Rupee strengthened by 13 paise against dollarThe rupee strengthened by 13 paise to close at Rs 82.04 against the dollar this evening.Sensex up 529 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 66589.93 points with a gain of about 529.03 points.On the other hand, the Nifty closed at the level of 19711.50 points with a gain of 147.00 points.
Remove 11 per cent import duty imposed on cotton, industry confederation urges Centre.Coimbatore: The Confederation of Indian Textile Industry (CITI) and the Southern India Mills Association (SIMA) have urged the Center to remove the 11% import duty imposed on cotton, resolve QCO (Quality Control Order) issues and make the raw material available internationally. has demanded.Further, they have demanded the state government to limit the maximum tariff for power demand for HT textile industrial units to 20% or recorded demand, whichever is higher.Addressing media persons, T Rajkumar, President, CITI and Ravi Sam, President, SIMA said that the Indian textile and clothing industry provides employment to over 11 crore people, brings in $44 billion in foreign exchange and over Rs 25,000 crore GST revenue is facing an unprecedented financial crisis.“The impact is an 18% decline in total T&C exports, a 50% decline in yarn exports and a 23% decline in cotton textile exports as compared to last year. High volatility in cotton prices and trade speculation has resulted in huge working capital loss in the spinning sector as cotton prices have fallen from Rs 63,000 per candy of 356 kg in April to Rs 56,000 per candy in July. With the current cotton prices, mills are making a loss of Rs 10-20 per kg of yarn,” he said.Other demands include suspension of fixed charges for LT III-B units and exemption from peak hour charges.
Pakistan Weekly Cotton Review: Bullish trend continuesKarachi: The cotton market is in a bullish trend. To keep cotton prices stable, the Trading Corporation of Pakistan (TCP) will buy cotton at a rate fixed by the government. APTMA has demanded the government to fix electricity rates separately for export industries.Separately, the Lahore High Court (LHC) has set aside the textile sector's stay order on energy charges.The local cotton market saw an increase of Rs 400 per head in the price of cotton last week. Textile mills continued to buy cotton, while ginners also continued to sell cotton in large quantities due to a better supply of footy. As a result, the business volume improved significantly.Although the government has asked the ginners to buy cotton from cotton farmers at the rate of Rs 8,500 per 40 kg, but the ginners say that if the government takes cotton and cottonseed from them at this rate, they will intervene to buy from the farmers. Are ready. rate announced by the government.At present, there is positive news regarding cotton production. In the first picking itself, 15 to 20 maunds of flowers are being harvested per acre. Looking at this, it can be said that if the weather conditions are favourable, then the production of cotton will exceed one crore bales.The rate of cotton in Sindh is between Rs 17,200 to Rs 17,400 per head. The rate of footi is between Rs 7,000 to Rs 7,400 per 40 kg. The rate of cotton in Punjab is between Rs 17,600 to Rs 17,800 per head, while the rate of foot is between Rs 7,200 to Rs 8,300 per 40 kg. Cotton rates in Balochistan range from Rs 17,200 to Rs 17,300 per head and cotton between Rs 7,200 to Rs 7,700 per 40 kg. The prices of cottonseed, khal and oil are relatively stable. The spot rate committee of the Karachi Cotton Association kept the rate of cotton unchanged at Rs 17,000 per head.Naseem Usman, president of the Karachi Cotton Brokers Forum, said that the price of cotton remained stable in the international cotton market. According to the USDA's weekly export and sales report for the year 2022-23, 23,100 bales were sold.Bangladesh topped the list by purchasing 18, 200 bales. Vietnam was second with 5,600 bales. Honduras was third with 3,200 bales. Taiwan bought 2,000 bales and ranked fourth. Turkey bought 1,900 bales and ranked fifth. Pakistan bought 6,600 bales and ranked sixth. 51,000 bales were sold for the year 2023-24. China topped the list by purchasing 36,000 bales. Honduras was second with 9,800 bales. Pakistan bought 2,500 bales and stood third.The meeting was also informed that 28 ginning factories are functioning in Multan division, and harvesting of early sown cotton is underway. The secretary directed all the ginning factories to make daily reports of cotton arrivals, stock position and quality of the crop in their factories.DG Agriculture (Pest Alert) Punjab Rana Fakir Ahmed said the overall health of the cotton crop was good in Multan division but whitefly attack was observed in Khanewal, Miyan Channu and Vehari, while thrips attack was observed in Lodhran . However, the attack was still below the economic threshold.With regard to energy tariffs, Pakistan competes with mills in India, Bangladesh and Vietnam for the export of textile products. Now the cost of one unit of electricity in these countries is only 7 to 9 cents.The textile industry has asked the government to allocate a separate power tariff category for the export industry, barring cross-subsidies, stranded costs and increased system losses, to achieve the export target of $50 billion in the next 4 years.Sajid Mehmood said, the action plan to revolutionize the agriculture sector under the leadership of the army and to reform the agriculture sector on modern lines by moving away from the traditional methods of farming is wonderful, which will prove to be an important milestone in the country's economy. Head of Agricultural Technology Transfer Department, Central Cotton Research Institute, Multan said in his statement.The commencement of work on several projects using new agricultural technology will be a very welcome milestone for the development of agriculture and will also increase productivity.According to the report, 44 lakh acres of land has been identified across the country for the implementation of agriculture projects. In this, 13 lakh acres are in Punjab, 13 lakh acres in Sindh, 11 lakh acres in Khyber Pakhtunkhwa, while 7 lakh acres are in Balochistan. While in Punjab eight lakh twenty four thousand seven hundred and twenty eight acres of land has been digitized, on which modern farming is to be done. This will increase the yield of cotton like other agricultural products.
Rupee opens marginally higher at 82.14 against the US dollarThe Indian rupee opened marginally higher against the US dollar on Monday amid a steady greenback. The local currency opened 3 paise higher at 82.14 a dollar as compared to the previous close of 82.17.The stock market is going higher today, there is no new all time highToday the stock market opened with a boom. Today, the BSE Sensex opened at a level of 66087.15 points with a gain of about 26.25 points. On the other hand, the NSE's Nifty opened at a level of 19584.60 points with a gain of 20.10 points.
Rupee weakens by 10 paise against dollarThis evening, the rupee closed at a level of 82.17 against the dollar with a weakness of 10 paise.Sensex up 502 pointsToday the stock market closed with a boom.Today, where the Sensex closed at the level of 66060.90 points with a gain of about 502.01 points.On the other hand, the Nifty closed at a level of 19564.50 points with a gain of 150.70 points.
Spinning mills in Tamil Nadu will stop production and sale of yarn from July 15.A major crisis is brewing in spinning mills of Coimbatore as industry associations have decided to stop production and sale of yarn from July 15 due to heavy losses incurred by them. This was decided at an emergency meeting of MSME Spinning Mills Associations held on Wednesday.For the first time in the last 20 years, export of yarn and textiles have declined by around 28 per cent. Today, cotton price per candy (356 kg) is ₹58,000; price of 40’s yarn is ₹235 per kg and clean cotton cost is ₹194 per kg, says a joint statement issued by S Jagaesh Chandran, Hony Secretary, South India Spinners Association (SISPA) and G Subramaniam, President, India Spinning Mill Owners Association (ISMA), both based in Coimbatore.As per guidelines of South Indian Textile Research Association, the minimum conversion cost of cotton to yarn should be ₹2 per kg. In today’s situation, the conversion cost from cotton to yarn is only ₹1. This means, spinning mills incur a loss of ₹40 per kg. A mill having about 10,000 spindles would produce 2,500 kg of yarn per day, which is incurring a loss of ₹1,00,000 per day.The reason for the crisis is due to 11 per cent import duty on cotton, the price of domestic cotton is 15 per cent higher. India has lost many international orders and is unable to compete with neighbouring countries in the export of yarn, fabric and clothing.Over the past several months, banks’ interest rates have gradually increased from 7.5 per cent to 11 per cent. As a result, the cost of yarn production has increased from ₹5 to ₹6 per kg.Tamil Nadu Generation and Distribution Corporation (TANGEDCO) increased Retail Tariff Petition for Low Tension Consumers (LT & LT-CT) and High Tension Consumers (HT), Multi Year Tariff and tariff increased during peak hours (Time of the Day - TOD), the production cost of spinning mills has gone up by ₹6, the statement said.The Centre has provided short-term loans under the Emergency Credit Line Guarantee Scheme (ECLGS) to revive and rehabilitate the industry. However, entrepreneurs who availed this loan have used it to tide over the crisis and for payment of bank dues, electricity charges, labour wages, ESI and PF. The repayments for the ECLGS loan started and this has become an additional burden on the spinning mills and this also increased the cost of production by ₹5 per kg.There is unrestricted import of yarn and fabrics from countries like China, Vietnam and Bangladesh. Due to this, the entire textile value chain of the country has been greatly affected, the statement said.The two associations appealed to the Centre to immediately withdraw the 11 per cent import duty imposed on cotton and reduce the interest rates of the banks to the previous level of 7.5 per cent. The outstanding short-term loan of ‘Emergency Credit Line Guarantee Scheme (ECLGS) be restructured and provide fresh ECLGS loan as given earlier. Provide a six month holiday period and seven years repayment period at a lower rate of interest.The Centre should extend the term loan by two year moratorium and restructure the existing term loan as given in the past. There should not be any stringent rules by the Reserve Bank of India (RBI) in moratorium for the spinning sector.Further, no subsidy or concession should be encouraged by any State Government to increase the spinning capacity, they said.The Minimum Support Price (MSP) operation has to be extended to Cotton Yarn. The MSP has to be fixed at atleast Rs. 2.25 Paisa per count per kg. From January 1, the associations requested that all types of fabrics manufactured in India should print the precise weight on the fabric.“We request the Government of Tamil Nadu should cancel the amendment immediately,” the statement said.At present, TANGEDCO is charging 90 per cent of Maximum Demand charges or Recorded demand, whichever is higher. Considering the Extra Ordinary situation of the Spinning Industry, the associations requested the State government to direct the TANGEDCO to collect 20 per cent of Maximum Demand Charges or recorded demand.In India, the capacity of spinning mills is already very high. The Centre should immediately formulate a One Country - One policy for the textile industry, the statement said.
Pakistan: Strong trend in cotton marketLAHORE: The local cotton market remained stable on Thursday with satisfactory trading volume.Cotton analyst Naseem Usman said that the rate of new cotton crop in Sindh is between Rs 16,800 to Rs 16,900 per head. The rate of footi in Sindh is between Rs 6,600 to Rs 7,200 per 40 kg.In Punjab, cotton rates range from Rs 17,300 to Rs 17,500 per head and cottonseeds range from Rs 7,200 to Rs 8,000 per 40 kg. Cotton rates in Balochistan range from Rs 16,900 to Rs 17,000 per head, while footy rates range from Rs 6,800 to Rs 7,300 per 40 kg.The federal government has finally decided to intervene in the cotton market and has directed the Trading Corporation of Pakistan (TCP) to buy cotton to stabilize the falling prices and ensure the minimum support price.According to a national daily, Punjab Agriculture Secretary Iftikhar Ali Sahu chaired a meeting on crop management and monitoring and said that TCP will soon start ensuring better compensation for cotton growers and the government will maintain the minimum support price mechanism. will fulfill its commitment.It is to be noted that the government had announced Rs 8,500 per 40 kg support price for cotton in March when cultivation began and the move was appreciated in the farming community and the textile sector, but since then, it has As the minimum support price has failed to ensure. It is now being sold at a minimum of Rs 6,500 per 40 kg.Prices are also falling as this year's cotton crop has produced on a large scale and the target is likely to be met.Representatives of the Pakistan Cotton Ginners Association (PGCA) told the Agriculture Secretary that early cotton harvesting, sown in February, is underway, and production numbers look good so far with nearly 60 factories operating in the province and yarn ginning reaching a record number. Has been factory.Dr. Anjum Ali, Director General, Agricultural Extension, Punjab, echoed the sentiment and said that though there have been some reports of thrips attacks, it has not yet reached the economic threshold level (ETL) and agricultural extension and pest alert teams are active. their efforts to control it.Around 800 bales of Mir Pur Khas were sold between Rs 16,900 to Rs 17,000 per head, 1800 bales of Shahdad Pur were sold between Rs 16,900 to Rs 17,100 per head, 3600 bales of Tando Adam, 1200 bales of Sanghar, 600 bales of Shah 16,800 to 17,000 per head of Pur Chakkar, 600 bales of Hyderabad, 600 bales of Kotri at Rs 16,900 to 17,000 per head, 1400 bales of Nawab Shah were sold at Rs 17,000 to 17,050 per head. 1,000 bales of Chaudagi were sold at Rs.16,950 to Rs.17,000 per head, 400 bales of Jhola at Rs.16,900 per head, 400 bales of Winder at Rs.16,975 to Rs.17,000 per head, 600 bales of Miyan Channu were sold. 200 bales of Sahiwal, 800 bales of Pir Mehal, 600 bales of Chichavatni, 200 bales of Mongi Bangla were sold at the rate of Rs.17,500 per head, 400 bales of Jahanian were sold at the rate of Rs.17,400 per head, 1200 bales of Layya were sold Gone. 17,500 to Rs 17,600 per head, 200 bales of Tounsa, 400 bales of Sadiqabad at Rs 17,500 per head, 1600 bales of Vehari at Rs 17,400 to 17,700 per head, 1200 bales of Burewala were sold at Rs 17,400 per head. 800 bales of Mana, Khanewal were sold at Rs.17,500 to 17,600 per head.The spot rate remained unchanged at Rs 17,000 per head. Polyester fiber was available at Rs 350 per kg.
Rupee opens 13 higher at 81.94 against the US dollarThe Indian rupee extended gains to open 13 paise higher against the US dollar Friday on broader weakness in the greenback and sustained FII inflows into the domestic equities. The local currency opened at 81.94 a dollar as compared to the previous close of 82.07 a dollar.
Rupee strengthened by 17 paise against dollarThe rupee strengthened by 17 paise to close at Rs 82.07 against the dollar this evening.Sensex up 164 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 65558.89 points with a gain of about 164.99 points.On the other hand, the Nifty closed at a level of 19413.80 points with a gain of 29.50 points.
China: China's exports fall the most in three years due to the struggle of the global economyBEIJING: China's exports plunged the most in three years in June, falling a more than expected 12.4% year-on-year, as tensions from the struggling global economy show signs of escalating and Chinese policymakers face mounting pressure. facing. for promotional measures.Customs data on Thursday showed imports also fell more than expected, falling by 6.8%. A Reuters poll of economists had forecast a 9.5% drop in exports and a 4.0% decline in imports.The pace of China's post-pandemic recovery has slowed after rising sharply in the first quarter, with analysts now downgrading their projections for the economy for the rest of the year as factory production slowed due to persistently weak global demand. Is.Lav Daliang, spokesman for the General Administration of Customs, blamed "weak global economic recovery, slowing global trade and investment, and rising unilateralism, protectionism and geopolitics" for the poor export performance in remarks at a press conference in Beijing.Policymakers are now staring at the prospect of slowing growth to just 3% a year in the world's second-largest economy, according to economists' forecasts. This is less than half the normal rates of recent decades and creates a sense of an economy in recession.Chinese Premier Li Keqiang, who took office in March, has talked a good game on implementing policy measures to boost demand and strengthen markets, but few concrete steps have been announced and Investors are getting impatient."Looking ahead, headwinds facing the external sector remain strong, requiring policy support for domestic demand," said Zhou Hao, economist at Guotai Junyan International.South Korean shipments to China, a leading indicator of China's imports, fell 19.0% last month, the smallest decline since October, but the decline in semiconductors and other components used to manufacture electronic goods Demand remains weak.Raw material demand also showed signs of weakness, with copper imports falling 16.4% in June from a year earlier.Chinese factory activity has been shrinking in recent months, while consumer prices edged into deflation in June and producer prices fell at their sharpest pace in more than seven years.After badly missing the 2022 target, the government has set a modest GDP growth target of around 5% for this year.
Pakistan: Cotton market stable with satisfactory trading volumeLAHORE: The local cotton market remained stable on Wednesday with satisfactory trading volume.Cotton analyst Naseem Usman said that the rate of new cotton crop in Sindh is between Rs 16,900 to Rs 17,100 per head. The rate of footi in Sindh is between Rs 6,500 to Rs 7,300 per 40 kg.The rate of cotton in Punjab is between Rs 17,300 to Rs 17,500 per head and the rate of cotton is between Rs 7,200 to Rs 8,200 per 40 kg. The rate of cotton in Balochistan is Rs 17,100 per head while the rate of footy is between Rs 7,000 and Rs 7,300 per 40 kg.About 400 bales of Shahdad Pur were sold at Rs.16,900 to Rs.17,200 per head, 8800 bales of Tando Adam at Rs.16,900 to Rs.17,200 per head, 3800 bales of Sanghar at Rs.16,750 to Rs.17,100 per head, 1400 bales were sold. 600 bales of Mirpur Khas, 600 bales of Hyderabad were sold at Rs.16,800 per head, 200 bales of Qazi Ahmed at Rs.16,875 per head, 200 bales of Kotri at Rs.16,800 per head, 400 bales of Shahpur Chakkar were sold. Rs 16,900 to Rs 17,000 per head, 200 bales of Gup Chani sold at Rs 17,000 per head, 400 bales of Haider Shah sold at Rs 16,900 per head, 200 bales of Nawab Shah sold at Rs 16,800 per head 400 bales were sold at the rate of Rs.17,000 per head of Dalawar Pur, 400 bales of Tando Muhammad Khan at Rs.16,900 per head, 800 bales of Harunabad at Rs.17,400 to Rs.17,500 per head, 600 bales of Miyan Channu at Rs.17,500. Per head, 800 bales of Burewala were sold at Rs.17,400 per head, 800 bales of Khanewal at Rs.17,500 to 17,600 per head, 1000 bales of Chichavatni at Rs.17,400 to 17,500 per head, 1200 bales of Vehari were sold at Rs.17,500 per head. 17,400 to Rs 17,500 per head, 2600 bales of Laiya for Rs 17,300 to Rs 17,500 per head, 400 bales of Haasil Pur at Rs 17,350 per head, 200 bales of Ahmed Pur Purvi at Rs 17,300 per head. 200 bales of Maund, Fazilpur were sold at Rs.17,400 per head, 200 bales of Kaur Lal Esan at Rs.17,400 per head and 200 bales of Multan at Rs.17,350 per head.The spot rate remained unchanged at Rs 17,000 per head. Polyester fiber was available at Rs 350 per kg.
Rupee opens 29 paise higher at 81.95 against the US dollarThe Indian rupee opened 29 paise higher against the US dollar on Thursday on a weak greenback amid hopes that cooling inflation in the US will allow the Federal Reserve to pause interest rate hikes soon. The local currency opened at 81.95 a dollar as compared to the previous close of 82.24.Stock market again towards all time high, Sensex opened up by 357 pointsToday the stock market opened with a boom. Today, the BSE Sensex opened at a level of 65750.95 points with a gain of about 357.05 points. On the other hand, the NSE's Nifty opened at a level of 19482.80 points with a gain of 98.50 points.
Rupee strengthened by 12 paise against dollarThe rupee strengthened by 12 paise to close at Rs 82.25 against the dollar this evening.Sensex breaks 224 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 65393.90 points with a fall of 223.94 points.On the other hand, the Nifty closed at a level of 19384.30 points with a fall of 55.10 points.
Pakistan: Considerable activity seen 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 crop of cotton in Sindh is between Rs 17,000 to Rs 17,100 per head. The rate of footi in Sindh is between Rs 7,000 to Rs 7,400 per 40 kg.The rate of cotton in Punjab is between Rs 17,300 to Rs 17,500 per head and the rate of cotton is between Rs 7,300 to Rs 7,900 per 40 kg. Cotton rates in Balochistan range from Rs 17,000 to Rs 17,100 per head, while footy rates range from Rs 7,200 to Rs 7,400 per 40 kg.About 200 bales of Daur, 200 bales of Bukhari were sold at Rs.17,200 per head, 1200 bales of Nawab Shah at Rs.17,100 to Rs.17,200 per head, 4000 bales of Tando Edam at Rs.17,000 to Rs.17,200 per head. , Kotri 800 bales sold at Rs 16,900 to Rs 17,100 per head, Khadro 400 bales at Rs 17,000 to Rs 17,100 per head, Shahdadpur 2,000 bales at Rs 17,000 to Rs 17,300 per head, 1000 bales were sold. Mirpur Khas was sold for Rs.17,000 to Rs.17,100 per head, Sanghar for Rs.17,000 to Rs.17,100 per head for 1800 bales, Hyderabad for Rs.17,000 per head for 600 bales, Khando for Rs.17,100 for 600 bales. Rs 17,200 per head, 200 bales of Jhola Rs 17,000 per head, 200 bales of Hala Rs 17,200 per head, 200 bales of Shahpur Chakar Rs 17,000 per head, 800 bales of Laiya sold Rs 17,200 to 17,500 per head, 1 of Chichavatni 400 bales 17,200 to 17,500 rupees per head, 600 bales of Haasilpur, 800 bales of Harunabad, 200 bales of Rajanpur, 1200 bales of Burewala, 800 bales of Miyan were sold. 1600 bales of Channu, Vehari, 600 bales of Ahmed Pur East, 800 bales of Rahim Yar Khan, 600 bales of Pir Mahal, 400 bales of Gojra, 4,00 bales of Shujabad Rs.17,500 per head, 18,00 bales sold to Khanewal were sold at Rs.17,500 to Rs.17,700 per head.The spot rate remained unchanged at Rs 17,000 per head. Polyester fiber was available at Rs 350 per kg.
Rupee rises 10 paise to open at 82.27 against the US dollarThe Indian rupee opened 10 paise higher against the US dollar on Wednesday helped by broader weakness in the greenback ahead of the crucial US inflation data. The local currency opened at 82.27 a dollar as compared to the previous close of 82.57.Stock market rises further, Sensex close to all-time highToday the stock market opened with a boom. Today, the BSE Sensex opened at a level of 65726.19 points with a gain of about 108.35 points. On the other hand, the NSE's Nifty opened at a level of 19469.80 points with a gain of 30.40 points.
Rupee strengthened by 20 paise against dollarThe rupee strengthened by 20 paise to close at Rs 82.37 against the dollar this evening.Sensex up 273 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 65617.84 points with a gain of about 273.67 points.On the other hand, the Nifty closed at a level of 19439.40 points with a gain of 83.50 points.
Openend spinning mills in Tamil Nadu suspend productionMost of the openend spinning mills, which are present in large numbers in Vellakoil, Dindigul, Mangalam, Palladam, and Sulur, are medium or small-scale and are LT CT electricity consumers.Over 400 openend spinning mills in Tamil Nadu suspended operations on Monday, July 10, as production costs had turned unviable for the mills.G. Arulmozhi, president of Openend Spinning Mills’ Association, told The Hindu the strike had resulted in the loss of ₹40 crore a day as nearly 30 lakh kg of yarn was not produced by the mills on Monday.Most of the openend spinning mills, which are present in large numbers in Vellakoil, Dindigul, Mangalam, Palladam, and Sulur, are medium or small-scale and are LT CT electricity consumers. Last year, the Tamil Nadu Generation and Distribution Corporation introduced peak hour charges, increased current consumption charges, and hiked the demand charges. The per unit cost paid by LT CT consumers is higher than HT consumers. “These units are shelling out almost ₹70,000 more a month because of higher power charges,” he said.Further, cotton waste prices are increasing for the last 10 months though raw cotton prices have reduced.With higher production costs, openend spinning mills in Tamil Nadu are unable to compete with the units in Punjab and Haryana that are now selling yarn in Tamil Nadu at ₹5 a kg less than the price quoted by the mills here.“The north Indian mills are bearing ₹10 a kg transport cost and still offering at ₹5 a kg lesser cost. We are unable to compete with these mills. Already about 20 mills have closed down,” he said.M. Jayabal, president of Recycle Textile Federation, said fabric woven using virgin cotton yarn was sold for ₹200 to ₹4,000 a metre depending on quality. However, grey cloth produced from the openend yarn, which was manufactured from waste cotton, cost just ₹28 - ₹50 a metre. In such a scenario, increasing waste cotton price to almost 72% - 75 % of virgin cotton had increased production cost. From August last year, the cost of comber noil (waste cotton) was 60 % to 87 % of cotton prices, varying every month. “Our funds are exhausted. For 10 months, we are operating without profit and spending the financial resources on hand,” he said. The mills reduced production during the last 10 months gradually, he said.
Maharashtra Cotton Rate: Cotton prices fall marginally in ParbhaniParbhani News : The arrival of cotton has decreased in Manawat, Selu, Parbhani, the main cotton mandis of Parbhani district. The procurement rates of cotton through auction are showing slight fluctuations. There has been a slight drop in price compared to last week.On Monday (10th), the minimum price of cotton in Selu Bazar Samiti ranged from Rs.6300 to maximum of Rs.7230 per quintal and the average price was Rs.7170 per quintal. While 190 to 200 carts of cotton arrived in Humanat Bazar Samiti, the minimum price per quintal was Rs 6000 to maximum Rs 7150 and the average price was Rs 7050.The Parbhani market committee used to earn about 100 quintals. Cotton received minimum price of Rs.6500 to maximum of Rs.7300 and an average of Rs.7250. At the Selu market committee on Saturday (8th), Kapala fetched a minimum price of Rs 6,000 to a maximum of Rs 7,255 per quintal and an average of Rs 7,125 per quintal.On Friday (7th), cotton received a minimum price of Rs.6100 to a maximum of Rs.7295 per quintal and an average of Rs.7240 per quintal. On Thursday (6th), the minimum price of cotton ranged from Rs.6100 to maximum Rs.7245 per quintal and the average price was Rs.7230 per quintal. On Wednesday (5th), the cotton price ranged from a minimum of Rs.6315 to a maximum of Rs.7340 per quintal and an average of Rs.7250 per quintal.There has been a slight decline in the price of cotton in Selu Bazar Samiti. Manavta Bazar Samiti received 1,650 quintals of cotton on Friday (7th) with a minimum price of Rs 6,000 to a maximum of Rs 7,200 and an average price of Rs 7,100 per quintal. On Thursday (6th), 625 quintals of cotton arrived and the prices ranged from a minimum of Rs.6000 to a maximum of Rs.7235 and an average price of Rs.7150 per quintal.On Wednesday (5th) 640 quintals of cotton arrived and the prices ranged from a minimum of Rs.6300 to a maximum of Rs.7370 and an average price of Rs.7280 per quintal. The arrival of cotton in Manav Bazar Samiti has decreased as compared to last week. The buying rate continues to fluctuate slightly. There is little fluctuation in the minimum and minimum rates.
Pakistan: Cotton market started the week on a positive noteLAHORE: The local cotton market remained stable on Monday with satisfactory trading volume.Cotton analyst Naseem Usman told the Business Recorder that the rate for the new crop of cotton in Sindh is between Rs 17,000 and Rs 17,300 per head. The rate of footi in Sindh is between Rs 7,000 to Rs 7,400 per 40 kg.The rate of cotton in Punjab is between Rs 17,500 to Rs 17,600 per head and the rate of foot is between Rs 7,000 to Rs 8,300 per 40 kg. Cotton rates in Balochistan range from Rs 17,000 to Rs 17,200 per head, while footy rates range from Rs 7,200 to Rs 7,500 per 40 kg.About 3600 bales of Tando Adam were sold at the rate of Rs.17,000 to Rs.17,200 per head, 1600 bales of Shahdad Pur were sold at the rate of Rs.17,000 to Rs.17,200 per head, 1400 bales of Sanghar at the rate of Rs.17,000 to Rs.17,200 per head 600 bales of Mirpur Khas were sold at Rs.7,000 per head, 400 bales of Hyderabad at Rs.17,100 per head, 800 bales of Kotri at Rs.17,000 to Rs.17,250 per head, 200 bales of Maqsuda Rind, 200 bales of Shah were sold. 400 bales of Pur Chakar, Khadro, 200 bales of Hala were sold at Rs 17,000 per head, 800 bales of Haasil Pur were sold at Rs 17,400 to 17,500 per head, 1600 bales of Chichavatni at Rs 17,600 per head 1400 bales were sold from, Vehari sold at Rs 17,400 to Rs 17,450 per head, Burewala 800 bales at Rs 17,400 per head, Taunsa Sharif 200 bales, Rajan Pur 200 bales, Dera Ghazi Khan 200 bales, Pir Mahal 400 bales were sold 200 bales of Samudri, 400 bales of Lodharan were sold at Rs.17,500 per head, 1,000 bales of Khanewal at Rs.17,500 to Rs.17,600 per head and 200 bales of Harunabad at Rs.17,500 per head.The spot rate remained unchanged at Rs 17,000 per head. Polyester fiber was available at Rs 350 per kg.
India's organic cotton cultivation figures are in dispute with global production figuresIndia's organic cotton cultivation is once again in global controversy. This time, it's up to the Organic Cotton Market Report 2022, a non-profit organization that claims to be taking positive action on climate change.It has estimated the global organic cotton crop in 2020-21 at 342,265 tonnes produced from 6,21,691 hectares of certified organic land. Organic cotton accounts for 1.4 per cent of the total cotton production and its production has increased by 37 per cent since 2019-20.However, it has less confidence in data from five countries - India, Kyrgyzstan, Tajikistan, Turkey and Uganda - which accounted for 76 per cent of the certified organic total in 2020-21. In addition, he says he trusts Turkey's data two out of three times.due to doubtTerry Townsend, a textile industry consultant and former executive director of the International Cotton Advisory Council (ICAC), said on LinkedIn that one of the reasons to be skeptical (about the report) is that yields are calculated from the reported certified area. And the output is too high to be true.In his posting, Townsend, who is demanding the report be withdrawn, said, "Almost by definition, yields in organic agriculture are lower than those achieved by conventional farmers, and the reported organic cotton for 2020-21 The yield of the same in itself raises suspicion of fraud."One reason India's data is being viewed with skepticism is that the Agricultural and Processed Food Products Export Development Authority (APEDA) – India's nodal agency for organic farming – has sued at least four certification agencies for irregularities in the certification process. has been punished.all parameters violatedThe agencies were found to be violating all norms regarding organic cotton certification and, ironically, the growers were not aware that they were part of the organic farming group.These growers did not follow any norms for organic farming and used agro chemicals in their crop. Certifying agencies did not have internal control systems, requiring an office at the location where the producer group grew organic produce.One of the organizations penalized by APEDA did not have any records of the growers group registered for organic farming. Earlier this year, the International Organic Accreditation Service suspended the accreditation of the Control Union (CU) India to test and sample Indian organic textile products, alleging irregularities in the certification process.Mentioning India and four other countries, Townsend said that farmers, ginners and traders around the world know that it is possible to make fraudulent claims of organic cotton content without much risk.no penalty“After all, no one is ever jailed or fined for falsely claiming organic certification. Of the five countries for which the 2020-21 data has admitted to having low confidence, none has a system of Permanent Ballast Identification Number (PBI),” he said.Therefore, bales of cotton in these countries can be swapped and once the bales reach the spinning mill, there is no way to trace their origin or origin. A company making a bogus claim of organic ingredients risks losing certification and becoming an unlisted-supplier, losing the certified organic value premium, potential customs detention and reputational damage, he said, but it means a lot.Townsend wrote, "Not to say that his production estimates are almost certainly inflated, there are reasons to be highly skeptical of the figures reported by the certification agencies."Unique case of TürkiyeThe report noted that organic yields in eight countries, which account for 3,07,214 tonnes (90 per cent of the world's total) of 2020-21 production, were equal to or higher than total yields in each country, they said."At the very least, he explained how such high yields could be achieved, and nowhere did he address the issue," he said.In the case of Turkey, which is the primary issue raised by the former ICAC official, while organic cotton production has tripled, the country's agriculture ministry says it has fallen fourfold!Townsend objected to this with the disclaimer that it is "purely an aggregator of data" and does not perform an authentication function. He added that farmers, ginners and traders around the world know that it is possible to make fraudulent claims of organic cotton material without much risk.
| title | Created At | Action |
|---|---|---|
| Rupee strengthened by 13 paise against dollar. | 17-07-2023 16:34:40 | view |
| Remove 11 per cent import duty imposed on cotton, industry confederation urges Centre. | 17-07-2023 15:02:16 | view |
| Pakistan Weekly Cotton Review: Bullish trend continues | 17-07-2023 13:03:53 | view |
| Rupee opens marginally higher at 82.14 against the US dollar | 17-07-2023 09:39:42 | view |
| Rupee weakens by 10 paise against dollar... | 14-07-2023 16:19:01 | view |
| Spinning mills in Tamil Nadu will stop production and sale of yarn from July 15. | 14-07-2023 13:47:48 | view |
| Pakistan: Strong trend in cotton market. | 14-07-2023 11:17:27 | view |
| Rupee opens 13 higher at 81.94 against the US dollar | 14-07-2023 09:36:06 | view |
| Rupee strengthened by 17 paise against dollar... | 13-07-2023 16:22:57 | view |
| China: China's exports fall the most in three years due to the struggle of the global economy | 13-07-2023 12:47:37 | view |
| Pakistan: Cotton market stable with satisfactory trading volume | 13-07-2023 10:51:58 | view |
| Rupee opens 29 paise higher at 81.95 against the US dollar | 13-07-2023 09:52:08 | view |
| Rupee strengthened by 12 paise against dollar | 12-07-2023 16:12:01 | view |
| Pakistan: Considerable activity seen in the cotton market | 12-07-2023 10:30:51 | view |
| Rupee rises 10 paise to open at 82.27 against the US dollar | 12-07-2023 09:54:57 | view |
| Rupee strengthened by 20 paise against dollar | 11-07-2023 16:25:23 | view |
| Openend spinning mills in Tamil Nadu suspend production | 11-07-2023 11:58:50 | view |
| Maharashtra Cotton Rate: Cotton prices fall marginally in Parbhani | 11-07-2023 11:18:18 | view |
| Pakistan : Cotton Market: The week started on a positive note | 11-07-2023 10:41:46 | view |
| India's organic cotton cultivation figures are in dispute with global | 10-07-2023 17:05:48 | view |
