Cotton

[rakeshmalik]

China Cotton Index (4:30 GMT 3rd Feb, 2008)
CNCE firmer (4:05 GMT 3rd Feb, 2008)
CNCE moves higher (5:22 GMT 2nd Feb, 2008)
Grower trade picks up on The Seam (22:27 GMT 1st Feb, 2008)
New York futures settle higher (20:32 GMT 1st Feb, 2008)
Midday cotton futures modestly higher in light trade (17:32 GMT 1st Feb, 2008)
Rains move through Memphis Territory into Southeast US (15:18 GMT 1st Feb, 2008)
Taiwan tender results (11:47 GMT 1st Feb, 2008)
Cotcorp quotations (10:43 GMT 1st Feb, 2008)
China Cotton Index (8:12 GMT 1st Feb, 2008)

 

[rakeshmalik]

Pakistan to export cotton to India after 16 years' gap
ASMA RAZAQ
ISLAMABAD (February 03 2008): Pakistan will export 3,000 bales of raw cotton to India after a 16 years' gap, sources told Business Recorder on Friday. Textile exports during 2006-07, worth $10.8 billion, increased by 5 percent against $10.2 billion in 2005-06 but failed to achieve the $11.5 billion target set for the year.

This export consignment, of 3000 bales, will be of low grade cotton costing Rs 35 million, at average rate of 48 to 50 cents per pound. Pakistan last exported cotton to India after 16 years back in 1991-92. India's current season cotton production is around 27 million bales against consumption of 23.5 million bales, a surplus of 3.5 million bales but it exported 4.5 million bales, which created some shortage. India's exports have surged by 110 percent, rising from $7.8 billion in 1999 to $18 billion in 2007.

Pakistan may again miss the textile export target of $11.40 billion for 2007-08 owing to increasing energy crisis due to water shortage in reservoirs. During July-December of 2007-08, total textile exports amounted to $5.228 billion as compared to $5.489 billion for the corresponding period of 2006-07, showing 5 percent decline so far.

The textile sector is going through severe crisis as almost 70 percent industrial units have been closed due to the prevailing energy crisis that includes severe power load shedding and low gas pressure. Keeping this in view, the government has decided to follow the standards set by the World Trade Organisation (WTO) for enhancing exports.

 

[rakeshmalik]

Lacklustre business on cotton market
RECORDER REPORT
KARACHI (February 03 2008): Lacklustre activity was seen on the cotton market on Saturday as spinners were trying to finalise the deals at the lowest levels, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged by at Rs 3150, they said.

Phutti prices in Sindh were at Rs 1500-1550, they said. According to the market sources a few spinners were in the market to inquire about the fresh deals but prices did not match with the psychological levels of the ginners. The mills were trying to lower the prices as they are in a position to buy cheaper cotton from the importing countries, they added.

Upward trend was seen on the NY cotton market at the week-end as the ICE Futures' open-outcry March cotton contract rose 0.37 cent to end at 68.16 cents per lb, moving from 67.90 to 68.35 cents. May cotton add 0.38 to 70.08 cents and the new-crop December cotton contract gained 0.29 cent to 76.69 cents.

ICE March electronic cotton futures increased 0.44 cent to 68.23 cents at 3:17 pm EST (2017 GMT), moving from 67.85 to 68.40 cents. Only a solo deal of 200 bales was seen from Mirpur Khas at Rs 3215, they said.

===========================================================
The KCA Official Spot Rate for Local Dealings in Pak Rupees
-----------------------------------------------------------
FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
===========================================================
Rate Ex-Gin Upcountry Spot Rate Ex-Karachi
for Price Sales Tax @ 15%
===========================================================
37.32 Kgs 3150.00 50 3200.00
Equivalent-------------------------------------------------
40 Kgs 3376.00 50 3426.00
===========================================================

 

[rakeshmalik]

Cotton Prices
Cotton Prices Falling in Connection with Equity Markets (Weekly Report)
28 January 2008 - Cotton prices began plunging in the past week, in line with the fall in equity markets and amid very strong volatility from one day to the other. Cotton prices are now directly connected to stock prices and may further decline ahead of a potential economic slowdown. Prices also fell in India after rising to very high levels and depressing demand from foreign markets, especially from Pakistan

 

[rakeshmalik]

India
Spun Yarn Prices in India (Monthly Report)
15 January 2008 - Spun yarn prices are mixed in January in India with cotton yarns now rising, after experiencing some fall in November-December. By contrast, polyester-cotton yarns and 100% polyester spun yarns were mostly stable while polyester-viscose yarns were falling, our India Correspondent reports. Spun yarn production continues rising, in addition

 

[rakeshmalik]

Pakistan
Polyester Fibre and Yarn Prices in Pakistan (Monthly Report)
29 January 2008 - Prices of polyester staple fibers are staying unchanged in Pakistan thanks to the decline in import prices of PSF from China. Blended yarn prices slightly increased in the past weeks, after a rise in cotton prices resulted in higher costs for spinners. Yarn makers are also confronted with power shortages in the northern part of the country, our Pakistan Correspondent reports

 

[rakeshmalik]

China
Spun Yarn Prices in China (Biweekly Report)
31 January 2008 - Spun yarn prices were mixed in the past two weeks in China with cotton and polyester yarns relatively stable while viscose yarns were falling. Activity nearly disappeared as heavy snow paralysed transports. Plants were often shut down in advance of coming holidays for a 20-Day long break.

 

[rakeshmalik]

India: Bt cotton growers reap rich harvest
30 Jan, 2008, 0421 hrs IST, TNN
BANGALORE: Cotton farmers in Karnataka cultivating Bt cotton have net returns which are thrice the level of what non-Bt cotton farmers earn. A research on the “techno-economic impact of Bt cotton” conducted by two staffers of the University of Agriculture Sciences (UAS), Dharwad, has indicated that the net returns enjoyed by Bt cotton growers is Rs 13,168 per hectare compared to Rs 4,484 per hectare of non-Bt cotton farmers

 

[rakeshmalik]

The higher net returns is due to savings from lesser spending on pesticides and higher yield, said LB Hugar, one of the two researchers. The study covered 180 cotton farmers spread across Raichur, Mysore and Haveri districts. The yield advantage as regards to Bt cotton over non-Bt cotton was approximately four quintals a hectare.

Mr Hugar said savings from expenditure on pesticides and higher yield provided a benefit to the tune of Rs 66.2 crore in 2006-07 with the average saving due to reduction in pesticide use to be Rs 3,094 per hectare for Bt cotton growers vis-a-vis non-Bt cotton farmers. It also meant that the number of labour days saved was 26 for Bt cotton growers.

Typically, most of the Bt cotton growers derived the technical information relating to cultivating practices from private agencies like seed companies and dealers.

Mr Hugar said there was a need to provide education through the institutional route to help dispel myths surrounding Bt cotton technology. Mr Hugar said there was a need to provide diagnostic kits besides training officials of agencies like the Raitha Samparka Kendras on identifying spurious Bt cotton seeds which are posing a major problem for the faster growth of Bt cotton technology in the country.

 

[rakeshmalik]

USA : Cotton market has trouble breaking 70 cents
January 30, 2008

Cotton continues to follow the grain markets as a limit move in wheat yesterday took us higher and a pull back today drug us lower. Cotton just has no direction at the moment, but with the amount of spec participation, we tend to follow strength from other commodities.