Pink bollworm infestation: Girdawari indicates 70-100% crop loss in Bathinda, MansaSpecial girdawari or harvest inspection of the south Malwa region states 70-100% damage of the cotton crop due to pink bollworm attack in Bathinda and Mansa districts.These two worst-hit districts comprise almost half of the total of 3.25 lakh hectares under cotton cultivation in Punjab this year.Bathinda has the largest area of 96, 000 hectares of Punjab under the cash crop whereas cotton was sown on 65,000 hectares in Mansa. In 20-21 kharif season, Punjab had produced about 50 lakh quintals of raw cotton and Bathinda had led with 14 lakh quintals. With 11.79 lakh quintals, Mansa was the third cotton-producing district. But the official assessment hints at a highly disappointing season for farmers this year with a drastic fall of production mainly in the two districts.District authorities are compiling detailed reports for submission to the state government for its consideration of announcing compensation to affected cotton growers.Mansa deputy commissioner Mohinder Pal said according to crop loss assessment dispatched on Monday evening, 76-100% cotton was found damaged in all three subdivisions.“Our teams extensively examined the fields to assess crop loss. Impact of pink bollworm was found severe in the entire district,” he said.Chief agriculture office of Bathinda Manjit Singh more than 70% ready-to-harvest was found damaged in the district.Bathinda DC Arvind Pal Sandhu said it will take another two days to submit a report to the state government.DC of Fazilka, another major cotton producer of Punjab, Babita Kaler said no input of the pink bollworm attack was reported in the district till Monday.Some pockets of villages in Lambi and Gidderbaha in Muktsar and parts of Sangrur district were also spotted with the pest.Cotton is an economic lifeline of the semi-arid region of southern Punjab where it is a traditional kharif crop.Bhartiya Kisan Union (Ekta-Ughrahan) is spearheading an agitation demanding a compensation of ₹60,000 per acre to cotton-growers and ₹30,000 to farm labourers as the pest attack has hit the rural economy of the cotton belt.Since October 5, they have been holding an indefinite dharna outside the residence of state finance minister Manpreet Singh Badal at Muktsar’s Badal village.Farm experts say other major cotton growing states, such as Karnataka and Maharashtra, have been reporting PBW over large areas since 2015, it is for the first time that Punjab faced a pest attack of this magnitude.Officials of the state agriculture department said PBW attack was first spotted in Bathinda’s Jodhpur Romana village in 2018. Owing to poor farm practices, the unchecked population of the pest expanded in Bathinda and the adjoining district of Mansa.Also, the pest attack is attributed to PBW infestation in the adjoining state of Haryana where 9 cotton-growing districts faced attack this season.SK Verma, head of Sirsa-based Central Institute for Cotton Research, said stakeholders need to join hands ahead of the next sowing season to tackle the issues related to cotton production in a holistic way.“Cotton growers should ensure that fields are cleared of the residue and up to 20 pheromone traps should be set up in an acre to detect a population of the deadly pest,” he said.
ADILABAD: Distressed cotton farmers who suffered crop damages due to heavy rains are now pinning hopes on the price to be offered for cotton in markets so that it could compensate for the losses they incurred in the old Adilabad district.Farmers started cotton picking and drying in sunlight in front of their houses before they sell the cotton to the private cotton traders or Adilabad branch of CCI (Cotton Corporation of India).Already the cotton farmers invested huge money in the crop and spent a lot of money on seeds, fertilizers and pesticides this season. Incessant rains forced the farmers to go for pesticide spray and applying fertilizers to the standing plants for more times after heavy rains and floodwater inundating the standing crops. The Central government offered an MSP of Rs 5,885 per quintal earlier but is offering Rs 6,025 this year. However, private cotton traders are likely to offer more than the MSP if farmers are willing to sell their produce.*This year, the Central government has added Rs 200 to the previous MSP of Rs 5,885. It is said that private traders are desperate to purchase cotton from farmers in the changed scenario as far as demand for cotton in the international and national market is concerned.However, cotton farmers are now worried over the possible exploitation of private traders in the name of high moisture content in the produce and cut huge amounts in the price and thus farmers will again be at the receiving end though the actual price would be higher.As per the market norms, 8-12 percent moisture content in the cotton produce would be accepted and a good price should be offered to the farmers. But the chances are high for moisture content percent more than 12 percent due to prevailing bad and cloudy weather conditions.The officials concerned are expecting nearly 28 lakh quintals of cotton produce this season in Adilabad district. However, it takes 15 more days for the arrival of cotton to the markets though cotton-picking has already started in some places. Naitham Nagorao of Lokari village in Adilabad rural mandal said he had suffered a lot in terms of crop damage following the rains and now they were pinning hopes on a good price for the cotton.Tags: cotton hiked msp, cotton moisture content, cotton farmers distressed, rain damages cotton
Rupee opens 4 paise stronger against dollar Rupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 4 paise at Rs 75.32 against the dollar. At the same time, on Monday, the rupee weakened by 37 paise to close at Rs 75.36 against the dollar.Strong opening in Sensex, opened up 60 pointsToday the stock market opened with great momentum. Today the BSE Sensex opened with a gain of 61.93 points at the level of 60197.71 points. On the other hand, the Nifty of NSE opened up by 24.30 points at the level of 17970.30 points.
*PAKISTAN COTTON MARKET UPDATE**Falling trend on cotton market**The Spot Rate Committee of the Karachi Cotton Association (KCA) on Monday decreased the spot rate by Rs 200 per maund and closed it at RS 14400 per maund.**The Spot Rate Committee of the Karachi Cotton Association on Monday decreased the spot rate by Rs 200 per maund and closed it at RS 14400 per maund. The Polyester Fibre was available at Rs 225 per kg.**Cotton Analyst Naseem Usman told that the local cotton market remained easy and trading volume remained good.**The rate of cotton in Sindh is in between Rs 12500 to Rs 14500 per maund and the rate of cotton in Punjab is in between Rs 14400 to Rs 14700 per maund.**The rate of the new crop of Phutti in Sindh was in between Rs 5200 to Rs 6100 per 40 kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 6400 per 40 kg. The rate of Banola in Sindh is in between Rs 1500 to Rs 1800 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 2000 per maund. The rate of cotton in Balochistan is in between Rs 13800- 14200 per maund. The rate of Phutti in Balochistan is Rs 5900- 7000 per maund.**200 bales of Saleh Pat were sold at Rs 14300 per maund, 800 bales of Rohri were sold at Rs 14100 to Rs 14200 per maund, 200 bales of Karoondi, 200 bales of Rani Pur, 200 bales of Rasoolabad, 200 bales of Sarkand, 600 bales of Sui Gas were sold at Rs 14000 per maund, 400 bales of Sarhari were sold at Rs 13400 per maund, 200 bales of Shahdad Pur were sold at Rs 12800 per maund,1200 bales of Mian Wali were sold at Rs 14500 to Rs 14800 per maund, 1200 bales of Shujabad were sold at Rs 14300 to Rs 14800 per maund, 1000 bales of Khan Pur East were sold at Rs 14300 to Rs 14700 per maund, 200 bales of Mian Channu were sold at Rs 14700 per maund, 600 bales of Sadiqabad were sold at Rs 14600 per maund, 200 bales of Rahim Yar Khan, 400 bales of Marrot were sold at Rs 14500 per maund, 2800 bales of Yazman Mandi, 200 bales of Lodhran, 2200 bales of Haroonabad were sold at Rs 14200 to Rs 14300 per maund, 1200 bales of Hasil Pur were sold at Rs 14000 to Rs 14200 per maund.*
*All India Weather Forecast for October 12, 2021**Weather systems made across the country*Dry winds from West and North-West direction are blowing over most parts of North West Central and East India. Conditions are favorable for withdrawal of Monsoon from Gujarat, Chhattisgarh, most parts of Madhya Pradesh, Jharkhand, Bihar, parts of Maharashtra, Odisha and some more parts of West Bengal during next 24 hours.The cyclonic circulation is over East-central Arabian Sea extending over 5.8 km above sea level and is sloping towards southwest with elevation.Another Cyclonic Circulation lies over North Andaman Sea and adjoining region extending up to 5.8 km above mean sea level. Under its influence, a low pressure area is very likely to form over the same area during next 24 to 48 hours. It is expected to become more marked and later move in west northwest direction towards South Odisha and North Andhra Pradesh during 2-3 days.The East West Trough is extending from a cyclonic circulation over North Andaman Sea to a cyclonic circulation over East Central Arabian Sea across Coastal Andhra Pradesh, South Telangana, North Interior Karnataka and South Maharashtra.*A cyclonic circulation is persisting over Central Pakistan and adjoining areas.**Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain occurred at isolated places over Kerala, Tamil Nadu, Coastal Andhra Pradesh and Gangetic West Bengal.Light to moderate rain occurred over Andaman and Nicobar Islands, Coastal Andhra Pradesh, remaining parts of Tamil Nadu, Interior Karnataka, Madhya Maharashtra, Konkan and Goa, South Gujarat and Jammu and Kashmir.Light rain occurred at isolated places over Lakshadweep, Rayalaseema, West Madhya Pradesh, Northeast India and Southeast Rajasthan.*Probable weather activity during next 24 hours*During the next 24 hours, light to moderate rains with isolated heavy falls are very likely over Andaman and Nicobar Islands, Tamil Nadu, Andhra Pradesh, Kerala and Coastal Karnataka.Light to moderate rain may occur over remaining parts of Tamil Nadu, Lakshadweep, Interior Karnataka, Madhya Maharashtra, Konkan and Goa and parts of Jammu and Kashmir, Gilgit-Baltistan and Muzaffarabad.Light rain is possible over West Bengal, parts of Odisha, Southwest Madhya Pradesh, parts of South Gujarat and isolated parts of Uttarakhand, Himachal Pradesh and Northeast India.
*ICE COTTON SUMMARY**Cotton futures slip on firm dollar, focus on WASDE report**ICE cotton futures dipped on Monday, as the dollar ticked up and market participants awaited a monthly supply-and-demand report from the US Department of Agriculture (USDA).**Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi, said investors are pausing ahead of the report tomorrow, as most of the recent move higher has been caused by perceived or real shortages in China, which needs to be confirmed.**The USDA's monthly World Agricultural and Supply Demand Estimates (WASDE) report is due at 12:00 p.m. EDT on Tuesday.**Its weekly export sales report last week showed a dip in net sales. However, China has been the top buyer of US cotton in recent weeks, sparking a rally in cotton prices.**Last week, the cotton contract struck its upper limit twice, and Friday's high was an all-time peak for the December contract.**The dollar strengthened to hold near a recently touched one-year peak, making the natural fiber more expensive for customers holding other currencies, potentially hurting demand.**"The two markets that cotton follows sometimes are crude oil and copper and both of them are up, so that's part of the reason that cotton has come back sharply today from its lows, so that's a pretty good rally," Varner said. Total futures market volume fell by 27,334 to 30,702 lots. Data showed total open interest fell 2,055 to 287,573 contracts in the previous session.*
Today evening, the rupee depreciated by 37 paise to close at Rs 7.36 against the dollar.Today the stock market closed sharply.Today, where the Sensex closed at the level of 60135.78 points with a gain of about 76.72 points. On the other hand, Nifty closed at the level of 17946.00 points with a gain of 50.80 points. Apart from this, a total of 3,592 companies were trading on the BSE today, out of which 1,958 shares rose and 1,473 shares closed down.
Rupee collapses against dollar, opens weak by 14 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 14 paise at Rs 75.12 against the dollar. At the same time, on Friday, the rupee closed at a level of 74.98 with a fall of 21 paise against the dollar.Poor start in the Sensex, falling 128 points to open Today the stock market opened with a fall. Today the BSE Sensex fell by about 127.89 points and opened at the level of 59931.17 points. On the other hand, the Nifty of NSE opened at the level of 17875.20 points with a fall of 20.00 points. Today, trading started in a total of 1,839 companies in the BSE, out of which 1,287 shares opened up and 413 fell.
The prices of mustard oil and other edible oils will come down, the government has taken these big steps in the festive season.* In order to control the rise in the prices of edible oils, the central government has imposed stock limits on oilseeds and edible oils. This decision of stock limit will be applicable till 31 March 2022. The government has also suspended futures trading of mustard oil and oilseeds in NCDEX. This decision of the government can prove helpful in controlling the inflation of edible oils. It is believed that due to non-increasing prices, consumers will get relief in the festive season.In fact, due to the rise in the price of edible oils in the global market, imported edible oil is becoming costlier, which has badly affected the domestic commodity market. During the last year, the price of edible oils has registered a rise of more than 46 percent. A multi-pronged strategy was formulated to control this inflation of edible oils. Under this, earlier an attempt was made to rationalize the import duty of edible oils. Apart from this, all the parties involved in this business will have to declare their stock information themselves, for which a separate web portal has also been started.**In the notification issued to fix the stock limit of edible oils and oilseeds, the states and union territories have been empowered to prepare their available stock and consumption pattern. The exporter shall be exempted from this provision whose stock is kept for export with a refinery, mill owner, oil extractor, wholesaler, retailer or dealer. The same provision will be applicable for importers as well. The stock kept more than the prescribed limit will have to be declared on the portal of the Public Distribution Department.*Mustard oil increased by 43 percent in one year*According to the Ministry of Consumer Affairs, the price of soybean oil in the domestic commodity market on October 9, 2021 is Rs 154.95 per kg, as against Rs 106 per kg a year ago. Similarly, the price of mustard oil has increased by 43 per cent to Rs 184 per kg from Rs 129 a kg a year ago. The price of vegetable oil has increased from Rs 95.5 per kg to Rs 136.74. It is known that 60 percent of the domestic consumption of edible oils is met by imports.
*Gujarat govt to procure soybean from farmers at MSP for the first time**As soybean acreage has gone past a record two lakh hectares in Gujarat, the state government has decided to procure this oilseed for the first time from farmers at the minimum support price (MSP) of Rs 3,950 per quintal. With this, soybean becomes the second oilseed and seventh crop to be procured by the government.**“This will be for the first time that the government is procuring soybean from farmers of Gujarat at MSP,” said a government official.**The Gujarat State Civil Supplies Corporation Limited (GSCSCL), an undertaking of the state government, on Saturday issued an advertisement announcing that the state government will procure green gram, black gram and soybean in Kharif marketing season 2021-’22 at MSP Rs 7,275, Rs 6,300 and Rs 3,950 respectively, fixed by the central government for this season.**“The state government will procure green gram, black gram and soybean at minimum support price through the Gujarat State Civil Supplies Corporation during the Kharif marketing season 2021-22 to ensure that farmers get remunerative prices for their crops,” the advertisement stated.**Farmers who want to sell their soybean to the government can register on the i-Kisan portal with the help of village computer entrepreneurs of their respective village at the nearest Agricultural Produce Market Committee (APMC). The registration window will be open from October 11 and till the end of this month.**Agriculture Minister Raghavji Patel confirmed the government decision an said that he would elaborate on the subject on Monday.**Under its price support scheme (PSS), the Central government makes physical procurement of important crops directly from farmers to protect them from price volatility in the open market. Such procurements are generally done through National Agricultural Cooperative Marketing Federation of India Limited (Nafed), the apex cooperative marketing body of the country, as well as through Food Corporation of India Small Farmers Agribusiness Consortium and National Cooperative Consumers’ Federation of India Limited.*
*All India Weather Forecast for October 11, 2021**Weather systems made across the country*Due to continuous dry winds from west and northwest direction, conditions are favorable for withdrawal of Southwest Monsoon from Gujarat, Chhattisgarh and entire Madhya Pradesh, Jharkhand, Bihar and parts of Maharashtra, Odisha and West Bengal during next 24 hours. Huh. .The Cyclonic Circulation lies at 5.8 km above mean sea level over North Andaman Sea and adjoining areas. Under its influence, a low pressure area may form from this area during the next 24 to 48 hours. It is very likely to intensify further and move west-northwestwards towards South Odisha and North Andhra Pradesh coast in next 4 to 5 days.The cyclonic circulation is over East-central Arabian Sea extending up to 4.5 km above sea level and sloping towards South-West with elevation.A Cyclonic Circulation lies over Central Pakistan and adjoining areas.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain at isolated places occurred over South Gujarat, parts of Madhya Maharashtra, Goa, Coastal Karnataka and Telangana.Light to moderate rain occurred over Coastal Odisha, Andaman and Nicobar Islands, Kerala, Interior Karnataka, parts of Marathwada, remaining parts of Telangana, Andhra Pradesh and parts of Assam.Light rain occurred at isolated places over Gujarat, Gangetic West Bengal, Sikkim, remaining parts of Assam, Lakshadweep and South Rajasthan.*Probable weather activity during next 24 hours*During the next 24 hours, isolated heavy to very heavy rain very likely over Andaman & Nicobar Islands, parts of Karnataka, Konkan & Goa, Tamil Nadu, Lakshadweep and Kerala.Light to moderate rain may occur at isolated places over Coastal Andhra Pradesh, Rayalaseema, parts of Telangana, South Madhya Maharashtra and Marathwada and South Gujarat.Light rain is possible in isolated parts of Northeast India, Gangetic West Bengal, Coastal Odisha, Gilgit-Baltistan, Muzaffarabad and Jammu and Kashmir.The day will remain warm over western parts of Rajasthan and Kutch region of Gujarat. And the temperature there can remain between 38 to 39 degrees.*-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111677774
Cotton prices may stay way above minimum support levels in 2021-22 cotton yearStrong re bound in post-Covid-19 demand and bullish sentiments due to tight supplies are expected to keep Indian cotton prices way above the government set minimum support price levels in 2021-22 cotton year (October-September). Along with cutting India’s cotton exports, high cotton prices will reduce the central government’s procurement budget for cotton to a miniscule amount from the Rs 55,000 crore spent collectively on cotton procurement during the previous two cotton seasons, said trade and industry veterans at a webinar organized by Cotton Association of India (CAI), the apex trade body of cotton.“During the 2019-20 and 2020-21 seasons, Cotton Corporation of India (CCI) had spent a total of Rs 55,000 crore and procured 2 core and 7 lakh bales. As the cotton prices are currently ruling about 30% to 40% above the MSP, our intervention may not be required during 2021-22,” Pradeep Agarwal, chairman of CCI, the public sector undertaking of ministry of textiles.The MSP of cotton for 2021-22 season for long staple cotton is Rs 6025/quintal.According to Agarwal, cotton production in 2021-22 is expected to be between 355-360 lakh bales, which is almost like last year's production of 355 lakh bales despite reduction in area sown under cotton from 133 lakh hectare in the previous year to 125 lakh hectares in the current year.The global outlook for cotton has been bullish due to lower ending stock of the US, which is keeping cotton prices on ICE (International Cotton Exchange) strong. Sumeet Mittal, general manager (cotton) Louis Dreyfus Company said. “Production outlook for major producing countries is not looking good. Cotton commodities, as compared to other soft commodities, will have a better run in 2021-22.”Domestic demand for cotton from the spinning mills is strong due to good margins and robust export demand. Dhiraj Khetan, managing director Sri Salasar Balaji Agrotech said, "Despite high cotton prices, mills are expected to buy aggressively as the demand and consumption is expected to be stronger than the supply situation.”Arun Sekhsaria, director, DD Cotton said, "By November/December, when the daily arrival figures will hit 2 lakh bales/day, some pockets of the country may need CCI intervention.”However, due to strong demand, the trade expects farmers to hold on to the crop in case prices come under pressure. Mahesh Sharda, partner, Deen Dayal Purushottam Lal, said, "The market is well supported. Farmers will pull back if prices go down as they have seen price level of Rs 7000/quintal. The mills would like to go a little long as they had good profit, while the demand for cotton from MNCs indicates good buying internationally also. I think the CCI may not be able to do operations this year, except may be in Telangana.”
Today evening, the rupee depreciated by 21 paise to close at Rs 74.98 against the dollar.Stormy rise in Sensex, then closed above 60,000 markToday the stock market closed with a lot of momentum. Today, where the Sensex closed at the level of 60059.06 points with a gain of about 381.23 points. Today the Sensex was able to close above the 60,000 mark after several days. On the other hand, Nifty closed at the level of 17895.20 points with a gain of 104.90 points.
Textile Ministry signs agreement to promote sustainable cotton cultivationThe project, in collaboration with the German Federal Ministry for Economic Cooperation and Development, aims to improve sustainable cotton yield by 10% in four States, including TamilnaduThe Ministry of Textiles and Deutsche Gesellschaft fur InternationaleZusammenarbeit (GIZ) signed an agreement on Thursday to implement a project on sustainability and value addition in the cotton economy.An official press release said the project aims to increase the volume of cotton production on 90,000 hectares, involving 1.5 lakh farmers in four States -- Maharashtra, Gujarat, Madhya Pradesh, and Tamil Nadu. The aim is to improve yield by 10%.As part of the Indo-German Development Cooperation Framework, the German Federal Ministry for Economic Cooperation and Development (BMZ) has collaborated with the Ministry of Textiles (MoT), supported by the Ministry of Agriculture and Farmers Welfare (MoAFW).Darshna Vikram Jardosh, Minister of State for Textiles, said India is the largest producer of cotton, and the second-largest consumer of cotton (nearly 303 lakh bales a year). The GIZ project will enhance employment and women empowerment and promote sustainable cotton growing practices.U.P. Singh, Secretary, Ministry of Textiles, said the project will follow a “shelf to field” approach and work to create a pull factor for improved market access for farmers for cotton grown through sustainable methods.The Textile Ministry will constitute a steering committee to review and guide the project which will be implemented through nodal officers in the four States. The Ministry will take part in international textile conferences organised by GIZ and promote the sustainable cotton grown in India among consumers.
Rupee breaks 34 paise against dollar, opens at 75.12Rupee has started with weakness today against the dollar in the foreign exchange market. The rupee today opened at 75.12 with a loss of 34 paise against the dollar. On the other hand, the rupee was strengthened against the dollar in yesterday's trade. The rupee had gained 20 paise to close at 74.78 against the dollar.Sensex opens sharply, rises 272 pointsToday the stock market opened with great momentum. Today the BSE Sensex opened with a gain of 271.90 points at the level of 59949.73 points. On the other hand, the Nifty of NSE opened with a gain of 97.20 points at the level of 17887.50 points.
Cotton exports could fall as local demand rises: ReportIndia's cotton exports could fall by 36% in 2021-22 from a year ago, as domestic demand has been rising amid limited supplies after carry-forward stocks nearly halved from a year ago, industry officials said on Thursday.Lower exports from the world's biggest cotton producer could support global prices, which jumped to their highest levels in a decade on strong demand from top consumer China."Exports could go down to 5 million bales in the new season since local demand has been rising," Sumeet Mittal, general manager for India cotton business at Louis Dreyfus Company, said in a webinar organised by the Cotton Association of India.The country exported around 7.8 million bales in 2020-21, the highest in eight years, as the state-run Cotton Corporation of India continuously sold from its warehouses keeping Indian prices competitive, he said.Higher exports and local demand have depleted carry forward stocks to 6.5 million bales in the new season that started on October 1, from 12.5 million bales a year ago.Good demand from local mills and a rally in global prices have lifted domestic prices to a record high this week, tapering the advantage India had over other suppliers."Good quality cotton is not available right now for exports. From November, supply of good quality cotton would improve, and prices may come down because of supply pressure," said a Mumbai-based dealer with a global trading firm.Leading cotton producing states including Gujarat, Maharashtra, Telangana and Andhra Pradesh received heavy rainfall in September. The production in the new season could fall as rainfall badly affected early-sown crop in all key producing states, said Chirag Patel, chief executive office at exporter Jaydeep Cotton Fibers Pvt Ltd."Crop yields and quality of crop are going to be affected by rainfall. Cotton harvested in the first picking is likely to be of poor quality."
*ICE COTTON SUMMARY**Rally in cotton futures tires; dip in weekly exports weighs**ICE cotton futures took a breather on Thursday from a blistering rally that has seen prices reach their highest level since mid-2011 to lock in profits, following a federal report that showed lower export sales of the fiber.**"Wednesday's settlement pulled back from the limit up seen early in the morning, which looked like profit-taking from investors, and today is a continuation of that," with some skipped over orders also being fulfilled, said Bailey Thomen, cotton risk management associate at StoneX Group.**The upper limit of 113.93 cents per lb hit on Wednesday set an all-time peak for the December contract, and a high since September 2011 for the second month cotton futures contract , for the second session in a row. The higher prices scared some traders out, but today could be viewed as another entry point into the market, Thomen said.**"Unfortunately, this week the export sales report was not very outstanding, but that was expected as China has been out celebrating its National Day holiday."**The US Department of Agriculture's weekly export sales report showed net sales of 246,700 running bales (RB) for 2021/2022, down 57% from the previous week and 40% from the prior 4-week average.**The report, however, showed increases primarily to China of 174,500 RB, following strong sales data to the top consumer in the prior week as well.**Analysts have noted that at these price levels mills are forced to ration the use of natural fiber cotton, which cannot compete with far lower polyester prices.**Total futures market volume fell by 38,117 to 33,674 lots. Data showed total open interest fell 1,658 to 289,200 contracts in the previous session.*
*Cotton prices at all-time high in Punjab, kharif crop fetching ₹7,500 per quintal**As the second picking of raw cotton crop is set to gain momentum in Punjab, rates of the cash crop have reached an all-time high of ₹7,715 per quintal, 23% higher than the minimum support price (MSP) of ₹5,925.**Punjab Mandi Board authorities say till Wednesday, 2.75 lakh quintal of cotton was purchased and private players are paying an average rate ₹7,500 for a quintal of raw cotton.**This has come as a relief to farmers of the south Malwa belt, who are battling the threat of damage caused by the pink bollworm attack. In the semi-arid region of the state, cotton bolls are harvested thrice. Second picking is crucial as it comprises 60% of the total production. Due to the quality, the second harvest determines the profitability of a cotton grower.**Industry watchers attribute higher prices for the kharif produce to an increase in demand by the international textile market.**Director of Indian Cotton Association Limited, a body dealing in export, spinning, ginning of cotton, Rakesh Rathi said the trend may continue for another month. Bulk supply in the coming weeks may stabilise rates, but it is highly unlikely that cotton would see a sharp decline this season, he added.**“Bangladesh and China, the international hub of the textile sector, are the major buyers of Indian thread and raw cotton. Since there has been a sharp increase in the global market since September 15 and the slow arrival of cotton crop in different states, farmers are getting handsome rates,” said Rathi.**With 3.03 lakh hectares under area cotton this year, southern Punjab recorded an increase of 17% than 2020 when cotton was sown on 2.51 lakh hectares. But pink bollworm attack in Bathinda, Mansa and few pockets in Sangrur has left farmers worried about their major cash crop.**Punjab Mandi Board cotton state coordinator Rajnish Goel said by October 6, a total of 2.74 lakh quintal cotton was purchased in centres of all seven districts of the region. By October 6 last year, Punjab mandis saw 1.29 lakh quintals of purchase.**“For the first time, cotton rates have touched ₹7,700 per quintal. In 2011 the maximum rate of cotton was ₹7,000 and ₹6,725 in 2014. Mandis are recording daily average arrival of 25,000 quintals,” said Goel.**Cotton Corporation of India assistant general manager and Punjab in-charge Neeraj Kumar said despite pink bollworm infestation, Punjab is likely to achieve last season’s production of 50 lakh quintals.**“After an increase of 17% area under cotton this year, the CCI pegged Punjab’s production at 60-65 lakh quintals. Pest attack has hit several villages, but farmers are getting up to ₹1,800 more than MSP for their produce. The CCI is following its protocol of maintaining a watch on the market and the agency will entre if cotton rates are crashed and farmers get less than MSP,” said Kumar.*
*All India Weather Forecast for October 08, 2021** Weather systems made across the country *Monsoon has withdrawn from parts of Rajasthan and Gujarat. During the next 24 to 48 hours, Monsoon is likely to depart from Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Punjab, Haryana, Delhi, entire Rajasthan, some parts of Uttar Pradesh, some parts of Madhya Pradesh and some more parts of Gujarat.The Cyclonic Circulation is persisting over Southeast and adjoining East Central Arabian Sea off North Kerala and South Karnataka Coast.A trough is extending from South West Bay of Bengal to East Central Arabian Sea across Tamil Nadu and Karnataka.A Cyclonic Circulation is persisting over Sub-Himalayan West Bengal and adjoining region.*Another cyclonic circulation lies over the central part of Pakistan.*A low pressure area is likely to develop over North Andaman Sea around October 10. This low pressure area is likely to intensify further during the next 2 to 3 days.*Weather movement across the country during the last 24 hours*During the last 24 hours, Goa and Coastal Karnataka received moderate to heavy rains.Light to moderate rain occurred at isolated places over Interior Karnataka, Konkan and Goa and Vidarbha and Coastal Andhra Pradesh.Coastal Tamil Nadu, Andaman and Nicobar Islands and Sikkim received light to moderate rain with isolated heavy rains at one or two places.Light to moderate rain occurred over Lakshadweep, Interior Tamil Nadu, Marathwada, parts of Madhya Maharashtra, Gangetic West Bengal, parts of Chhattisgarh and South Madhya Pradesh.Light rain was recorded at one or two places over Gujarat, one or two parts of East Rajasthan, Uttarakhand, parts of Uttar Pradesh and Assam.*Probable weather activity during next 24 hours*During the next 24 hours, Andaman and Nicobar Islands may experience light to moderate rain with heavy to very heavy falls at a few places.Light to moderate rain at isolated places over Andhra Pradesh, parts of Telangana, Karnataka, Konkan & Goa, parts of Madhya Maharashtra, Marathwada & Vidarbha, Lakshadweep, Coastal Odisha, West Bengal and Northeast India.*Sporadic light rain may occur in Gujarat.*
U.S. EXPORT SALES FOR WEEK ENDING 30/09/2021Cotton: Net sales of 246,700 RB for 2021/2022 were down 57 percent from the previous week and 40 percent from the prior 4-week average. Increases primarily for China (174,500 RB, including decreases of 11,000 RB), Guatemala (33,000 RB), Turkey (18,200 RB), Vietnam (14,200 RB, including 100 RB switched from Japan), and Indonesia (11,400 RB, including 1,200 switched from Vietnam), were offset by reductions for India (20,700 RB) and Pakistan (2,200 RB). Net sales for 2022/2023 of 55,000 RB were primarily for China (40,000 RB). Exports of 125,100 RB--a marketing-year low--were down 24 percent from the previous week and 32 percent from the prior 4-week average. The destinations were primarily to China (30,800 RB), Mexico (16,700 RB), Bangladesh (12,600 RB), Vietnam (11,200 RB), and Turkey (11,100 RB). Net sales of Pima totaling 13,700 RB were down 19 percent from the previous week and 12 percent from the prior 4-week average. Increases were primarily for India (8,300 RB) and Peru (4,700 RB). Exports of 3,700 RB were down 68 percent from the previous week and 51 percent from the prior 4-week average. The destinations were primarily to China (2,200 RB), India (900 RB), Thailand (400 RB), and Guatemala (200 RB). Optional Origin Sales: For 2021/2022, the current outstanding balance of 8,800 RB is for Pakistan. Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance of 4,800 RB is for China (4,700 RB) and Vietnam (100 RB).