Cotton

[vksharma]

cotton rallies on stabilization ideas


ICE Futures U.S. cotton posted strong gains Friday as signs of economic stability encouraged buying in commodities and equities, leaving cotton traders more confident on holding positions.



Cotton will take cues from outside markets in the near term while the market keeps an eye on weather in West Texas, analysts said.



Most-active December cotton settled 176 points higher at 62.52 cents and the nearby October contract settled up 105 points at 59.80. For the week, December gained 39 points.

 

[vksharma]

prices firm despite heavy buying, spot rate brought down to Rs3,950

September 22 2008: Huge buying was marked on cotton market during the week under review, as soft trend in oil prices besides opportunities ahead are encouraging buyers. Ginners are keeping soft attitude. The spot rate opened at weekend level at RS 4000 but closed at RS 3950 while phutti prices fluctuated per the supplies, dearer in Sindh while lower in Punjab.

The end figures were Rs1900-1950 in Sindh and Rs1825-1925 in Punjab.

 

[madhur31]

rakesh malik no since long.any problem...?

 

[madhur31]

Prices inch up on cotton market

September 23 2008: A number of mills were active to cover the forward buying on cotton market on Monday ahead of Eid-ul-Fitr holidays, dealers said.The official spot rate was unchanged at Rs 3950, they said. Phutti prices in Sindh were higher at Rs 1925-1950 and in Punjab, the rates followed same pattern and posted fresh gains at Rs 1850-1950, they said.
THE FOLLOWING DEALS WERE REPORTED: 4600 bales of cotton from Shahdadpur sold at Rs 4000-4025, 3600 bales from Tando Adam at the same rate, 2000 bales from Sanghar at Rs 4000, same figure from Mirpurkhas at Rs 3975-4000, 1000 bales from Shapur Chakar at Rs 4000, 4000 bales from Qazi Ahmed at Rs 4025, 1000 bales from Burewala at Rs 3975-4000 and same figure from Khanewal at the same rate, dealers said.

 

[madhur31]

No roll-back of cotton MSP, says Vaghela

The Government is unlikely to roll-back the minimum support price (MSP) for cotton, Union Textile Minister Shankersinh Vaghela has said.

"There will be no roll-back of MSP for cotton. MSP is definitely quite high but the move is necessary to safeguard the interests of farmers, as they are getting the benefit of a higher cotton price," Vaghela told reporters here today.

"Industry has a choice to import cheap raw cotton, as we have already removed import duty," Vaghela said.

In July, the Government had scrapped import duty on raw cotton and withdrew export incentives to boost supplies and tame high prices.

The industry protested as the Government raised the minimum support price (MSP) by up to 40 per cent for medium staple cotton. However, the Government said the raise had become necessary due to increased input costs and an overall rise in cotton prices.

 

[madhur31]

Slackened activity was again witnessed on the cotton market on Monday ahead of Eid-e-Milad-un-Nabi holiday, dealers said. The official spot rate was unchanged at Rs 3250, they said. The phutti prices in both the Punjab and Sindh were at Rs 1550-1650, they added.

According to the market sources despite some facilities to the textile sector, no change was seen in the present scenario. In fact, dullness was persisting in the absence of proper participation by the mills, they said. Ginners are fed up with the circumstances as they have failed to dispose of stock with them, facing financial problems, they said.

It appeared that present concessions for the textile sector, the expiry of anti-dumping duty period on the exports of bed linen to the European Union and some other facilities failed to give any boost to the trading activity, some experts said. A deal of 4000 bales from Khanpur was struck at Rs 3300, they said.

 

[madhur31]

Cotton target missed by three million bales
(March 09 2009): The country missed the 14.1 million bales cotton production target for 2008-09 by some 3 million bales due to various factors, including decline in the cultivated area, use of pirated Bt cotton seed, and mealy bug attack on standing crop, sources in agricultural sector told reporter on Sunday.

They said that at present almost all fields of cotton have been cleared in Sindh and Punjab and only very few of areas have some cotton crop standing, from where about 0.1 to 0.2 million cotton bales are expected during this month.

The process of cotton arrivals in the ginneries has become slow and during last 15 days of February arrivals of cotton was less than 0.1 million bales--88,178 bales. The Pakistan Cotton Ginners Association (PCGA) would release its final report of phutti arrivals in the first week of April. It issued its last report on March 4, which showed that up to March 1, 2009 some 11.2 million bales had arrived in the ginneries.

Following PCGA report, traders believe that the country has missed its both original and revised cotton production targets by a huge margin. As per PCGA statistics, cotton production stood at 11,221,104 bales at the end of February 2009, while more 0.1-02 million bales are expected during this month to make total cotton production to about 11.4 million bales, sources said.

During the current season, some 0.29 million bales have been exported and 9.57 million bales sold to textile millers till February 28, while the unsold stock stands at 1.1 million bales including (11,53,279 pressed bales and 30,291 bales in shape of phutti), said PCGA report. Ginning factories of Punjab produced total 8,237,814 million bales, 2,983,290 million bales in Sindh, it added.

"The country has missed its actual and revised cotton production targets due to 7 percent decline in cotton cultivation area," said Dr Badar Ebad Siddique, a former vice president of Pakistan Central Cotton Committee (PCCC).

He said that due to attractive price of rice and sugarcane, the farmers in Sindh and Punjab switched over to other crops. However, he said that Sindh had achieved its cotton production target of 3 million bales.

Bt cotton seed and crop medicines, which are available in the domestic markets, are not as per standard and some of them are expired, he added. Government should be ensured fertiliser availability on time and quality seeds and medicine to achieve next year cotton target, he added.

 

[madhur31]

PCGA decides to stop phutti buying
Levy of 3.5 percent

 

[rakeshmalik]

price rise, spot rate up by Rs 200 on cotton market

1200 bales from Shahdad Pur sold at Rs 6200, 1000 bales from Sanghar at Rs 6200, 600 bales from Tando Adam at Rs 6200, 600 bales from Mir Pur Khas at Rs 6200, 200 bales from Hyderabad at Rs 6200, 400 bales from Gojra at Rs 6450-6500, 200 bales from Multan at Rs 6450, 200 bales from Sillan Wali at Rs 6500, 200 bales from Pul Bagarh at Rs 6500, 800 bales of cotton from Khanewal at Rs 6500, 200 bales from Hasil Pur at Rs 6500, 200 bales from Gajjo Mandi at Rs 6500, 600 bales from Vehari at Rs 6500-6600, 200 bales from Bhawal Pur at Rs 6500, 200 bales from Haroonabad at Rs 6500, 600 bales of cotton from Garh Mharaja at Rs 6550-6600, 200 bales of cotton Chichawatni at Rs 6550, 200 bales from Okara at Rs 6575, 800 bales from Burewala at Rs 6600, 200 bales of cotton from Arifwala at Rs 6600, 200 bales from Bahawal Nagar at Rs 6600-6700 and 600 bales from Kabirwala at Rs 6600.

 

[rakeshmalik]

China, Brace as Super Typhoon Muifa Approaches

Thursday, August 4th, 2011

A super typhoon is barreling into the East China Sea toward Shanghai with winds up to 198 kilometers per hour at its core.
Chinese authorities have begun ordering fishing boats back to shore, while Japanese officials have canceled flights in Okinawa, stranding hundreds of passengers.
Late Thursday, Typhoon Muifa was positioned near the Ryukyu Islands, midway between Japan's main islands and Taiwan. China's National Marine Environmental Forecasting Center said it could produce waves of six to nine meters as it churns northwestward through the East China Sea at about 15 kilometers per hour.
In Shanghai, authorities warned the storm could be as powerful as 2005's Typhoon Matsa when it comes ashore sometime Saturday or Sunday. Matsa killed four people and caused more than $15 million in damage.
Muifa claimed five lives as it passed through the northern and central Philippines earlier this week.