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Punjab: Cotton crop relief talks inconclusiveWith the state government not ready to enhance compensation from Rs 12,000 per acre for cotton crop damaged in a recent pink bollworm infestation and farm organisation BKU (Ekta Ugrahan) adamant on its demand for Rs 60,000 per acre, talks between the state government and farmers remained inconclusive on Wednesday.As per sources, the state government has prepared a provisional proposal of Rs 478 crore as compensation, but the acreage has not been calculated fully yet. As per state policy, there are three categories for determining loss: 26% to 32%, 33% to 75%, and 76% to 100%. The compensation for a loss from 76% to 100 % is Rs 12,000 per acre. By protocol, the state government and state disaster response force (SDRF) share the burden of compensation. The bollworm attack in Bathinda and Mansa districts has caused considerable loss to the cotton crop, while it is much less in Sangrur. Cotton has been sown on 3.03 lakh hectares in Punjab this year, of which over 50% has been sown in Bathinda and Mansa. BKU (Ekta Ugrahan) activists have been protesting near the residence of Punjab finance minister Manpreet Singh Badal since October 5 to demand compensation.BKU (Ekta Ugrahan) state secretary Shingara Singh Mann said they had already told officials before the meeting that compensation of Rs 12,000 per acre was not acceptable. “Authorities had assured us that officials in the meeting will have the power to enhance compensation, but they did not agree. Now our protest at the residence of finance minister will continue,” he said.Chief minister’s principal secretary Hussan Lal said farmers had calculated all details incurred in preparing crop which included lease money, seeds, pesticides and labour and they prepared input cost at Rs 60,000, but the state policy was of compensating with Rs 12,000 per acre.

India to see record cotton consumption & strong exports in 2021-22India’s 2021-22 cotton consumption is forecast at a record 25.5 million bales and exports are projected at the second-highest level in 8 years at 5.8 million. This level of total use is forecast to lower ending stocks to 12.4 million bales, down nearly 4 million compared with the record level two years prior, according to US Department of Agriculture (USDA).“A robust recovery from the COVID-19 pandemic and stronger domestic consumption and exports of cotton yarn, fabric, and products are projected to support a significant downfall in stocks,” the Foreign Agricultural Service of the USDA said in its latest monthly report on ‘Cotton: World Markets and Trade’.Cotton stock levels in India nearly doubled to a record two years ago primarily due to two factors. First, production soared 3.0 million bales while consumption fell over 4.0 million. Second, India’s seed cotton prices fell below the Minimum Support Price (MSP), which drove record state purchases and storage of cotton lint in cotton year (CY) 2020 by the Cotton Corporation of India (CCI).However, due to record sales the next season, i.e. in 2020-21, CCI’s record stock levels quickly fell. Mills and exporters were eager buyers, with 2020-21 domestic consumption rising 4.0 million bales and exports at their highest in seven years at 6.2 million, the USDA report said.India’s projected record consumption in 2021-22 is driven by the expected strong gross domestic product (GDP) growth as well as rising textile exports. The International Monetary Fund’s October Update projected India’s GDP growth at 9.5 per cent in 2021 and 8.5 per cent in 2022, which is expected to support domestic consumption of cotton textiles and garments.Further, the world GDP growth projections of 5.9 per cent in 2021 and 4.9 per cent in 2022 are expected to support exports of cotton lint, yarn, fabric, garments, and home furnishings.In 2021-22 season, CCI is not expected to purchase a significant quantity of domestic cotton, due to spot prices exceeding the MSP procurement price (₹5,762 per 100 kg of seed cotton). “Fewer government purchases and less storage coupled with the second-highest level of total offtake (consumption plus exports) are expected to prevent stocks from ballooning back to historically high levels,” the report concluded.Meanwhile, USDA as raised the 2021-22 outlook for global cotton production with larger crops in Pakistan and Turkey more than offsetting lower crops in the United States and India. Use is lowered with consumption falling in China and Vietnam, more than offsetting higher consumption in Pakistan and Turkey. Restrictions on China’s electricity use and COVID-19 restrictions in Vietnam (August through September) result in lower projections for consumption. Global trade is down on lower imports for Pakistan and Vietnam more than offsetting greater China demand. Exports are lowered for India and Brazil, with the former having significantly lower supplies compared with last month.For the US, 2021-22 production is lowered 0.5 million bales to 18.0 million. Exports and use are unchanged, with ending stocks down to 3.2 million bales. The US season-average farm price is raised 6 cents to 90 cents per pound.

Rupee opens 9 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 9 paise at Rs 75.27 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 75.36 with a strength of 15 paise against the dollar.Sensex starts sharply, rises 328 points to open at record levelToday the stock market opened with great momentum. Today the BSE Sensex rose by about 328.34 points to open at the level of 61065.39 points. On the other hand, the Nifty of NSE opened with a gain of 103.90 points at the level of 18265.70 points.

*Cotton market remains bearish**The local cotton market on Wednesday remained bearish and trading volume remained satisfactory.**The rate of cotton in Sindh is in between Rs 11,500 to Rs 14,500 per maund and the rate of cotton in Punjab is in between Rs 14,300 to Rs 14,700 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 5500 to Rs 6300 per 40 Kg. The rate of Banola in Sindh is in between Rs 13,550 to Rs 13,900 per maund. The rate of Banola in Punjab is in between Rs 1500 to Rs 2000 per maund. The rate of cotton in Balochistan is in between Rs 13,600- 14,500 per maund. The rate of Phutti in Balochistan is Rs 5900- 7100 per maund.**800 bales of Sanghar were sold at Rs 12,000 per maund, 800 bales of Ghotki were sold at Rs 14,500 per maund, 2400 bales of Khair Pur were sold at Rs 14,000 to Rs 14,100 per maund, 1200 bales of Lodhran were sold at Rs 14,400 to Rs 14,825 per maund, 400 bales of Rahim Yar Khan were sold at Rs 14,800 per maund, 1400 bales of Mianwali, 400 bales of Ahmed Pur East were sold at Rs 14,700 per maund, 1200 bales of Faqeer Wali were sold at Rs 14,400 to Rs 14,500 per maund, 600 bales of Fort Abbas were sold at Rs 14,500 per maund, 1000 bales of Haroonabad were sold at Rs 14,300 to Rs 14,400 per maund, 1200 bales of Yazman Mandi were sold at Rs 14,400 per maund and 800 bales of Ali Pur were sold at Rs 14,300 per maund.**The Spot Rate remained unchanged at Rs 14,400 per maund. The Polyester Fiber was available at Rs 225 per Kg.*

All India Weather Forecast for October 14, 2021**Weather systems made across the country*Conditions are becoming favorable for withdrawal of Southwest Monsoon from some more parts of Maharashtra, Telangana and Karnataka by October 14.The Cyclonic Circulation lies over East-central Bay of Bengal and adjoining areas. Under its influence, a low pressure area is likely to develop over the same area soon and move north-westwards towards south Odisha and Andhra Pradesh coast.A Cyclonic Circulation is persisting over East Central Arabian Sea. It extends up to 4.5 km above sea level and is inclined towards south-west with elevation.The East West Trough is now moving from a cyclonic circulation over Middle East Bay of Bengal to a cyclonic circulation over East Central Arabian Sea across South Coastal Andhra Pradesh, South Interior Karnataka and Coastal Karnataka.A Cyclonic Circulation lies over Central Pakistan and adjoining areas.*Weather movement across the country during the last 24 hours*During the last 24 hours, the Southwest Monsoon is expected to completely dissipate by October 14.Light to moderate rain is very likely at isolated places over Andaman and Nicobar Islands, parts of Coastal Karnataka, Kerala and Tamil Nadu, Lakshadweep and South Interior Karnataka.Light to moderate rain is possible over Gangetic West Bengal, parts of Northeast India, Coastal Odisha, Coastal Andhra Pradesh and parts of Konkan and Goa.*Possible weather activity during next 24 hours*During the next 24 hours, moderate to heavy rains are very likely over Kerala and Andaman and Nicobar Islands.Light to moderate rain with isolated heavy rain is likely over Tamil Nadu, Coastal Karnataka and South Interior Karnataka.Moderate rain with one or two places may occur over Manipur, Mizoram, Tripura, Gangetic West Bengal, Coastal Odisha, Lakshadweep, Konkan and Goa and Coastal Andhra Pradesh.Light rain is possible in isolated parts of Madhya Maharashtra, South Gujarat and rest of Northeast India and Madhya Pradesh.

Today evening, the rupee strengthened by 15 paise to close at Rs 75.36 against the dollar.Today the stock market closed sharply. Today, where the Sensex closed at the level of 60737.05 points with a gain of about 452.74 points. On the other hand, Nifty closed at 18161.80 with a gain of 169.80 points. All time high closing level of Sensex and Nifty.   

Punjab reels under power cutsThe persisting coal crisis forced Punjab to continue with power cuts, 3-9 hours in a day, for the fourth day in a row, on Tuesday, while Haryana, in contrast, claimed to have enough stocks to run its power plants. In Andhra Pradesh, directions to implement power cuts from Saturday led to a rush among people to buy inverters as traders jacked up its prices by nearly 30%.In Rajasthan, chief minister Ashok Gehlot said it is the Centre’s responsibility to help states in the matter.In Punjab, as industry continued to suffer due to unscheduled power cuts, the coal stocks in the state remained critically low.The Nabha Power Limited, Rajpura, plant has 2.3 days coal stock, Talwandi Sabo Power Limited in Mansa district’s Banawala village has stock of 1.7 days and GVK 1.3 days.while the state-run power plant in Ropar has 3.2 days stock and the one at Lehra Mohabbat has stock for 2.6 days.

The Southern India Mills Association (SIMA) seeks steps to stabilise cotton pricesThe Southern India Mills Association (SIMA) on Tuesday appealed to Prime Minister Narendra Modi to introduce an innovative Cotton Procurement and Trading Scheme for Cotton Corporation of India for price stability. It can be done by providing government funding to procure 10 to 15 per cent of the cotton that arrive in the market during the season and by creating a strategic stock for price stability, selling cotton only to actual users in a staggered manner till the end of the season and maintaining some buffer stock for the next season, SIMA Chairman Ravi Sam said in a statement here.Cotton being the engine of growth for the Indian textiles and clothing industry owing to the advantage of home grown cotton for several decades at a competitive price, which enabled the industry to become the second-largest employment provider in the nation providing jobs to over 105 million people including 6.5 million farmers, rural masses and women folks across the country, he said.However, the industry has been facing challenges very often during the last ten years due to high volatility in cotton prices that account 60 per cent of cotton production for the yarn, Sam said.Consequent to removal of cotton from the Essential Commodities Act, multinational cotton traders started dominating the Indian cotton economy, procuring cotton on a large scale during peak season taking advantage of hedging facility and cheaper funds, export cotton at a lower price, create scarcity and speculate the prices during the off season, the SIMA chairman said.Further, he said the CCI also offloads bulk volume with attractive discount including free period up to 120 days to liquidate the stock and facilitate price speculation by constantly increasing the prices, which greatly affects the MSME cotton textile units across the value chain and the exporters find it difficult to meet the export commitments.SIMA sought the Prime Minister's immediate intervention to stabilise cotton prices as they have surged to the peak level in the last 11 cotton seasons especially in the international market.

Cotton Highlights from October WASDE ReportThe 2021/22 U.S. cotton supply and demand estimates show lower production, lower ending stocks, and a higher price compared with last month. Production is lowered 3% to 18.0 million bales as projected yields in Texas are reduced. With domestic mill use and exports unchanged, ending stocks are 500,000 bales lower. At 3.2 million bales, U.S. ending stocks in 2021/22 are projected at 18% of use, compared with 17% in 2020/21. The 2021/22 season-average farm price for upland cotton is forecast at a record-high 90.0 cents per pound – 6 cents higher than last month and nearly 2% above the previous record of 88.3 cents in 2011/12.The global cotton 2021/22 balance sheet shows lower consumption, higher production, and higher ending stocks compared with last month. During the first weeks of October 2021, world cotton prices have averaged over 115 cents per pound – up at least 40% from both year earlier and long-run levels. While world income growth and spending on goods are expected to remain high during 2021/22, projected annual world cotton consumption growth is now 2.9% compared with 3.8% in September. China’s consumption is reduced 1 million bales as, in addition to high prices, lagging energy production there cuts into industrial capacity. Consumption is also lower this month in Vietnam, but higher in Pakistan and Turkey.World production is 700,000 million bales higher, largely due to an increase in Pakistan. Production is also higher in Turkey, but lower in India as well as the United States. World ending stocks in 2021/22 are projected 450,000 bales higher than in September, but 3.2 million bales below 2020/21.

China Reports Progress on U.S. Disputes Before Biden-Xi SummitChina said it set up a group with the U.S. to discuss disputes, ahead of a video summit between President Joe Biden and his Chinese counterpart Xi Jinping planned for later this year.Chinese Vice Foreign Minister Le Yucheng said in an interview with state broadcaster CGTN that the group had already “made some progress,” without specifying details.“Dialogue and cooperation are indispensable and confrontation and conflict will lead us nowhere,” Le said. “We take seriously U.S. recent positive statements on China-U.S. relations,” he added.In recent weeks, Washington and Beijing have been rebuilding communication lines cut off during years of clashes over everything from trade and Taiwan to tech and the origins of the coronavirus under the Trump administration. While China has sought to portray high-level communications with the Biden administration as the restoration of a “strategic dialogue,” the U.S. has disputed comparisons to an earlier process criticized in Washington as ineffective.The thaw came after the U.S. released Huawei Technologies Co. Chief Financial Officer Meng Wanzhou from extradition proceedings in Canada last month -- one of several demands Chinese diplomats handed to visiting American envoys in July as a condition to break the logjam. The Chinese side subsequently freed two Canadians detained on spying charges in the wake of Meng’s December 2018 arrest, although both sides denied any link between the two actions.Since then, top U.S. and Chinese officials have held in-person meetings on the military, trade and security. The video summit would be the first public one-on-one meeting between Biden and Xi, although a date has yet to be set.White House Press Secretary Jen Psaki told reporters Tuesday she had no new information to provide on the summit. “It’s just something that we’re working through and in discussions about at a staff level,” she said.Le said the high-level talks were evidence that China’s “door to dialogue is open” at any time. “In the meantime, the two sides need to work together to build a good atmosphere and create positive conditions for the two presidents to meet,” he added.

*SMART INFO**पाम को हुआ करीब एक महीने में सबसे बड़ा नुकसान**मलेशियाई पाम तेल वायदा मंगलवार को 2% से अधिक गिर गया, लगभग एक महीने में उनकी सबसे तेज इंट्राडे गिरावट, अक्टूबर की शुरुआत में मंदी के रूप में निर्यात ने कड़े आविष्कारों से समर्थन को पछाड़ दिया।**बर्सा मलेशिया डेरिवेटिव्स एक्सचेंज में अक्टूबर डिलीवरी के लिए बेंचमार्क पाम तेल अनुबंध 103 रिंगित घटकर 4,852 रिंगिट ($ 1,165.23) प्रति टन हो गया।**पिछले हफ्ते कीमतों में रिकॉर्ड ऊंचाई पर पहुंचने के बाद व्यापारियों ने भी मुनाफावसूली की, क्योंकि पाम लगातार दूसरे दिन गिर गया।**कार्गो सर्वेक्षक सोसाइटी जेनरल डी सर्विलांस ने कहा कि 1 अक्टूबर से 10 अक्टूबर तक मलेशियाई पाम तेल उत्पादों का निर्यात 9.4% गिरकर 496,696 टन हो गया।**UOB Kay Hian ने एक नोट में कहा कि अक्टूबर और नवंबर में निर्यात पिछले महीने देखी गई वृद्धि को बनाए रखने की संभावना नहीं है क्योंकि प्रमुख खरीदार भारत सर्दियों के मौसम में प्रवेश करता है।**आयातक आमतौर पर सर्दियों के दौरान अन्य खाद्य तेलों की ओर रुख करते हैं क्योंकि पाम तेल कम तापमान पर जम जाता है।**लेकिन कच्चे तेल की कीमतों में हालिया रैली ने पाम और गैस तेल के बीच की कीमतों को कम कर दिया है, जिससे बायोडीजल की मांग को बढ़ावा देने में मदद मिली है, यूओबी के हियान ने कहा।**मलेशिया के पाम ऑयल बोर्ड के आंकड़ों में सोमवार को दिखाया गया है कि सितंबर के अंत में मलेशिया के पाम तेल के शेयरों में उम्मीद से ज्यादा गिरावट आई है, जो पिछले महीने की तुलना में लगभग 7% कम है।**प्लांटेशन रिसर्च के क्षेत्रीय प्रमुख आइवी एनजी ने कहा, "हम अक्टूबर 2021 के अंत तक ताड़ के तेल के स्टॉक को महीने-दर-महीने 1.73 मिलियन टन तक गिरने का अनुमान लगाते हैं, जिसमें उत्पादन 1.5% और महीने-दर-महीने 4% कम होता है।" सीजीएस-सीआईएमबी रिसर्च में, एक नोट में कहा।**एनजी ने कहा कि निकट-अवधि के वैश्विक खाद्य तेल की सूची और उम्मीद है कि मलेशिया का उत्पादन शेष वर्ष के लिए क्षमता से नीचे रहेगा, इस महीने कीमतों को 3,500-4,500 रिंगिट पर स्थिर रखेगा।**डालियान का सबसे सक्रिय सोया तेल अनुबंध 1.2% गिर गया, जबकि इसका पाम तेल अनुबंध 1.2% गिर गया। शिकागो बोर्ड ऑफ ट्रेड में सोया तेल की कीमतें 0.5% नीचे थीं। पाम तेल संबंधित तेलों में कीमतों में उतार-चढ़ाव से प्रभावित होता है क्योंकि वे वैश्विक वनस्पति तेल बाजार में हिस्सेदारी के लिए प्रतिस्पर्धा करते हैं।**Palm posts biggest loss in nearly a month**Malaysian palm oil futures declined more than 2% on Tuesday, their sharpest intraday fall in nearly a month, as a slump in early October exports outweighed support from tightening inventories.**The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange slid 103 ringgit to 4,852 ringgit ($1,165.23) a tonne.**Palm fell for a second straight day as traders also booked profits after prices hit a record high last week.**Exports of Malaysian palm oil products from Oct. 1 to 10 fell 9.4% to 496,696 tonnes compared with the same period in September, cargo surveyor Societe Generale de Surveillance said.**Exports in October and November are unlikely to sustain the surge seen last month as key buyer India enters the winter season, UOB Kay Hian said in a note.**Importers usually switch to other edible oils during winter as palm oil solidifies at lower temperature.**But a recent rally in crude oil prices has narrowed the price spread between palm and gas oil, helping boost biodiesel demand, UOB Kay Hian said.**Malaysia's end-September palm oil stocks fell more than expected, down nearly 7% from the month before, as export demand surged while production stayed flat, Malaysian Palm Oil Board data showed on Monday.**"We project palm oil stocks to fall 0.8% month-on-month to 1.73 million tonnes by end-Oct 2021, with output up 1.5% and exports down 4% month-on-month," Ivy Ng, regional head of plantations research at CGS-CIMB Research, said in a note.**Tight near-term global edible oil inventories and expectations that Malaysia's production would stay below potential for the rest of the year will keep prices firm at 3,500-4,500 ringgit this month, Ng said.**Dalian's most-active soyaoil contract fell 1.2%, while its palm oil contract slipped 1.2%. Soyaoil prices on the Chicago Board of Trade were down 0.5%. Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.*  *Regards**Team Sis**Any query plz call 9111977771**https://wa.me/919111677774*