Wait for revival of demand for cotton yarn gets longer in north IndiaThe prices of cotton yarn continued to remain stable in north India as recent rains and low temperature has prolonged the delay in revival of summer clothing demand. To some extent, desperation for sale increased on the part of traders, brokers and spinning mills. Some were even offering unofficial discounts on market rates to lure they buyers.“We cannot have big hope from summer season as downstream industry has ample stocks of grey fabrics, finished fabrics and readymade garments. Cotton yarn prices were ruling at discount of ₹10-15 per kg on spinning mills’ rates which shows poor demand from downstream industry,”He also cautioned for downward trend after mid-February as Chinese new cotton arrival will depress market sentiments globally including in India.Panipat market also noted similar trend on demand front. According to the trade sources, new cotton yarn and recycled cotton yarn were traded at previous prices. Recycled yarn is not getting support for the last few weeks as there is ample availability of raw material i.e., fibre of used clothing. Poor demand from furnishing segment was also depressing market sentiments. Normally furnishing demand picks up before Diwali.In Ludhiana market too, cotton yarn demand remained weak. Cotton yarn of 20 and 30 counts in combed variety were traded stable at ₹360-370 per kg and ₹390-400 per kg respectively. Carded yarn in 30 counts was quoted at ₹360-370 per kg,In Delhi, cotton yarn of 30 count combed was traded steady at ₹350-360 per kg, 40 count combed at ₹420-430 per kg, 30 count carded at ₹340-350 per kg and 40 count carded at ₹380-395 per kg, according to TexPro. 10 count weaving (O/E) yarn was quoted at ₹125-130 per kg, and 16 count weaving (O/E) at ₹165-170 per kg.In Panipat, cotton yarn prices were recorded as: 10s recycled yarn (white) at ₹95-100 per kg, 10s recycle yarn (dyed) at ₹90-100 per kg, and 20s recycled yarn (dyed) at ₹100-125 per kg. 10s optical yarn was traded at ₹90-100 per kg in the market. 2/40 combed yarn of new cotton fibre was traded at ₹400-410 per kg.
Today evening, the rupee depreciated by 13 paise to close at Rs 74.94 against the dollar.Today the stock market closed sharply.Today, where the Sensex closed at the level of 58926.03 points, up by about 460.06 points. On the other hand, the Nifty closed at the level of 17605.80 with a gain of 142.00 points.
Rupee depreciates against dollar, opens 7 paise weakerRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 7 paise at Rs 74.88 against the dollar. At the same time, on Wednesday, the rupee closed at a level of Rs 74.81 with a weakness of 6 paise against the dollar.Today the stock market opened with great momentum.Today the BSE Sensex rose by about 218.68 points to open at the level of 58684.65 points. On the other hand, the Nifty of NSE opened with a gain of 65.70 points at the level of 17529.50 points.
Rupee opens 1 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with the strength of 1 paise at Rs 74.74 against the dollar. At the same time, on Tuesday, the rupee closed at a level of Rs 74.75 with a weakness of 5 paise against the dollar.Today the stock market opened with great momentum.Today the BSE Sensex rose by about 481.94 points to open at the level of 58290.52 points. On the other hand, the Nifty of NSE opened with a gain of 143.00 points at the level of 17409.80 points. Today, trading started in a total of 2,489 companies on the BSE, out of which 1,782 shares opened up and 635 opened with a fall.
All India weather forecast for February 9, 2022Weather systems made across the countryA Western Disturbance is over North Pakistan and adjoining areas.An Induced Cyclonic Circulation is persisting over West Rajasthan and adjoining region.Another Cyclonic Circulation lies over Madhya Maharashtra and adjoining Marathwada.A trough is extending from North Kerala to a cyclonic circulation over Maharashtra.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Andaman and Nicobar Islands experienced light to moderate rain with isolated heavy falls.Light rain and snowfall occurred in Jammu and Kashmir, Gilgit-Baltistan and Muzaffarabad as well as Arunachal Pradesh and Sikkim.Light rain occurred in isolated parts of Assam and Kerala.Day temperatures have increased by 2-3 degrees over Northwest and Central India.Probable weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain and snow is possible over some parts of Western Himalaya and isolated parts of Arunachal Pradesh.Light rain may occur over parts of Rajasthan, Punjab, Haryana, Delhi, West Uttar Pradesh and Andaman and Nicobar Islands.Light rain is possible at isolated places over Sikkim, Assam and Arunachal Pradesh.Light rain is possible in some parts of North and East Madhya Pradesh, Bihar and Chhattisgarh on February 9.
Agriculture Minister S. Niranjan Reddy said that there was a huge demand for the cotton being grown in Telangana and the government has decided to establish a cotton research centre at Adilabad.Similarly the government has also decided to establish redgram seed research centre at Tandur in Vikarabad district.Disclosing these details at a review meeting here on Tuesday, Mr. Niranjan Reddy said that agriculture is one of the fields which creats more employment and hence the government has been taking all steps to strengthen it.“We have to identify the technology that will be useful for our agriculture. Focus should be on crop colonies like banana, potato, chilly, cotton seed, redgram and other vegetables. We have to take steps to grow vegetables not only surrounding Hyderabad but also in the towns and corporations across the state,” said Mr. Niranjan Reddy adding that it was decided to constitute a committee to continuously monitor the cultivation of oil palm in scientific manner.The Minister said that additional land would be acquired for oil fed factory at Aswaraopet, land would be acquired for a factory at Vensur in Khammam district, factory at Beechupally will be transformed as oil palm factory, another two factories would be established at Siddipet and Mahabubabad.“Four factories will become operational in the next six months. Oil palm cultivation will be taken up in about 20 lakh acres in the next four years. It was also decided to increase the potato cultivation in the state and cold storage facility will be increased for storing potato seed. It was decided to hand over the 10 acres of land in Koheda market to the warehousing corporation for the construction of cold storage,” said Mr. Niranjan Reddy stating that while the national average in agriculture development was 8.5 per cent it was 15.8 per cent in Telangana.
South Indian cotton yarn market may see bearish trend till mid-FebCotton yarn prices remained steady in southern and western India’s markets as demand from downstream industry continued to remain bearish. According to traders, demand is not likely to improve before mid-February. Once the fabric manufacturers exhaust their yarn inventory, they will need to buy new yarn, and demand will improve at that time.In western indian city of Mumbai, spinners quoted higher prices, but no trade materialised at those rates, so effective market prices hovered near previous levels. A broker from Mumbai told Fibre2Fashion that mills have increased their selling prices by ₹3-5 per kg as their production cost moved up due to costlier cotton. But there was no trade at higher prices.In Mumbai, since the spinning mills have increased yarn prices by ₹3-5 per kg, the gap between mills’ offer prices and market prices widened. In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,930-1,990 per 5 kg and ₹1,670-1,730 per 5 kg respectively. 80 count carded cotton yarn of weft variety was sold at ₹1,860-1,900 per 4.5 kg. Carded cotton yarn (44/46 count) of warp variety was traded steady at ₹1,720-1,740 per 5 kg.The knitwear hub of Tiruppur also witnessed steady trend in cotton yarn with bearish tone as demand was very weak. According to market sources, exporters were buying cotton yarn in limited quantity, which was not enough to improve market sentiments.Cotton yarn 30 count combed variety was traded in Tiruppur at ₹365-375 per kg, 34 count combed at ₹375-385 per kg and 40 count combed at ₹400-410 per kg. Cotton yarn of 30 count carded was sold at ₹325-335 per kg, 34 count carded at ₹330-340 per kg and 40 count carded at ₹350-360 per kg,
Today evening, the rupee depreciated by 5 paise to close at Rs 74.75 against the dollar.Today the stock market closed sharply.Today, where the Sensex closed at the level of 57808.58 points with a gain of about 187.39 points. On the other hand, Nifty closed at the level of 17266.80 with a gain of 53.20 points.
Rupee opens 7 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 7 paise at Rs 74.63 against the dollar. At the same time, the rupee on Friday closed at Rs 74.70 with a gain of 16 paise against the dollar.
Sensex rises, opens up 198 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 197.52 points to open at the level of 57818.71 points.
All India weather forecast for February 8, 2022Weather systems made across the countryA Western Disturbance is over Jammu and Kashmir and adjoining areas.An Induced Cyclonic Circulation lies over Central Pakistan.By the night of February 8, a fresh Western Disturbance will approach the Western Himalayas.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain and snow have occurred over the upper reaches of Gilgit-Baltistan, Muzaffarabad, Ladakh and Jammu and Kashmir.Light to moderate rain occurred over Andaman and Nicobar Islands.Dense fog remained over isolated parts of Punjab and Uttar Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain and snow is possible over Gilgit-Baltistan, Muzaffarabad, Ladakh, Jammu and Kashmir and isolated parts of Himachal Pradesh and Uttarakhand.Light rain is possible over Haryana, parts of North Rajasthan and isolated parts of Punjab on February 8.Rain and snowfall will increase on February 9 and will cover Uttarakhand as well. Rain and thundershowers are very likely over northern plains including isolated parts of Punjab, Haryana, Delhi, West Uttar Pradesh and North Rajasthan.Light rain is also possible in some parts of Bihar, Jharkhand, Chhattisgarh and East Uttar Pradesh.
Cotton production scanty despite huge marketCotton production in Bangladesh has been low as farmers prefer other cash crops to the white fibre, completely missing out on at least a $3 billion domestic market.The country managed to produce only 1.77 lakh bales of cotton last year, which was insufficient to meet the demand of even a single spinning mill.This represents nearly 1 per cent of the total annual consumption of the key textile raw material of 9 million bales. Some 480 pounds, or 218 kilogrammes, make a bale.This has made Bangladesh one of the largest importers of cotton as it needs to feed the local apparel industry, the second-largest in the worldSpinners, millers and other users have to spend more than $3 billion annually to buy cotton from India, the US, African countries, Australia, Brazil, Pakistan, and Central Asian nations.Currently, cotton is cultivated on 45,000 hectares of land in about 40 districts.The output has increased by 10,000 bales annually over the last five years, but the quantity has not touched 2 lakh bales.Md Akhteruzzaman, executive director of the Cotton Development Board (CDB), blames the scarcity of arable land, emphasis on food production, and lower price of cotton for the farmers' lack of interest in growing the textile raw material.Parvez Anwar, head of the Department of Agronomy of Bangladesh Agricultural University, said many other crops are grown during the cultivation period of cotton.Farmers also do not have the confidence to grow them abundantly as they do not get ready markets and better prices, he said.However, cotton prices have been better in the last two years, both in global and local markets, and it is expected that the higher rate will continue in the near future as demand is rising.In Bangladesh, good quality cotton is selling at Tk 3,600 per maund compared to Tk 2,200 to Tk 2,400 two years ago.Globally, cotton was sold at $1.26-$1.27 per pound on Saturday, which was 81.35-81.58 US cents on February 5 last year, thanks to the faster recovery of the global supply chain from the coronavirus pandemic. "So, it is expected that farmers will increase the acreage of cotton production," said Akhteruzzaman.The CDB is expecting to lift the cotton output to 2 lakh bales by 2022 and 3 lakh bales in the next five years, as part of its plans to grow the crop on one lakh hectares by 2030 and meet 10 to 15 per cent of the local demand.Currently, the CDB is implementing three major initiatives to give a boost to cotton production and improve quality.The board is executing the extended project for cotton production involving Tk 150 crore, a capacity-building project involving Tk 63 crore, and a donor-backed project to improve the quality of the raw material involving Tk 8 crore.The state-run organisation has teamed up with a UK-based international clothing brand to enhance the capacity of 15,000 farmers under a project. The CDB mainly provides technical support.Moreover, there are two more projects under the CDB aimed at alleviating poverty through cotton cultivation in hilly areas such as Bandarban and providing soft loans to farmers.A minimum support price (MSP) can be a good tool to motivate farmers to grow more cotton, said Akhteruzzaman.Khorshed Alam, managing director of Little Group, a cotton importer and consumer, says although the quality of the local variety of cotton is better than in other countries, the volume is small and the users cannot rely on domestic production.Monsoor Ahmed, chief executive officer of the Bangladesh Textile Mills Association, a platform for spinners and millers, also said farmers have to be given MSP in order to accelerate cotton production.The demand for cotton is growing rapidly as Bangladesh is a major hub for making cotton-based garments, he said.In 2022, Bangladesh will import more than 9 million bales of cotton, up from 8.5 million bales last year, on the back of a nearly 30 per cent growth in garment exports in keeping with the recovery of the global supply chain.
Today opened with a drop of 75 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by 75.23 points and opened at 58569.59.
All India weather forecast for February 7, 2022Weather systems made across the countryA Western Disturbance is over North Pakistan and adjoining Jammu and Kashmir.Another Western Disturbance is over western parts of Afghanistan.In low levels, a Cyclonic Circulation is persisting over Southern parts of Kerala.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain at one or two places occurred over Assam and Arunachal Pradesh.Light to moderate rain occurred at isolated places over rest of Northeast India, Sikkim, Sub Himalayan West Bengal and East Bihar.Dense fog remained over isolated parts of Punjab, Haryana, Uttar Pradesh and Northwest Rajasthan.Cold wave conditions are prevailing in one or two parts of Haryana.Weather activity likely during next 24 hoursDuring the next 24 hours, under the influence of a fresh Western Disturbance, light to moderate rain and snow is possible over Western Himalayas.Light rain may occur over Kerala and Tamil Nadu as well as parts of Assam and Arunachal Pradesh.Due to another Western Disturbance, once again rain and snowfall activities are possible over Western Himalayas on 8th and 9th February.Dense fog is likely to occur over parts of Punjab, Haryana and Uttar Pradesh during the next 24 hours.
All India weather forecast for February 4, 2022Weather systems made across the countryThe Western Disturbance is over Jammu and Kashmir and adjoining areas.The Induced Cyclonic Circulation lies over Northwest Rajasthan and adjoining areas.Another cyclone in circulation is over northern parts of Bangladesh.In the lower levels, a trough is extending from South Kerala to South Interior Karnataka.A fresh Western Disturbance is likely to approach the Western Himalayas on February 6.Weather movement across the country during the last 24 hoursDuring the last 24 hours, minimum temperatures have increased over Punjab, Haryana, Delhi, Rajasthan, western parts of Madhya Pradesh, Uttar Pradesh and Gujarat.Rain and snow occurred at many places in Gilgit-Baltistan, Muzaffarabad, Ladakh, Jammu and Kashmir and many parts of Himachal Pradesh and at few places over Uttarakhand, Sikkim and Arunachal Pradesh.Light to moderate rain occurred over many parts of Punjab, Haryana, Delhi and NCR and western parts of Uttar Pradesh, North Rajasthan and Northeast India.Isolated hailstorm activity was observed over Punjab and West Uttar Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, moderate to heavy snowfall is very likely to continue over Western Himalayas till February 4 and will reduce thereafter.Light to moderate rain and hail at some places are possible over Punjab, Haryana and Delhi, Uttar Pradesh.Light to moderate rain is expected over parts of Bihar, Jharkhand, West Bengal, Odisha and North Chhattisgarh till February 3 and will increase significantly over East Uttar Pradesh, Bihar, Jharkhand and West Bengal on February 4.The rain activities are expected to increase over Northeast India on February 4 and 5.From February 5, the minimum temperatures are likely to drop over Northwest and adjoining parts of Central India.
Rupee depreciates against dollar, loses 4 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 4 paise at Rs 74.88 against the dollar. At the same time, on Wednesday, the rupee declined by 5 paise to close at Rs 74.84 against the dollar.
Budget has come to an end, today opened with a drop of 72 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by about 71.71 points and opened at the level of 59486.62 points.
All India weather forecast for February 3, 2022Weather systems made across the countryThe Western Disturbance is likely to reach Western Himalayas by this afternoon.A North South Trough is extending from Kerala to North Interior Karnataka.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Arunachal Pradesh received light to moderate rain and snow.Light to moderate rain and thundershowers occurred over Assam, Meghalaya, Arunachal Pradesh, Nagaland, Manipur, Mizoram and Sikkim.Dense to very dense fog covered some parts of Punjab, foothills of Uttarakhand and parts of Uttar Pradesh.The minimum temperature increased by 2 to 3 degrees in some parts of Haryana, Delhi, Uttar Pradesh, Maharashtra, Chhattisgarh and Madhya Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, rain and snow is likely in Gilgit-Baltistan, Muzaffarabad, Ladakh, Jammu and Kashmir, Himachal Pradesh and Uttarakhand, Arunachal Pradesh and Sikkim.Light rain is possible over some parts of Punjab and Haryana and one or two parts of Delhi NCR, parts of West Uttar Pradesh and Northwest Rajasthan.Light to moderate rain may occur over Northeast India.On February 3, the intensity of rain and snow will increase in the Western Himalayas and there is a possibility of moderate to heavy snowfall.Light to moderate rain with one or two heavy spells is likely over parts of Punjab, Haryana, Delhi and Uttar Pradesh till February 3. Rain activities will increase over eastern parts of Uttar Pradesh and parts of Bihar, Jharkhand, West Bengal, North Chhattisgarh, Odisha and Northwest Rajasthan may get rain.Light rain may occur over Kerala.The minimum temperatures are likely to increase over Northwest and parts of Central and East India.
Today evening, the rupee depreciated by 5 paise to close at Rs 74.84 against the dollar.Today the stock market closed sharply.Today, where the Sensex closed at the level of 59558.33 points with a gain of about 695.76 points.On the other hand, Nifty closed at the level of 17780.00 points with a gain of 203.20 points.
Rupee opens 3 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 3 paise at Rs 74.76 against the dollar. At the same time, on Tuesday, the rupee closed at Rs 74.79 with a weakness of 18 paise against the dollar.