Rupee weakens by 8 paise and closed at 73.08 levelWeakness in rupee against dollar has been seen. Rupee weakens by 8 paise to close at 73.08 against dollar today.Nifty below 17,100, Sensex down 214 points; Realty stocks outperformedSensex based on thirty shares had gone up to a record new high of 57,918.71 points at one time during trading. But in the end the gains were not sustained and the Sensex closed at 57,338.21 points, down 214.18 points, or 0.37 percent.
China's manufacturing sector slows as export demand weakensChina's factory activity decelerated in August as export demand weakened, a survey showed Tuesday.The monthly purchasing managers' index of the Chinese statistics bureau and an official industry group declined to 50.1 from July's 50.4 on a 100-point scale on which numbers above 50 show activity increasing.A sub-measure of new exports fell by a full point from the previous month to 46.7, according to the National Bureau of Statistics and the China Federation of Logistics & Purchasing.Officials have warned demand for Chinese exports was likely to weaken in the second half of the year. Factory and consumer activity have been dampened by flooding in July and tighter anti-coronavirus controls.In a report on the latest manufacturing figures, researchers at the Chinese investment bank CICC said they expected "the slowdown in demand will continue.""Overall the manufacturing industry will show a steady slowdown," it added.
Weakness in rupee, 4 paise breaks open at 73.04After the strong gains of yesterday i.e. Tuesday, the rupee has started with weakness today. Rupee has opened weak against the dollar by 4 paise today. Rupee opens today at 73.04 against dollar.Sensex started fast, rose 182 points to open at record levelToday the stock market opened with a boom. Today the BSE Sensex rose by about 181.76 points to open at the level of 57734.15 points. On the other hand, the Nifty of NSE opened with a gain of 51.80 points at the level of 17184.00 points.
*Cotton arrivals begin in Bathinda mandi**Around 19 quintal of raw cotton arrived in Bathinda grain market on Monday, with farmers getting Rs 300-400 per quintal more than the minimum support price (MSP). With Rs 5,925 per quintal being fixed for 27.5-28.5mm long staple, farmers got between Rs 6,200 and 6,400 per quintal.**Cotton season starts on September 1 but the Cotton Corporation of India normally enters the market after October 1, leaving private traders or ginners to make purchases for nearly a month.**Against state agriculture department’s target of sowing cotton in 3.25 lakh hectares, the crop was sown in 3.04 lakh hectares in Punjab. In the previous cotton sowing season, there was big mismatch in figures in Punjab, as initially the state government claimed that the crop was sown in 5 lakh hectares and later claimed that as per actual measurement it was sown in 2.51 lakh hectares.**The CCI website still shows 5 lakh hectare cotton sowing in Punjab.**Mehta village farmer Baldev Singh said he had brought cotton from first picking and sold it for Rs 6,325 per quintal. “I am happy to get this price, which is much above the MSP,” he said. Another farmer Shankar Singh from Katar Singh Wala village had brought about a quintal and sold it for Rs 6,250.**Commission agent Anil Aggarwal said it was the firsty day of cotton arrival in mandi and rates quoted by traders were much higher than the MSP. Actual price will be known when cotton starts arriving in large quantities, he said.**Bathinda market committee secretary Gurwinder Singh told TOI that 19 quintal cotton arrived on the first day on Monday. “We hope the arrivals to pick in mid-September, when the growers are expected to start the picking in big way,” he said.**SiS Commited to update you on all textile related news real time.**Regards**Team Sis**Any query plz call 9111977771**https://wa.me/919111977775*
‘Bangladesh, India has ample scope to work together’Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan today said Bangladesh and India can reap more mutual trade benefits through further collaboration, especially in the area of apparel and textile industry.“There are huge opportunities for Bangladesh and India to complement each other in boosting apparel and textile business in both countries,” he remarked during a meeting with High Commissioner of India to Bangladesh, Vikram K Doraiswami who paid a courtesy call on BGMEA leaders at BGMEA office here today.They had discussions about existing problems in export-import especially in RMG and textile industry and possible ways to address them.They also discussed potential areas of further collaboration between Bangladesh and India to derive mutual trade benefits.BGMEA President Faruque Hassan said: “While Bangladesh relies on India for the import of raw materials including machinery, cotton, yarn, fabric, chemicals, and dyes, India is a potential RMG export market for Bangladesh. Indian domestic apparel market is growing, and Bangladesh can tap the opportunity. So, there lies a reciprocal trade benefit for both Bangladesh and India.”He also called for easing travel procedures including visa and resuming flights especially for business people from Bangladesh.Faruque Hassan has sought the cooperation of the Indian High Commissioner in exchanging knowledge, and expertise in apparel and textile industry.
💐🔆 Import of new cotton started in Madhya Pradesh Today on 30.8.2021 at Kukshi village, Nimad area of Madhya Pradesh, by Mr. Jayesh Kot, Susari, on the auspicious occasion of Janmashtami, the purchase of cotton for the new season 2021-22 was started by Mr. Raju Patidar, the owner of the ginning factory. By doing so, the purchase of new cotton was fixed at which the current price of cotton was Rs.6111/- per quintal.500 kuntals of cotton have been received so far today and around 700 kuntals of cotton are expected to be received by evening.Similarly, today there was a muhurat deal of new cotton whose spot price was Rs.3651/- per quintal which was traded by the cotton broker Laxman Kumar Aggarwal of Indore (Bakul Iron) to the buyer Sriram Oil Mill, Indore (Nitin Goyal). Cotton inflows are expected to increase rapidly in the coming days.SiS Committed to update you on all textile related news real time.
Rupee reaches the upper level of June 18, closed at 73.69Like the equity market, the movement of the rupee has also been seen to be improving. The rupee has reached an all-time high against the dollar today. Rupee today closed 53 paise stronger against dollar. Rupee has closed at 73.69 against the dollar.Sensex rises further, closes by 176 pointsToday the stock market closed sharply. Today, where the Sensex closed at the level of 56124.72 points with a gain of 175.62 points. On the other hand, Nifty closed at 16705.20 with a gain of 68.30 points.
Rupee gains, strengthens by 3 paise and opened at 74.18Rupee has started with strength against the dollar today. Rupee has opened stronger by 4 paise today against the dollar. The rupee has opened at 74.18 against the dollar today. On the other hand, the rupee strengthened by 3 paise to close at 74.22 against the dollar in Thursday's trade.Sensex fell, 32 points broke openToday the stock market opened with a fall. Today the BSE Sensex fell by about 31.84 points and opened at the level of 55917.26 points. On the other hand, the Nifty of NSE opened with a decline of 4.40 points at the level of 16632.50 points.
U.S. EXPORT SALES FOR WEEK ENDING 08/19/2021Soybeans : Net sales of 75,100 MT for 2020/2021 were up 11 percent from the previous week and up noticeably from the prior 4-week average. Increases primarily for China (90,800 MT, including 68,000 MT switched from unknown destinations and decreases of 1,500 MT), the Netherlands (66,000 MT, including 60,000 MT switched from unknown destinations), Taiwan (21,100 MT), Indonesia (19,700 MT, including decreases of 300 MT), and Vietnam (5,900 MT, including decreases of 100 MT), were offset by reductions primarily for unknown destinations (131,000 MT). For 2021/2022, net sales of 1,750,000 MT were primarily for China (934,500 MT), unknown destinations (587,900), Mexico (148,600 MT), Taiwan (26,500 MT), and Indonesia (15,400 MT). Exports of 260,100 MT were up 1 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to Mexico (76,600 MT), China (71,200 MT), the Netherlands (66,000 MT), Indonesia (12,000 MT), and Colombia (7,100 MT).
U.S. EXPORT SALES FOR WEEK ENDING 08/19/2021COTTON : Net sales of 245,100 RB for 2021/2022* were primarily for El Salvador (67,100 RB), Turkey (61,100 RB), Pakistan (35,000 RB), Honduras (26,500 RB), and Vietnam (14,900 RB, including 5,200 RB switched from China, 300 RB switched from Japan, and decreases of 1,100 RB). For 2021/2022, net sales of 67,900 RB were primarily for El Salvador (48,000 RB) and Honduras (18,900 RB). Exports of 201,700 RB were primarily to Pakistan (42,700 RB), Turkey (29,700 RB), Vietnam (27,200 RB), China (26,000 RB), and Mexico (20,900 RB). Net sales of Pima totaling 14,300 RB were primarily for India (7,600 RB), China (2,200 RB), Turkey (1,700 RB), Peru (1,400 RB), and Thailand (1,000 RB). Exports of 8,000 RB were primarily to China (1,800 RB), Peru (1,500 RB), Honduras (1,400 RB), India (1,200 RB), and Bangladesh (600 RB). Optional Origin Sales: For 2021/2022, new optional origin sales of 8,800 RB were reported for Pakistan. 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 strengthened by 3 paise and closed at 74.22 levelLike equity market, rupee's movement remained flat today. The rupee today strengthened by 3 paise to close at 74.22 against the dollar. The rupee had started on a strong note. Rupee opened stronger today by 3 paise against dollar.Sensex recovered from the fall, closed by increasing 5 pointsToday the stock market closed with a slight increase. Today, where the Sensex closed at the level of 55949.10 points with a gain of 4.89 points. On the other hand, Nifty closed at the level of 16636.90 with a gain of 2.20 points.
INDIA’S COTTON EXPORTS REMAIN RESILIENT WITH 75.71% INCREASE IN MAY 2021India is the one of the largest cotton exporters in the world. Exports of cotton yarn and fabrics export account for about 23 per cent of India’s total textiles and apparel export. As per a CCF Group report, in May 2021, India exported cotton yarn worth 101.1 kt a 75.71 per cent rise year-on-year and 12.95 per cent month-on-month increase.Bangladesh tops monthly yarn exportsOf India’s total yarn exports, shipments to Bangladesh increased to 37,642 mt in May 2021 from 30, 539,28 mt in April 2021. These accounted for 37 per cent of India’s total yarn exports. India’s yarn shipments to its second largest export destination China increased 12.95 per cent month-on-month to 21,750.91mt in May 2021 from 19294.2 mt in April 2021. These accounted for 22 per cent of India’s total global cotton yarn exports during the month.Three largest destinations for yearly exportsPeru remained the largest export destination for India during the year with an increase of 587.9 per cent overIndias cotton exports remain resilient with 75.71 increase in May 2021 previous year. Exports to Peru increased to 1,713.92 mt in May 2021 from 249.15 mt in May 2029. The second largest export destination was Bangladesh with an increase of 240.72 per cent over the previous year. India’s exports to Bangladesh increased to 37,642.25 mt in May 2021 from 11,047.82 mt in May 2020.The third largest exports destination for Indian cotton yarn was Portugal with an increase of 123.34 per cent in May 2021. Exports to the country increased from 2,476.91 mt in May 2020 to 5,532.03 mt in May 2021.Exports to China post 16.95 per cent yearly growthOn a year-on-year basis, shipments to China increased 16.95 per cent. Among products, exports of uncombed 8-25S/1 and combed 30-47S/1 yarn to China increased by 13.3 per cent and 23.1 per cent year-on-year respectively. In terms of month-on-month change, exports of combed 8-25S/1 declined by 36.38 per cent to 10,071 mt and those of 25-30S dropped by 34.09 per cent. Exports of combed 8-25S/1 and combed 25-30S/1 increased by 11.3 per cent and 10.5 per cent month-on-month respectively and declined by 9.1 per cent and 55.4 per cent year-on-year. Exports of combed 30-47S/1 declined the most by 57.1 per cent year-on-year with export volume of 2042mt.Despite the pandemic, India’s cotton yarn exports grew both on a year-on-year and month-on-month basis. Bangladesh, China and Portugal remained the largest export destinations for India with exports to China also registering a marked increase despite the political standoff between the two countries.
KUALA LUMPUR: Malaysian palm oil futures took early gains on Wednesday as markets eased a fall in August exports and focused on a tight supply outlook in global edible oils due to warmer weather in soybean producers South America and the US. did.Benchmark palm oil for delivery in November closed at 4,365 ringgit ($1,038.79) per tonne, up 62 ringgit, or 1.44%, on the Bursa Malaysia Derivatives Exchange. The contract has been extended for three out of four seasons.Malaysia's exports during August 1-25 fell between 12% and 13% compared to the same period in July, the cargo surveyor said.The Malaysian Palm Oil Association (MPOA)'s recent production growth forecast for August 1-20 raises high chances of Malaysia's production returning to its normal peak in the third quarter, a Singapore-based trader said."Better-than-expected palm oil production and weaker exports are a recipe for a bigger sell-off, but that is not and will not happen in the near future," said Paramalingam Supramaniam, director of Selangor-based brokerage Pelindung Bestari.Paramalingam said "very tight" supply conditions in top palm oil producer Indonesia and ambiguity with biodiesel mandates in the US drove prices up."Thus any downtrend or correction is an opportunity for bargaining," he said.The US Environmental Protection Agency is expected to recommend the White House reduce the federal biofuels blending mandate for 2021 to below 2020 levels, a blow to the biofuels industry, Reuters reported on Friday. gave information.Soy oil prices on the Chicago Board of Trade were down 0.2% after rising 3.4% in the previous session. Dalian's most active soy oil contract rose 2.1% and its palm oil contract rose 2.4%.Palm oil is affected by price fluctuations in related oils as they compete for share in the global vegetable oil market.
Strong opening of the rupee, opened 2 paise higher at 74.22Rupee has started with strength today. Rupee has opened stronger by 2 paise today against the dollar. Rupee opens today at 74.22 level against dollar.Sensex and Nifty fallToday the stock market opened with a fall. Today the BSE Sensex fell by about 8.05 points and opened at the level of 55936.16 points. On the other hand, the Nifty of NSE opened at a level of 16623.80 points down by 10.90 points.
Rupee weakens by 5 paise and closed at 74.24 levelWeakness in rupee against dollar has been seen. The rupee weakened by 5 paise to close at 74.24 against the dollar today. Rupee also started with weakness today. The rupee weakened by 1 paise against the dollar and opened at 74.20 today.
All India Weather Forecast for August 25, 2021Countrywide weather systemsA cyclonic circulation lies over Northeast Rajasthan and adjoining areas and from this cyclonic circulation, a trough is extending up to Telangana over West Madhya Pradesh and Vidarbha.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over Uttar Pradesh especially the northern parts of the state. Bihar, Sub-Himalayan West Bengal, Sikkim, Assam, Meghalaya and Telangana, Rayalaseema and Andaman and Nicobar Islands experienced heavy to very heavy rainfall at one or two places. Light to moderate rain occurred over Northeast India, parts of Odisha, Vidarbha, South Chhattisgarh, Tamil Nadu, Kerala, Lakshadweep and Jharkhand. Light rain occurred in isolated parts of Uttarakhand, Himachal Pradesh, Punjab, Haryana, Delhi NCR, Gujarat, West MP, Konkan and Goa and Kerala.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls is possible over Uttarakhand, foothills of Uttar Pradesh, Bihar, Sub-Himalayan West Bengal, Sikkim, Assam, Meghalaya and Arunachal Pradesh.Light to moderate rain is very likely over Northeast India, Andaman and Nicobar Islands, Rest of Uttar Pradesh, Himachal Pradesh, East Madhya Pradesh, Jharkhand, Kerala and Tamil Nadu.Light rain is possible over Telangana, Odisha, parts of Gujarat, Maharashtra and Karnataka.
Near Term Fundamentals Still Appear Positive for India’s Cotton CakeCotton cake ended the week on a positive note. The market was supported from limiting inventory in domestic markets and perceptions in context to stable export demand and lower ending stock estimates.Strength in the commodity was also due to reduction in the exchange warehouse stocks in the last few weeks. But the upside was capped because of weakening prices of cotton towards the end of the week. Week on week September cotton cake at NCDEX was marginally down by Rs.21 and the September contract of Cotton cake was seen trading between 3040 and 3200 for the week ending August 22. In Akola market, cotton cake was traded between Rs.3130-3175/qtl and in Kadi the traded offers stood between Rs.3075-3175/qtl.The broader view remains bullish considering the limited inventory of cotton seed in the country, in addition to brighter prospects for cotton exports, once the new season supply sets in. In physical markets traders and stockists are ready to buy at current offers since they are expecting another gain of Rs 200-250 per quintal in the physical markets by next month. As understood from the near term charts we expect September cotton cake to trade with an upward bias unless it closes below 3050 for at least two consecutive sessions. In case the contract gives comfortable closing above 3050, then chances for 3300-3350 shall increase in near future.The Indian Finance Ministry has recently rejected the appeal from a segment of the industry to remove the 10 percent import duty on cotton. Imports of cotton have significantly gone up in the last few years, even though India is the largest producer of cotton in the world. This factor shall continue supporting the cotton market in coming weeks. As a result cotton cake prices shall tend to maintain the upward trend. The rainfall distribution shall govern the sowing area outlook in coming weeks. As of now the rains are favorable for the sowing in Maharashtra but there are concerns in Gujarat where the rains need to improve now. The states of Maharashtra, Gujarat, Karnataka and Madhya Pradesh contribute nearly about 80 per cent of the area under cotton.CAI reduces cotton crop estimate: The Cotton Association of India (CAI) in its latest estimate has reduced its cotton crop forecast to 354.50 lakh bales, lower by 1.50 lakh bales in its July estimate for 2020-21, compared to last month, after lower production in Gujarat and Telangana. The total cotton production in 2019-2020 was around 360 lakh bales. Domestic consumption for 2020 – 21 i.e. October 2020 to September 30, 2021 is estimated to be higher by 5 lakh bales considering the high demand for cotton yarn. The CAI has also increased the exports estimates for the season to 77 lakh bales from its previous estimate of 72 lakh. This export estimate is higher by 27 lakh bales from 50 lakh bales in the previous year. The carryover stock at the end of the season i.e on September 30, 2021 is now estimated at 82.50 lakh. For India the USDA expects cotton production for this season at 29.0 million bales, 700,000 bales (2.5 percent) above 2020/21 as an improvement in yield more than offsets a slight decrease in area. For 2021/22, India’s area is forecast at 12.9 million hectares, and the projected yield at 489 kg per hectare, which is above the 3-year average.
Palm snaps two-day climbMalaysian palm oil futures eased on Tuesday, ending two straight sessions of gains on slow export shipments and industry estimates of an increase in August output. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange closed down 16 ringgit, or 0.37%, to 4,300 ringgit ($1,017.27) a tonne. Prices came off on long liquidation as Dalian prices rose sharply on Monday, a Kuala Lumpur-based trader said."Higher production expectations for August also weighed on (the market) and more selling could emerge if exports don't recover," the trader said.The Southern Peninsula Palm Oil Millers' Association forecast an 11.5% month-on-month rise in Aug. 1-20 production, traders said on Monday./Malaysia's exports during Aug. 1-20 fell 9.9% from the same period in July, cargo surveyor Societe Generale de Surveillance said on Monday.Investors are expecting August 1-25 shipments, which are expected to be announced on Wednesday, to remain low.The ringgit, palm's currency of trade, fell 0.07% against the dollar, making the commodity cheaper for holders of foreign currency. Dalian's most-active soyoil contract rose 1.2%, while its palm oil contract gained 1.9%. Soyoil prices on the Chicago Board of Trade were up 0.9%.Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.Refinitiv Agriculture Research said in a note on Monday that the contract might rise towards resistance at 4,360-4,380 ringgit a tonne this week, with support at 4,050-4,070 ringgit a tonne, rebounding from last week's sharp loss on bargain-buying.
Soyabeans rally as crop conditions drop, soyaoil prices riseCHICAGO: US soyabean futures rallied on Tuesday on eroding Midwest crop conditions and improving export demand, and as soyaoil prices rose another 3% amid further gains in crude oil markets.Corn futures also climbed on deteriorating crop conditions across the heart of the farm belt. Wheat prices firmed on spillover support from rising corn and soya, though gains were limited by a firm US dollar.Soybeans posted their strongest percentage gains in nearly two months on Tuesday after the US Department of Agriculture (USDA) reported a weekly decline in crop conditions and as severely hot weather was forecast for the heart of the Midwest crop belt.Demand for soya, meanwhile, was also improving. The USDA confirmed a private sale of US soyabeans to China in its first daily sales announcement since reporting a string of purchases by the top importer earlier this month."We're starting to sell beans to China again so all of a sudden our demand profile is picking up a bit," said Jack Scoville, analyst with the Price Group."The crop condition ratings yesterday showed a deterioration and ideas are that, with the weather developing how it is, we could see more," he said.Corn crop conditions dropped by more than expected in the past week, particularly in the eastern Midwest. The steepest drop was in Illinois, where the heat index was expected to climb above 100 Fahrenheit (37.8 Celsius) on Tuesday and Wednesday.Chicago Board of Trade November soyabeans jumped 42-1/2 cents to $13.35-1/4 a bushel by 12:10 p.m. CDT (1710 GMT), the contract's strongest percentage gain since June 30. December corn rose 9-1/2 cents to $5.45 a bushel, while CBOT December wheat added 1/4 cent to $7.33-3/4 a bushel. RegardsTeam SisAny query plz call 9111977771https://wa.me/919111677774
Weakness in rupee, 1 paise breaks open at 74.20Rupee has started with weakness today. Rupee has opened weak by 1 paise against the dollar today. Rupee opened today at 74.20 against dollar. On the other hand, the rupee got stronger against the dollar in Tuesday's trade. The rupee yesterday closed at 74.19 with a gain of 2 paise against the dollar.Sensex opened at record level with a gain of 104 pointsToday the stock market opened with a record high. Today the BSE Sensex rose by about 104.49 points to open at a record level of 56063.47 points. On the other hand, the Nifty of NSE opened with a gain of 33.40 points at a record level of 16658.00 points.