Pakistan: Weekly Cotton Review: Rate hiked by Rs 600 per headKARACHI: Dollar strength, limited supply of cotton, rally in international cotton affected domestic cotton prices. The All Pakistan Textile Mills Association (APTMA) in a letter to the Prime Minister said that the problems of the textile sector remain unresolved and economic recovery is not possible without resumption of exports.Khurram Mukhtar, patron chief of the Pakistan Textile Exporters Association, said the government should announce special rates for electricity and gas for the export-oriented industry. A team of Aptma experts is actively working to rehabilitate the cotton. Cotton production expected to cross one crore bales.The overall trend in the domestic cotton market was positive after the volatility in cotton prices during the last week. Weavers are interested in buying cotton, while ginners are also interested in selling cotton.Due to the increase of dollar and the boom in the international cotton market, the price of cotton increased by about 600 to 800 rupees per head. The recent rains may affect the quality of cotton.On the other hand, the government's campaign is also going on to buy Futi at Rs.8500 per 40 kg, although in some areas of Punjab, the price of 40 kg is being told as Rs.8500 to Rs.8600.APTMA sources said that in a letter sent to Prime Minister Shehbaz Sharif, APTMA claimed that the country's exports could increase by $10 billion after resolving issues in the textile sector. There is a serious crisis in the textile sector due to the international recession and a sharp fall in the rate of cotton yarn.The Pakistan Cotton Ginners Association has for the first time released the cotton production figures in the country till July 15. Till this period, the production of cotton in the country has reached eight lakh fifty eight thousand bales, which is said to be encouraging. In view of this, experts believe that if the weather conditions are favourable, the production of cotton is expected to be around one crore bales.The rate of cotton in Sindh is between Rs 17,700 to Rs 17,800 per head. The rate of foot is 7700 to 8000 rupees per 40 kg.The rate of cotton in Punjab is Rs 18,200 to Rs 18,500 per head, while the rate of foot is Rs 7,500 to Rs 8,600 per 40 kg. Cotton rates in Balochistan range from Rs 17,700 to Rs 17,800 per head and cotton between Rs 7,600 to Rs 8,000 per 40 kg.The rates of khal, cottonseed and oil also increased.The spot rate committee of the Karachi Cotton Association increased the spot rate by Rs 7,00 per head and closed it at Rs 17,700 per head.Naseem Usman, president of the Karachi Cotton Brokers Forum, said that the overall increase in international cotton prices continued. The futures trading rate of New York cotton increased to 84.48 percent. The trend of increase in the rate of cotton was seen in India.According to the USDA's weekly production and sales report, 67,100 bales were sold for the year 2022-23. Pakistan bought 3800 bales and ranked fourth.86,100 bales were sold in the year 2023-24.China topped the list by purchasing 49,200 bales. Pakistan bought 17,900 bales and stood second. Vietnam bought 8,400 bales and ranked third.According to APTMA, the consistent year-on-year decline in monthly exports throughout the financial year is a matter of concern. 50% of the existing production capacity is currently non-functional.Sheikh Khurram Mukhtar, patron chief of the Pakistan Textile Exporters Association, has said that special rates for electricity and gas should be maintained for the export sector to compete with other countries. Our demand is justified as we are not asking for concessions, but for electricity and gas at tariff rates without adding additional cost.He further said that the government will have to move forward with a concrete plan to deal with the significant reduction in industrial and economic growth. Referring to the past, he said that the textile export volume in the textile sector increased by 55% to $19.5 billion from 2020 to 2022 due to government protection.Meanwhile, APTMA's team of cotton experts is actively engaged in providing crop advisory services to the cotton growers in the core divisions of Multan, Bahawalpur and Rahim Yar Khan. The main objective is to increase the yield per acre and help the farmers to get better quality of cotton through expert guidance and recommendations.The APTMA field team also provides valuable crop advisory services to cotton growers to effectively address deficiencies, focusing on crop-wise and soil-wise nutrient recommendations.To deal with the potential threats on cotton crops, the field team conducts regular pest scouting in major cotton growing areas of Punjab. By identifying pests and monitoring their populations, the team can quickly respond to any pest outbreak while minimizing potential damage. On-site recommendations are provided based on specific pest problems, providing farmers with effective and sustainable pest management solutions.The APTMA field team also advises growers on essential selection and storage practices to ensure that the quality of the cotton is maintained. proper selection techniques to minimizeFiber damage is demonstrated, and storage guidelines are shared to prevent damage and contamination during storage.
Rupee opens 6 paise lower at 82.01 against the US dollarThe Indian rupee opened 6 paise lower against the US dollar on Friday following weakness in Asian peers. The local currency opened at 82.01 as compared to the previous close of 81.95.Sensex slips 48 pts, Nifty at 19,719Domestic equities opened nearly flat in negative on Monday tracking dull global cues. BSE benchmark Sensex opened 45.40 points, or 0.07 per cent lower at 66,638.86, while broader NSE Nifty50 slipped 19.30 points, or 0.1 per cent to open at 19,725.70.
Pakistan: Strong trend in cotton market.The Spot Rate Committee of the Karachi Cotton Association (KCA) on Friday increased the spot rate by Rs 200 per maund and closed it at Rs 17,700 per maund.The local cotton market remained firm and the trading volume remained low.Cotton Analyst Naseem Usman told Business Recorder that the rate of new crop of cotton in Sindh is in between Rs 17,700 to Rs 17,800 per maund. The rate of Phutti in Sindh is in between Rs 7,700 to Rs 8,600 per 40 kg.The rate of cotton in Punjab is in between Rs 18,200 to Rs 18,500 per maund and the rate of Phutti is in between Rs 7,800 to Rs 8,600 per 40 kg. The rate of cotton in Balochistan is Rs 17,600 to Rs 18,000 per maund while the rate of Phutti is in between Rs 7,700 to Rs 8,000 per 40 kg.Around 400 bales of Maqsooda Rind, 200 bales of Nuabad, 200 bales of Jhol is Rs 17,600 per maund, 400 bales of Dolat Pur were sold at Rs 18,000 per maund, 4800 bales of Tando Adam were sold at Rs 17,450 to Rs 17,800 per maund, 200 bales of Kotri were sold at Rs 17,600 per maund, 1600 bales of Mir Pur Khas were sold at Rs 17,600 to Rs 17,700 per maund, 3200 bales of Sanghar were sold at Rs 17,500 to Rs 17,600 per maund, 2200 bales of Shahdad Pur were sold in between Rs 17,500 to Rs 17,700 per maund, 1200 bales of Khanewal were sold at Rs 18,300 to Rs 18,500 per maund, 600 bales of Lodhran were sold at Rs 18,200 to Rs 18,400 per maund, 400 bales of Chichawatni were sold at Rs 18,200 per maund, 400 bales of Vehari were sold at Rs 18,200 per maund, 200 bales of Gojra, 200 bales of Hasil Pur, 200 bales of Rahim Yar Khan were sold at Rs 18,000 per maund and 1,000 bales of Ali Pur were sold at Rs 17,900 per maund.The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 200 per maund and closed it at Rs 17,700 per maund. Polyester Fiber was available at Rs 345 per kg.
Rain deficit adds to cotton farmers’ worry in OdishaThe officer in charge of Cotton Scheme, Suvendu Kar said farmers in the black cotton soil areas have incurred extra expenses in gap fillingDelay and erratic monsoon rain contributing to the long dry phase besides the large coverage of paddy has affected cotton cultivation in the district. Kalahandi is the largest producer of cotton in the state. But deficit rainfall of 66.54% in June and 82.60% till July has left the farmers worried. It was only after July 8, the district witnessed rain.Last year, cotton was grown on 70,780 hectares with a production of 8,50,000 quintals of seed cotton. For the current kharif season, a target to cover cotton in 73,550 ha was fixed.However, the major black cotton growing areas in Bhawanipatna, Kesinga and Golamunda blocks cover 25,400 ha, 17,000 ha and 16,000 ha respectively totalling 58,400 ha. The rest of the areas that grow cotton include Narla, M.Rampur and Lanjigarh blocks having red, red and black and sandy loom soils.Usually, in the major cotton growing pockets in Bhawanipatna, Kesinga and M.Rampur blocks, the water retaining capacity of black cotton soil always benefited the crop. But due to the long dry phase in most of the areas, the farmers are distressed as they had to incur extra expenditure for gap filling. In Narla, M. Rampur and Lanjigarh, so far only 50 per cent area have been covered and now farmers are taking up sowing in many areas.The officer in charge of the Cotton Scheme, Suvendu Kar said farmers in the black cotton soil areas have incurred extra expenses in gap filling. But this season, the plant condition so far seems okay.“Cotton plants in these areas are now in the vegetative stage with five to seven leaves. In other areas, farmers will pick up and the target is likely to be achieved,” Kar said.Inter-cropping in cotton fields has been given a thrust, the officer said, adding, in eight lines of cotton, there will be two rows of arhar which have been targeted to cover 30,000 ha.“Arhar plantation has been cultivated in about 20,000 ha so far. This would protect the cotton from pests and give substantial additional income to farmers,” he said.Coverage areaCurrent kharif season target for cotton 73,550 haBhawanipatna block 25,400 haKesinga block 17,000 haGolamunda block 16,000 haNarla, M.Rampur and Lanjigarh to cover rest of the targetLast year, cotton coverage 70,780 hectare
Rupee strengthened by 3 paise against dollarThe rupee strengthened by 3 paise to close at Rs 81.95 against the dollar this evening.Sensex dropped 887 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 66684.26 points with a fall of 887.64 points.On the other hand, the Nifty closed at the level of 19745.00 points with a fall of 234.20 points.
Spot rate higher amid brisk activityThe Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday increased the spot rate by Rs 200 per maund and closed it at Rs 17,500 per maund.The local cotton market remained bullish and the trading volume remained satisfactory. Cotton Analyst Naseem Usman told Business Recorder that the rate of new crop of cotton in Sindh is in between Rs 17,500 to Rs 17,800 per maund.The rate of Phutti in Sindh is in between Rs 7,500 to Rs 8,200 per 40 kg. The rate of cotton in Punjab is in between Rs 17,800 to Rs 18,000 per maund and the rate of Phutti is in between Rs 7,600 to Rs 8,600 per 40 kg. The rate of cotton in Balochistan is Rs 17,600 to Rs 17,700 per maund while the rate of Phutti is in between Rs 7,600 to Rs 7,900 per 40 kg.Around, 200 bales of Rani Pur were sold at Rs 17,700 per maund, 800 bales of Jhole, 800 bales of Moro were sold in between Rs 17,400 to Rs 17,700 per maund, 800 bales of Nawab Shah were sold at Rs 17,400 to Rs 17,600 per maund, 800 bales of Maqsooda Rind were sold at Rs 17,600 to Rs 17,700 per maund, 800 bales of Khair Pur were sold at Rs 17,500 to Rs 17,700 per maund, 800 bales of Sanghar were sold in between Rs 17,300 to Rs 17,500 per maund, 800 bales of Shahdad Pur were sold at Rs 17,400 to Rs 17,550 per maund, 1600 bales of Tando Adam were sold at Rs 17,400 to Rs 17,600 per maund, 600 bales of Mir Pur Khas were sold at Rs 17,475 per maund, 600 bales of Lodhran, 800 bales of Khanewal were sold in between Rs 17,900 to Rs 18,000 per maund, 400 bales of Hasil Pur, 800 bales of Vehari were sold at Rs 17,800 to Rs 18,000 per maund, 400 bales of Chichawatni were sold at Rs 17,900 per maund, 400 bales of Chowk Matila were sold at Rs 18,000 per maund, 600 bales of Ahmed Pur East, 400 bales of Burewala were sold at Rs 17,900 per maund, 400 bales of Peer Mahal were sold at Rs 17,800 to Rs 17,900 per maund, 200 bales of Khair Pur Tamiwali were sold at Rs 17,900 per maund, 1400 bales of Layyah were sold at Rs 17,800 to Rs 17,900 per maund, 1000 bales of Rajan Pur, 800 bales of Fazil Pur were sold at Rs 17,800 per maund, 800 bales of Tounsa Shareef were sold at Rs 17,900 per maund, 200 bales of Faqeer Wali were sold at Rs 17,900 per maund, 200 bales of Jhang were sold at Rs 17,800 per maund and 200 bales of Mian Channu were sold at Rs 17,950 per maund.The Spot Rate Committee of the Karachi Cotton Association increased the spot rate by Rs 200 per maund and closed it at Rs 17,500 per maund. Polyester Fiber was available at Rs 345 per kg.
Rupee falls 3 paise to open at 82.01 against the US dollarThe Indian rupee opened 3 paise lower against the US dollar on Friday amid broader strength in the greenback. The local currency opened at 82.01 a dollar as compared to the previous close of 81.98.ऑल टाइम हाई से फिसला सेंसेक्स 476 अंक टूटकर खुलाआज शेयर मार्किट गिरावट के साथ खुला। आज बीएसई का सेंसेक्स करीब 476.16 अंक की गिरावट के साथ 67095.74 अंक के स्तर पर खुला। वहीं एनएसई का निफ्टी 123.90 अंक की गिरावट के साथ 19855.30 अंक के स्तर पर खुला। आज बीएसई में शुरुआत में कुल 2,438 कंपनियों में ट्रेडिंग शुरू हुई।
Rupee strengthened by 11 paise against dollarThe rupee strengthened by 11 paise to close at Rs 81.98 against the dollar this evening.Sensex up 474 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 67571.90 points with a gain of about 474.46 points.On the other hand, Nifty closed at 19979.20 points with a gain of 146.00 points.
Tamil Nadu Chief Minister writes to PM Modi regarding the spurt in cotton prices; Urges to withdraw import duty for relief to MSMEsEase of doing business for MSMEs: Tamil Nadu Chief Minister MK Stalin on Wednesday wrote to Prime Minister Narendra Modi, drawing his attention to the 'sharp' rise in cotton prices and also to roll back import duty to provide relief to them. the requested. According to a PTI report, MSME. Stalin said high cotton prices, increase in operational costs including bank interest rates and poor demand have affected the sector."The spinning sector with 1,500 mills and around 15,000 employees was one of the important engines of Tamil Nadu's industrial economy," Stalin said.According to the Chief Minister of Tamil Nadu, the spinning sector played a significant role in Tamil Nadu's industrial economy, with 1,500 mills and a workforce of approximately 1.5 million employees.He said the sector is in "such grave trouble that the spinning mill association has announced to stop production from July 15, 2023." The minister said repayment of loans provided under the Emergency Credit Line Guarantee Scheme (ECLGS) to MSMEs has begun, "which has become an additional burden on the spinning mills and increased the cost of production."Another factor that set India apart from international competitors was the 11 per cent import duty on cotton, reported PTI.Stalin also recalled the earlier request for increasing the cash credit limit of spinning mills from the existing 3 months to 8 months for buying cotton as well as reducing the margin money demanded by banks from 25 per cent to 10 per cent. percentage of the purchase price.“I request the Central Government to provide financial assistance under ECLGS to MSMEs in textile sector by extending the moratorium by one more year. Existing loans can be restructured under ECLGS, converting them into six-year term loans, and new loans can be provided under ECLGS, reducing the regular banking interest rate,” he PM Modi. said, as reported by PTI.Stalin appealed to the government to consider temporarily banning the export of waste cotton to meet the supply crunch faced by open-end spinners who fall under the category of micro enterprises.
Pakistan: Mills raise their hands on quality cottonLAHORE: The local cotton market remained firm on Wednesday with satisfactory trading volume. Cotton analyst Naseem Usman said that the rate of new cotton crop in Sindh is between Rs 17,400 to Rs 17,600 per head. The rate of footi in Sindh is between Rs 7,500 to Rs 7,900 per 40 kg.The rate of cotton in Punjab is between Rs 17,800 to Rs 18,000 per head and the rate of cotton is between Rs 7,500 to Rs 8,600 per 40 kg. Cotton rates in Balochistan range from Rs 17,300 to Rs 17,500 per head while footy rates range from Rs 7,500 to Rs 7,700 per 40 kg.For the first time in the country's history, the collective cotton production figures have been released in the month of July instead of September, which is expected to record cotton production in the country this year.A total of 858,000 bales have arrived at ginning factories across the country as of July 15, according to data released by the Pakistan Cotton Ginners Association (PCGA). Of them, 659,134 bales reached Sindh and 198,873 bales reached ginning factories in Punjab.The PCGA report shows that textile mills have purchased 691,731 bales till July 15, 1,000 bales have been exported and 165,276 salable bales are available with factories. Contrary to the previous practice of releasing the first cotton data in September, this year the data has been shared on July 18.Khair Pur sold 600 bales at Rs 17,400 per head, Daur 600 bales at Rs 17,200 to Rs 17,300 per head, Shahdad Pur 1400 bales at Rs 17,200 to Rs 17,400 per head, Nawab Shah 800 bales, Shah Pur Chakar 800 bales at Rs 17 per head Yes. Rs 200 to Rs 17,300 per head, Tando Adam 2200 bales Rs 17,000 to Rs 17,275 per head, Lidharan 800 bales Rs 17,775 to 17,800 per head, Harunabad 1200 bales Rs 17,750 to Rs 17,800 per head, 10 Alipur 0 Bales, 3200 bales of Burewala, 200 bales of Rahim Yar Khan, 200 bales of Bahawalpur, 200 bales of Peer Mahal, 600 bales of Haasilpur, 200 bales of Ahmed Pur Purvi, 200 bales of Faridpur, 200 bales of Jhang Rs.17,700 per head, 600 bales of Toba Tek Singh were sold. Sold at Rs 17,550 per head, Miyan Channu 800 bales at Rs 17,700 to Rs 17,800 per head, Fakir Wali 400 bales at Rs 17,775 per head, Laya 1200 bales at Rs 17,700 to Rs 17,7750 per head were soldThe spot rate remained unchanged at Rs 17,300 per head. Polyester fiber was available at Rs 345 per kg.
Rupee opens 7 paise higher at 82.02 against the US dollarThe Indian rupee opened 7 paise higher against the US dollar on Thursday tracking gains in Asian peers. The local currency opened at 82.02 a dollar as compared to previous close of 82.09.
Rupee weakens by 6 paise against dollarThis evening, the rupee closed at a level of 82.09 against the dollar with a weakness of 6 paise.Sensex rose 302 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 67097.44 points with a gain of about 302.30 points.On the other hand, the Nifty closed at a level of 19833.20 points with a gain of 83.90 points.
China to implement state cotton reserves sales in late July, 2023To meet cotton textile enterprises' demand, China Reserve Cotton Management Co., Ltd announced on Jul 18 that it would organize to sell some reserved cotton from late Jul, 2023. The the daily selling volumes will be arranged according to market situation.The base selling price of reserved cotton is dynamically determined according to the market conditions, and it is generally linked to the Chinese domestic and international spot cotton prices. The calculation is showed below.Formula:Base selling price (cotton type 3128B)=average price of prior week's domestic cotton prices*50%+average price of prior week's international cotton price*50%.1. Domestic cotton price=(China Cotton Index+CNcotton)/2;2. International cotton price=Cotlook A Index (converted to USD per ton)*exchange rate*(1+1%import duty)*(1+9%VAT)3. The exchange rate is the benchmark exchange rate of the foreign currency against the RMB announced by the People's Bank of China, based on the customs taxation method and the third Wednesday of the previous month (if it is on public holiday, the fourth Wednesday is postponed).
"Discussion regarding spinning industries in Tamil Nadu government's special meeting on Friday"The Tamil Nadu Textiles Department has called a meeting with the spinning industries in the state on Friday to discuss various issues being faced by the sector. The meeting took place in the backdrop of production strike by Coimbatore-based MSME units and open end spinning mills in protest against high electricity charges.A letter written by the department to the six spinning unions said the meeting would be chaired by state Finance Minister Thangam Thennarasu and in the presence of the Minister for Handlooms and Textiles. These are the South India Spinners Association; Indian Spinning Mill Owners Association (OSMA); Open-End Spinning Mills Association; Recycle Textile Federation and SIMA – all five are based in Coimbatore and Tamil Nadu Spinning Mills Association is based in Dindigul. The spinning mills in the major production hub of Coimbatore are going through a crisis. The Open-End Spinning Mills Association – a technique for making yarn without using open-end spinning spindles – whose members resorted to a production strike from July 10, while MSME mills in the textile city stopped production and sale of yarn from July 15. Did it Because of the heavy losses they have caused. raw material exportOSMA President G Arulmozhi told BusinessLine that exports of cotton waste, the main raw material of open-end spinning mills, should be restricted through levying export duty and they should be made available to domestic open-end spinning mills. He said that the interest on bank loan should be reduced to 7.5 per cent as the entire textile sector is in big trouble.He said that the main raw material of OE spinning mills is cotton waste, and exports should be restricted by imposing export duty and they should be made available to domestic OE spinning mills.There are 600 open end spinning mills in Tamil Nadu. These mills produce 25 lakh kg of gray cotton yarn from cotton waste and 15 lakh kg of colored yarn from used plastic pet bottle fibre. He said these mills provide employment to about one lakh direct workers and another two lakh indirectly producing goods worth about Rs 27,000 crore. He said that there could be a loss of Rs 30 crore per day due to the production strike.Demand charges During the meeting Tamil Nadu Spinning Mills Association (TASMA) will urge the state government to invoke Section 108 of the Electricity Act 2003, to make HT consumers pay monthly demand charges to the extent of 20 per cent of their sanctioned amount only. Claiming call fee up to the demand or only the demand recorded and not invariably at 90 per cent level. This will help industry to pay exact demand charges to the extent of their recorded demand and help industries to come out of their distress as an immediate measure till normalcy is achieved.“At the meeting, we urge the state government to put in its good offices to pressurize the Center to remove 11 per cent import duty on cotton imports and to restructure the loans of the mills to come out of this unprecedented situation. Advise RBI to issue suitable policy circular.
Pakistan: Prices firm up amid brisk activity in the cotton marketLAHORE: The local cotton market remained stable on Tuesday with satisfactory trading volume.Cotton analyst Naseem Usman said that the rate of new cotton crop in Sindh is between Rs 17,200 to Rs 17,400 per head. The rate of footi in Sindh is between Rs 7,300 to Rs 7,600 per 40 kg.The rate of cotton in Punjab is between Rs 17,600 to Rs 17,700 per head and the rate of cotton is between Rs 7,200 to Rs 8,000 per 40 kg. Cotton rates in Balochistan range from Rs 17,200 to Rs 17,300 per head, while footy rates range from Rs 7,200 to Rs 7,700 per 40 kg.About 8,000 bales of Tando Edam were sold at Rs 17,000 to Rs 17,500 per head, 600 bales of Daur were sold at Rs 17,300 to Rs 17,700 per head, 800 bales of Khadro at Rs 17,300 to Rs 17,500 per head Sold, 32, 00 Shahdad Pur 00 bales sold at Rs 16,800 to 17,500 per head, Sanghar 400 bales at Rs 17,000 to 17,300 per head, Hala 400 bales at Rs 17,400 per head, Nawab Shah 1200 bales sold at Rs 17,200 to 17 Rs.400 per Man, 1600 bales of Mirpur Khas, 1000 bales of Shahpur Chakkar sold at Rs.17,000 to Rs.17,400 per mand, 600 bales of Hyderabad sold at Rs.17,000 to Rs.17,200 per mand, 400 bales were sold. In Yazman Mandi, 400 bales of Ahmad Pur East were sold at Rs 17,200 per maund, 400 bales of Rahim Yar Khan, 400 bales of Khan Pur were sold at Rs 17,800 per maund, 1600 bales of Burewala were sold at Rs 17,650 to Rs 17,700 per maund . Per head, 1200 bales of Chichavatni, 600 bales of Gojra were sold at the rate of Rs.17,700 to Rs.17,800 per head, 1400 bales of Harunabad at Rs.17,700 per head, 1200 bales of Haasilpur at the rate of Rs.17,700 to Rs.17,800 per head. 800 bales of Khanewal were sold at Rs.17,800 to Rs.18,000 per head, 1600 bales of Layya at Rs.17,675 to Rs.17,800 per head, 1600 bales of Lodharan at Rs.17,700 per head, 800 bales of Miyan Channu were sold. 17,700 to Rs 18,000 per head, 600 bales of Mongi Bungalow, 600 bales of Murid Wala at Rs 17,700 per head, 400 bales of Pir Mahal at Rs 17,600 to 18,000 per head, 400 bales of Shujabad were sold. 17,600 per head and 800 bales of Vehari were sold at Rs.17,800 to Rs.18,000 per head.The spot rate remained unchanged at Rs 17,300 per head. Polyester fiber was available at Rs 345 per kg.
Rupee opens 7 paise lower at 82.10 against the US dollarThe Indian rupee opened 7 paise lower against the US dollar on Wednesday amid a firm greenback. The local currency opened at 82.10 a dollar as compared to previous close of 82.03.Sensex again at all time high with a gain of 231 pointsToday again Sensex and Nifty have made all time high in the stock market. This is the fourth consecutive day when the stock opened at an all-time high. Today, the BSE Sensex opened at a level of 67026.28 points with a gain of 231.14 points. On the other hand, NSE's Nifty opened at 19815.30 points with a gain of 66.00 points. A total of 1,606 companies opened for trading on BSE today.
Rupee strengthened by 1 paise against dollarThe rupee strengthened by 1 paise to close at Rs 82.03 against the dollar this evening.Sensex up 205 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 66795.14 points with a gain of about 205.21 points.On the other hand, the Nifty closed at the level of 19749.30 points with a gain of 37.80 points.
Serious crisis facing Maharashtra farmers: cotton houses expecting price hike, but now market committees blowWardha News : Agricultural Produce Market Committees have announced cotton purchase ban. It is not known when this market will start later. The question of the farmers is that where should we sell this home made cotton?Eknath Chowdhary, Wardha: Last year, the price of cotton which reached Rs 14 thousand per quintal, has been lying in the houses of the farmers for eight months in the hope of increase. The rates of 8 thousand have also come down to 7 thousand 200 rupees. While all this is happening, market committees have announced cotton purchase ban from today, Monday. It is not certain when this market will start later. In such a situation, the question has arisen in front of the farmers that what should be done with the cotton kept in the house.Due to the deepening drought crisis on soybean, farmers have increased the sowing of cotton. On an average, cotton was cultivated in 4 thousand 197 hectares in the state. Area under cotton increased in Yavatmal, Amravati, Akola, Buldhana, Washim, Wardha, Chandrapur and Nagpur districts of Vidarbha. Behind this increase was the higher rates received in the previous year. The hope of the farmers that they would get at least ten thousand rupees per quintal turned out to be false. Instead of increasing the prices fell to around Rs.600. To facilitate the season, farmers sold cotton with a fall in this price. Farmers are still storing cotton at home as production costs are becoming difficult. Cotton is safely stored in the fields of many people in the villages. Farmers expect cotton prices to rise in October with the 2014 elections.As soon as the market committee announced to stop cotton procurement, farmers of Vadgaon in Wardha district brought their cotton in trucks to the Selu market on Fridays and Saturdays. Cotton was sold at the price that could be obtained. These farmers have got a price of Rs.7200. Farmer Sunil Parse has accused the government of forgetting the bonus given to the farmers. Farmers cannot sell their goods throughout the year. As an alternative, farmer leader Shailesh Agarwal has written a letter to the Chief Minister and the Deputy Chief Minister, demanding that the government start a guaranteed price buying and selling center which will remain open throughout the year.Cotton was cultivated in six acres. The crop saved from heavy rains yielded 25 quintals of cotton. Cotton was stored in a room so that the price would go up. There was a shortage of money at the time of sowing. Bought seeds and fertilizers on credit of six months as there would be loss on selling cotton. Sowing requirement met. But, the question of the next crop plan has arisen. The rates have not increased yet. Funds are needed for expenses such as spraying, dredging and weeding. The Agricultural Produce Market Committees have announced a ban on the purchase of cotton. It is not known when this market will start later. Tarachand Ghumde, a farmer from Rehki in Selu taluka, has asked where should we sell this cotton at home?The monsoon session of the Vidhansabha is starting today from Monday. In this session, the government with three engines will have to face the questions of the opposition. Till now, Deputy Chief Minister Ajit Pawar, who has spoken on the issues of cotton growers, is now in power, so attention is being paid to what his role will be. Former minister Anil Deshmukh had assured the workers during his visit to Wardha that he would enter the house only after bearing the pain of the cotton farmers. Everyone's eyes are fixed on how aggressive Uddhav Thackeray's Shiv Sena is on the issue of farmers. Farmers have expressed hope that this crisis of cotton should be resolved at least during the session.The monsoon session of the Vidhansabha is starting today from Monday. In this session, the government with three engines will have to face the questions of the opposition. Till now, Deputy Chief Minister Ajit Pawar, who has spoken on the issues of cotton growers, is now in power, so attention is being paid to what his role will be. Former minister Anil Deshmukh had assured the workers during his visit to Wardha that he would enter the house only after bearing the pain of the cotton farmers. Everyone's eyes are fixed on how aggressive Uddhav Thackeray's Shiv Sena is on the issue of farmers. Farmers have expressed hope that this crisis of cotton should be resolved at least during the session.
Pakistan: The spot price in the cotton market increased by Rs 300 per head.LAHORE: The spot rate committee of the Karachi Cotton Association (KCA) on Monday hiked the spot rate by Rs 300 per head and closed it at Rs 17,300 per head.The local cotton market remained stable and the trading volume was satisfactory. Cotton analyst Naseem Usman told the Business Recorder that the new cotton crop rate in Sindh is between Rs 17,200 and Rs 17,400 per head. The rate of footi in Sindh is between Rs 7,300 to Rs 7,600 per 40 kg.The rate of cotton in Punjab is between Rs 17,600 to Rs 17,700 per head and the rate of cotton is between Rs 7,200 to Rs 8,000 per 40 kg. Cotton rates in Balochistan range from Rs 17,200 to Rs 17,300 per head, while footy rates range from Rs 7,200 to Rs 7,700 per 40 kg.Around 7,000 bales of Tando Adam were sold between Rs 17,400 to Rs 17,800 per head, 3,000 bales of Shahdad Pur, 1600 bales of Mir Pur Khas were sold between Rs 17,300 to Rs 17,800 per head, 32,00 bales of Sanghar were sold . 17,300 to Rs 17,600 per head, Hyderabad 400 bales at Rs 17,500 per head, Miyan Channu 200 bales, Haroonabad 1000 bales, Pir Mahal 200 bales and Lodhran 200 bales at Rs 18,000 per head.The spot rate committee of the Karachi Cotton Association increased the spot rate by Rs 300 per head and closed it at Rs 17,300 per head. The rate of polyester fiber decreased by Rs 5 per kg and is available at Rs 345 per kg.
Rupee opens 5 paise higher at 81.99 against the US dollarThe Indian rupee opened 5 paise higher against the US dollar on Tuesday amid broader weakness in the US dollar. The local unit opened at 81.99 a dollar as compared to previous close of 82.04.Nifty-50 crosses 19800 after opening at record high, Sensex gains 250 ptsContinuing the current record-breaking rally, NSE Nifty 50 and BSE Sensex opened at fresh highs. Nifty 50 opened at 19,787.50, up by 0.38% while Sensex gained 250 points to open at 66,828.96.
| title | Created At | Action |
|---|---|---|
| Pakistan: Weekly Cotton Review: Rate hiked by Rs 600 per head | 24-07-2023 10:59:34 | view |
| Rupee opens 6 paise lower at 82.01 against the US dollar | 24-07-2023 09:38:09 | view |
| Pakistan: Strong trend in cotton market update | 22-07-2023 09:07:18 | view |
| Rain deficit adds to cotton farmers’ worry in Odisha | 21-07-2023 18:21:49 | view |
| Rupee strengthened by 3 paise against dollar... | 21-07-2023 16:10:51 | view |
| Spot rate higher amid brisk activity | 21-07-2023 11:16:35 | view |
| Rupee falls 3 paise to open at 82.01 against the US dollar | 21-07-2023 09:38:30 | view |
| Rupee strengthened by 11 paise against dollar... | 20-07-2023 16:12:54 | view |
| Tamil Nadu Chief Minister writes to PM Modi regarding the spurt in cotton prices; Urges to withdraw import duty for relief to MSMEs | 20-07-2023 11:20:35 | view |
| Pakistan: Mills raise their hands on quality cotton | 20-07-2023 10:59:56 | view |
| Rupee opens 7 paise higher at 82.02 against the US dollar | 20-07-2023 09:34:43 | view |
| Rupee weakens by 6 paise against dollar... | 19-07-2023 16:34:49 | view |
| China to implement state cotton reserves sales in late July, 2023 | 19-07-2023 12:42:07 | view |
| "Discussion regarding spinning industries in Tamil Nadu government's special meeting on Friday" | 19-07-2023 11:52:43 | view |
| Pakistan: Prices firm up amid brisk activity in cotton market | 19-07-2023 10:47:59 | view |
| Rupee opens 7 paise lower at 82.10 against the US dollar | 19-07-2023 09:39:22 | view |
| Rupee strengthened by 1 paise against dollar.. | 18-07-2023 16:22:58 | view |
| Serious crisis facing Maharashtra farmers: cotton houses expecting price hike, but now market committees blow | 18-07-2023 11:42:48 | view |
| Pakistan: The spot price in the cotton market increased by Rs 300 per head. | 18-07-2023 10:43:11 | view |
| Rupee opens 5 paise higher at 81.99 against the US dollar | 18-07-2023 09:41:07 | view |
