INDIAN COTTON YARN MARKET REPORTCotton yarn gains on higher cotton price in Indian hub of LudhianaHigher price of cotton pushed up the price of cotton yarn by ₹10-20 per kg in the north Indian knitwear hub of Ludhiana, despite poor demand. However, cotton yarn prices remained stable in other north Indian markets of Delhi and Panipat. Uncertainty regarding trading activities and severity of the third COVID wave also dented market sentiments.Cotton prices remained stable in north Indian markets today, but it has seen an increase of about ₹800-1,000 per candy of 356 kg since last mid-week. So, spinning mills have increased cotton yarn prices in the entire north Indian market, according to market sources.While slightly better demand allowed spinners to materialise price rise in Ludhiana market, the same could not happen in Delhi, according to trade sources. Traders said that consumer industries are buying yarn in very limited quantity only for their immediate need.Suresh Gupta, a trader and patron of Delhi Yarn Merchants Association told that recent fresh restrictions amid third wave of coronavirus are also disrupting market activities. Traders and downstream industries are facing problems in smooth functioning in view of worries over the spread of coronavirus.Cotton yarn of 20 and 30 counts in combed variety were traded higher by ₹20 at ₹355-365 per kg and ₹365-375 per kg respectively in Ludhiana. Carded yarn in 30 counts was quoted at ₹330-340 per kg. However, cotton yarn of 30 count combed was traded steady in Delhi at ₹370-380 per kg, 40 count combed at ₹410-420 per kg, 30 count carded at ₹350-360 per kg, and 40 count at ₹380-390 per kg, according to market analysis tool TexPro. 10 count weaving (O/E) yarn was quoted at ₹125-130 per kg, while 16 count weaving (O/E) was at ₹165-170 per kg.Panipat, a recycled yarn market in north India, also recorded stable trend. The market recorded prices as: 10s recycled yarn (white) at ₹95-100 per kg, 10s recycled yarn (dyed) at ₹90-100 per kg, and 20s recycled yarn (dyed) ₹100-125 per kg. 10s Optical yarn was traded at ₹90-100 per kg in the market.
All India Weather Forecast for January 11, 2022Countrywide weather systemsThe Western Disturbance is moving eastwards.A trough is extending from Himachal Pradesh to East parts of Uttar Pradesh.Due to the mixing of southwest westerly winds from the Arabian Sea and southeasterly winds from the Bay of Bengal, a confluence zone is forming over the central parts of the country.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Uttarakhand and Himachal Pradesh have received moderate to heavy snowfall.Scattered light rain and snowfall occurred in the upper reaches of Jammu and Kashmir and Ladakh.Light to moderate rain with one or two heavy spells occurred over eastern parts of Madhya Pradesh.Light to moderate rain occurred over West and Central Uttar Pradesh, parts of Chhattisgarh and Vidarbha.Light rain occurred over North Punjab, North and East Haryana, Delhi, Interior Odisha, parts of Bihar, Jharkhand and isolated parts of South Tamil Nadu and Kerala as well as southern islands of Andaman and Nicobar Islands.The minimum temperatures have further declined over Northwest India including Delhi, Rajasthan, Punjab, Haryana, West Madhya Pradesh, Gujarat and North Maharashtra including Mumbai.The maximum temperature of Madhya Pradesh has dropped by 3-4 degrees.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain and snow will continue over parts of Ladakh, Himachal Pradesh and Uttarakhand.Light to moderate rain with one or two heavy spells may occur over South Chhattisgarh, parts of Vidarbha and Southeast Madhya Pradesh.Light to moderate rain is possible over Chhattisgarh, remaining parts of East Madhya Pradesh and isolated parts of Jharkhand, Interior Odisha and North Telangana.Light rain is possible over Bihar, Assam, Arunachal Pradesh, parts of Marathwada and isolated parts of South Tamil Nadu, Kerala and Andaman & Nicobar Islands.The minimum temperatures are likely to drop further over Northwest and Central India.
All India Weather Forecast for January 10, 2022Weather systems made across the countryThe Western Disturbance is persisting as a cyclonic circulation over Central Pakistan and adjoining Punjab.The Induced Cyclonic Circulation is persisting over eastern parts of Rajasthan.Moist winds coming from the Arabian Sea are bringing moisture to Maharashtra, Madhya Pradesh and northern plains.Due to southwest westerly winds from Arabian Sea and southeasterly winds from Bay of Bengal, a confluence zone is formed over central parts of the country.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain and snowfall occurred over Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, Himachal Pradesh and Uttarakhand with heavy to very heavy rain and snow at a few places. Light to moderate rain and snow occurred in Ladakh.Light to moderate rain occurred over Punjab, Haryana, parts of West Uttar Pradesh, parts of Vidarbha and Northeast Rajasthan.Light to moderate rain occurred over remaining parts of Madhya Pradesh and parts of Konkan and Goa. Light rain occurred over isolated parts of Madhya Maharashtra and East Uttar Pradesh and Coastal Tamil Nadu, Kerala and Marathwada.Parts of Rajasthan and Gujarat recorded a drop of 4 to 5 degrees in the minimum temperature. And western parts of Madhya Pradesh, Punjab and Haryana witnessed a drop of 2-3 degrees.Weather activity likely during next 24 hoursDuring the next 24 hours, snowfall is very likely to continue over Himachal Pradesh and Uttarakhand for the next 24 hours with light to moderate rain and some heavy rain. Thereafter, there will be a significant decrease in the intensity of rain.Light rain and snow are possible over remaining parts of Western Himalayas.Light to moderate rain may occur over East Uttar Pradesh, parts of Bihar, Jharkhand, Chhattisgarh, Vidarbha and East Madhya Pradesh.Light rain is possible over Punjab, Haryana, northern districts of West Uttar Pradesh and one or two parts of Delhi NCR.Light rain may occur at isolated places over Konkan & Goa, Madhya Maharashtra, Kerala, Tamil Nadu, Telangana and Arunachal Pradesh.The minimum temperatures are very likely to drop further over parts of Punjab, Haryana, Delhi, Rajasthan, Gujarat, West Madhya Pradesh and West Uttar Pradesh.
ICE COTTON SUMMARYCotton slips after weak export sales dataICE cotton futures fell on Thursday, weighed by weak export sales data, with a retreat in wider markets adding to the downbeat mood.The U.S. Department of Agriculture’s weekly export sales report showed net sales of 143,200 running bales for 2021/2022, down 26% from the previous week, and 48% from the prior four-week average.“The export and export shipment numbers were not great and this is probably adding some pressure on the prices,” said Jim Nunn, owner of Tennessee-based cotton brokerage Nunn Cotton, adding that exports may have been impacted by the holiday week.“It is also not surprising that the market is down a little bit as it seems to be cooling off a little after going up in the last few sessions.”The March cotton contract has gained 2% this week.Chicago soybean futures edged lower as broad selling in financial markets countered weather concerns in South America that pushed prices to a five-month high.Wall Street’s main indexes fell in choppy trading after minutes from the Federal Reserve’s last meeting struck a hawkish note.Total futures market volume fell by 9,829 to 14,204 lots. Data showed total open interest gained 643 to 244,038 contracts in the previous session.Certificated cotton stocks deliverable as of Jan 5 totalled 617 480-lb bales, unchanged from the previous session
Rates firm amid improved business activityThe Spot Rate remained unchanged. The local cotton market on Thursday remained steady and the trading volume remained low.Cotton analyst Naseem Usman while talking to Business Recorder said that according to the fortnightly report issued by Pakistan Cotton Ginners Association on Monday 7.35 million bales arrived as compared to the last years production of 5.37 million bales during this period.He also told that cotton will not be available in the month of February. New crop of cotton will arrive in June. He also said that prices of cotton and cotton-related products like yarn and Banola increased by 60 % during 2021.He also told that the price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 6000 to Rs 8000.Cotton of Sindh was traded from Rs 15000 to Rs 19000 per maund, Punjab’s cotton was traded from Rs 16000 to Rs 18500 per maund.The Spot Rate remained unchanged at Rs 18300 per maund. The Polyester Fiber was available at Rs 252 per kg.
All India Weather Forecast for January 7, 2022Weather systems made across the countryA Western Disturbance is over Jammu and Kashmir and adjoining areas.Another Western Disturbance is over North Pakistan.And a Cyclonic Circulation is persisting over Southwest Rajasthan.The Western Disturbance which is over North Pakistan will start affecting the Western Himalayas by tonight.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain and snowfall occurred over Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, Ladakh and Himachal Pradesh with heavy snowfall at a few places.Light to moderate rain with snowfall occurred at few places in Uttarakhand.Light to moderate rain with isolated heavy rain occurred over Rajasthan, Punjab, Haryana and Northwest Uttar Pradesh.Moderate rain was recorded at one place with isolated light rain over remaining parts of Rajasthan, Delhi, remaining parts of Uttar Pradesh, North Madhya Pradesh and some parts of Gujarat.The minimum temperature further increased in parts of Delhi, UP, Chhattisgarh, Bihar, Jharkhand and Madhya Pradesh.Dense fog covered parts of East Uttar Pradesh and Bihar. Moderate fog was observed over central parts of Uttar Pradesh and parts of Rajasthan.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain is likely at isolated places over Central and East Uttar Pradesh, North Madhya Pradesh and East Rajasthan.Light rain with one or two isolated spells of rain may occur over some parts of Gujarat and some parts of Bihar.Parts of Punjab, Haryana, North Rajasthan, West Uttar Pradesh and Delhi NCR may receive light rain on January 6.Light to moderate rain and snow are possible over Western Himalayas on 6th January and will increase in intensity once again on 7th and 8th January.On January 7 and 8, rain activities will increase over Punjab, Haryana, North Rajasthan, Delhi and West Uttar Pradesh.Incessant rains will improve the air pollution of Delhi and NCR.
Rupee depreciates against dollar, loses 8 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 8 paise at Rs 74.44 against the dollar. At the same time, the rupee on Thursday closed at Rs 74.36 with a gain of 19 paise against the dollar.
Sensex boomed as soon as it opened, breaking open by breaking 584 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by about 584.18 points and opened at the level of 59638.97 points.
ICE COTTON SUMMARYICE cotton little changed as traders await dataICE cotton futures were little changed on Wednesday, consolidating after hitting a 1-1/2 month high in the previous session, as investors awaited the U.S. Department of Agriculture’s (USDA) weekly export sales report.“There is a little bit of profit-taking and repositioning. People are kind of waiting for some new economic developments. Based on yesterday’s levels, I think there’s some overhead resistance going on as well,” said Bailey Thomen, cotton risk management associate at StoneX Group.Cotton prices rose more than 3% on Tuesday, supported by strong demand outlook and upbeat sentiment across wider financial and commodity markets.Focus now shifts to USDA’s weekly export sales report due on Thursday. Last week, the report showed net sales of 192,200 running bales, with China being the top buyer.“The demand for U.S. cotton continues to be very solid. We’re still hearing that there’s a lot of inquiries going on, and of course it’s all been continually made worse by the shipping issues that are still ongoing,” Thomen said.Meanwhile, the dollar index was down 0.4% against its rivals after a stronger-than-expected report on the labour market and ahead of minutes from the Federal Reserve’s December meeting.Total futures market volume fell by 17,517 to 13,357 lots. Data showed total open interest gained 2,159 to 243,395 contracts in the previous session.Certificated cotton stocks deliverable as of Jan.4 totalled 617 480-lb bales, unchanged from the previous session.
Subdued business on cotton marketThe Spot Rate remained unchanged. The local cotton market on Wednesday remained steady and the trading volume remained low.Cotton analyst Naseem Usman while talking to Business Recorder said that according to the fortnightly report issued by Pakistan Cotton Ginners Association on Monday 7.35 million bales arrived as compared to the last years production of 5.37 million bales during this period.He also told that cotton will not be available in the Month of January. New crop of cotton will arrive in June. He also said that prices of cotton and cotton related products like yarn and Banola increased by 60 percent during 2021.He also told that that price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 6000 to Rs 8000.Cotton of Sindh was traded from Rs 15000 to Rs 19000 per maund, Punjab’s cotton was traded from Rs 16000 to Rs 18500 per maund. He told that 1200 bales of Pano Aqil was sold at Rs 18500 per maund, 600 bales of Mehrab Pur were sold at Rs 17011 per maund, 800 bales of Rahim Yar Khan were sold at Rs 18500 per maund and 1000 bales of Multan were sold at Rs 18300 per maund.The Spot Rate remained unchanged at Rs 18300 per maund. The Polyester Fiber was available at Rs 252 per kg.
All India Weather Forecast for January 6, 2022Weather systems made across the countryThe Western Disturbance is over Jammu and Kashmir and another Western Disturbance can be seen over North Pakistan and adjoining Afghanistan.A Cyclonic Circulation lies over Southwest Rajasthan and adjoining areas of Pakistan.A Cyclonic Circulation is persisting over East Bangladesh.A fresh Western Disturbance which will be stronger will start affecting the Western Himalayas from the night of January 6.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light rain at many places and moderate rain at few places has been recorded over Rajasthan.Light rain has occurred over parts of Punjab, Haryana, Delhi, West Uttar Pradesh and Andaman and Nicobar Islands.Extensive rain and snow has occurred at isolated places over Gilgit-Baltistan, Muzaffarabad, Ladakh, Jammu and Kashmir and Himachal Pradesh and Uttarakhand.The minimum temperature has increased by 2-3 degrees over most parts of Northwest and Central India.Dense to very dense fog was observed over parts of Uttar Pradesh and Bihar.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain and snow are very likely to occur over Western Himalayas. Heavy snowfall may also occur at some places with heavy rain.Light to moderate rain with isolated heavy rains may occur over Punjab, Haryana and Rajasthan as well. Hailstorm is also possible at some places in these states.Light to moderate rain is also possible over Delhi, West and Central Uttar Pradesh, parts of Gujarat and West and North Madhya Pradesh.Day temperatures will drop by 2-4 degrees over Northwest and Central India.
ICE COTTON SUMMARYCotton hits 1-1/2 month high, tracks broader market rallyICE cotton futures rose more than 3% to a 1-1/2 month high on Tuesday as upbeat sentiment across wider financial and commodity markets seeped into the US cotton market.“The first thing that’s helping the cotton market is probably all of the outside markets. It looks like index funds are also buying,” said Louis Rose of Tennessee-based Rose Commodity Group.“Demand for US cotton is decent mostly coming from China and Vietnam. Prices are getting close to the upper end range right now.”Oil prices rose 2% as OPEC+ producers agreed to stick with their planned increase for February, while appetite for riskier assets remained strong.Higher oil prices make polyester, a substitute for cotton, more expensive.Chicago soybean and corn futures rose as prices were underpinned by forecasts of dry weather in South America that could hurt yields.Meanwhile, speculators increased net long position in cotton futures by 3,151 contracts to 72,355 in the week to Dec. 28, data from the Commodity Futures Trading Commission (CFTC) showed on Monday.The dollar index gave up earlier gains and was down 0.1% against its rivals, making cotton less expensive for other currency holders.Total futures market volume fell by 3,760 to 10,346 lots. Data showed total open interest gained 318 to 239,896 contracts in the previous session.
PAKISTAN COTTON MARKET UPDATESpot rate picks up Rs 300 despite rise in phutti arrivalThe Spot Rate Committee of the Karachi Cotton Association (KCA) on Tuesday increased the spot rate by Rs 300 per maund and closed it at Rs 18300 per maund. The market remained bullish and the trading volume remained low.Cotton analyst Naseem Usman while talking to Business Recorder said that according to the fortnightly report issued by Pakistan Cotton Ginners Association (PCGA) on Monday 7.35 million bales arrived as compared to the last year production of 5.37 million bales during said period.He also told that cotton will not be available in the month of February. New crop of cotton will arrive in June. He also said that prices of cotton and cotton-related products like yarn and Banola increased by 60 % during 2021.He also told that the price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 6000 to Rs 8000.Cotton of Sindh was traded from Rs 15000 to Rs 19000 per maund, Punjab’s cotton was traded from Rs 16000 to Rs 18500 per maund.The Polyester Fiber was available at Rs 252 per kg.
All India Weather Forecast for January 4, 2022Weather systems made across the countryThe Western Disturbance is over North Pakistan and adjoining parts of Afghanistan.A Cyclonic Circulation lies over Southwest Bay of Bengal, off Sri Lanka coast.Another Cyclonic Circulation is persisting over Southwest Rajasthan.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over Tamil Nadu Coast.Light rain occurred over Interior Tamil Nadu and Andaman and Nicobar Islands.Moderate to dense fog covered parts of Punjab, Uttar Pradesh and Northeast India.Weather activity likely during next 24 hoursDuring the first 10 days of January, a series of Western Disturbances will reach the Western Himalayas.During the next 24 hours, light rain with one or two moderate rains and snow is possible at isolated places over Jammu and Kashmir, Gilgit Baltistan, Muzaffarabad, Ladakh and parts of Himachal Pradesh and Uttarakhand.Light to moderate rain is also possible over Rajasthan, parts of Punjab, Haryana, Delhi and western parts of Uttar Pradesh.Light rain is possible over Tamil Nadu Coasts.
Today evening, the rupee depreciated by 29 paise to close at Rs 74.55 against the dollar.Today the stock market closed sharply.Today, where the Sensex closed at the level of 59855.93 points with a gain of about 672.71 points. On the other hand, Nifty closed at 17805.30 with a gain of 179.60 points.
Sensex opens sharply, rises 238 pointsToday the stock market opened with great momentum. Today the BSE Sensex opened with a gain of 237.70 points at the level of 59420.92 points.
Rupee collapses against dollar, opens weak by 26 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 26 paise at Rs 74.52 against the dollar. At the same time, on Monday, the rupee strengthened by 7 paise to close at Rs 74.26 against the dollar.
ICE COTTON SUMMARYCotton rises on strong demand viewICE cotton futures rose in thin trading on Monday, helped by strong demand prospects for the natural fiber, although a robust dollar capped further gains.“Cotton has good fundamentals. We had a good shipment number last week. A good sales number and China was the number one buyer for cotton. The trend of cotton is still up,” said Keith Brown, principal at Keith Brown and Co in Georgia.“However, the dollar today being up 70 points is rather extreme, so that is causing a little consternation among traders. But overall, I think cotton fundamentals are fairly solid.”The US dollar rose 0.6% against a basket of major currencies, tracking government bond yields as investors anticipate the Federal Reserve will stay on its path of interest rate hikes in 2022.A stronger greenback makes cotton more expensive for other currency holders.Last week, the US Department of Agriculture (USDA) weekly export sales report showed net sales of 192,200 running bales, with China being the top buyer.Chicago soybean futures prices rose by about 1.5% on South American weather concerns, while world markets got 2022 off to an optimistic start, with US and European equity markets powering higher on Monday.On the technical front, “the March contract should experience resistance near 115-116 cents and support near 100-102, 95 -96 and 90-92 cents over the near-to-medium-term,” Louis Rose of Tennessee-based Rose Commodity Group said in a note.Total futures market volume fell by 3,760 to 10,346 lots. Data showed total open interest gained 318 to 239,896 contracts in the previous session. SiS Commited to update you on all textile related news real time.RegardsTeam SisAny query plz call 9111977771Smartinfoindia.comhttps://wa.me/919111977775
Dullness persists on cotton marketThe Spot Rate remained unchanged. The market remained steady and the trading volume remained low.Cotton analyst Naseem Usman while talking to Business Recorder said that according to the fortnightly report issued by Pakistan Cotton Ginners Association on Monday 7.35 million bales arrived as compared to the last years production of 5.37 million bales during this period.He also told that cotton will not be available in the month of January. A new crop of cotton will arrive in June. He also said that prices of cotton and cotton-related products like yarn and Banola increased by 60 % during 2021.He also told that the price of Punjab’s Phutti attracted per 40 kilograms prices from Rs 6000 to Rs 8000.Cotton of Sindh was traded from Rs 15000 to Rs 19000 per maund, Punjab’s cotton was traded from Rs 16000 to Rs 18500 per maund.The Spot Rate remained unchanged at Rs 18000 per maund. Polyester Fiber was available at Rs 252 per kg.
Waive import duty on cotton: Textile entrepreneurs to CentreTextile entrepreneurs are seeking waiver of import duty on cotton to tide over the rise in yarn price that has put the industry under stress over the last one year.Prabhu Dhamodharan, convenor of Indian Texpreneurs Federation (ITF) that has over 450 textile entrepreneurs as members, said the price of raw cotton increased by 67% in the last 12 months.“The Union government should remove the import duty on cotton to bring down cotton prices,” he said.Ideally, the cost of cotton should have come down in the last few weeks. But staggered supply of cotton by farmers has kept the prices high. The role of traders in hoarding cotton is also cited as a reason for the price rise.“Cotton traders are engaging in hoarding, which has been creating artificial shortage resulting in cost inflation. Import is also difficult as the government had imposed an import duty of 10% in last year’s Budget,” said president of Tirupur Exporters and Manufacturers Association (Teama) M P Muthurathinam. “Yarn prices have increased by over 150/kg in one year. On Saturday alone, there was 30 increase, taking the price to 360. It is expected to go up,” he said.Raja M Shanmugam, president of the Tiruppur Exporters Association, said that the government has been silent as cotton farmers are getting benefit over the increase in cotton price. “But survival of the textile industry, which is also labour intensive, is the responsibility of the government as it ensures livelihood of millions of families. If this industry suffers, cotton farmers will eventually suffer. Waiving import duty on cotton will be an immediate measure to bring prices down.”