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 3 paise at Rs 75.00 against the dollar. At the same time, the rupee on Tuesday closed at Rs 74.96 with a strength of 12 paise against the dollar.
Sensex opens sharply, rises 100 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 99.53 points to open at the level of 61449.79 points. On the other hand, the Nifty of NSE opened with a gain of 29.60 points at the level of 18298.00 points.
*All India Weather Forecast for October 27, 2021**Weather systems made across the country*A Cyclonic Circulation is persisting over East Central Bay of Bengal. A trough is extending from the cyclonic circulation up to Tamil Nadu.A low pressure area is very likely to form over East Central Bay of Bengal in the next 48 hours.Anticyclone lies over western part of Rajasthan.Dry and cold winds are blowing over Northwest and Central India.*Weather movement across the country during the last 24 hours*During the last 24 hours, isolated heavy to very heavy rainfall occurred over parts of South Interior Karnataka and Kerala.Light to moderate rain occurred over parts of Tamil Nadu and Sikkim.Light rain occurred in parts of Assam, Meghalaya, Arunachal Pradesh, Coastal Karnataka, North Interior Karnataka, Goa, Andaman and Nicobar Islands and Gangetic West Bengal, Lakshadweep and Kulsum parts of Jammu and Kashmir.*Probable weather activity during next 24 hours*During the next 24 hours, light to moderate rain with isolated heavy falls at isolated places very likely over Tamil Nadu, Kerala and South Interior Karnataka.Light to moderate rains are possible over Coastal areas of Tamil Nadu, Coastal Karnataka, Andaman and Nicobar Islands and parts of Lakshadweep.Scattered light rain is possible over Sikkim, Sub-Himalayan West Bengal and North East India.Mist and mist and light fog are very likely to occur at isolated places over Indo-Gangetic plains.
*Cotton prices soar to *record high in India on global trends**Projections of tight *supplies later this season leave industry worried*Domestic cotton prices have soared to a record high of ₹63,000 per candy (356 kg) as the global market has surged on low production, rising demand and supply constraints.**On the Intercontinental Exchange (ICE), New York, cotton prices have gained a tad over 50 per cent year-on-year rising to 108.67 cents a pound (₹66,025 a candy).**“Quality cotton in the domestic market costs about ₹65,000,” said PK Agarwal, Chairman and Managing Director, Cotton Corporation of India (CCI), which had procured cotton over the last two years to ensure markets do not drop below the minimum support price (MSP) level.**Ruling above MSP**Currently, raw cotton prices in various markets across the country are ruling above ₹7,000 a quintal against the MSP of ₹5,726 fixed for this year. Prices much above MSP means the CCI will not need to do any market intervention this year, according to Agarwal. **“The prices are good for farmers where private traders and millers are ensuring good remuneration for cotton,” the CCI CMD said.**“Prices are moving up since the cotton balance sheet is tight and ending stocks are lower. Except China, no other country seems to have ample stocks,” said Anand Poppat, a Rajkot-based trader of raw cotton, waste and yarn.**With the quality of the cotton crop reported to be good, he expects Indian offers to soon be at par with global rates. “Indian cotton prices will be near international rates,” said CCI’s Agarwal.**Post-Diwali scenario**Southern India Mills Association (SIMA) Secretary-General K Selvaraj said post-Diwali prices might decline in view of higher arrivals. “Arrivals will flood markets during December-January pushing down prices. But prices are likely to rule around ₹50,000-₹51,000 a candy,” he said.**Cotton Association of India (CAI) President Atul Ganatra said the cotton market is expected to be steady between ₹62,000 and ₹65,000.**According to Major General OP Gulia, CEO, SVP Group that is producing yarn, cotton prices have seen their best and are unlikely to escalate further. “It will stabilise around its current level. There is news of restrictions in China, the US and Britain markets. We will have to wait and watch… That would influence the prices internationally,” he said.**Poppat said cotton prices were surging since the retail pipeline was empty. “There is huge demand for cotton as well as yarn. Speculators in the European Union have taken advantage of this and built open positions,” he said.**Gulia said domestic market demand was huge and yarn was in short supply. “Orders (yarn) are now being booked for three months in advance. The trend will continue for the better part of the year,” he said.**CAI’s Ganatra said cotton mills were running with 30-45 days of stocks.**Exports may dip**Almost every player in the industry is of the opinion that cotton exports could be lower at 50 lakh bales this season (October 2021-September 2022) compared with 75-80 lakh bales last season. “India might export a minimum 50 lakh bales,” said Poppat, while Agarwal put the figures at 40-50 lakh bales.**“Indian cotton exports will be reduced by 35 per cent from 78 lakh bales (last year) to around 45-50 lakh bales this year,” said Ganatra.**Selvaraju said if cotton* *quality turns out to be good as expected, then more could find their way to destinations abroad. “That will make things a little difficult for mills,” he said.**Poppat said exports would lead to tighter and lower ending stocks this season.* *The industry is divided over the carryover stocks for this season, though.**Carryover stocks**SIMA’s Selvaraju said the Committee on Cotton Production and Consumption (CCPC) had pegged the carryover stocks at 120 lakh bales and if additional 10-15 lakh bales of cotton would have been consumed or exported, ending stocks could be 105 lakh bales.**According to estimates of CAI, a trade body, the carryover stocks are estimated at 82.50 lakh bales.**Selvaraju said cotton production this year is estimated to be 360 lakh bales (170 kg) and if the carryover stocks are pegged at 100 lakh bales and imports at 10 lakh bales, the industry would have a total supply of 470 lakh bales.* *“This year, cotton consumption could be 330 lakh bales but it depends on the power situation. In Andhra Pradesh, industries are provided only 50 per cent of their power needs during peak hours,” he said.**Ganatra said production this year is expected to be 360 lakh bales, plus or minus three per cent. “The crop is good in Central and Southern India, but it is lower in the Northern parts,” he said.**Disturbing trend**“The cotton crop is likely to stay at the same level as of last year, at approximately 360 lakh bales (25% of world production). Though the sowing area was lower this year, the yield per hectare has increased from approximately 500 kg per hectare to 750 kg,” Gulia said, adding the quality of cotton is good this year.**Global supply of cotton will be short and prices are unlikely to head south soon, he said.**The emerging market trend does have spinning mills worried. Expecting problems from private traders, who might buy huge stocks of cotton and try to sell during non-peak arrivals season at high prices, SIMA has written to the Prime Minister’s office to order CCI to purchase 40-50 lakh bales.**“CCI can release the stocks regularly at the rate of at least five lakh bales a month to keep unscrupulous traders at bay,” Selvaraju said.*
*PAKISTAN COTTON MARKET UPDATE**Cotton prices depict more strength**Spot rate on Tuesday was increased by Rs 100 per maund by the spot rate committee of the Karachi Cotton Association (KCA) pushing it to Rs 15,300 per maund from Monday's rate of Rs 15,200 per maund.**The local cotton market continued experiencing bullish trend and trading volume remained satisfactory, said Cotton Analyst Naseem Usman while talking to Business Recorder today.**Nevertheless, rate of polyester fibre remained unchanged at Rs 247 per kilogram, he added. The rate of cotton in Sindh remained between Rs 14,400 to Rs 15,500 per maund and the rate of cotton in Punjab was registered at Rs 14,000 to Rs 15,500 per maund. The rate of the new crop of Phutti in Sindh was remained between Rs 4,500 to Rs 6,300 per 40 kg. While Phutti prices in Punjab were between Rs 5,800 to Rs 7,300 per 40 kg.**Similarly, prices of cotton in Balochistan were remained at Rs 13,800 to 15,500 per maund while Phutti prices were high as compared to other two provinces which were Rs 6,200 to 7,800 per maund, said Naseem Usman.**The rate of Banola in Sindh was between Rs 1,400 to Rs 1,700 per maund. While in Punjab rates of Banola were between Rs 1,650 to Rs 2,000 per 40 kilograms. The rate of Banola in Balochistan today was Rs 16,000 to 2,000 per maund.**As per domestic transaction figures, 800 bales of Ghotki were sold at Rs 15,550 per maund, 200 bales each of Khan Pur Mehar and Mir Pur Mathelo also fetched Rs 15,500 per maund, 600 bales of Saleh Pat from Rs 14,800 to 15,000 per maund, 1200 bales of Khairpur from Rs 14,500 to 14,600 per maund, 1600 bales of Rohri from Rs 14,300 to Rs 14,800 per maund, 400 bales of Sarhad fetched Rs 13,000 per maund, 200 bales of Bago Bahar were sold at Rs 15,700 per maund, 400 bales of Khan Pur Mehar at Rs 15,700, 600 bales of Mianwali at Rs 15,500, 600 bales of marrot at Rs 15,500, 400 bales of Fort Abbas at Rs 15,200, 600 bales of Sadiqabad at Rs 15,500, 800 bales of Rahim Yar Khan at Rs 15, 500, 200 bales each of Khanewal and Lodhran at Rs 15, 500, 1400 bales of Haroonabad at 15,200-15,500, 200 bales of Donga Bonga at 15,200-15,500, 800 bales of Faqeer Wali Rs 15, 200, 400 bales of Ahmad Pur East 15, 200, 200 bales of Dharam Wala at Rs 15, 200, 4800 bales of Yazman Mandi at Rs 15, 200, 400 bales of Noor Pur Noranga at Rs 15,000, 400 bales of Layyah at Rs 14,900, 600 bales of Hasil Pur at Rs 14,700-15,200, 200 bales of Vehari at Rs 14, 200, 200 bales of Chichawatni were sold at Rs 14,000 per maund and 400 bales of Bahawalpur were sold at Rs 15, 200 per maund.* *SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771*Smartinfoindia.com*https://wa.me/919111977775*
*Higher prices lure Telangana's cotton farmers to Maharashtra**Cotton farmers of Adilabad are rushing to Maharashtra to sell their produce at Rs 8,000 to Rs 8,500 per quintal while market yards and private traders are offering them Rs 6,500 to Rs 7,000 in the Adilabad market citing high moisture content.**There is a huge demand for cotton in international and national markets but there was low yield this season and private cotton traders are desperate to purchase cotton from farmers to make higher profits. Despite this, only a few farmers turned up to sell cotton at the Adilabad market though farmers were offered Rs 8,020 per quintal on Tuesday.**Market yard officials and the private traders in the state deduct money from the MSP or price they offer if the cotton has more than eight per cent moisture.* *This, farmers allege, is a way of cheating them.**This practice is not prevalent in Pandharkawada and Bhori in Maharashtra, just 50 km from Adilabad, and many farmers head there to sell their cotton. Besides, traders of Maharashtra pay the farmers on the spot.**It is learnt that nearly 40 farmers who brought cotton in vehicles to Adilabad market yard were disappointed with the lower price offered by traders and went to Maharashtra and sold their produce for Rs 8,000 per quintal on the first day of purchases.**Cotton farmers staged protests on Monday at the Adilabad market demanding that the officials take steps to ensure that private traders purchase cotton without measuring moisture content. They alleged that private traders cut large amounts in the price citing high moisture content and offered low prices.**The Adilabad market committee and private traders said they were finding up to 25 per cent moisture content, but they had acted on humanitarian ground and deducted less amount from the total price.**Cotton was cultivated in nearly 10 lakh acres in the erstwhile Adilabad district and farmers expected a good yield but incessant rains damaged the crop.**Senior Congress leader Marsakola Sarengarao of Mamidiguda of Adilabad Rural mandal said middlemen and agents were purchasing cotton from farmers and offering them low prices.**He appealed to the district officials to control the exploitation of farmers by middlemen and traders. He said traders must purchase cotton without measuring moisture content.* *SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771*Smartinfoindia.com*https://wa.me/919111977775*
Today evening, the rupee strengthened by 12 paise to close at Rs 74.96 against the dollar.Sensex rises further, closes up by 383 pointsToday the stock market closed sharply. Today, where the Sensex rose by about 383.21 points to close at 61350.26 points. On the other hand, Nifty closed at 18268.40 with a gain of 143.00 points.
Rupee opens 3 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 3 paise at Rs 75.05 against the dollar. At the same time, on Monday, the rupee closed at Rs 75.08 with a weakness of 19 paise against the dollar.Sensex opened sharply, up 133 pointsToday the stock market opened with great momentum. Today the BSE Sensex opened with a gain of 132.69 points at the level of 61099.74 points. On the other hand, the Nifty of NSE opened with a gain of 42.60 points at the level of 18168.00 points.
*PAKISTAN COTTON MARKET UPDATE**The Spot Rate Committee of the Karachi Cotton Association on Monday increased the spot rate by Rs 200 per maund and closed it at Rs 15200 per maund.**The Spot Rate Committee of the Karachi Cotton Association on Monday increased the spot rate by Rs 200 per maund and closed it at Rs 15200 per maund. The rate of polyester fibre was increased by Rs 5 per kg and was available at Rs 247 per kg.**Cotton Analyst told Business Recorder that the local cotton market remained bullish and trading volume remained satisfactory.**The rate of cotton in Sindh is in between Rs 12000 to Rs 15800 per maund and the rate of cotton in Punjab is in between Rs 14000 to Rs 15700 per maund.**The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 6500 per 40 kg. The rate of Phutti in Punjab is in between Rs 5800 to Rs 7500 per 40 kg. The rate of Banola in Sindh is in between Rs 1400 to Rs 2000 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 2200 per maund. The rate of cotton in Balochistan is in between Rs 13800- 15500 per maund. The rate of Phutti in Balochistan is Rs 6200- 8000 per maund. 1800 bales of Ghotki were sold at Rs 15450 to Rs 15550 per maund, 200 bales of Pano Aqil ,4200 bales of Rahim Yar Khan, 1800 bales of Khan Pur, 1000 bales of Dera Ghazi Khan, 400 bales of Bagho Bahar were sold at Rs 15500 per maund, 200 bales of Sarhad, 200 bales of Mir Pur Mathelo were sold at Rs 15450 per maund, 1200 bales of Mehtab Pur were sold at Rs 14450 to Rs 14500 per maund, 400 bales of Kiandiyaro were sold at Rs 14450 per maund, 200 bales of Sarkand were sold at Rs 14200 to Rs 14300 per maund, 200 bales of Nawab Shah were sold at Rs 13700 per maund, 600 bales of Mir Pur Khas, 600 bales of Sanghar were sold at Rs 11400 per maund, 3400 bales of Sadiqabad, 1000 bales of Lodhran were sold at Rs 15400 to Rs 15500 per maund, 200 bales of Feroza were sold at Rs 15400 to Rs 15500 per maund, 1600 bales of Haroonabad were sold in between Rs 15200 to Rs 15300 per maund, 1600 bales of Faqeer Wali were sold at Rs 15200 per maund, 1600 bales of Yazman Mandi were sold at Rs 15000 to Rs 15300 per maund and 1200 bales of Vehari were sold at Rs 13800 per maund.**Pakistan Textile Competitive inputs value addition can boost economy. Recovering from the pandemic shocks, Pakistan's textile exports are set to grow to $22 billion in FY22. Most of this growth will be driven by the introduction of supportive policies by the government and stabilization of the industry.*
*BANGLADESH : Importers fear further cotton market spiral**Cotton association suggests apparel-makers to negotiate clothing rates with foreign buyers keeping the hikes in mind**Importers do not see any sign that the volatile international cotton market would calm down anytime soon as cotton consumption surges.* *In the face of pricier yarn and fabrics – main raw materials for the country's readymade garments – the importers and textile mill owners at a press conference Monday suggested apparel-makers to negotiate their clothing rates with the foreign buyers.**At a press conference in Dhaka by Bangladesh Cotton Association (BCA), there had been an argument between the textile mill owners and terry towel exporters over lifting the import duty on yarn to rein in the local yarn market.**Mohammad Ayub, president of the local cotton association, gave a presentation on cotton price hikes in the last two months and hinted at spiked cotton consumption in future.* "*We are skeptical whether cotton prices will come down in the future," he said.**He said cotton turns pricier not only for Bangladesh, but also the countries that produce cotton are having problems in getting the apparel raw material. Apart from the supply crunch, mismanagement of logistics such as costlier shipping, container scarcity and congestion at the port are also responsible for the price spike.**"The market is too volatile. It is very uncertain what happens next," Mohammad Ayub, told The Business Standard, after the press conference.**He said cotton prices in the latest hike spiked by 20-25 cent per pound.**"Cotton that cost 90-95 cent per pound two months ago, is now at $1.17 upon the port arrival," he stated.**A fragile confidence among the textile mill owners, apparel manufacturers and terry towel exporters came to the spotlight at the press conference.* *Shahadat Hossain Sohel, chairman of Bangladesh Terry Towel Manufacturers and Exporters Association, called for the lifting of the existing 37% import duty on yarn to rein in the prices.**Opposing this, Monsoor Ahmed, a representative of Bangladesh Textile Mills Association, said if the duty is lifted, local industries will face problems.**Fazlul Hoque, vice-president of Bangladesh Textile Mills Association, told The Business Standard after the press briefing that if the apparel exporters fail to negotiate with the buyers to increase the prices, they will be in trouble as cotton prices are rising in the international market.**-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111977775
*All India weather forecast for October 26, 2021**Countrywide weather systems*A Cyclonic Circulation is persisting over Lakshadweep region.Another Cyclonic Circulation is persisting over South-central Bay of Bengal.A trough is extending from the cyclonic circulation over South-central Bay of Bengal to North-West Bay of Bengal.An Anticyclone is persisting over Western parts of Rajasthan.Northeasterly winds are blowing over Bay of Bengal and South Peninsular India. The Northeast Monsoon is expected to start sometime soon.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain with isolated heavy falls occurred over Tamil Nadu and South Interior Karnataka.Light to moderate rain and snow occurred in isolated parts of Jammu and Kashmir, Gilgit Baltistan, Muzaffarabad, Ladakh and Himachal Pradesh and Uttarakhand.Light to moderate rain and hailstorm occurred over Delhi NCR, Northwest Uttar Pradesh and parts of Haryana and Punjab.Light to moderate rain occurred over Lakshadweep, Coastal Karnataka, Andaman and Nicobar Islands and Gangetic West Bengal.Light rain occurred in Rayalaseema and one or two parts of South Chhattisgarh and Gujarat received very light rain.The minimum temperature has dropped by 2 to 3 degrees over entire Northwest India.*Possible weather activity during next 24 hours*During the next 24 hours, rain and snowfall activities over Western Himalayas will now stop.The weather over Northwest and Central India will also remain dry. The minimum temperatures are likely to drop further over parts of Northwest and Central India.Light to moderate rain with isolated heavy falls may occur over Coastal Karnataka, South Interior Karnataka, Tamil Nadu and parts of Kerala.Light rain may occur at one or two places over Rayalaseema, Coastal Andhra Pradesh and Andaman and Nicobar Islands.Light to very light rain may occur over some parts of Sub-Himalayan West Bengal, Sikkim and eastern parts of Bihar.*-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111977775
Rupee depreciates against dollar, 8 paise brokenRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 8 paise at Rs 74.97 against the dollar. At the same time, on Friday, the rupee closed at Rs 74.89 with a weakness of 3 paise against the dollar.Sensex opens sharply, rises 193 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 192.71 points to open at the level of 61014.33 points. On the other hand, the Nifty of NSE opened at the level of 18151.00 points with a gain of 36.10 points.
*Pink bollworm infestation: impact to be re-evaluated as confidence in cotton sales estimates**The state government on Saturday ordered a re-evaluation of the damage caused to the cotton crop due to pink bollworm infection after doubts were expressed over the field inspection report.**Sources said that the trend of arrival of cotton in various mandis of southern districts of Punjab was not indicative of major crop damage at this stage.**“Preliminary Girdavari inputs submitted last week claimed that standing crops in 4 lakh acres of 7 lakh acres were badly affected. However, the sale of raw cotton in the mandis is not as per the loss estimates. The government is sensitive to the concerns of farmers, but there was a need for re-evaluation of cotton crop losses for objective financial assistance to the affected persons,” said a cabinet minister for development requesting anonymity.**As per the reports of district officials, the major cotton growing districts of Bathinda and Mansa suffered 76-100% loss of productivity. It was also stated that more than 80% of the total area of both the districts was under attack of serious pests. The report said that the pockets of Sangrur and Muktsar had limited impact.**However, official figures do not indicate a large difference in cotton sales over the same period of 2020 until the first three weeks of October, when bumper yields were reported.**In the 2020 Kharif season, about 50 lakh quintals of cotton were produced and almost half of the produce was procured by the Cotton Corporation of India (CCI), a central agency.**Rajnish Goyal, State Coordinator of Punjab Mandi Board Cotton said that till October 21, 2020, 6.01 lakh quintal cotton has arrived in the mandis of seven districts. * * This year 5.28 lakh quintal raw cotton was purchased in the same period. He said that this season the price of cotton has touched an all-time high of Rs 8,380 per quintal.**Cotton was cultivated in an area of 3.3 lakh hectares this year, which is 17% higher than the Kharif season of 2020-21. The yarn sector expects Punjab to reach last year's production of 50 lakh quintals.**This year till October 21, 1.08 lakh quintal cotton has been procured in the worst affected district of Bathinda, while 1.60 lakh quintal cotton was sold by farmers in the mandis in the corresponding period of last season.**As of Thursday, sales of 1.19 lakh quintals were recorded in Mansa while 1.46 lakh quintals in the district. In the corresponding period of last Kharif season, only 1,637 quintals of arrivals were reported by various procurement centers.**Chandrakant Garg, vice-president of Mansa Arhti Association, said that the cotton rate may even reach Rs 9,000 per quintal as there is a great demand for yarn in the international market. “The real impact of the pest attack can be known by the end of November, when the cotton harvesting is over, farmers are taking their produce to the market,” said Garg, a cotton mill owner.*
*All India weather forecast for October 25, 2021**Countrywide weather systems*A Western Disturbance is persisting over North Pakistan. The Induced Cyclonic Circulation lies over Central Pakistan and adjoining Punjab.From the cyclonic circulation over Punjab, a trough is extending from western part of Rajasthan up to South Sindh.A Cyclonic Circulation lies over Lakshadweep.Another Cyclonic Circulation is persisting over South Bangladesh.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred at many places over Jammu and Kashmir, Gilgit Baltistan, Muzaffarabad and Ladakh with snowfall at a few places. Snowfall accompanied by heavy rains was observed at some places in Himachal Pradesh.Light to moderate rain with isolated heavy falls occurred over Tamil Nadu, South Interior Karnataka and South Kerala.Light to moderate rain accompanied by heavy rain occurred at one or two places over Northwest Rajasthan, Coastal Karnataka and Andaman and Nicobar Islands.Light rain occurred over parts of Punjab, Haryana, North Interior Karnataka, remaining parts of Kerala, Lakshadweep, Sikkim and Sub-Himalayan West Bengal.*Possible weather activity during next 24 hours*During the next 24 hours, light to moderate rain at a few places is very likely to occur over Punjab.Light to moderate rain with snow and heavy rain may occur at isolated places over parts of Jammu and Kashmir, Himachal Pradesh and Ladakh. Sporadic rain and snow may occur over Uttarakhand.Light to moderate rain with heavy to very heavy falls at isolated places over parts of Karnataka, Tamil Nadu, Kerala, Rayalaseema and Coastal Andhra Pradesh and Andaman & Nicobar Islands.Light rain is very likely over Haryana, Northwest and East Rajasthan, parts of Northwest Uttar Pradesh, Lakshadweep, Sub-Himalayan West Bengal and Sikkim.
Cotton production may decline but prices will remain firm: JAU reportCotton production may see a decline in India this year after damage to the crop due to heavy rain in Maharashtra Gujarat and Madhya Pradesh in September and an attack by pink bollworm, though robust global demand will keep the prices firm, according to a price forecast report released by the Junagadh Agricultural University (JAU) in Junagadh on Friday.The report released by the WTO Cell of the Department of Agricultural Economics (DAE) of the JAU underlined the fact that cotton acreage in the country declined to around 124 lakh hectare (lh) in Kharif season 2021-22 as against 131 lh in 2020-21 due to variations in advent of monsoon in some of the key regions of this crop. This, coupled with heavy rains in September may lead to a decline in production this season, the report said.“This year, at country level, cotton production is estimated 362 lakh bales (First Advanced Estimate, dt. 21-09-2021) slight more than the last year (354 lakh bales). But the torrential rain received in the last week of September, 2021, in Maharashtra, Madhya Pradesh and Gujarat has damaged the crop to large extent, besides huge damage due to pink bollworm is also feared, (this) may result in lower production than last year,” the report prepared by DAE’s associate research scientist Maganlal Dhandhalya and his team stated.Citing the United States Department of Agriculture (USDA), the JAU report states that global cotton production is projected at 1,531 lakh bales in 2021-22, compared to 1,439 bales the previous year. However, the consumption of cotton is expected to remain 1,588 lakh bales — 57 lakh bales more than last year. This, the JAU report said, is expected to keep the price of cotton firm in world market in the current year.The price range forecast by the JAU report is higher than Rs 6,025 per quintal fixed by the Central government as the minimum support price (MSP) for long-staple Bt cotton variety. “If export opportunities and world consumption continue to remain better, there is some chance that, cotton price may go up in future,” the JAU report adds.
Good rate for cotton cheers north Maharashtra farmersThe new season haskicked off on a good note for over 3.5 lakh cotton growers from North Maharashtra as the sale price of raw cotton is significantly higher than the last season.Cotton crop is grown on over 9.30 lakh hectares in Jalgaon, Dhule and Nandurbar districts. Sis The cotton season starts in October and stretches up to August-September next year.“This season, the cotton growers are fetching on an average Rs 7,000 for one quintal of raw cotton. Last season, the sale price was below Rs 5,000 a quintal. The Covid pandemic had impacted both, the cotton farmers and traders, last year. Now things are fast improving,” Pradeep Jain, president of Khandesh gin/press factory owners association says.There are 150 ginning units in these three districts, which buy bulk of the raw cotton from the farmers. These units then process them to make cotton bales, which are then sold to various cotton textile spinning mills, multinational firms, etc. They buy the raw cotton directly through farmers or through auctioning in the mandis in the three districts.The ginning units of the region make over 25 lakh bales during the season and the demand for cotton bales of North Maharashtra is high because of the superior quality.“In the last season, the demand for cotton bales was sluggish as like many other sectors, the textile sector was hit hard due to the pandemic. The scenario has changed this season and the sector is witnessing an upswing in demand. Our feedback is that the domestic consumption of cotton bales is around 3.60 crore at present, which is over 20-25% higher during the corresponding period last year,” added Jain.According to him, the Centre’s recent announcement of the Production-Linked Incentive (PLI) scheme would have a positive impact on the prices of raw cotton.Pravin Koli, a cotton farmer from Jalgaon, said they were forced to sell the produce at a cost lower than the production cost last year. “The mood among the cotton farmers is upbeat as the prices are high. This will help some farmers make up for the losses they suffered due to crop damage after heavy rainfall last month,” he said.
Today evening, the rupee depreciated by 3 paise to close at Rs 74.89 against the dollar.Sensex falls further, drops 102 pointsToday the stock market closed with a fall. Today, where the Sensex fell by about 101.88 points, closed at the level of 60821.62 points. On the other hand, Nifty closed at 18114.90, down 63.20 points. Apart from this, a total of 3,448 companies were trading on the BSE today, out of which 1,327 shares rose and 1,967 shares closed down.
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 75.82 against the dollar. At the same time, on Thursday, the rupee closed at Rs 74.86 with the strength of 1 paise against the dollar.
Sensex opens sharply, rises 216 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 215.88 points to open at 61139.38 points. On the other hand, the Nifty of NSE opened with a gain of 58.40 points at the level of 18236.50 points.
*Stable trend on cotton market**The local cotton market on Thursday remained bullish and trading volume remained satisfactory. The rate of cotton in Sindh is in between Rs 12000 to Rs 15000 per maund and the rate of cotton in Punjab is in between Rs 14500 to Rs 15200 per maund.**The Spot Rate remained unchanged at Rs 14700 per maund. The polyester fiber was available at Rs 242 per kg.**Cotton Analyst Naseem Usman told that the rate of the new crop of Phutti in Sindh was in between Rs 4000 to Rs 6300 per 40 kg. The rate of Phutti in Punjab is in between Rs 5800 to Rs 6700 per 40 kg. The rate of Banola in Sindh is in between Rs 14000 to Rs 2000 per maund. The rate of Banola in Punjab is in between Rs 14000 to Rs 2200 per maund. The rate of cotton in Balochistan is in between Rs 14000- 14800 per maund. The rate of Phutti in Balochistan is Rs 6000- 7300 per maund.**1200 bales of Dherki were sold at Rs 15000 to Rs 15200 per maund, 400 bales of Ghotki were sold at Rs 15000 per maund, 600 bales of Mir Pur Mathelo were sold at Rs 15200 per maund, 400 bales of Khan Pur Mehar, 800 bales of Sadiqabad were sold at Rs 15000 per maund, 1200 bales of Saleh Pat were sold at Rs 14300 to Rs 14500 per maund, 1600 bales of Khan Pur were sold at Rs 13900 to Rs 14500 per maund, 800 bales of Rohri were sold at Rs 14200 to Rs 14500 per maund, 2800 bales of Rahim Yar Khan were sold at Rs 15000 to Rs 15100 per maund, 400 bales of Khan Pur were sold at Rs 15100 per maund, 1400 bales of Yazman Mandi were sold at Rs 14800 per maund, 800 bales of Mian Wali were sold at Rs 14600 to Rs 14700 per maund, 1200 bales of Fort Abbas were sold at Rs 14600 per maund, 800 bales of Haroonabad were sold at Rs 14500 to Rs 14600 per maund, 400 bales of Faqeer Wali were sold at Rs 14600 per maund, 200 bales of Hasil Pur were sold at Rs 14600 per maund.*