*China to implement second batch of state cotton reserves sales in 2021/22**The China National Cotton Reserve Company announced on Nov 9 that the first batch of state cotton reserves sales has ended, and to meet the cotton enterprises’ demand, it will organize the second batch of state reserves sales in 2021/22 season from Nov 10, 2021. The volumes offered for sales total 600kt this time, and the daily volumes will adjust according to market situation.**The base selling price of reserved upcountry cotton this week=the average price of prior week's international cotton price.**Other reserved cotton price calculation method remained unchanged.* *Formula:* *Base selling price (cotton type* *3128B)=average price of prior week's domestic cotton prices*50%+average price of prior week's international cotton price*50%*. 1. *Domestic cotton price=(China Cotton Index+CNcotton)/2;*2. *International cotton price=Cotlook A Index (converted to USD per ton)*exchange rate*(1+1%import duty)*(1+9%VAT)*3. *The exchange rate is the benchmark exchange rate of the foreign currency against the RMB announced by the People's Bank of China, based on the customs taxation method and the third Wednesday of the previous month (if it is on public holiday, the fourth Wednesday is postponed).*
*World Agricultural Supply and Demand Estimates**COTTON: This month’s 2021/22 U.S. cotton estimates are largely unchanged from October. The U.S. production forecast is slightly higher, at 18.2 million bales, while domestic mill use and exports are unchanged. U.S. ending stocks are 200,000 bales higher at 3.4 million—19 percent of use—and 250,000 above the previous year. The projected marketing-year average price received by upland producers is unchanged this month at 90 cents per pound, a 36 percent year-to-year increase.**The global cotton balance sheet for 2021/22 includes higher production and consumption, and slightly lower ending stocks. Beginning stocks this month are also lower, by 1 million bales, due to higher estimated consumption in earlier years for India, Pakistan, and Mexico. Their projected use in the current year is also higher this month, and total global consumption is up 700,000 bales. The world production forecast is 1.5 million bales higher as gains for Brazil, Australia, Pakistan, and the United States more than offset a 200,000- bale decline in Greece following unusually heavy October rainfall. World ending stocks are projected at 86.9 million bales, 200,000 bales lower than in October, and 2.4 million bales lower than in 2020/21*
*All India Weather Forecast for November 10, 2021**Weather systems made across the country*A cyclonic circulation is persisting over South Andaman Sea, under which a Low Pressure Area is likely to form over South Andaman Sea and adjoining areas. It may intensify into a depression and move west-northwestwards towards Tamil Nadu coast.A trough is extending from the cyclonic circulation over southeast Bengal to southwest Bay of Bengal off Tamil Nadu coast.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred over parts of Tamil Nadu and Kerala and heavy to very heavy at isolated places.Scattered light to moderate rain occurred over South Interior Karnataka Andaman and Nicobar Islands.*Light rain fell in Lakshadweep.**Weather activity likely during next 24 hours*During the next 24 hours, isolated light to moderate rains are likely over Tamil Nadu, parts of Kerala, Coastal Andhra Pradesh and Andaman and Nicobar Islands.Heavy to very heavy rain very likely over Coastal Tamil Nadu and South Andhra Pradesh coast from November 10 to November 11.Light to moderate rain is possible over South Interior Karnataka.Light rain may occur at isolated places over Lakshadweep, parts of Telangana and South Odisha.
Today evening, the rupee depreciated by 2 paise to close at Rs 74.03 against the dollar.Today the stock market closed with a fall.Today, where the Sensex closed at the level of 60433.45 points, down 112.16 points. On the other hand, Nifty closed at the level of 18044.30 points down by 24.20 points.
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 strength of 8 paise at Rs 73.93 against the dollar. At the same time, on Monday, the rupee closed at Rs 74.02 with a gain of 44 paise against the dollar.
Poor start in the Sensex, falling 51 points to openToday the stock market opened with a fall. Today the BSE Sensex fell by about 51.02 points and opened at the level of 60494.59 points.
*Cotton Traders Weigh ‘Conflicting’ Signals for Price Outlook**Cotton futures were little changed as traders weighed increased concern about demand against near-term tight supplies.**Stockpiles at depots monitored by ICE Futures U.S. in New York fell 4% to the lowest in more than a year amid delays for the American harvest. Last week, government data showed demand for domestic supplies has slowed following the futures rally to 10-year highs.**While bulls are betting China will continue to buy U.S. supplies in big volumes, the country had big cancellations to prior purchases. The weaker sales came as concern emerges the market has begun to lose share to polyester, Ollie Cleveland, a consultant and Mississippi State University economics professor emeritus, said in a Monday report.* *That’s “conflicting” with expected support from commercial traders, who have a very large unfixed sold position that has to be closed with buying of futures, he said.**The March contract at ICE traded at $1.1333 a pound in New York after earlier climbing as much as 1.1%.* *The price is up 45% this year, and last month hit the highest in a decade.* *The rally left prices on a level that’s very profitable for producers, said Kody Bessent, chief executive officer for Plains Cotton Growers Inc., the biggest grower group in the top-producing state of Texas.* *Growers are “very excited” about prices and looking forward to next year’s harvest, he said.* *The cotton industry, like most sectors around the world, is dealing with shipping delays, high freight costs, surging fertilizer prices and shortages of things like equipment parts.**Growers also will have to weight those challenges against better prices for other crops. The break-even level for most state cotton farmers to cover costs is between 80-85 cents a pound, he said.* *In other soft commodities, arabica coffee for March delivery slid 1.9% to $2.0245 a pound on ICE for its third straight loss.*
*pakistan cotton market update**sluggish business in cotton market**The local cotton market remained stagnant on Monday and trading volumes remained low.**The spot rate remained unchanged at Rs 15,900 per mind. Polyester fiber was available at Rs 247 per kg.**Cotton analyst Naseem Usman told that the rate of cotton in Sindh has been recorded in the range of Rs 12,500 to Rs 16,500 per mand and in Punjab the rate of cotton has been recorded between Rs 14,200 and Rs 16,500 per mind.**In Sindh, the price of new foot crop was between Rs 5000 and Rs 7,000 per 40 kg.* *Whereas in Punjab, the price of ftti was between Rs 5,800 and Rs 7,300 per 40 kg.**Similarly, the price of cotton in Balochistan remained at Rs 13,800 to Rs 16,200 per mand while the prices of footti were higher in comparison to Rs 6,200 to 79,00 per mand in the other two provinces, Naseem Usman said.**The price of Banola in Sindh was between Rs 1,350 and Rs 2,000 per mind. Whereas in Punjab the price of Banola was between Rs 1650 to Rs 2100 per mind.**600 bales of Lodharan sold for Rs 16200 per mind, 400 bales of Khanpur at Rs 16100 per mind and 200 bales of Fakir Wali sold at Rs 16000 per mind.**Naseem Usman said that despite the fall in the dollar value, cotton prices remained high.**The United States (USA) remained the top export destination for Pakistani products during the first three months of the current financial year (2021–22), followed by China and the United Kingdom (UK).*
*All India Weather Forecast for November 09, 2021**Countrywide weather systems*The Depression over East Central Arabian Sea is moving in a west-northwest direction and the associated cyclonic circulation is extending up to 5.8 km above mean sea level.A trough from the cyclonic circulation associated with the depression is extending up to Northeast Arabian Sea off South Gujarat coast.A Cyclonic Circulation lies over North Coastal Tamil Nadu and South Coast of Andhra Pradesh.A Cyclonic Circulation is persisting over Southeast Bay of Bengal and adjoining South Andaman Sea. Under its influence, a low pressure area is expected to form over southeast Bay of Bengal by tomorrow, November 9. It will become more powerful and move ahead of Tamil Nadu.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain at isolated places occurred over parts of Tamil Nadu, Rayalaseema, South Coastal Andhra Pradesh and Andaman and Nicobar Islands.Moderate rainfall occurred at 1-2 places with isolated light rain over South Interior Karnataka, Lakshadweep and Kerala.Air pollution remained in very poor category in Delhi and NCR.*Possible weather activity during next 24 hours*During the next 24 hours, light to moderate rain with isolated heavy falls very likely over Tamil Nadu, parts of Rayalaseema, Coastal Andhra Pradesh and Andaman & Nicobar Islands.Light to moderate rain may occur over South Interior Karnataka, Kerala and Lakshadweep.
Today evening, the rupee strengthened by 44 paise to close at 74.02 against the dollar.Sensex rises 480 points, then crosses 60,000 markToday the stock market closed sharply. Today, where the Sensex closed at the level of 60545.61 points with a gain of about 477.99 points. On the other hand, Nifty closed at 18068.50 with a gain of 151.70 points. Today, the rise of the stock market can also be considered good because the Sensex managed to get out of 60,000 points and Nifty above 18,000 points.
Rupee opens 20 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 20 paise at Rs 74.25 against the dollar. At the same time, the rupee on Wednesday closed at Rs 74.45 with a gain of 22 paise against the dollar.
Brisk start in, opened up 209 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 208.70 points to open at the level of 60276.32 points
*All India Weather Forecast for November 08, 2021**Countrywide weather systems*An area of low pressure is persisting over East-central Arabian Sea. The associated cyclonic circulation extends up to 5.8 km above mean sea level. It is likely to intensify into a depression by this evening and will continue its motion in a northwesterly direction off the Indian coast.A trough is extending from the above cyclonic circulation up to Northeast Arabian Sea up to South Gujarat Coast.Another cyclonic circulation lies over West Central Bay of Bengal off South Andhra Pradesh and North Tamil Nadu coast.A cyclonic circulation lies over southeast Bay of Bengal. Due to its impact over the same area, a low pressure area is expected to develop, which will move in a northwest direction towards Tamil Nadu coast.*Weather movement across the country during the last 24 hours*During the last 24 hours, moderate to heavy rains occurred over South Coast of Andhra Pradesh and North Coastal Tamil Nadu.Light to moderate rain with isolated heavy falls occurred over remaining parts of Tamil Nadu.Light to moderate rain occurred over some parts of Kerala, South Interior Karnataka, Coastal Karnataka, Konkan and Goa and parts of Madhya Maharashtra.*Light rain fell in Lakshadweep.**Possible weather activity during next 24 hours*During the next 24 hours, heavy to very heavy rain is possible at isolated places over Coastal Andhra Pradesh and Tamil Nadu Coast.Light to moderate rain with isolated heavy rain is likely over remaining parts of Tamil Nadu, South Interior Karnataka and Andaman and Nicobar Islands.Light to moderate rain is possible over Coastal Karnataka, parts of Kerala, Konkan and Goa, Madhya Maharashtra and Lakshadweep.Moderate to strong winds blowing from Northeast direction can improve Delhi's pollution to some extent.
Rupee opens 4 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 4 paise at Rs 74.64 against the dollar. At the same time, on Tuesday, the rupee closed at 74.68 against the dollar with the strength of 19 paise.Sensex opens sharply, rises 252 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 252.26 points to open at the level of 60281.32 points. On the other hand, the Nifty of NSE opened with a gain of 61.20 points at the level of 17950.20 points.
*Cotton prices hit Rs 10,000, ride wave of low yield**Diwali has arrived a little earlier for cotton farmers as prices have touched Rs 10,000 per quintal against Rs 5,000 last year.*The farmers are jubilant over the rising prices as they are likely to fetch decent profits in the next two months.**Although unseasonal rains are worrying farmers in some places, a majority are relieved as they have sold their first pick of the yield during the current season.**Sources said prevailing prices are the highest in the recent past and are likely to go up in the next few weeks depending on quality of the stock. Market analysts said reports about low yields from the cotton producing states of Maharashtra, Karnataka and Madhya Pradesh due to heavy rains and cyclones are reported to have created demand for cotton from Andhra Pradesh and Telangana.**Traders initially offered around Rs 6,500 per quintal at the beginning of the season last month and slowly increased prices. With more players joining the trade, prices jumped to Rs 10,000 per quintal in select markets, including Adoni in Kurnool district.**Sources said* *the textile industry returning to full production levels after nearly two years is also a major reason for increased demand for cotton across the globe.**Interestingly, the Cotton Corporation of India (CCI) has not launched procurement* *operations by setting up purchase centres anywhere in the state due to heavy demand for stocks from traders.*
*All India Weather Forecast for November 03, 2021**Countrywide weather systems*The Low Pressure Area is presently over Comorin and adjoining Sri Lanka coast. This system is expected to emerge over Southeast Arabian Sea within the next 48 hours. Thereafter, the system will move north-northwest and become more marked.The Western Disturbance over Western Himalayas is running as a trough.A trough is extending from a low pressure area to West Central Bay of Bengal off Andhra coast across Tamil Nadu.A Cyclonic Circulation is persisting over North Pakistan and adjoining areas.*Weather movement across the country during the last 24 hours*During the last 24 hours, isolated parts of Odisha witnessed heavy rains.Moderate rains were observed over parts of Tamil Nadu, Andhra Pradesh, Kerala.Light rain was observed over some parts of Karnataka and isolated parts of Northeast India.*Possible weather activity during next 24 hours*During the next 24 hours, moderate to heavy rains are very likely over Tamil Nadu and Puducherry along with some parts of Coastal Andhra Pradesh, Kerala and Telangana.Good rain in Rayalaseema and South Interior Karnataka and Lakshadweep
The rupee today strengthened by 19 paise to close at 74.68 against the dollar.Although the rupee also started with an increase today. The rupee opened against the dollar today with a gain of 4 paise at 74.83. On the other hand, the rupee had closed at a level of 74.87 against the dollar in Monday's trading.Today the stock market closed with a fall.Today where the Sensex closed at the level of 60029.06 points with a fall of about 109.40 points. On the other hand, Nifty closed at the level of 17889.00 points down by 40.70 points.
Rupee opens 2 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 2 paise at Rs 74.84 against the dollar. At the same time, on Monday, the rupee strengthened by 2 paise to close at Rs 74.86 against the dollar.
Sensex opens sharply, rises 213 pointsToday the stock market opened with great momentum. Today the BSE Sensex opened with a gain of 213.04 points at the level of 60351.50 points. On the other hand, NSE's Nifty gained 63.80 points to open at the level of 17993.50 points.
*PAKISTAN COTTON MARKET UPDATE**Spot rate holds present level amid slow trading**Official spot rate was firm on the local cotton market on Monday amid modest trading activity.**The Spot Rate remained unchanged at Rs 15400 per maund. The polyester fiber was available at Rs 247 per kg.**The rate of cotton in Sindh remained between Rs 12500 to Rs 16,000 per maund and the rate of cotton in Punjab was registered at Rs 14,200 to Rs 15,600 per maund.**The rate of the new crop of Phutti in Sindh was remained between Rs 4,500 to Rs 6,500 per 40 kg. While Phutti prices in Punjab were between Rs 5,500 to Rs 7,500 per 40 kg.**Similarly, prices of cotton in Balochistan were remained at Rs 13,800 to 16,000 per maund while Phutti prices were high as compared to other two provinces which were Rs 6,200 to 8,000 per maund, said Naseem Usman.**The rate of Banola in Sindh was between Rs 1,350 to Rs 2,000 per maund. While in Punjab rates of Banola were between Rs 15,50 to Rs 2,000 per maund. The rate of Banola in Balochistan today was Rs 16,000 to 2,000 per maund.**1000 bales of Khair Pur were sold at Rs 14600 to Rs 15200 per maund, 800 bales of Rohri were sold at Rs 14800 to Rs 5200 per maund, 400 bales of Sadiqabad, 200 bales of Kot Sabzal were sold at Rs 16000 per maund, 200 bales of Bahwal Pur were sold at Rs 15200 per maund, 200 bales of Faqeer Wali were sold at Rs 15300 per maund, 800 bales of Yazman Mandi, 1600 bales of Haroonabad were sold at Rs 15000 per maund, 400 bales of Bahawal Nagar were sold at Rs 14300 per maund and 400 bales of Sehar Sultan were sold at Rs 14825 per maund.**Cotton Analyst Naseem Usman told that surging cotton rates in local and global markets are feared to hit Pakistan's textile exports hard as a huge increase in cost of production would drastically compromise their competitiveness.*