per maund, 1200 bales of Fort Abbas were sold at Rs 16470 per maund.*

*All India Weather Forecast for November 24, 2021**Countrywide weather systems*The deep low pressure area over west central and adjoining southwest Arabian Sea has weakened into a low pressure area. The associated cyclonic circulation is extending up to the middle troposphere level. Its impact will be negligible on the mainland of India.From the cyclonic circulation associated with the Low Pressure Area over Arabian Sea, a trough is extending up to North Maharashtra Coast.A Cyclonic Circulation is persisting over South-East region adjoining Bay of Bengal. By tomorrow, it is very likely to form a low pressure area under its influence and move west-northwestwards towards Tamil Nadu coast.*Weather movement across the country during the last 24 hours*During the last 24 hours, isolated light to moderate rain at isolated places over Coastal Andhra Pradesh, parts of Tamil Nadu, parts of Kerala, parts of Interior Karnataka and South Chhattisgarh, Coastal Odisha, Sikkim, East Assam and Arunachal Pradesh It rained heavily.Light rain occurred over Lakshadweep, Andaman and Nicobar Islands, Rayalaseema, Telangana and South Madhya Pradesh.*Weather activity likely during next 24 hours*During the next 24 hours, light to moderate rain at one or two places is likely over Andaman and Nicobar Islands, Coastal Andhra Pradesh, parts of Karnataka and Tamil Nadu.Light to moderate rain with isolated rain is likely over Kerala, parts of Telangana, isolated parts of Marathwada, parts of Konkan and Goa and Madhya Maharashtra.Light rain is possible over South Chhattisgarh, parts of Odisha, Lakshadweep, Arunachal Pradesh, parts of Assam and Nagaland.Cold wave conditions are very likely over parts of Haryana and Rajasthan.The minimum temperature may drop by 2-3 degree Celsius over Northwest India and parts of Central India.

CAI releases cotton arrival and monthly balance sheet for October 2021The Cotton Association of India (CAI), in its press release on 30 October 2021, released its first estimate of cotton crop for the new season 2021-22 starting 1 October 2021 at 360.13 lakh bales of 170 kg each. Each, which is equivalent to 382.64 lakh running bells of 160 kg. each. CAI has now released the inward and monthly cotton balance sheet for the month of October.CAI has estimated the cotton arrival in October 2021 at 31.12 lakh bales of 170 kg. each (equivalent to 33.07 lakh race bales of 160 kg each).CAI has also released its monthly balance sheet for October 2021 and the total supply of cotton is estimated at 107.12 lakh bales of 170 kg. Each (equivalent to 160 kg of 113.82 lakh bales), which includes 31.12 lakh bales of 170 kg each. Import of 1 lakh bales of 170 kg each. each (equivalent to 1.06 lakh moving of 1.06 lakh bales) during the month of October 2021. each (equivalent to 79.69 lakh running bails of 160 kg) at the start of the season on 1 October 2021.Further, CAI has estimated cotton consumption at 27.91 lakh bales of 170 kg in October 2021. The export shipment of cotton is estimated to be 4.00 lakh bales of 170 kg each (equivalent to 29.65 lakh bales of 160 kg each) while by 31 October 2021. each (equivalent to 4.25 lakh running bails of 160 kg).The stock is estimated to be 75.21 lakh bales of 170 kg each at the end of October 2021. each (equivalent to 79.91 lakh race bales of 160 kg each). As on 31 October 2021, the cotton stock in the mills' godown is estimated to be 46.21 lakh bales of 170 kg. each (equivalent to 50 lakh running bales of 160 kg each). The mills have an average stock of 50 days in the godown. CCI, Maharashtra FedN, MNCs, giners, traders and exchanges are estimated to have a total stock of around 29 lakh bales of 170 kg each. each (30.81 lakh running bails equal to 160 kg) as on 31 October 2021. Thus, total stock sold by spinning mills and stockists including cotton stock but not raised with CCI and Maharashtra FedN as on 31 October 2021. There are estimated to be 75.21 lakh bales of 170 kg. each (equivalent to 79.91 lakh race bales of 160 kg each).The CAI cotton crop is estimated at 360.13 lakh bales of 170 kg each. each (equivalent to 382.64 lakh running bales of 160 kg each) and annual cotton balance sheet as notified earlier by CAI vide its press release dated 30 October 2021, will remain unchanged. CAI Crop Estimates for Cotton Season 2021-22 which includes State-wise break-up of crop and now October arrivals released by CAI, Monthly Cotton Balance Sheet for the month of October as well as Annual Cotton Balance Sheet for the whole. Cotton season 2021-ss with corresponding date of previous year is attached.

एनएसई-एनसीडीईएक्स के विलय पर सेबी की मंजूरी जल्द मिल सकती है।भारत के सबसे बड़े कृषि जिंस सूचकांक नेशनल कमोडिटी एंड डेरिवेटिव्स एक्सचेंज लिमिटेड का नेशनल स्टॉक एक्सचेंज (एनएसई) में विलय कर दिया जाएगा। Zee Business के करीबी सूत्रों ने कहा है कि बाजार नियामक भारतीय प्रतिभूति और विनिमय बोर्ड (SEBI) इस सप्ताह के भीतर अपनी सहमति दे सकता है।इक्विटी और कृषि-वस्तु खंड में भारत के दो सबसे बड़े एक्सचेंजों का विलय किया जाएगा। उन्होंने कहा कि सेबी से जल्द ही मंजूरी मिलने की संभावना है...शायद इसी सप्ताह के भीतर। यह विलय कृषि-वस्तुओं के लिए एक बड़ा बूस्टर होगा।SEBI's nod on NSE-NCDEX merger likely to come soon.India’s largest agriculture commodity index the National Commodity and Derivatives Exchange Limited will be merged with the National Stock Exchange (NSE). Sources close to Zee Business have said that market regulator Securities and Exchange Board of India (SEBI) is expected to give its consent within this week.India’s two biggest exchanges in the equity and agri-commodity segment will be merged. A clearance from SEBI is likely to come any time soon…probably within this week, he added. This merger will be a big booster for the agri-commodities.  

Indian and United States officials to look for ways to resolve trade issuesIndia and the United States agreed to look for ways to resolve differences on issues such as market access and digital trade at the start of a two-day visit by U.S. Trade Representative Katherine Tai, officials said.Negotiators from both countries have struggled for more than a year to conclude a trade package as New Delhi and Washington spar over a range of issues, including tariffs.Accompanied in New Delhi by her deputy Ambassador Sarah Bianchi, Tai raised market access restrictions, high tariffs, unpredictable regulations and restricted digital trade between the two countries."These are issues where we intent to make progress and they will be on the top of my list during the visit," Tai told Indian officials at a dinner hosted by Commerce Minister Piyush Goyal.The meeting follows Prime Minister Narendra Modi's visit to Washington in September."We have been uniquely tasked by our leaders, PM Modi and President (Joe) Biden, to strengthen our economic ties and trade based on transparency and fairness," Goyal said at the dinner.There was huge potential for growth in areas such as digital economy, health services and agriculture, Tai said.Both countries have agreed to revive their Trade Policy Forum, after a gap of four years. The revived forum could help expand bilateral trade that has never seemed to live up to its potential, Tai said.India is also working on ways to release national reserves of crude oil in tandem with the United States and other major economies in response to a request from Biden, Reuters reported earlier, citing government sources.An announcement could come as early as Tuesday, according to a source familiar with the discussions. White House and U.S. Energy Department officials said no official decision on a release had been made.

Full closure in Tirupur on 26th condemning yarn price riseCoimbatore: The price of yarn has risen by over 130 rupees since last January. The price of yarn, which was Rs.220 per kg, is now over Rs.350. There has also been an environment where yarn is available on a waiting basis by booking. Exports, domestic knitwear and textile production is severely affected due to the continuous rise in prices and exporters have suffered huge losses.The reason for the increase in yarn prices is said to be artificial shortage due to export and hoarding of raw materials like cotton. Therefore, a resolution was passed on behalf of the Tirupur Exporters and Manufacturers Association at an emergency consultation meeting in Tirupur. At the meeting it was decided that to slip into a complete shutdown and a hunger strike on the 26th, condemning the rise in yarn prices and calling for a ban on the export of raw materials such as cotton.

Rupee rumbles against dollar, 9 paise open weakRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 9 paise at Rs 74.48 against the dollar. At the same time, on Monday, the rupee declined by 15 paise to close at Rs 74.39 against the dollar.

Poor start in the Sensex, falling 520 points to openToday the stock market opened with a fall. Today the BSE Sensex fell by about 519.70 points and opened at the level of 57946.19 points.

*PAKISTAN COTTON MARKET UPDATE**Spot rate stable amid lean business**The Spot Rate remained unchanged at Rs 17500 per maund on the cotton market on Monday.**The Spot Rate remained unchanged at Rs 17500 per maund. The Polyester Fiber was available at Rs 250 per kg.**Cotton Analyst Naseem Usman told that market remained steady and the trading volume remained low. He also said that that rate of quality cotton rate reached at the highest level of Rs 18000 per maund while the rate of Phutti reached at Rs 8800 per 40 g.**He said rate of cotton in Sindh remained between Rs 14500 to Rs 18000 per maund and the rate of cotton in Punjab was registered at Rs 16400 to Rs 18000 per maund. The rate of the new crop of Phutti in Sindh was remained between Rs 5500 to Rs 7,900 per 40 kg. While Phutti prices in Punjab were between Rs 5,800 to Rs 8400 per 40 kg.**Similarly, prices of cotton in Balochistan were remained at Rs 14500 to 16,500 per maund while Phutti prices were high as compared to other two provinces which were Rs 6,300 to 8800 per maund, said Naseem Usman.**The rate of Banola in Sindh was in between Rs 1,350 to Rs 2200 per maund. While in Punjab rates of Banola were in between Rs 1,650 to Rs 2,200 per maund.**As many as 200 bales of Sarkand were sold at Rs 16000 per maund, 200 bales of Yazman Mandi, 100 bales of Haroonabad were sold at Rs 16500 per maund and 400 bales of Rahim Yar Khan were sold at Rs 18000 per maund.**The value-added textile export sector profoundly appreciates the government thoughtfulness to ensure uninterrupted supply to the export industries during winter season.*

*All India Weather Forecast for November 23, 2021**Weather systems made across the country*A Deep Low Pressure Area now lies over Southeast and adjoining East Central Arabian Sea. The associated cyclonic circulation is extending up to the middle troposphere level.A trough from the cyclonic circulation associated with a low pressure area over Arabian Sea is extending up to Maharashtra coast.The Cyclonic Circulation lies over South Andaman Sea and adjoining region.*Weather movement across the country during the last 24 hours*During the last 24 hours, isolated heavy rain with isolated light to moderate rain occurred over parts of Chhattisgarh and Coastal Andhra Pradesh.Light to moderate rain at isolated places occurred over Mumbai and suburbs.Light to moderate rain occurred over remaining parts of Chhattisgarh, parts of East Madhya Pradesh, Coastal Karnataka, North Coastal Tamil Nadu and parts of Madhya Maharashtra.Light rain occurred at isolated places over North Interior Tamil Nadu, Interior Karnataka, parts of Telangana, Vidarbha, Marathwada, Andaman and Nicobar Islands and Lakshadweep, Sikkim, Assam and Arunachal Pradesh.*Weather activity likely during next 24 hours*During the next 24 hours, light to moderate rain with isolated heavy falls is likely over parts of Chhattisgarh, Tamil Nadu and Coastal Andhra Pradesh.Light to moderate rain is possible at isolated parts of Andhra Pradesh, parts of Telangana, Maharashtra, Karnataka, Interior Tamil Nadu and Kerala and Andaman and Nicobar Islands.Light rain may occur at one or two places over South Odisha and parts of Sikkim, Assam and Lakshadweep.During the next two to three days, the minimum temperature in Northwest and Central India is likely to drop by 2-4 degrees.

Finance Ministry notifies 12% GST rate on MMF, yarn, fabrics from January 1: corrects duty anomalyThe finance ministry has notified uniform 12 per cent GST rate on manmade fibre (MMF), yarn, fabrics and apparel, thereby addressing the inverted tax structure in the MMF textile value chain.Currently, tax rate on MMF, MMF yarn and MMF fabrics is 18 per cent, 12 per cent and 5 per cent, respectively.The taxation of inputs at higher rates than finished products created build up of credits and cascading costs. It further led to accumulation of taxes at various stages of the MMF value chain and blockage of crucial working capital for the industry.The GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state finance ministers, had in its previous meeting on September 17 decided that the inverted duty anomalies in the textile sector would be corrected from January 1, 2022.Giving effect to this decision, the Central Board of Indirect Taxes and Customs (CBIC) on November 18 notified 12 per cent GST rate for MMF, MMF yarn and MMF fabrics.Experts said though there is a provision in GST law to claim the unutilised Input Tax Credit (ITC) as a refund, there were other complications and resulted in more compliance burden. The inverted tax structure caused an effective increase in the rate of taxation of the sector.The world textiles trade has been moving towards MMF but India was not able to take advantage of the trend as its MMF segment was throttled by the inverted tax regime, they said, adding the correction in duty anomaly will help the segment grow and emerge as a big job provider.EY Tax Partner Bipin Sapra said the rate changes in the textile industry is the first of the changes promised by the GST Council with an aim to rectify inverted duty structure and bring an efficient tax structure for a given sector.