pakistan cotton market updateThere is no respite from the declining trend in the cotton marketThe Spot Rate Committee of Karachi Cotton Association on Thursday reduced the spot rate by Rs 200 per mind and closed it at Rs 13,500 per mind.Polyester fiber was available at Rs 222 per kg.The local cotton market remained on a downtrend and the business was satisfactory.Cotton analyst Naseem Usman Business Recorder said the fall in cotton rates was mainly due to rains in the cotton growing regions of Sindh and Punjab, affecting the supply of ftti. The second reason is the arrival of imported footwear and lack of liquidity.The price of cotton in Sindh is between Rs.12200 to Rs.13200 per mand and the price of cotton in Punjab is between Rs.13000 to Rs.13300 per mind.The price of new foot crop in Sindh ranged from Rs 5200 to Rs 5700 per 40 kg. The price of ftti in Punjab is between Rs 5200 and Rs 5700 per 40 kg.Banola price in Sindh is between Rs 1550 to Rs 1700 per mind. Banola price in Punjab is between Rs 1600 to Rs 1700 per mind. Cotton price in Balochistan is Rs.13200 per mand. The rate of foot in Balochistan is Rs 6100-6700 per mind.
ICE cotton dips as traders await USDA reportsICE cotton futures eased on Thursday ahead of a monthly supply and demand report, with some traders expecting the United States Department of Agriculture (USDA) to raise its estimate for US supply in the report.The USDA’s keenly awaited World Agriculture Supply and Demand Estimate (WASDE) report is due on Friday.Peter Egli, director of risk management at British merchant Plexus Cotton, said the USDA could raise its estimate for US output as current conditions pointed to a good crop.“Supplies are tight now and shipments are being delayed in a lot of places, but supply is going to start to stream in about one to two months and then we will see how quickly we can satisfy demand,” Egli said.The USDA’s weekly crop progress report on Tuesday showed 61% of the cotton crop was in a good-to-excellent condition in the week ended Sept. 5. That was down from 70% in the prior week, but still well above the 44% for the same period a year ago.Market participants were also looking ahead to the USDA’s weekly export sales report on Friday. The report was delayed due to the Labor Day holiday.“The global economy is weakening and we have to see what that means for demand going forward,” Egli said. He added that Tropical Depression Mindy - which could bring rain to South Carolina and Georgia - was unlikely to have a major impact on supply.Certificated cotton stocks deliverable as of Sept. 8 totaled 64,455 480-lb bales, down from 68,502 in the previous session.
All India Weather Forecast for September 10, 2021Countrywide weather systemsThe Low Pressure Area lies over Central parts of West Madhya Pradesh and adjoining East Rajasthan. The associated cyclonic circulation extends up to 7.6 km above mean sea level.Weather movement across the country during the last 24 hoursLight to moderate rain occurred over South and Southeast Rajasthan, remaining parts of Madhya Pradesh, Coastal Karnataka, parts of Kerala, parts of Odisha, Himachal Pradesh, Uttarakhand and Coastal Andhra Pradesh.Light rain occurred over Delhi, remaining parts of Madhya Pradesh, West Uttar Pradesh, Telangana, Interior Karnataka and South Kerala.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with one or two parts of Telangana may occur at isolated places over Andaman and Nicobar Islands, Gujarat, Southeast Rajasthan, Madhya Pradesh, parts of Chhattisgarh, parts of Odisha and Telangana. Is. Light to moderate rain with one or two heavy spells is possible over Coastal Karnataka, Uttarakhand, Himachal Pradesh and East Rajasthan. Light to moderate rain is possible over Jammu and Kashmir, West Bengal, Northeast India, Sikkim, parts of Uttar Pradesh, Interior Odisha, Delhi, Punjab and Haryana. Isolated light rain is possible over Telangana, Interior Karnataka, Kerala and Tamil Nadu and Lakshadweep.
*Cotton woven yarn prices in India & China to rise this winter**Prices of China’s 32/1 combed cotton yarn and India’s 30/1 combed cotton yarn are expected to rise during the peak season for textiles and clothing as the demand for winter clothing is expected to increase in the coming months. The demand for new cotton is also expected to move up in China and will likely be procured immediately by the country’s spinners.**The rising demand from western countries will also strengthen the price of the cotton yarn.**The 32/1 combed cotton yarn price went up from 24.26 CNY/kg in January 2021 to 26.57 CNY/kg in June 2021. It further increased by 6.89 per cent to 28.40 CNY/kg in August 2021.**The price is expected to touch 30.04 CNY/kg in November 2021, recording a rise of 5.77 per cent.**The price of 30/1 combed cotton yarn was ₹254.81 per kg in January 2021, which increased by 4.62 per cent to ₹266.59 per kg in June 2021. It further grew by 4.13 per cent to reach ₹277.59 per kg in August 2021. The price is now likely to record a 3.71 per cent increase to reach ₹287.89 per kg in November 2021.*
*Punjab's Bhatinda reports pink bollworm infestation in cotton fields**Pink bollworm infestation has been seen in the cotton fields of Punjab's Bathinda. Gurvinder Singh, Joint Director, Agriculture Department said, "We are monitoring the situation closely with block-level officers recommending pesticides to contain worm attacks."**Singh even said that the root cause of the infestation is that some farmers used pesticides that were not recommended. "We have issued advisories to farmers. Any sort of negligence will be actionable," he said.**Singh also assured that no farmers will be bearing losses and the issue of infestation will be resolved soon.*
*Rupee depreciates against dollar, loses 17 paise*Rupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 17 paise at Rs 73.77 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 73.60 with a weakness of 18 paise against the dollar.*Sensex falls, breaks 77 points open*Today the stock market opened with a fall. Today the BSE Sensex fell by about 77.28 points and opened at the level of 58172.98 points. On the other hand, the Nifty of NSE opened with a decline of 33.50 points at the level of 17320.00 points.
*PAKISTAN COTTON MARKET UPDATE**Cotton market crashes due to rains**The local cotton market on Wednesday crashed. Cotton analyst Naseem Usman said to Business Recorder that the reason behind crashing of market is rains in the cotton growing areas of Sindh and Punjab due which the supply of Phutti was affected. Second reason is the arrival of imported Phutti and liquidity crunch.**The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 200 per maund and closed it at Rs 13700 per maund. The rate of cotton in Sindh is in between Rs 12900 to Rs 13500 per maund and the rate of cotton in Punjab is in between Rs 13400 to Rs 13500 per maund. The rate of the new crop of Phutti in Sindh was in between Rs 5400 to Rs 5800 per 40 Kg. The rate of Phutti in Punjab is in between Rs 5500 to Rs 5900 per 40 Kg. The rate of Banola in Sindh is in between Rs 1600 to Rs 1700 per maund. The rate of Banola in Punjab is in between Rs 1650 to Rs 1750 per maund. The rate of cotton in Balochistan is Rs 13500 to Rs 13600 per maund. The rate of Phutti in Balochistan is Rs 6300 to Rs 6800 per maund.**The Spot Rate Committee of the Karachi Cotton Association decreased the spot rate by Rs 200 per maund and closed it at Rs 13700 per maund. The Polyester Fiber was available at Rs 222 per Kg.*
*ICE cotton gains as approaching storm clouds crop outlook**ICE cotton futures firmed on Wednesday on concerns that a weather disturbance developing in the U.S. Gulf of Mexico could hurt harvests in key regions, with crop conditions already downgraded in a weekly federal report.**Prices will be supported by the weather conditions in the Gulf of Mexico that are “going to bring a lot of rain to the Georgia crop, and we don’t need anymore rain as crops are already suffering,” said Keith Brown, principal at cotton brokers Keith Brown and Co in Georgia.**The U.S. National Hurricane Center said on Tuesday a system, that is currently over the central and eastern Gulf of Mexico, could form a tropical or subtropical depression as it nears the northern Gulf coast on Wednesday night or Thursday.**The U.S. Department of Agriculture (USDA)’s weekly crop progress report on Tuesday showed 61% of the cotton crop was in a good-to-excellent condition in the week ending Sept. 5, down from 70% in the prior week.**The report also said 54% of Texas crop was in good-to-excellent condition last week, down from 68% in the previous week. The downgrade in the condition of Texas crops by several percentage points is another positive for prices, Brown said.**Total futures market volume rose by 4,783 to 21,638 lots. Data showed total open interest gained 36 to 273,868 contracts in the previous session.*
*Cotton and paddy crops in 3,607 acres inundated**Although rains have abated during the day in most parts of the old undivided Khammam district on Wednesday, the heavy rains that lashed Khammam and Bhadradri-Kothagudem districts in the last few days led to inundation of cotton and paddy crops in little over 3,607 acres in both the districts.**As per the preliminary estimates by the Agriculture Department, crops including paddy and cotton in around 1,887 acres were damaged in Bhadradri-Kothagudem district, affecting as many as 1,393 farmers. Farmers in Julurupadu, Burgampadu, Sujathanagar, Tekulapalli and Palvancha mandals bore the maximum brunt of the rain fury, sources said. In Khammam district, crops, mainly paddy and cotton, were inundated by rainwater in around 1,720 acres.**Heavy rains over the past three days caused significant damage to cotton and paddy crops besides chilli seedlings, mainly in Tirumalayapalem, Kusumanchi, Mudigonda and Madhira mandals. The extensive waterlogging in agricultural fields, some of which still remained under a sheet of water in various villages in Khammam and Sattupalli divisions, is likely to affect the crop yield. Chilli farmers in the chilli growing belt of the district are worried over their crop prospects in the current kharif season as heavy rains damaged chilli seedlings in several villages in Kusumanchi, Nelakondapalli, Khammam rural and Tirumalayapalem mandals.**As per the Kharif action plan, area sown under chilli is expected to increase to little over 56,000 acres in this Kharif season as against the last year’s acreage of around 55,000 acres in Khammam district.*
*All India Weather Forecast for September 9, 2021**Countrywide weather systems*The Low Pressure Area is over North Madhya Maharashtra and adjoining Gujarat region. A Cyclonic Circulation is persisting over Punjab and adjoining areas.*Weather movement across the country during the last 24 hours*During the last 24 hours, Monsoon was vigorous over Konkan & Goa, parts of Marathwada and South Gujarat. These areas received moderate to heavy rainfall at one or two places. Light to moderate rain occurred at isolated places over South Madhya Pradesh, Vidarbha, parts of Telangana, Coastal Karnataka, North Kerala, North Odisha, Gangetic West Bengal, North Coastal Andhra Pradesh and Sikkim. Light to moderate in some parts of Northeast India, parts of Bihar, Uttar Pradesh, remaining parts of Madhya Pradesh, Chhattisgarh, Interior Odisha, Andaman & Nicobar Islands, Lakshadweep, Saurashtra & Kutch, East Rajasthan, Himachal Pradesh, Uttarakhand, Haryana rained out. and Delhi. Light rain occurred over Interior Karnataka, parts of Tamil Nadu, South Kerala, Jharkhand, Jammu and Kashmir and Ladakh.*Possible weather activity during next 24 hours*During the next 24 hours, moderate to heavy rain is likely over Gujarat.Light to moderate rain with isolated heavy rain is likely over parts of Konkan and Goa, parts of Southeast Rajasthan, Gangetic West Bengal, North Odisha and Andaman and Nicobar Islands. Light to moderate rain may occur over Interior Odisha, Sub-Himalayan West Bengal, Sikkim, Northeast India, Bihar, Jharkhand, Uttar Pradesh, Punjab, Haryana, Delhi, Uttarakhand, Himachal Pradesh, Madhya Pradesh, Chhattisgarh and Coastal Karnataka. Light rain is possible over Andhra Pradesh, Telangana, Interior Karnataka, Tamil Nadu, Kerala, Lakshadweep and East Rajasthan.
The rupee declined by 18 paise to close at Rs 73.60 against the dollar this evening.Sensex fell further, closed down by 29 pointsToday the stock market closed with a fall. Today, where the Sensex closed at a level of 58250.26 points, down by about 29.22 points. On the other hand, Nifty closed at 17353.50 points down by 8.60 points.
Government has approved Production Linked Incentive (PLI) Scheme for Textiles. With this, India is poised to regain its dominance in Global Textiles TradeLeveraging Economies of Scale, the scheme will help Indian companies to emerge as Global ChampionsHelp create additional employment of over 7.5 lakh people directly and several lakhs more for supporting activitiesScheme will also pave the way for participation of women in large numbersIncentives worth Rs. 10,683 crore will be provided to industry over five yearsIt is expected that this scheme will result in fresh investment of above Rs 19,000 crore and additional production turnover of over Rs.3 lakh crore in five yearsHigher priority for investment in Aspirational Districts & Tier 3/4 townsScheme will positively impact especially States like Gujarat, UP, Maharashtra, Tamil Nadu, Punjab, AP, Telangana, Odisha etc.
Rupee depreciates against dollar, loses 5 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 5 paise at Rs 73.47 against the dollar. At the same time, on Tuesday, the rupee closed at Rs 73.42 with a weakness of 31 paise against the dollar.Sensex falls, breaks 25 points openToday the stock market opened with a fall. Today the BSE Sensex fell by about 24.88 points and opened at the level of 58254.60 points. On the other hand, the Nifty of NSE opened at a level of 17348.80 points down by 13.30 points.
Pakistan Shortage of cotton, yarn: PYMA seeks duty-free import from Turkey, India, UzbekistanPakistan Yarn Merchants Association (PYMA), has appealed Prime Minister Imran Khan to take steps to reduce the cost of production of value-added textile industry, in view of the shortage of cotton, its yarn and the skyrocketing prices and allow duty-free import of cotton and yarn from Turkey, India and Uzbekistan through land routes so that exporters can compete in the ongoing price race in international markets.Hanif Lakhany, Vice President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and Senior Vice Chairman PYMA, Farhan Ashrafi, Vice Chairman PYMA and convener FPCCI’s central standing committee on yarn trading said that the value-added sector in the country is facing immense difficulties due to shortage and prices of cotton and cotton yarn reaching record levels as cotton yarn is not available to these export industries even at high prices as per the production demand.PYMA office-bearers said the exporters in the value-added sector are reluctant to accept new orders due to difficulties in procuring basic raw materials. Due to which these orders can be transferred to other countries.
All India Weather Forecast for September 8, 2021Countrywide weather systemsA Deep Low Pressure Area is persisting over Vidarbha and adjoining region, it is expected to move in a west-northwest direction. The Monsoon Trough is passing through Bikaner, Bhopal and passing through a deep low pressure area and then moving east southeast towards West Central Bay of Bengal.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Monsoon was vigorous over parts of Telangana, Vidarbha and Marathwada. These areas received moderate to heavy rain with one or two very heavy showers. Light to moderate rain with isolated heavy falls occurred at isolated places over Assam, West Bengal, Coastal Odisha, Coastal Karnataka and North West Uttar Pradesh. Light to moderate rain occurred at one or two places over North Coastal Tamil Nadu, Kerala, Lakshadweep, Rayalaseema and parts of Jharkhand. Moderate rain at one or two places was observed over parts of Interior Tamil Nadu, Chhattisgarh, parts of Gujarat, Madhya Maharashtra, South-West Madhya Pradesh, Rajasthan and rest of Northeast India. Light rain occurred over remaining parts of Rajasthan, Saurashtra and Kutch, Bihar, Interior Karnataka and Andaman and Nicobar Islands.Possible weather activity during next 24 hoursDuring the next 24 hours, moderate to heavy rains are likely over parts of Vidarbha, Marathwada, North Madhya Maharashtra, Konkan & Goa, South Gujarat and Coastal Karnataka. Light to moderate rain is very likely at isolated places over parts of West Bengal, parts of Odisha, South Madhya Pradesh, Telangana, Sikkim, parts of Assam and Andaman and Nicobar Islands. Light to moderate rain may occur over parts of Bihar, Uttar Pradesh, Jharkhand, Interior Odisha, rest of Madhya Pradesh, South Rajasthan, Western Himalayas, Punjab, Haryana, Delhi, rest of Northeast India, Kerala, Andhra Pradesh and Interior Karnataka. Light rain is possible over remaining parts of Rajasthan and Madhya Pradesh, Chhattisgarh and Lakshadweep.
The rupee declined by 31 paise to close at Rs 73.42 against the dollar this evening.Sensex declines, Sensex closed after losing 17 pointsToday the stock market closed with a fall. Today, where the Sensex closed at a level of 58279.48, down by about 17.43 points. On the other hand, Nifty closed at the level of 17362.10 points down by 15.70 points.
Rupee depreciates against dollar, loses 3 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 73.14 against the dollar. At the same time, on Monday, the rupee closed at Rs 73.11 with a weakness of 9 paise against the dollar.The market has started with a slight uptrend today.At present, the Nifty is seen around 17390 with a gain of 12 points or 0.07 percent. At the same time, the Sensex has slipped into the red mark after opening in the green mark. It is seen at the level of 58,202.41 with a fall of 94 points or 0.16%.
Cotton growers, agri dept on toes as pink bollworm pest spreads tentacles in south PunjabCotton growers in south Punjab are a worried lot these days as pink bollworm infestation has been reported in more areas ahead of the main harvesting period of the kharif crop starting next week.According to the state agriculture department, all 14 blocks of Bathinda and Mansa, the two biggest cotton-producing districts of Punjab, have reported the pest attack. A total of 3.25 lakh hectares is under cotton cultivation in Punjab. Nearly 5% of the area under the crop in Bathinda (96,000 hectares) and Mansa (65,000 hectares) is under the pest attack.Agriculture officials said presently there is no serious threat to cotton production. The maiden picking of the three-picking cycle of cotton is expected to begin after September 15 whereas farmers have started harvesting in the early-sown fields.BT cotton is resistant to American bollworm, but experts say it is susceptible to the pink bollworm as has been seen in Maharashtra, Gujarat and now in Punjab for the second consecutive year.Sources said last year, traces of pink bollworm were found in few pockets of 20 villages in Bathinda and Mansa but in the last few weeks, the pest’s presence is felt in the larger area of the cotton belt.Experts and the agriculture department blame oil mills, cotton ginning units and a section of villagers for ignoring the laid-down protocol to avoid the pest.“Our teams have started holding awareness and field inspection camps and the task in both districts would be completed by Saturday. At present, the economic threshold level of the pest is within permissible limits,” said Singh, who also is in charge of Mansa.Economic threshold level is pest density at which control measures should be applied to prevent increasing pest population.Agriculture development officer Ajaypal Brar said the permissible limit is five adults per cotton ball or flower and the initial inputs suggest in the most area the infestation is not critical.“The next 15-20 days are crucial to containing the infestation. Farmers have been advised for regular inspection of fields and go for spray only if the pest infestation is beyond ETL,” said Brar.Sharanjit Singh, a progressive farmer from Mansa’s Mann Khera village, said cotton growers were hoping for a remunerative season due to high prices being offered by traders but the pest attack in the region is a cause of concern.“Farmers should have completely removed cotton straw, which is used as firewood or consumed to energise brick kilns completely from the fields. Now, the use of additional sprays of pesticides means an avoidable increase in the cost of production,” he added.
PAKISTAN COTTON MARKET UPDATEModerate trading activity on cotton marketThe local market on Monday remained stable and trading volume remained low. The Spot Rate remained unchanged at Rs 13900 per maund. The Polyester Fiber was available at Rs 222 per kg. Cotton Analyst Naseem Usman Business Recorder that the reason behind low trading volume is rains in the cotton growing areas of Sindh and Punjab due which the supply of Phutti was effected.The rate of cotton in Sindh is in between Rs 13500 to Rs 14000 per maund and the rate of cotton in Punjab is in between Rs 13800 to Rs 14100 per maund. The rate of the new crop of Phutti in Sindh was in between Rs 5500 to Rs 6100 per 40 kg. The rate of Phutti in Punjab is in between Rs 5700 to Rs 6200 per 40 kg. The rate of Banola in Sindh is in between Rs 1600 to Rs 1750 per maund. The rate of Banola in Punjab is in between Rs 1700 to Rs 1800 per maund. The rate of cotton in Balochistan is Rs 13700 to Rs 13800 per maund. The rate of Phutti in Balochistan is Rs 6300- 6900 per maund.Market intelligence attributes the variance to a combination of under reporting by ginners and GoP's romance for cotton's glorious past, but that lament has received sufficient attention in this space (and not nearly enough by the government). The net result, however, is that estimates by everyone lose credibility, and add to uncertainty in the market.
All India Weather Forecast for September 7, 2021Weather systems made across the countryThe axis of Monsoon trough is moving towards Anupgarh, Hisar, Meerut, Hardoi, Varanasi, Jamshedpur, Balasore and then east-southeast and moving north-east towards Bay of Bengal.The Low Pressure is persisting over West Central Bay of Bengal and adjoining parts of South Odisha and North Coastal Andhra Pradesh. The Cyclonic Circulation lies over Northwest Rajasthan and adjoining Punjab.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Tamil Nadu, Kerala, Andaman and Nicobar Islands, Coastal Odisha, isolated parts of Rayalaseema, Coastal Andhra Pradesh, parts of Telangana, Karnataka, South Gujarat, parts of Northeast Madhya Pradesh and Jammu and Kashmir Light to moderate rain with heavy rain occurred at a few places. Light to moderate rain occurred over Himachal Pradesh, Uttarakhand, parts of East Rajasthan, Gujarat region, rest of Madhya Pradesh, Chhattisgarh, Interior Odisha, Marathwada, Madhya Maharashtra, parts of Konkan and Goa, West Bengal, South Interior Karnataka and Lakshadweep. Light rain occurred over Delhi and NCR, Uttar Pradesh, Bihar, Jharkhand, Northeast India and Saurashtra and Kutch.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls at isolated places is likely over South Odisha, South Chhattisgarh, Telangana, Maharashtra, Rayalaseema, parts of Kerala, Karnataka, South Madhya Pradesh and East Gujarat. Is. Light to moderate rain is possible over Northeast India, West Bengal, Sikkim, Kerala, Andaman and Nicobar Islands, Lakshadweep, rest of Madhya Pradesh, Uttarakhand, Himachal Pradesh and East Rajasthan.Light rain is likely in Uttar Pradesh, Bihar, Jharkhand, Delhi, Punjab, Haryana, Jammu and Kashmir, Ladakh, Tamil Nadu, Lakshadweep.