Rupee rallied against dollar, opened weak by 7 paiseThe rupee opened weak against the dollar today. Today, the rupee opened at a level of Rs 82.32 against the dollar with a weakness of 7 paise. On the other hand, on Friday, the rupee closed at a level of Rs 82.25 against the dollar with a weakness of 32 paise.Today the Sensex opened with a gain of 73 points.Today the stock market opened with a boom. Today, the BSE Sensex opened at a level of 66600.63 points with a gain of about 72.96 points. On the other hand, NSE's Nifty opened at 19770.80 points with a gain of 17.00 points. A total of 2,166 companies opened for trading on BSE today.
Rupee closes flatThe Indian rupee ended little changed on Monday, which will help investors assess the outlook for US monetary policy.Today, the rupee closed at 82.25 against the dollar, while it closed at 82.2475 on Friday.Stock market rises again, Sensex closes up by 367 pointsToday the stock market closed with a boom. Today, where the Sensex closed at a level of 66527.67 points with a gain of about 367.47 points. On the other hand, the Nifty closed at a level of 19753.80 points with a gain of 107.80 points.
Pakistan: Weekly review of cotton, rate stable despite rainKARACHI: Recent rains have affected the cotton business; However, the rate of the commodity remained stable. There were ups and downs in the international cotton market on Wednesday.Renowned agricultural scientist Dr. Tasawur Hussain Malik has said that the solution to Pakistan's economic woes lies in good quality cotton.In the local cotton market, incessant rains in almost all the cotton growing areas of Sindh and Punjab and Baluchistan during the past week kept most of the cotton factories closed and even ginning could not be done properly, resulting in little business. Markets were also closed due to Muharram holidays.According to the reports coming from the cotton producing areas, there has been minor damage to the crop due to rain, but the quality has been affected. There is a possibility of damage to the crop if it rains further. may cause damage; However, the predictions will be made after the rain stops.However, due to the relatively high yield, this will not make much difference. There is a possibility that the crop may be affected by the outbreak of insects after the rains.In Sindh, cotton rates ranged between Rs 17,800 and Rs 17,900 per head, while footy rates ranged between Rs 7,200 and Rs 7,700 per 40 kg.Cotton rates in Punjab ranged between Rs 18,000 and Rs 18,300 per head, while futi rates ranged between Rs 7,000 and Rs 8,500 per 40 kg.Cotton rates in Balochistan ranged between Rs 17,800 and Rs 17,900 per head, while footy rates ranged between Rs 7,200 and Rs 7,800 per 40 kg.The spot rate committee of the Karachi Cotton Association capped the rate at Rs 17,935 per maund.Naseem Usman, President of Karachi Cotton Brokers Forum, has said that the international cotton market is in a bullish trend. The futures trading rate of New York cotton reached a six-month high and closed at 88 US cents. The rise in cotton prices in New York was linked to a fall in the value of the dollar and severe heat and drought in cotton-growing states and regions.Later, the cotton settled at 84.26 US cents due to relatively short supply as per export reports. Cotton prices in India are also showing an uptrend. According to the USDA's weekly export and sales report, 18,700 bales were sold for 2022-23. China topped by purchasing 2700 bales. Vietnam was second with 2,600 bales.About 80,600 bales were sold for the year 2023-24. China topped the list by purchasing 63,300 bales. Mexico was second with 11,500 bales. Bangladesh bought 3,000 bales and stood third. Pakistan bought 2,600 bales and stood at the fourth position.The director of the Pakistan Cotton Standards Institute (PCSI) expressed these views while addressing a gathering of cotton pickers during a training organized by the PCSI here.He said, PCSI is the only institute in the country which undertakes quality-wise grading of cotton and provides technical assistance on cotton classification, grading, selection and fiber testing to farmers and private sector to improve quality of seed cotton as well as lint. does.More than 30 cotton pickers from Punjab and Sindh's agricultural extension departments, Pakistan Cotton Ginners Association (PCGA) and Pakistan Cotton Brokers Association (PCBA) attended the training on 26 July which will continue till 8 August.However, recent monsoon rains in the country's cotton belt have damaged the crop. Ihsanul Haque, President of the Cotton Ginners Forum, has said that there is a fear that this time the country will not be able to achieve the target of cotton production, which was set at more than 10 million bales. He said that this situation will also harm the country's exports.
Rupee opens 3 paise stronger against dollarThe rupee opened strongly against the dollar today. Today, the rupee opened at a level of Rs 82.22 against the dollar with a strength of 3 paise. On the other hand, on Friday, the rupee closed at a level of Rs 82.25 against the dollar with a weakness of 32 paise.
Rupee weakens by 32 paise against dollarThis evening, the rupee closed at a level of 82.25 against the dollar with a weakness of 32 paise.Sensex dropped 106 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 66160.20 points with a fall of 106.62 points.On the other hand, Nifty closed at 19646.00 points with a fall of 13.90 points.
Pakistan: "Minor activity in cotton market ahead of holidays"LAHORE: The local cotton market remained stable on Thursday with low trading volumes due to rains in the cotton belt of Sindh and Punjab.Cotton analyst Naseem Usman told the Business Recorder that the new cotton crop rate in Sindh is between Rs 17,800 and Rs 17,900 per head. The rate of footi in Sindh is between Rs 7,200 to Rs 7,800 per 40 kg. The rate of cotton in Punjab is between Rs 18,200 to Rs 18,300 per head and the rate of foot is between Rs 7,000 to Rs 8,500 per 40 kg.Cotton rates in Balochistan range from Rs 17,800 to Rs 17,900 per head, while footy rates range from Rs 7,200 to Rs 7,800 per 40 kg.About 400 bales of Shahdad Pur, 200 bales of Nawab Shah were sold at Rs.17,800 per head, 600 bales of Gojra at Rs.17,900 per head and 200 bales of Raw Khoo at Rs.18,100 per head.The spot rate remained unchanged at Rs 17,935 per head. Polyester fiber was available at Rs 345 per kg.
Rupee falls 34 paise to open at 82.27 against the US dollarThe Indian rupee opened 34 paise lower against the US dollar Friday on broader strength in the greenback after better-than-expected US gross domestic product. The local currency opened at 82.27 a dollar as compared to the previous close of 81.93.Today the Sensex opened with a fall of 111 points.Today the stock market opened with a fall. Today, the BSE Sensex opened at a level of 66155.56 points with a fall of 111.26 points. On the other hand, the Nifty of NSE opened at a level of 19631.50 points with a fall of 28.40 points. A total of 2,077 companies opened for trading on BSE today.
Rupee strengthened by 7 paise against dollarThe rupee strengthened by 7 paise to close at Rs 81.93 against the dollar this evening. Sensex fell 440 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 66266.82 points with a fall of 440.38 points.On the other hand, the Nifty closed at a level of 19659.90 points with a decline of 118.40 points.
China: Production reduction expectations affect supply Domestic cotton prices hit an annual high.China Cotton Situation Monthly Report (June 2023)In the first half of the year, the domestic market demand gradually recovered, production and supply continued to increase, and the overall economic operation rebounded for the better. In June, affected by factors such as tight supply and expected reduction in new cotton production, domestic cotton prices rose rapidly in the first half of the month, reaching a new high in the middle of the month. On the 16th, China's cotton price index (CCIndex3128B) rose to 17,540 yuan/ton; after that Due to the off-season of the textile market, the inventory of finished products increased, the operating rate of enterprises decreased, and the downward transmission of cotton prices was not smooth, so there was a slight correction. The international cotton price generally fluctuated and went down, rebounded at the end of the month, and the price difference between domestic and foreign cotton continued to expand. The China Cotton Association predicts that the national cotton production in 2022 will be 6.622 million tons, a year-on-year increase of 14.7%; imports will be 1.6 million tons, a year-on-year decrease of 7.4%; cotton consumption and exports will be 7.6 million tons and 30,000 tons respectively; ending inventory It was 8.912 million tons, a year-on-year increase of 7.1%.1. The growth of cotton in Xinjiang is not as good as in previous yearsIn June, cotton began to bud and bloom across the country. Due to the unfavorable weather in the early stage, cotton grew slowly in Xinjiang, and the growth was generally weak, and the development process was significantly later than in previous years. The growth of cotton in the inland area was generally good. Although there was drought in some cotton areas, it had little impact on cotton growth. According to the survey by the China Cotton Association: as of June 30, the national cotton budding rate was 98.3%, which was 0.6 percentage points higher than the same period last year2. The domestic cotton price rose to a new annual highIn the first ten days of June, the domestic macroeconomic environment warmed up and the market expected that the supply of cotton would be tight. The futures and spot market prices continued to rise, and the demand for downstream textiles weakened in the middle and late months of the month. The support was limited, and the downward transmission of cotton prices was unfavorable. The domestic cotton spot price was under pressure. . Cotton companies were more active in sales during the month, but it was the off-season of textiles, downstream demand continued to weaken, and the willingness to replenish warehouses gradually weakened.3. The decline in commercial inventories has slowed downIn June, the textile industry was in the traditional off-season, the operating rate of enterprises dropped slightly, and only moderate purchases were made. Domestic cotton commercial stocks continued to decline month-on-month, and the rate of decline slowed down. As of June 30, the national cotton commercial inventory was 2.8969 million tons, a decrease of 595,900 tons or 17.1% from the previous month, and a decrease of 3.7 percentage points from the previous month; 825,300 tons lower than the same period last year. The transportation volume of cotton out of Xinjiang declined again. In that month, Xinjiang's professional cotton warehouse shipped 381,900 tons out of Xinjiang, a month-on-month decrease of 135,200 tons, or 26.1%, which was higher than 198,000 tons in the same period last year.4. textile demand weakens and finished product inventory increasesIn June , textile downstream orders gradually weakened, cotton yarn prices were weak, spinning profits continued to decline, and even suffered losses. Enterprises continued to limit production and stop production, and the operating rate decreased. The demand for lint was weak, and enterprises purchased cautiously. According to the survey, yarn output decreased by 1.7% month-on-month and was still 7.4% higher than the same period last year; cloth output decreased by 2.8% month-on-month and was 2.4% higher than the same period last year. As of June 30, the cotton industrial inventory of textile enterprises in the library was 822,200 tons, a decrease of 32,200 tons from the end of last month and an increase of 243,100 tons year-on-year.5. Cotton import volume decreasedAccording to data from the General Administration of Customs, my country imported 83,000 tons of cotton in June, a decrease of 23.9% month-on-month and 49% year-on-year. Among the countries of origin, the United States still ranks first, accounting for 60%. In the first half of 2023, my country imported a total of 580,000 tons of cotton, a year-on-year decrease of 49.6%; in the first 10 months of 2022/23, a total of 1.14 million tons of cotton was imported, a year-on-year decrease of 24.2%.6. Relevant departments will organize the sale of part of the central reserve cottonOn July 18, the relevant departments issued an announcement. According to the requirements of relevant state departments, in order to better meet the cotton demand of cotton spinning enterprises, they will organize the sale of some central reserve cotton in the near future. Time: From the end of July 2023, every national statutory working day will be listed for sale; the daily listed sales volume will be arranged according to the market situation; the bottom price of listed sales will be determined according to the market dynamics, and in principle, it will be linked to the spot price of cotton at home and abroad.7. Issuance of sliding tax quotas for cotton importsOn July 20, the National Development and Reform Commission issued an announcement. In order to ensure the needs of textile enterprises for cotton, it was decided after research that the 2023 cotton tariff quotas and preferential tariff rate import quotas (hereinafter referred to as "sliding tax quotas for cotton imports") will be issued in the near future. This time, 750,000 tons of sliding tax quotas for non-state-operated cotton imports will be issued, with no restrictions on trade methods.
Pakistan: Slow business in cotton marketLAHORE: The local cotton market remained stable on Wednesday with trading activity slowing down due to rains in the cotton belt of Sindh and Punjab.Cotton analyst Naseem Usman told the Business Recorder that the rate of new cotton crop in Sindh is between Rs 17,700 and Rs 17,800 per head. The rate of footi in Sindh is between Rs 7,300 to Rs 7,400 per 40 kg.Cotton rates in Punjab range from Rs 18,000 to Rs 20,000 per head and cotton between Rs 7,500 to Rs 8,500 per 40 kg. Cotton rates in Balochistan range from Rs 17,700 to Rs 17,800 per head, while footy rates range from Rs 73,200 to Rs 7,800 per 40 kg.200 bales of Chichavatni and 200 bales of Toba Tek Singh were sold at the rate of Rs.18,100 per head. The spot rate remained unchanged at Rs 17,935 per head. Polyester fiber was available at Rs 345 per kg.
Rupee opens 7 paise higher at 81.93 against the US dollarThe Indian rupee opened 7 paise higher against the US dollar on Thursday tracking gains in Asian peers amid a weak US currency after the US Federal Reserve raised interest rates, which analysts believe to be the last rate hike by the central bank. The local unit opened at 81.93 as compared to the previous close of 82.00.Today Sensex gained 173 points and Nifty gained 57 points.Today the stock market opened with a boom. Today, the BSE Sensex opened at a level of 66880.53 points with a gain of about 173.33 points. On the other hand, the NSE's Nifty opened at a level of 19835.40 points with a gain of 57.10 points. A total of 2,086 companies opened for trading on BSE today.
Rupee weakens by 13 paise against dollarThis evening, the rupee closed at 82.00 against the dollar with a weakness of 13 paise.Sensex up 351 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 66707.20 points with a gain of about 351.49 points.On the other hand, the Nifty closed at the level of 19778.30 points with a gain of 97.70 points.
Pakistan: Firm trend on the cotton marketThe Spot Rate Committee of the Karachi Cotton Association (KCA) on Tuesday include Rs 235 as up country expense in the spot rate and closed it at Rs 17, 935 per maund.The local cotton market remained steady and the trading volume remained low. Cotton Analyst Naseem Usman told Business Recorder that trading activities were limited due to the rains in the cotton-producing areas of Sindh and Punjab.The rate of new cotton crop in Sindh is between Rs 17,700 to Rs 18,000 per maund. The rate of Phutti in Sindh is in between Rs 7,000 to Rs 7,400 per 40 kg. The rate of cotton in Punjab is in between Rs 18,000 to Rs 20,000 per maund and the rate of Phutti is in between Rs 7,000 to Rs 8,300 per 40 kg. The rate of cotton in Balochistan is Rs 17,700 to Rs 17,800 per maund while the rate of Phutti is in between Rs 7,200 to Rs 7,500 per 40 kg.The Spot Rate Committee of the Karachi Cotton Association include Rs 235 as up country expense in the spot rate and closed it at Rs 17, 935 per maund. Polyester Fiber was available at Rs 345 per kg.
Rupee rallied against dollar, opened weak by 2 paiseToday, the rupee opened at a level of Rs 81.88 against the dollar with a weakness of 2 paise. On the other hand, on Tuesday, the rupee closed at a level of Rs 81.86 against the dollar with a weakness of 6 paise.Sensex opened with a gain of 196 pointsToday the stock market opened with a boom. Today, the BSE Sensex opened at a level of 66551.40 points with a gain of about 195.69 points. On the other hand, NSE's Nifty opened at 19730.70 points with a gain of 50.10 points. A total of 1,569 companies opened for trading on BSE today.
Rupee weakens 6 paise against dollarThis evening, the rupee closed at a level of 81.87 against the dollar with a weakness of 6 paise.Sensex fell 29 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 66355.71 points with a fall of 29.07 points.On the other hand, the Nifty closed at the level of 19680.60 points with a gain of 8.30 points.
India's cost advantage challenges Bangladesh's textile and apparel dominanceRecently, Bangladesh's textile and apparel industry is facing a major challenge as India enjoys high cost advantage, posing a potential threat to capture a large share of the global market. Abdullah Mohammad Talha, MD, Noman Terry Towel Mills Limited, has expressed apprehension about the future competitiveness of Bangladesh, given the various factors in favor of India.India benefits from one important factor—the deepening relationship between India and the West. This combination has put Bangladesh in a challenging position, limiting its ability to achieve strong competition and break free from the middle-income trap. Unlike Bangladesh, India has diversified its assets and resources, enabling a multi-pronged approach to economic development.India has an advantage because of its cheap labor force compared to Bangladesh, where labor costs have risen slowly. Currently, Bangladesh's salary structure is comparable to that of India, with garment assistants earning around US$150 per month and operators receiving up to US$180 per month.The cost of electricity contributes significantly to India's cost advantage over Bangladesh, as India receives power from the grid at about 7 cents per kWh, while Bangladesh faces a higher cost of about 12.7 cents per kWh.Abdullah Mohammad Talha urges concrete policies and proactive measures like combating corruption in Bangladesh to maintain the growth and strength of the textile industry. Without action, Bangladesh could lose its dominant position in the global market in the face of India's growing momentum.
Pakistan: Cotton market remains stable with low volumesLAHORE: The local cotton market remained stable on Monday with low trading volume.Cotton analyst Naseem Usman said trading activities were limited due to rains in the cotton-growing regions of Sindh and Punjab.The rate of new cotton crop in Sindh is between Rs 17,500 to Rs 17,600 per head. The rate of footi in Sindh is between Rs 6,000 to Rs 7,500 per 40 kg. The rate of cotton in Punjab is between Rs 18,000 to Rs 18,100 per head and the rate of cotton is between Rs 6,500 to Rs 8,300 per 40 kg. Cotton rates in Balochistan range from Rs 17,500 to Rs 17,600 per head, while footy rates range from Rs 7,000 to Rs 7,300 per 40 kg.The spot rate remained unchanged at Rs 17,700 per head.Polyester fiber was available at Rs 345 per kg.
Rupee opens 11 paise higher at 81.71 against the US dollarThe Indian rupee opened 11 paise higher against the US dollar on Tuesday tracking gains in other Asian currencies and positive risk sentiment. The local currency opened at 81.71 a dollar as compared to the previous close of 81.82.Sensex opened with a gain of 43 pointsToday the stock market opened with a boom. Today, the BSE Sensex opened at a level of 66427.29 points with a gain of about 42.51 points. On the other hand, the NSE's Nifty opened at a level of 19690.60 points with a gain of 18.30 points.
Rupee strengthened by 13 paise against dollarThe rupee strengthened by 13 paise to close at Rs 81.82 against the dollar this evening.Sensex fell 299 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 66,385 points with a fall of about 299 points.At the same time, Nifty closed at 19,672 points with a decline of 72 points.
"Estimation of possible shortfall in cotton sowing"In the country, cotton cultivation in North India is stable this year. But in other places in the country it seems that cultivation will reduce. In the last season, cotton was cultivated in 129 lakh hectares in the country. It is also estimated that this year this farming can be done up to 126.50 lakh hectares.Last year or in 2022-23, cotton was cultivated in 42 lakh hectares in Maharashtra.By the end of July 18 last year, cotton crop was planted in 38 lakh 78 thousand hectares in the state. Till July 18 this year, cotton has been sown in 38 lakh 33 thousand hectares in the state.It is being seen that after a slight reduction in this, farming will be limited to 40 lakh hectares. Tree plantation figures keep coming. But the era of farming is over in Maharashtra and other areas. Sowing of dryland cotton has been done in the state till July 15.In Telangana also, till the middle of July, planting has been done. 95% of cotton area in Telangana, Maharashtra, Karnataka is dry land. Irrigation is available only in five percent of the area. Late rains in Maharashtra have affected agriculture.Most of the cotton cultivation in the state is done in Jalgaon district. This year, cotton cultivation was expected in five and a half lakh hectares in the district. But till July 15, this cultivation has been done in four lakh 45 thousand hectares. There are also indications that this year the planting will be less.In North India, in Punjab, Haryana, Rajasthan, cultivation of cotton in maximum area has been completed in April itself. There has not been much decline in agriculture. There 95 percent area under cotton is under irrigation. There the cotton crop has become three months old.It can be redeemed in the next few days. But the rains in the eastern part of there have affected the weather. About 55 per cent of the area under cotton in Gujarat and 50 per cent in Madhya Pradesh are under irrigation.In the country, cotton cultivation in North India is stable this year. But in other places in the country it seems that cultivation will reduce. In the last season, cotton was cultivated in 129 lakh hectares in the country. It is also estimated that this year this farming can be done up to 126.50 lakh hectares.In this, the cotton crop in North India has been hit by excessive rains. 40 to 45 percent damage to cotton crop in Punjab, Haryana. Last year or in 2022-23, cotton was cultivated in 42 lakh hectares in Maharashtra.By the end of July 18 last year, cotton crop was planted in 38 lakh 78 thousand hectares in the state. Till July 18 this year, cotton has been sown in 38 lakh 33 thousand hectares in the state.It is being seen that after a slight reduction in this, farming will be limited to 40 lakh hectares. Tree plantation figures keep coming. But the era of farming is over in Maharashtra and other areas. Sowing of dryland cotton has been done in the state till July 15.In Telangana also, till the middle of July, planting has been done. 95% of cotton area in Telangana, Maharashtra, Karnataka is dry land. Irrigation is available only in five percent of the area. Late rains in Maharashtra have affected agriculture.Most of the cotton cultivation in the state is done in Jalgaon district. This year, cotton cultivation was expected in five and a half lakh hectares in the district. But till July 15, this cultivation has been done in four lakh 45 thousand hectares. There are also indications that this year the planting will be less.In North India, in Punjab, Haryana, Rajasthan, cultivation of cotton in maximum area has been completed in April itself. There has not been much decline in agriculture. There 95 percent area under cotton is under irrigation. There the cotton crop has become three months old.It can be redeemed in the next few days. But the rains in the eastern part of there have affected the weather. About 55 per cent of the area under cotton in Gujarat and 50 per cent in Madhya Pradesh are under irrigation.
| title | Created At | Action |
|---|---|---|
| Rupee rallied against dollar, opened weak by 7 paise | 01-08-2023 09:34:49 | view |
| Rupee closes flat | 31-07-2023 16:53:27 | view |
| Pakistan: Weekly review of cotton, rate stable despite rain | 31-07-2023 11:18:59 | view |
| Rupee opens 3 paise stronger against dollar. | 31-07-2023 09:38:57 | view |
| Rupee weakens by 32 paise against dollar | 28-07-2023 16:13:27 | view |
| Pakistan: "Minor activity in cotton market ahead of holidays" | 28-07-2023 10:45:43 | view |
| Rupee falls 34 paise to open at 82.27 against the US dollar | 28-07-2023 09:37:45 | view |
| Rupee strengthened by 7 paise against dollar... | 27-07-2023 16:11:33 | view |
| China: Production reduction expectations affect supply Domestic cotton prices hit an annual high. | 27-07-2023 12:25:36 | view |
| Pakistan: Slow business in cotton market. | 27-07-2023 10:48:08 | view |
| Rupee opens 7 paise higher at 81.93 against the US dollar | 27-07-2023 09:36:14 | view |
| Rupee weakens by 13 paise against dollar... | 26-07-2023 16:33:23 | view |
| Pakistan: Firm trend on the cotton market | 26-07-2023 10:42:44 | view |
| Rupee rallied against dollar, opened weak by 2 paise | 26-07-2023 09:39:30 | view |
| Rupee weakens 6 paise against dollar | 25-07-2023 16:20:52 | view |
| India's cost advantage challenges Bangladesh's textile and apparel dominance | 25-07-2023 13:05:38 | view |
| Pakistan: Cotton market remains stable with low volumes | 25-07-2023 10:49:21 | view |
| Rupee opens 11 paise higher at 81.71 against the US dollar | 25-07-2023 09:34:51 | view |
| Rupee strengthened by 13 paise against dollar... | 24-07-2023 16:38:39 | view |
| "Estimation of possible shortfall in cotton sowing" | 24-07-2023 11:52:11 | view |
