*Cotton rises on weaker dollar**ICE cotton futures gained on Thursday, supported by a weaker dollar and a strong weekly US export sales report, with risk-on sentiment in the equity markets adding to the upbeat mood.**“The obstacles of the Federal Reserve’s tapering and China Evergrande real estate event are sort of put on hold right now allowing the stock market rise. And the dollar is down today,” said Keith Brown, principal at cotton brokers Keith Brown and Co in Georgia. “And, of course, cotton sales were up, with China being the lead buyer.**All these factors are helping cotton prices today.” The dollar fell 0.5% against its rivals, making cotton less expensive for buyers holding other currencies.**The sentiment in wider financial markets remained upbeat as investors largely brushed off concerns over the Federal Reserve’s plans for tapering.**Meanwhile, the US Department of Agriculture’s weekly export sales report showed net sales of 345,400 running bales for 2021/2022, were up 21% from the previous week, with increases primarily for China.**Total futures market volume fell by 6,446 to 11,197 lots. Data showed total open interest gained 202 to 262,785 contracts in the previous session.**Certificated cotton stocks deliverable as of Sept. 21 totalled 60,976 480-lb bales, unchanged from the previous session.*
*PAKISTAN COTTON MARKET UPDATE*Modest trading activity on cotton marketThe local cotton market on Thursday remained stable and trading volume remained a little bit low.The Spot Rate remained unchanged at Rs 12700 per maund. The Polyester Fiber was available at Rs 222 per kg.Cotton Analyst Naseem Usman told Business Recorder that due to rains in the cotton areas of Sindh and Punjab may effect the quality of Phutti.Federal Finance Minister Shaukat Tarin in his speech on 19th September at KCCI meeting said that the current season of cotton production in Pakistan will produce about 12 million bales.The rate of cotton in Sindh is in between Rs 11500 to Rs 113100 per maund and the rate of cotton in Punjab is in between Rs 13200 to Rs 13300 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4800 to Rs 5600 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5400 to Rs 5800 per 40 kg. The rate of Banola in Sindh is in between Rs 1450 to Rs 1700 per maund. The rate of Banola in Punjab is in between Rs 1450 to Rs 1700 per maund. The rate of cotton in Balochistan is in between Rs 12300- 12400 per maund. The rate of Phutti in Balochistan is Rs 5900- 6400 per maund.
U.S. EXPORT SALES FOR WEEK ENDING 16/09/2021 Cotton: Net sales of 345,400 RB for 2021/2022 were up 21 percent from the previous week and 27 percent from the prior 4-week average. Increases were primarily for China (219,800 RB), Turkey (52,700 RB), Pakistan (36,200 RB), Vietnam (9,700 RB, including 3,700 RB switched from China, 500 RB switched from Japan, and decreases of 500 RB), and Peru (5,500 RB, including decreases of 100 RB). Exports of 176,800 RBwere down 26 percent from the previous week and 7 percent from the prior 4-week average. The destinations were primarily to Turkey (36,000 RB), China (32,700 RB), Vietnam (25,700 RB), Mexico (22,700 RB), and Pakistan (19,700 RB). Net sales of Pima totaling 23,500 RB were up noticeably from the previous week and up 86 percent from the prior 4-week average. Increases were primarily for India (16,000 RB), Peru (2,400 RB), Turkey (1,500 RB), China (1,300 RB), and Greece (900 RB). Exports of 3,800 RB were up 23 percent from the previous week, but down 45 percent from the prior 4-week average. The destinations were to India (2,800 RB), China (500 RB), Peru (300 RB), and Pakistan (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).
Rupee gains 23 paise to close at 73.64The rupee has strengthened by 23 paise to close at 73.64 against the dollar. Rupee also started with strength today. Rupee opened stronger today by 9 paise against dollar. The rupee opened at 73.78 against the dollar.On the other hand, there was a weakness in the rupee against the dollar in Wednesday's trade. The rupee today closed 26 paise weaker at 73.87 against the dollar.Record closing of Sensex, closed higher by 958 pointsToday the stock market closed with a record high. Today, where the Sensex closed at a record level of 59885.36 points with a gain of about 958.03 points. On the other hand, Nifty closed at a record level of 17823.00 points with a gain of 276.30 points.
Rupee opens 9 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 9 paise at Rs 73.78 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 73.87 with a weakness of 26 paise against the dollar.Sensex rises further, opens up 340 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 340.21 points to open at the level of 59267.54 points. On the other hand, the Nifty of NSE opened with a gain of 107.10 points at the level of 17653.80 points.
Pink bollworm attack on cotton at alarming levels, farmers panicThe pink bollworm attack on cotton crop in Punjab has been found to be much beyond earlier anticipated. Over one fourth area in biggest cotton growing districts of Bathinda and Mansa are disturbed on the count though earlier the attack was felt in around 10-15% area in these districts. The pest attack has also caused damage to the crop in border district of Fazilka and Muktsar but with less intensity.In some of the districts in Bathinda, Maur, Sangat blocks, the damage is found to be above 50% and at some places touching up to 60-70%, the fact even the state agriculture department officials too have conceded. The economic threshold level (ETL) has been found to be above 10 adults per leaf while the permissible limit is up to five adults.With the pink bollworm attack turning to alarming levels, the farmers have panicked and resorting to even un recommended spray to control it but are not getting relief. Cotton has been sown in 3.04 lakh hectares in Punjab and 1.70 lakh hectares (56% of total) was sown in these two districts. The attack though was noticed in last week of August in Bathinda and Mansa, but it could not be contained in nearly a month and instead has been increasing by the day.Farmer Gurcharan Singh of Bhamme Khurd village in Mansa ploughed his cotton crop in two acres on Wednesday. Gurcharan said despite spending on extra sprays the pest remained intact and had damaged the crop. With no other option he ploughed the crop. “The attack of pink bollworm is wide spread and if not contained at the earliest, more farmers may follow suit and as there is no time left to go in for another crop than sowing wheat in a month’ time, the farmers will have to suffer immense losses. We want government to fully compensate farmers for the damage being caused by pest attack,” said farm group BKU (Ekta Ugrahan) Mansa district president Ram Singh Bhainibagha.The state agriculture department officials too are on their toes. The department director has visited a number of villages on Bathinda on Wednesday. “We had got a survey conducted last week and today I visited the villages where damage to crop was found to be more. The damage is varying from village to village and field to field. In all, it could be over 15% in Bathinda and Mansa and there are no reports of damage from Fazilka and Muktsar. Sprays are being recommended to farmers,” department director Sukhdev Singh. He added that after getting ground report, the department will prepare a report on Thursday or by Friday and will provide the report to the state government to take any decision on the damage to cotton crop.“Over 10 pests are found in many of the plants and in the entire field which are causing extensive damage to the crop. We have made sprays but despite that the pest is intact and eating up the plants,” said farmers Mohinder Singh and Gurdev Singh of village Jai Singh Wala in Bathinda.The farmers from Sangat area in Bathinda fear a reset of 2015. They recalled the damage done to cotton crop six years ago. Then, the white fly attack had caused immense damage to the cotton crop and over 60% crop was damaged due to severe pest attack and many farmers facing losses had ended lives.
Kharif cotton procurement should begin in November: Maharashtra ministerCotton procurement for 2021-22 kharif season should commence from the first week of November, Minister for Cooperation and Marketing Balasaheb Patil said on Wednesday.At a meeting here, Patil took the stock of cotton cultivation in Maharashtra. He directed the department to start early cotton procurement from November first week to facilitate timely sale and income for farmers.The directives come in the wake of a delay in the last kharif season due to Covid-19 pandemic and lockdown, for which procurement centres did not open on time.“Cotton sowing in the current kharif season was done on 39.37 lack hectares. Last year, it was sown on 42.08 lakh hectares. The area under cotton sowing has declined by 6.44 per cent,” Patil said.Regarding procurement plans at the district level, the minister directed officials to ensure CCTV cameras at every centre.
*PAKISTAN COTTON MARKET UPDATE*Rates firm amid modest businessThe local cotton market remained stable on Wednesday and the volume remained satisfactory.Cotton Analyst Naseem Usman told Business Recorder that due to rains in the cotton areas of Sindh and Punjab may effect the quality of Phutti.The Spot Rate remained unchanged at Rs 12700 per maund. The Polyester Fiber was available at Rs 222 per kg.The rate of cotton in Sindh is in between Rs 11500 to Rs 12000 per maund and the rate of cotton in Punjab is in between Rs 12500 to Rs 13200 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 5500 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5000 to Rs 5600 per 40 kg. The rate of Banola in Sindh is in between Rs 15500 to Rs 16500 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 1700 per maund. The rate of cotton in Balochistan is in between Rs 12000- 13000 per maund. The rate of Phutti in Balochistan is Rs 6100- 6600 per maund.
*Punjab mandis see 50-fold rise in cotton arrival this year*Amid high demand and better prices being offered by private players, Punjab has witnessed a 50-fold increase in the arrival of cotton crop at mandis as compared to the figures till September 21 last year.According to the Punjab Mandi Board, about 80,000 quintal crop has been purchased at various mandis in the cotton belt spread across south Punjab till September 21. In the corresponding period last kharif season, various purchase centres had reported the arrival of only 1,637 quintals.Industry sources attribute the sharp rise in arrival of the crop to better rates being offered by buyers, after last year’s uncertainty that had hit demand.Notwithstanding the deadly pink bollworm attack, Mansa and Bathinda districts have seen a brisk arrival of 27,000 and 12,000 quintals of cotton, respectively. In Fazilka, nearly 26,000 quintal cotton has been sold by farmers till September 21.According to the mandi board data, cotton is being bought for rates as high as ₹7,010/quintal. In fact, nearly 98% of the produce has been purchased at rates above the season’s expected minimum support price (MSP) of ₹5,925/quintal.This year, Punjab has an estimated 3.25 lakh hectares under cotton. In a few parts, where cotton is sown before May, picking of bolls commences in mid-August but the major harvest begins after September 15. Market watchers say last year, the demand for cotton was low due to uncertainty caused by Covid-induced restrictions.Mandi Board cotton state coordinator Rajnish Goel said the average rate of cotton in September 2020 was about ₹4,500/quintal. As the Cotton Corporation of India (CCI) starts buying the non-perishable crop from October 1, farmers have a tendency to stock the produce till the market offers a higher price.“This time the average rate of cotton is ₹6,800-7,000/quintal, which is much higher than the expected MSP. A formal notification of MSP on long-medium varieties, that are commonly sown in Punjab, has not been issued yet, but it is expected to be ₹5,925,” said Goel, adding that Punjab is expected to surpass last season’s production of 50 lakh quintals. *SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771**https://wa.me/919111977775*
*All India Weather Forecast for September 23, 2021**Weather systems made across the country*A trough is running from South East Jharkhand to Telangana passing through Interior of Orissa.A Cyclonic Circulation is persisting over East Rajasthan.A trough is extending from Jammu and Kashmir to a cyclonic circulation over East Rajasthan across Punjab and Haryana.Another Cyclonic Circulation lies at low levels over South Coast of Tamil Nadu.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain with isolated heavy falls at isolated places over Madhya Maharashtra, Andaman & Nicobar Islands, Southwest Madhya Pradesh, parts of Rajasthan, isolated parts of West Uttar Pradesh and North Tamil Nadu coast. rained out. .Light to moderate rain occurred over Northeast India, Sub-Himalayan West Bengal, Sikkim, remaining parts of Rajasthan, parts of Odisha, remaining parts of Madhya Pradesh, Gujarat region, Marathwada, parts of Karnataka, Kerala, Rayalaseema, Lakshadweep and Telangana . Light rain occurred in Himachal Pradesh, Uttarakhand, Jammu and Kashmir, parts of Punjab, Haryana, Chhattisgarh and Saurashtra and Kutch.*Possible weather activity during next 24 hours*During the next 24 hours, Gangetic West Bengal, parts of Jharkhand, Odisha and Chhattisgarh, parts of Telangana, Vidarbha, Marathwada, Konkan and Goa, Andaman and Nicobar Islands, parts of Uttar Pradesh, Haryana, Punjab, Uttarakhand, Light to moderate rain in parts of Rajasthan and Gujarat; Heavy rain may occur at one or two places. . Light to moderate rain is possible over Himachal Pradesh, Delhi, remaining parts of Rajasthan, Saurashtra and Kutch, parts of Madhya Pradesh, Bihar, parts of Northeast India, Coastal Andhra Pradesh, Coastal Tamil Nadu and Madhya Maharashtra. Light rain is possible over Interior Tamil Nadu, Interior Karnataka, Kerala and Lakshadweep.
Rupee depreciates against dollar, loses 7 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 7 paise at Rs 73.68 against the dollar. At the same time, on Tuesday, the rupee closed at Rs 73.61 with a strength of 13 paise against the dollar.Sensex rises further, opens up 161 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 160.88 points to open at the level of 59166.15 points. On the other hand, the Nifty of NSE opened with a gain of 30.80 points at the level of 17592.80 points.
*All India Weather Forecast for September 22, 2021**Weather systems made across the country*A Cyclonic Circulation is persisting over Rajasthan and adjoining region. A trough is extending from the cyclonic circulation over East Rajasthan to Northeast Arabian Sea across Gujarat. A trough is extending from Interior Karnataka to Comorin area across Interior Tamil Nadu. A Cyclonic Circulation is persisting over South Coast of Tamil Nadu.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain with isolated heavy falls over Gangetic West Bengal, parts of South Madhya Pradesh, Southeast Rajasthan, parts of Telangana, Andhra Pradesh, isolated parts of Tamil Nadu, South Interior Karnataka and North Punjab It was heavy at some places.Light to moderate rain occurred over parts of Uttar Pradesh, parts of Jharkhand, remaining parts of Telangana, North Interior Karnataka, Marathwada, Andaman and Nicobar Islands and Coastal Tamil Nadu.*Possible weather activity during next 24 hours*During the next 24 hours, light to moderate rain at isolated places will occur over Odisha, Gangetic West Bengal, parts of Gujarat, East Rajasthan, parts of Vidarbha, Marathwada, Telangana, Gujarat region, Konkan and Goa and Andaman and Nicobar Islands. But it might rain heavily. Light to moderate rain may occur over parts of Punjab, Haryana, Delhi, Jammu and Kashmir, remaining parts of Rajasthan, Interior Karnataka, Chhattisgarh, Tamil Nadu and Lakshadweep. Light rain is possible over Kerala and Andhra Pradesh.
*PAKISTAN COTTON MARKET UPDATE**Official spot rate drops sharply**The Spot Rate Committee of the Karachi Cotton Association (KCA) on Tuesday decreased the spot rate by Rs 400 per maund and closed it at Rs 12700 per maund.**The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 400 per maund and closed it at Rs 12700 per maund. The Polyester Fiber was available at Rs 222 per kg. The local cotton market remained bearish and the volume remained satisfactory.**Cotton Analyst Naseem Usman told Business Recorder that Punjab Seed Council in its meeting gave approval to the five new varieties of Bt cotton and one variety of non BT cotton of Central Cotton Research Institute Multan.**The rate of cotton in Sindh is in between Rs 11000 to Rs 12400 per maund and the rate of cotton in Punjab is in between Rs 12400 to Rs 12800 per maund. The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 6400 per 40 kg.**The rate of Phutti in Punjab is in between Rs 4500 to Rs 5400 per 40 kg. The rate of Banola in Sindh is in between Rs 1500 to Rs 1600 per maund. The rate of Banola in Punjab is in between Rs 1600 to Rs 1700 per maund. The rate of cotton in Balochistan is in between Rs 12200- 13000 per maund. The rate of Phutti in Balochistan is Rs 5800- 6400 per maund.*
*ICE COTTON SUMMARY**Cotton rises over 1%**ICE cotton futures rose more than 1% on Tuesday, with mills taking advantage of a steep fall in the previous session to buy back some of the natural fiber, while a weaker dollar offered further support.**“People that are looking to get back in the market are taking advantage of these lower prices that we haven’t seen in a month or two. It could be related to new speculators or also could be related to some mill fixations,” Bailey Thomen, cotton risk management associate at StoneX Group said.**“Also the US dollar has pulled back a little bit which is helping commodities. However, the cotton market is still susceptible to a further sell off from some of these outside market forces”**The dollar slipped 0.1% against its rivals after touching a near one-month peak on Monday, making cotton less expensive for buyers holding other currencies.**World stock markets stabilized after a sharp sell-off, as investors assessed the level of contagion stemming from distress of debt-saddled property group China Evergrande.**Total futures market volume fell by 35,805 to 17,827 lots. Data showed total open interest fell 8,727 to 263,976 contracts in the previous session.*
Today evening, the rupee strengthened by 13 paise to close at Rs 73.61 against the dollar.Sensex rises again, closes up by 514 pointsToday the stock market closed sharply. Today, where the Sensex closed at the level of 59005.27 points with a gain of about 514.34 points. At the same time, the Nifty closed at the level of 17562.00 points with a gain of 165.10 points.
Bathinda: Cotton growers protest against pest attackAngered by the growing problem of pink bollworm in Malwa region, hundreds of farmers led by BKU (Ekta Ugra) leader Jagdev Singh Jogewala staged a protest outside the District Agriculture Officer's office here on Monday.They also brought with them the destroyed cotton crop. Farmers claimed that pink bollworm had destroyed 80 to 90 percent of the cotton crop, but the agriculture department was still in deep sleep.Jogewala said that there has been a widespread attack of pink bollworm in Bathinda and Mansa districts. He said it was similar to the whitefly attack of 2015, when most of the cotton crop was destroyed. He alleged that the agriculture department was underestimating the damage caused by the pink bollworm to hide its failure.Meanwhile, farmer leaders Kulwinder Singh Giana and Kulwant Sharma alleged that fake Bt cotton seeds were given to growers this time, which led to the pink bollworm attack. He said that this has been done by the big companies and the government under an agreement with the corporate houses. "This is a step to grab our land."The protesters said they would be forced to plow their cotton crop in the coming days and demanded a high-level probe into the Bt seeds case.The farmers further said that after Bathinda and Mansa, the pest outbreak had started in other districts as well. He said farmers have sprayed pesticides three to four times so far, but the pink worm is still present. The leaders demanded that the Punjab government should give a special compensation of Rs 60,000 per acre to the farmers.
Rupee opens 14 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 14 paise at Rs 73.60 against the dollar. At the same time, on Monday, the rupee declined by 26 paise to close at Rs 73.74 against the dollar.Sensex rises again, opens up 215 pointsToday the stock market opened with great momentum. Today, the BSE Sensex opened with a gain of 214.90 points at the level of 58705.83 points. On the other hand, the Nifty of NSE opened with a gain of 57.00 points at the level of 17453.90 points. Today, trading started in a total of 1,906 companies in the BSE, out of which about 1,078 shares opened with a rise and 720 with a fall.
PAKISTAN COTTON MARKET UPDATECotton prices drop despite strong demandThe Spot Rate Committee of the Karachi Cotton Association on Monday decreased the spot rate by Rs 150 per maund and closed it at Rs 13100 per maund.The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 150 per maund and closed it at Rs 13100 per maund. The Polyester Fiber was available at Rs 222 per kg.The local cotton market remained bearish and the volume remained satisfactory. Cotton Analyst Naseem Usman told Business Recorder that Punjab Seed Council in its meeting gave approval to the five new varieties of Bt cotton and one variety of non BT cotton of Central Cotton Research Institute Multan.The rate of cotton in Sindh is in between Rs 12000 to Rs 12900 per maund and the rate of cotton in Punjab is in between Rs 12600 to Rs 12800 per maund.The rate of the new crop of Phutti in Sindh was in between Rs 4500 to Rs 5500 per 40 kg. The rate of Phutti in Punjab is in between Rs 4800 to Rs 5600 per 40 Kg. The rate of Banola in Sindh is in between Rs 1500 to Rs 1600 per maund. The rate of Banola in Punjab is in between Rs 1550 to Rs 1700 per maund. The rate of cotton in Balochistan is in between Rs 12700- 12800 per maund. The rate of Phutti in Balochistan is Rs 5800- 6500 per maund.
All India Weather Forecast for September 21, 2021Weather systems made across the countryThe Cyclonic Circulation lies over North Odisha. A low pressure area is persisting over eastern parts of Rajasthan and adjoining western parts of Madhya Pradesh. A trough is extending from Telangana to South Tamil Nadu across Rayalaseema at a low level.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain at isolated places over Gangetic West Bengal, North Konkan and Goa, parts of Odisha and isolated parts of Gujarat, West Madhya Pradesh, Vidarbha, South Tamil Nadu and South Coast of Andhra Pradesh. But it rained heavily. Light to moderate rain occurred over remaining parts of Tamil Nadu, Gujarat, South and Southeast Rajasthan, parts of Madhya Pradesh, Uttarakhand, Himachal Pradesh, Chhattisgarh, parts of Jharkhand and parts of Bihar and Assam. Light rain occurred over North Haryana, Western parts of Rajasthan, isolated parts of Kerala, Coastal Karnataka, Telangana and Andhra Pradesh.Possible weather activity during next 24 hoursDuring the next 24 hours, Gangetic West Bengal, parts of Odisha, Vidarbha, Marathwada, parts of Telangana, Konkan and Goa, parts of Madhya Pradesh, Gujarat, south and southeast Rajasthan, Andaman and Nicobar Islands and Uttarakhand Light to moderate rain with isolated heavy rains may occur at some places.Sub-Himalayan West Bengal, Northeast India, parts of Bihar, Jharkhand, Uttar Pradesh, Chhattisgarh, Madhya Maharashtra, Coastal and North Interior Karnataka, Coastal Andhra Pradesh, parts of Tamil Nadu, Punjab, Haryana, parts of Delhi and Himachal Pradesh Light to moderate rain may occur. . Light rain is possible over South Interior Karnataka, Kerala, Lakshadweep, Saurashtra, Kutch and Western parts of Rajasthan.
Today evening, the rupee depreciated by 26 paise to close at Rs 73.74 against the dollar.Sensex fell, closed after breaking 525 pointsToday the stock market closed with a fall. Today, where the Sensex closed at the level of 58490.93 points, down by about 524.96 points. On the other hand, Nifty closed at 17396.90 points down by 188.30 points.