This week's Cotton AccountDetails from 9 May 2022 to 14 May 2022Traders need to be very cautious due to uncertain boom in cotton trade. Keeping this in mind, we have brought you a complete account of last week's cotton. Let's know all the important information related to the world of cotton.Weather- The temperature was very high in most places last week. In most of the cotton areas, the area of cotton is larger due to early sowing. It is being said that the new cotton crop will come early and in abundance.Inflows - Last week cotton inflows have been recorded around 3 lakh bales. At present the daily inflow of cotton is 40 thousand bales per day. Prices continue to rise, ginning factories are getting the benefit.Cotton and Yarn – Yarn prices are stable but demand remains. The price of cotton has also come down, its demand is also very limited. Selling cotton has become a challenge for ginners these days.Ice Cotton - ICEE July futures last week 1.59 plus weekly change. This is the best time for multinational companies to sell cotton in India. It is likely that the government will now make effective efforts to reduce prices. ICE Kajulai futures rose 1.59 cents. It closed last week at 145.20.MCX - MCX May futures closed at 48,700 last week with a gain of 1940 points. The June futures market closed at 48,660 points with a gain of 2180 points.NCDX Cotton and Khaal – On the NCDX platform, April saw an increase of 19.5 points in Cotton while the Khaal market remained negative. Khaal closed the month of May with a decrease of 58 points at 2856. A decrease of 77 points was recorded in June and 81 points in July. Currencies - Due to the record rise in dollar prices, this week saw a lot of fluctuations in the currencies of various countries. But at the end of the week most of the currencies showed a positive change. Indian rupee appreciated by 0.53 points, Pakistani rupee by 6.1 points, Chinese currency by 0.2238 points, Australian dollar by 0.02914 points and Malaysian ringgit by 0.02805 points. While the Brazilian real recorded a negative difference of 0.0221.OTHER EXCHANGE MARKET - Indian cotton prices have touched their highest levels. MCX futures key cotton price has moved higher than the Kotlook A index. At the end of the week, Kotlook A Index was down 3.25, Brazil Cotton Index was up 7.49, USDA Spot Rate was up 1.59, MCX Spotrate was up 1870. Whereas no difference was observed in KCA spot rate of Pakistan.A look here too – Last week in commodity markets brought negative spreads for Gold, Silver and Crude. At the end of the week, gold prices were down $75.5, silver was down $1.247 and crude was down $0.45.Summary Report - Cotton prices hit all-time high due to speculators' play. The benefit of this rise in prices has been given only to farmers and engineers while other textile channels are also finding it difficult to extract their margins. Looking at the current scenario, it seems that Indian cotton prices will remain bullish. MCX futures are in the hands of speculators. Due to the limited number of outstandings and low volumes, they can play as they wish. In such a case, the businessman should speed up the business based on his wisdom and discretion.
Today on the occasion of Buddha Purnima, there was no business in the foreign exchange market today due to holiday.Sensex returned, closed by 180 pointsToday the stock market closed sharply.Today, where the Sensex closed at the level of 52973.84 points down by about 180.22 points.On the other hand, Nifty closed at a level of 15842.30 with a fall of 60.10 points.
All India Weather Forecast for May 16, 2022Countrywide weather systemsSouthwest Monsoon has advanced into South Andaman Sea, Nicobar Islands and adjoining southeast Bay of Bengal.The Cyclonic Circulation lies over Coastal Andhra Pradesh and adjoining region.A trough is passing through Sub-Himalayan West Bengal from Bihar to Assam and Meghalaya.A Western Disturbance is persisting over North Pakistan.The Cyclonic Circulation lies at 500 hpa over Kerala and adjoining southeast Arabian Sea.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Kerala, Assam, Meghalaya, Arunachal Pradesh and Lakshadweep experienced moderate to very heavy rain with isolated heavy falls.Light to moderate rain with one or two heavy spells occurred over rest of Northeast India, Tamil Nadu and West Bengal.Light to moderate rain occurred over South Interior Karnataka, Andaman and Nicobar Islands and Chhattisgarh.Light rain occurred over Rayalaseema and Interior Karnataka.Heat wave conditions persisted over Rajasthan, Haryana, Delhi, parts of South Uttar Pradesh, most parts of Madhya Pradesh and Punjab.Heat wave conditions are persisting over Northwest Madhya Pradesh and Southwest Uttar Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, moderate to heavy rains with very heavy falls at a few places are likely over Northeast India, Andaman and Nicobar Islands, Kerala, Coastal and South Karnataka.Light to moderate rain with one or two heavy spells may occur over Sikkim, Sub-Himalayan West Bengal, Interior Tamil Nadu and Lakshadweep.Light to moderate rain may occur at one or two places over Northeast Bihar, parts of Chhattisgarh, North Interior Karnataka and Goa.Light rain is possible over Rayalaseema, Odisha, South Madhya Maharashtra, Goa, Telangana and Western Himalayas.Light rain and dust storm and thundershowers are very likely to occur over northern parts of Punjab and Haryana. Light dust storm is very likely to occur over remaining parts of Punjab, Haryana, West Uttar Pradesh and isolated parts of Delhi NCR.Heat wave conditions with isolated heat wave conditions may occur at isolated places over Rajasthan, parts of Madhya Pradesh, South Uttar Pradesh, Haryana and Delhi.Heat wave conditions are likely over parts of Vidarbha, North Madhya Maharashtra and Gujarat.
Sensex rises further, opens up 111 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 111.45 points to open at the level of 52905.07. On the other hand, the Nifty of NSE opened with a gain of 30.20 points at the level of 15812.40 points.
CAI again reduced its cotton crop estimate, said 323.63 lakh bales from 2021-22 seasonThe Crop Committee of the Cotton Association of India recently held a meeting on 13 May 2022. In this meeting, 15 prominent members from different cotton producing regions of the country participated. In the meeting, the committee arrived at the April estimates of cotton crop for the 2021-22 season and prepared an estimated cotton balance sheet based on the data received. According to this sheet, CAI has reduced its consumption estimate for the current year 2021-22 to 320 lakh bales per 170 kg. Whereas last year the consumption estimate was 335 lakh bales of 170 kg. At the same time, the consumption figure is estimated to be 200 lakh bales per 170 kg by 30 April 2022.estimation of productionIn terms of production, CAI has also reduced its production estimate for the season 2021-22. Now the estimated production is 323.63 lakh bales per 170 kg. While the previous estimate was 335.13 lakh bales per 170 kg. Have a look at the changes made in the State wise Cotton Production Estimates -Changes in arrival figures alsoIndian cotton arrivals during the months of October 2021 to April 2022 are estimated at 277.49 lakh bales per 170 kg. By 30 April 2022, about 85 percent of Indian cotton arrivals have been exhausted. According to CAI data from 2017-18 to 2019-20, 15.64 per cent of the total crop arrivals comes between May 1 and September 30. This includes the arrival of the new crop of August and September along with the current season.A look at import-exportThe import of cotton in India has been estimated at 1.5 million bales per 170 kg. Whereas the import of season 2021-22 is 5 lakh bales more than the estimate. The committee has also reduced its exports to 40 lakh bales per 170 kg. In the meeting, the committee has estimated its closing stock to be 53.63 lakh bales per 170 kg on September 30, 2022.
The rupee declined by 3 paise to close at Rs 77.45 against the dollar this evening.Stock market fall, Sensex breaks 137 points moreToday the stock market closed with a fall.Today, where the Sensex closed at the level of 52793.62 points with a fall of 136.69 points.On the other hand, Nifty closed at a level of 15782.20 points down by 25.80 points.
Sensex Rises Over 450 Points, Nifty Trades Above 15,950The 30-share BSE Sensex jumped 481 points or 0.91 per cent to 53,411 in early trade, while the broader NSE Nifty moved 147 points or 0.93 per cent up to trade at 15,955.
Rupee opens 8 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 8 paise at Rs 77.34 against the dollar. At the same time, on Thursday, the rupee closed at Rs 77.42 with a weakness of 18 paise against the dollar.
All India Weather Forecast for May 13, 2022Countrywide weather systemsThe Deep Depression which is a remnant of Cyclone Asani has turned into a depression. Now it will gradually intensify into a deep low pressure area.A Western Disturbance is persisting over Jammu and Kashmir and adjoining region.An Induced Cyclonic Circulation lies over Central Pakistan.A trough is extending from Northwest Rajasthan to Southeast Madhya Pradesh.Another Low Pressure Line is extending from Vidarbha to the Cyclonic Circulation associated with the Depression.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Coastal Andhra Pradesh received moderate to heavy rains.Light to moderate rain at isolated places occurred over Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura parts of Assam and Sikkim.Rest of Northeast India, West Bengal, Andaman & Nicobar Islands, Kerala, Karnataka, Rayalaseema parts of Bihar, Himachal Pradesh received light to moderate rain.Light rain occurred over Odisha, South Chhattisgarh, East Uttar Pradesh, parts of Telangana, South Konkan and Goa, South Madhya Maharashtra, Tamil Nadu and Marathwada and one or two parts of Jammu and Kashmir, Uttarakhand.Heat wave conditions are observed at few places over West Madhya Pradesh, one or two parts of East Rajasthan and Gujarat and most parts of Rajasthan.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls is likely over Coastal Andhra Pradesh, Sub-Himalayan West Bengal, Sikkim, Northeast India, Andaman and Nicobar Islands and Kerala.Light to moderate rain is very likely at one or two places over West Bengal, East Bihar and South Karnataka.Moderate rain with one or two places may occur over Odisha, Western Himalayas, Jharkhand, Konkan and Goa, Telangana and Lakshadweep.Light rain is possible at isolated parts of Marathwada, South Chhattisgarh and Vidarbha.Heat wave conditions are possible over most parts of Rajasthan, parts of West Madhya Pradesh, Gujarat, Vidarbha, North Madhya Maharashtra and isolated parts of Haryana, Delhi and East Madhya Pradesh
U.S. EXPORT SALES FOR WEEK ENDING 5/5/2022 Cotton: Net sales of 27,500 RB for 2021/2022--a marketing-year low--were down 88 percent from the previous week and 76 percent from the prior 4-week average. Increases primarily for India (19,800 RB), Peru (3,100 RB), Pakistan (2,600 RB), Guatemala (2,400 RB), and Vietnam (1,400 RB switched from China), were offset by reductions for China (3,300 RB), Turkey (1,900 RB), Ecuador (700 RB), and Thailand (300 RB). Net sales of 90,600 RB for 2022/2023 primarily for El Salvador (28,400 RB), Guatemala (25,300 RB), Pakistan (11,000 RB), Peru (10,700 RB), and Mexico (7,800 RB), were offset by reductions for Costa Rica (900 RB). Exports of 364,500 RBwere down 15 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to China (107,700 RB), Turkey (60,700 RB), Pakistan (50,500 RB), Vietnam (46,700 RB), and Mexico (26,300 RB). Net sales of Pima totaling 2,100 RBwere down 38 percent from the previous week and 63 percent from the prior 4-week average. Increases reported for Thailand (1,600 RB, including 400 RB switched from Vietnam), India (1,500 RB, including 1,100 RB switched from Italy), and Ethiopia (500 RB), were offset by reductions for Italy (1,100 RB) and Vietnam (400 RB). Total net sales of 2,900 RB for 2022/2023were reported for Peru. Exports of 8,300 RB were down 61 percent from the previous week and 43 percent from the prior 4-week average. The destinations were primarily to India (2,800 RB), Vietnam (1,700 RB), Pakistan (1,300 RB), Peru (1,200 RB), and Thailand (600 RB). Optional Origin Sales: For 2021/2022,options were exercised to export 1,200 RB to Pakistan from the United States. The current outstanding balance of 56,000 RB is for Vietnam (52,800 RB) and Pakistan (3,200 RB). Exports for Own Account: For 2021/2022,the current exports for own account outstanding balance is 100 RB, all Vietnam.
Rupee down 17 paise to close at Rs 77.41 against dollar today evening.Sensex 1158 points, Rupee gains strength against DollarToday the stock market closed with a fall.Today, where the Sensex closed at a level of 52930.31 points, down 1158.08 points.On the other hand, Nifty closed at the level of 15808.00 with a fall of 359.10 points.
All India Weather Forecast for May 12, 2022One trough is extending from Punjab to Southwest Madhya Pradesh and another trough is extending from Vidarbha to Coastal Andhra Pradesh.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over Kerala and Gangetic West Bengal.Light to moderate rain at one or two places has occurred over parts of Tamil Nadu, South Interior Karnataka, Rayalaseema, Manipur, Mizoram and Tripura.Light to moderate rain occurred over Coastal Andhra Pradesh and Andaman and Nicobar Islands.Heat wave conditions are prevailing in some parts of Rajasthan and isolated parts of Gujarat, Madhya Pradesh and Vidarbha.Weather activity likely during next 24 hoursModerate to heavy rains are likely over Coastal Andhra Pradesh during the next 24 hours.Light to moderate rain may occur over Tamil Nadu, South Karnataka, Sikkim and Andaman and Nicobar Islands.Light rain is possible over Bihar, Jharkhand, Interior Odisha, South Chhattisgarh, parts of Telangana, Konkan and Goa, North Interior Karnataka, South Madhya Maharashtra, Himachal Pradesh and Uttarakhand.Heat wave conditions are possible over many parts of Rajasthan, Gujarat, Vidarbha, Marathwada, North Madhya Maharashtra, Madhya Pradesh and isolated parts of South Haryana.
Sensex boomed as soon as it opened, registered a decline of 632 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by about 632.45 points and opened at the level of 53455.94 points. On the other hand, the Nifty of NSE opened with a decline of 178.70 points at the level of 15988.40 points. Today, trading started in a total of 1,584 companies in the BSE, out of which about 507 shares opened with a rise and 985 with a fall.
Rupee collapses against dollar, opens weak by 29 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 29 paise at Rs 77.53 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 77.24 with a strength of 9 paise against the dollar.
Cotton consumption in India reduced by 10 lakh bales per monthThe record high prices of raw cotton have led to a decline in the monthly cotton consumption in India. According to the Spinning Mills Association, 29 lakh bales are consumed per month in the country, but this month this figure has come down to 19 lakh bales. The reduction of 10 lakh bales in consumption in a month is astonishing. Let us know in which state there has been a reduction in cotton consumption per month.A look at the reason for the low consumption of cotton-Record increase in the prices of raw cotton.Mills are not able to sell in domestic and export market at higher prices of yarn.Many small mills are 100 percent closed due to loss.- Many big mills are also working for only one shift.Due to not being able to sell yarn at record rates, some mills have taken one or two days off in a week.Many mills are shifting from cotton to polyester and viscose.To reduce cotton usage, many mills are shifting from combed yarn to carded yarn.There are also some states where these days there is a power cut of 6 to 8 hours daily, as a result mills remain closed for the same number of hours.Garment and powerlooms are working with only 30 to 50 percent capacity.Due to the high rates of cotton yarn, the garment sector and powerloom unions have announced 100% strike from May 15 to 22.
Export of cotton textile increases immensely, touches $ 15.29 billion in year 2021-22In the year 2021-22, the export of cotton textiles, including raw cotton is $15.29 as per the provisional data.This is s great spike as compared to last year which was merely $9.8 billion. The government targeted the export of $13.6 billion this year, says Manoj Kumar Patodia, chairman of Cotton Textile Export Promotion Council (Texprocil).Such a major jump is because of the exports of yarn, fabrics and made ups to countries like Bangladesh, US, Portugal and Sri Lanka.The Chairman of Texprocil , Siddhartha Rajagopal added that yarn export to China and textile export to countries like Egypt and Portugal also contributed to the such huge quantity of export. Indian marketers were in search of new markets and apart from it they increased the volume of exports too.But the sustainability of this growth is dependent over several factors such as supply chain limitation, high price raw materials etc. So before proceeding for the next marketing year traders should re-examine the business model to remain competitive in market.
Today evening, the rupee strengthened by 9 paise to close at Rs 77.24 against the dollar.Sensex closed down by breaking 276 pointsToday the stock market closed with a fall.Today, where the Sensex fell by about 276.46 points, closed at the level of 54088.39 points.On the other hand, Nifty closed at the level of 16167.10 points down by 72.90 points.
Sensex rose today, opened up 162 points.Today the stock market opened with great momentum. Today the BSE Sensex rose by about 161.88 points to open at the level of 54526.73 points. On the other hand, the Nifty of NSE opened with a gain of 58.00 points at the level of 16298.00 points. Today, trading started in a total of 1,640 companies in the BSE, out of which about 954 shares opened with a rise and 578 with a fall.
Rupee opens 12 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 12 paise at Rs 77.21 against the dollar. At the same time, on Tuesday, the rupee strengthened by 14 paise to close at Rs 77.33 against the dollar. Trading in dollars needs to be done very wisely, otherwise the investment may suffer.
Rupee recovers 12 paise to close at 77.32 against US dollarSnapping its two-day losing streak the rupee appreciated 12 paise to end at 77.32 (provisional) against the US dollar on Tuesday, supported by a rebound in regional currencies and fall in crude oil prices.Indian equity markets ended lower on Tuesday amid weak global cues.BSE Sensex closed 105.82 points or 0.19% lower at 54,364.85, while the NSE Nifty 50 ended 61.90 points or 0.38% lower at 16,240