Recent News

Rupee depreciates against dollar, loses 3 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 3 paise at Rs 73.14 against the dollar. At the same time, on Monday, the rupee closed at Rs 73.11 with a weakness of 9 paise against the dollar.The market has started with a slight uptrend today.At present, the Nifty is seen around 17390 with a gain of 12 points or 0.07 percent. At the same time, the Sensex has slipped into the red mark after opening in the green mark. It is seen at the level of 58,202.41 with a fall of 94 points or 0.16%.

Cotton growers, agri dept on toes as pink bollworm pest spreads tentacles in south PunjabCotton growers in south Punjab are a worried lot these days as pink bollworm infestation has been reported in more areas ahead of the main harvesting period of the kharif crop starting next week.According to the state agriculture department, all 14 blocks of Bathinda and Mansa, the two biggest cotton-producing districts of Punjab, have reported the pest attack. A total of 3.25 lakh hectares is under cotton cultivation in Punjab. Nearly 5% of the area under the crop in Bathinda (96,000 hectares) and Mansa (65,000 hectares) is under the pest attack.Agriculture officials said presently there is no serious threat to cotton production. The maiden picking of the three-picking cycle of cotton is expected to begin after September 15 whereas farmers have started harvesting in the early-sown fields.BT cotton is resistant to American bollworm, but experts say it is susceptible to the pink bollworm as has been seen in Maharashtra, Gujarat and now in Punjab for the second consecutive year.Sources said last year, traces of pink bollworm were found in few pockets of 20 villages in Bathinda and Mansa but in the last few weeks, the pest’s presence is felt in the larger area of the cotton belt.Experts and the agriculture department blame oil mills, cotton ginning units and a section of villagers for ignoring the laid-down protocol to avoid the pest.“Our teams have started holding awareness and field inspection camps and the task in both districts would be completed by Saturday. At present, the economic threshold level of the pest is within permissible limits,” said Singh, who also is in charge of Mansa.Economic threshold level is pest density at which control measures should be applied to prevent increasing pest population.Agriculture development officer Ajaypal Brar said the permissible limit is five adults per cotton ball or flower and the initial inputs suggest in the most area the infestation is not critical.“The next 15-20 days are crucial to containing the infestation. Farmers have been advised for regular inspection of fields and go for spray only if the pest infestation is beyond ETL,” said Brar.Sharanjit Singh, a progressive farmer from Mansa’s Mann Khera village, said cotton growers were hoping for a remunerative season due to high prices being offered by traders but the pest attack in the region is a cause of concern.“Farmers should have completely removed cotton straw, which is used as firewood or consumed to energise brick kilns completely from the fields. Now, the use of additional sprays of pesticides means an avoidable increase in the cost of production,” he added.

PAKISTAN COTTON MARKET UPDATEModerate trading activity on cotton marketThe local market on Monday remained stable and trading volume remained low. The Spot Rate remained unchanged at Rs 13900 per maund. The Polyester Fiber was available at Rs 222 per kg. Cotton Analyst Naseem Usman Business Recorder that the reason behind low trading volume is rains in the cotton growing areas of Sindh and Punjab due which the supply of Phutti was effected.The rate of cotton in Sindh is in between Rs 13500 to Rs 14000 per maund and the rate of cotton in Punjab is in between Rs 13800 to Rs 14100 per maund. The rate of the new crop of Phutti in Sindh was in between Rs 5500 to Rs 6100 per 40 kg. The rate of Phutti in Punjab is in between Rs 5700 to Rs 6200 per 40 kg. The rate of Banola in Sindh is in between Rs 1600 to Rs 1750 per maund. The rate of Banola in Punjab is in between Rs 1700 to Rs 1800 per maund. The rate of cotton in Balochistan is Rs 13700 to Rs 13800 per maund. The rate of Phutti in Balochistan is Rs 6300- 6900 per maund.Market intelligence attributes the variance to a combination of under reporting by ginners and GoP's romance for cotton's glorious past, but that lament has received sufficient attention in this space (and not nearly enough by the government). The net result, however, is that estimates by everyone lose credibility, and add to uncertainty in the market.

All India Weather Forecast for September 7, 2021Weather systems made across the countryThe axis of Monsoon trough is moving towards Anupgarh, Hisar, Meerut, Hardoi, Varanasi, Jamshedpur, Balasore and then east-southeast and moving north-east towards Bay of Bengal.The Low Pressure is persisting over West Central Bay of Bengal and adjoining parts of South Odisha and North Coastal Andhra Pradesh. The Cyclonic Circulation lies over Northwest Rajasthan and adjoining Punjab.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Tamil Nadu, Kerala, Andaman and Nicobar Islands, Coastal Odisha, isolated parts of Rayalaseema, Coastal Andhra Pradesh, parts of Telangana, Karnataka, South Gujarat, parts of Northeast Madhya Pradesh and Jammu and Kashmir Light to moderate rain with heavy rain occurred at a few places. Light to moderate rain occurred over Himachal Pradesh, Uttarakhand, parts of East Rajasthan, Gujarat region, rest of Madhya Pradesh, Chhattisgarh, Interior Odisha, Marathwada, Madhya Maharashtra, parts of Konkan and Goa, West Bengal, South Interior Karnataka and Lakshadweep. Light rain occurred over Delhi and NCR, Uttar Pradesh, Bihar, Jharkhand, Northeast India and Saurashtra and Kutch.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls at isolated places is likely over South Odisha, South Chhattisgarh, Telangana, Maharashtra, Rayalaseema, parts of Kerala, Karnataka, South Madhya Pradesh and East Gujarat. Is. Light to moderate rain is possible over Northeast India, West Bengal, Sikkim, Kerala, Andaman and Nicobar Islands, Lakshadweep, rest of Madhya Pradesh, Uttarakhand, Himachal Pradesh and East Rajasthan.Light rain is likely in Uttar Pradesh, Bihar, Jharkhand, Delhi, Punjab, Haryana, Jammu and Kashmir, Ladakh, Tamil Nadu, Lakshadweep.

The rupee declined by 9 paise to close at Rs 73.11 against the dollar this evening.Record closing of Sensex, closed higher by 167 pointsToday the stock market closed with a record high. Today, where the Sensex closed at a record level of 58296.91 points with a gain of about 166.96 points. On the other hand, the Nifty closed at a record level of 17377.80 with a gain of 54.20 points.

Pakistan cotton production likely to reach 8.46 million bales this season.Pakistan’s Sindh province expects production of 3.5 million bales of cotton this season, Cotton Crop Assessment Committee chairman Syed Fakhar Imam was informed recently. Because of less rainfall, overall cotton production is expected to increase, he was told. Production in Punjab is expected to touch 4.5 million bales, registering an increase of nearly 8.5 per cent from last year. The overall cotton production is expected to reach 8.46 million bales.A meeting of the committee was held on September 1. Imam is the federal minister for national food security and research.Due to a strong attack of mealybug, whitefly and CLCuV, cotton production has been adversely affected, according to an official release.

Rupee depreciates against dollar, loses 1 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 1 paise at Rs 73.02 against the dollar. At the same time, the rupee on Friday closed at Rs 73.03 with a strength of 4 paise against the dollar.Sensex opened at record high with a gain of 282 pointsToday the stock market opened with a record high. Today the BSE Sensex rose by about 282.12 points to open at a record level of 58412.07 points. On the other hand, the Nifty of NSE opened with a gain of 72.40 points at a record level of 17396.00 points.

Textile bodies welcome tn’s move to remove 1% cotton cessChairman of Confederation of Indian Textile Industry T Rajkumar told reporters in Coimbatore on Saturday that the scrapping of cess, which was a long-pending demand, would benefit cotton farmers and the industry across the cotton textile value chain.Textile trade bodies have welcomed the announcement of the Tamil Nadu government on the withdrawal of one per cent cess on purchase of cotton and cotton waste.Chairman of Confederation of Indian Textile Industry T Rajkumar told reporters here on Saturday that the scrapping of cess, which was a long-pending demand, would benefit cotton farmers and the industry across the cotton textile value chain.The Southern India Mills’ Association lauded the decision on the revoking of the tax as it would benefit 200k farmers and help increase cotton production from 500k bales to 2.5 million bales by 2030.This would also encourage farmers to switch over to cotton crop from other cash crops and may benefit 1 million farmers in the long run, the trade body said.The removal of the cess would attract several private cotton traders and the Cotton Corporation of India to open depots in the state and sell the cotton on a daily basis to small spinning mills, the trade bodies said, adding that this would reduce the working capital requirements and also the cost, time and transportation.

All India Weather Forecast for September 6, 2021Weather systems made across the countryThe Monsoon Trough is passing through Bikaner, Gwalior, Patna, Daltonganj and then north-eastwards over Bay of Bengal. A Cyclonic Circulation is persisting over Kutch and adjoining areas. A Cyclonic Circulation is persisting over East Central Bay of Bengal, under whose influence a Low Pressure Area is likely to develop during the next 24 hours. A windswept john is running between 5.8 and 7.6 km above sea level with about 15 degrees of longitude.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Coastal Karnataka, North Interior Karnataka, Konkan & Goa, Madhya Maharashtra, Marathwada, parts of Telangana, Andaman and Nicobar Islands, isolated parts of Coastal Andhra Pradesh, parts of South and East Madhya Pradesh And in 1-2 parts of East Rajasthan, light to moderate rain with isolated heavy rain occurred at a few places. Light to moderate rain occurred over Lakshadweep, Kerala, parts of Tamil Nadu, Gujarat, Gangetic West Bengal, Interior Odisha, Chhattisgarh, parts of Bihar, western parts of Uttar Pradesh, Haryana, Uttarakhand and Himachal Pradesh.Light rain occurred over Northeast India, parts of Delhi NCR, Sib-Himalayan West Bengal, Sikkim, remaining parts of southeast Rajasthan, Rayalaseema and Coastal Andhra Pradesh.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls over Andaman and Nicobar Islands, Coastal Andhra Pradesh, parts of Chhattisgarh, Maharashtra, Coastal Karnataka, South Interior Karnataka, parts of Kerala and parts of Madhya Pradesh and South Odisha There is a possibility of heavy rain at some places. Light to moderate rain very likely over Northeast India, parts of Bihar, parts of Uttar Pradesh, Uttarakhand, Himachal Pradesh, remaining parts of Madhya Pradesh, southeast Rajasthan, Gujarat region, parts of Tamil Nadu, Interior Odisha and Lakshadweep .Light rain is possible over interior parts of Punjab, Haryana, Delhi, Northeast Rajasthan and Tamil Nadu. SiS Commited to update you on all textile related news real time.RegardsTeam SisAny query plz call 9111977771https://wa.me/919111977775

Cotton, bajra and groundnut see big drop in acreage, shows dataAs the kharif sowing season almost comes to an end, the acreage of cotton, bajra and groundnut has lagged the most, compared to the area covered last year. The latest data from the Department of Agriculture shows that area covered under cotton this year was 0.83 million hectares less than in 2020, while that covered under bajra was 0.52 million hectares less and groundnut was 0.22 million hectares less.The total area covered under all crops was more than their normal area, which is the average of the last five years. Meanwhile, the extended breaks in monsoon seems to have pulled down the reservoir levels and unless it rains heavily in September (IMD has predicted September rains to be more than 110 per cent of the Long Period Average, which is 170 millimeters), reservoir levels could be a cause for concern going forward into the rabi sowing season.

All India Weather Forecast for September 4, 2021Countrywide weather systemsA cyclonic circulation is over Saurashtra and Kutch, it will weaken after 24 hours. A trough is extending from the cyclonic circulation over Saurashtra and Kutch to Haryana via Rajasthan.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain at isolated places occurred over Tamil Nadu, Karnataka, parts of Kerala, Andaman & Nicobar Islands, Uttar Pradesh and Sikkim. Light to moderate rain at isolated places over Konkan and parts of Goa, Telangana, Assam, Nagaland, Rajasthan, Himachal Pradesh, Maharashtra and Gujarat One with light rain over Northeast India, Bihar, Andhra Pradesh and Uttar Pradesh Moderate rain occurred at two places. Light rain occurred in Chhattisgarh, Odisha and Madhya Pradesh.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls very likely over parts of Andaman & Nicobar Islands, Sub-Himalayan West Bengal, Andhra Pradesh and Telangana. Vidarbha, Konkan & Goa and Karnataka & Tamil Nadu Light to moderate rain with isolated heavy falls may occur at isolated places. Light to moderate rain is possible over Northeast India, parts of Bihar, Uttar Pradesh, Jharkhand, Chhattisgarh, Madhya Pradesh, Odisha and Uttarakhand. Light rain is possible over East Rajasthan, parts of Gujarat, Interior Karnataka, Kerala, Himachal Pradesh, Gangetic West Bengal and Lakshadweep.