Cotton

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rakeshmalik

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Cotton Prices
Cotton Prices Surging to 4-Year High (Mid-Week Update)
27 February 2008 -Cotton prices further surged in the last two days on the international market. New York prices rose to a 4-1/4-year high. With this sharp increase being transmitted to physical markets, the "A Index" broke the 80-cent symbolic level, as reflected by our price tables. Demand is falling, as spinners are unable raising their yarn prices accordingly. Full Report... Sample Report...

Cotton Prices Sharply Rose in New York (Weekly Report)
25 February 2008 - Cotton prices dramatically rose last week in New York with the nearby contract gaining nearly 10%. A new surge in other commodity prices is driving speculative interest in relatively lower-priced cotton. Demand from spinners remains weak on the international market. Cotton prices could further increase in the near term, however, as the market could not to escape the global rise in inflation this year. Full Report... Sample Report...

Cotton Market Shaken by Strong Volatility (Weekly Report)
18 February 2008 - Cotton prices last Thursday rallied in New York partly due to a new surge in grain prices. Demand from spinners may be negatively affected by the new rebound after slightly recovering at the start of the week, in line with lower prices. New York futures may also be stimulated by stronger demand for US cotton, as Indian prices now look less competitive on the international market. Full Report... Sample Report...
 

rakeshmalik

Well-Known Member
Tata undecided about reducing Nano price

Mumbai, Mar 1: Following the reduction in excise duties in the Union Budget, automobile major Tata Motors has slashed the prices of its Indica and SUV models. However, the company on Saturday said it was undecided about lowering the price of its forthcoming model Nano, already considered the world’s cheapest car at Rs.100,000 (USD 2,500). “It’s too early” to say whether this would have a bearing on the prices of the proposed family car, Tata Nano, expected to hit the market at Rs.100,000, a company spokesperson told agencies.

According to present indications, Nano will be available in the showrooms in the second half of this year.

Among existing models, the prices of the popular Tata Indica car series have been slashed between Rs.8,500-Rs.14,600.

In the commercial light motor vehicle segment where the company has more than 150 models, including Tata Sumo and Safari, the prices have been reduced by two percent across all models.

“We want to pass on the benefits of the excise duty relief to our consumers,” the spokesperson said.

Another auto major Maruti Suzuki has also announced price reductions following the tax cuts.
 

rakeshmalik

Well-Known Member
Cotton futures close sharply higher (20:29 GMT 29th Feb, 2008)
Most actively-traded New York cotton futures sharply higher at midday (17:49 GMT 29th Feb, 2008)
Scattered showers forecast for southern US (17:35 GMT 29th Feb, 2008)
Textile industry disappointed by Indian budget (14:40 GMT 29th Feb, 2008)
Indian budget (9:40 GMT 29th Feb, 2008)
ZCE rallies (8:42 GMT 29th Feb, 2008)
China Cotton Index (7:57 GMT 29th Feb, 2008)
Consignment ratio rises in China in January (7:02 GMT 29th Feb, 2008)
CNCE settles mixed (5:50 GMT 29th Feb, 2008)
Trade and growers return to The Seam (22:33 GMT 28th Feb, 2008)
Cotton No. 2 contracts
 

rakeshmalik

Well-Known Member
China Cotton Index
(CC Index) 2008/03/03

(RMB YUAN/MT) more>>
Date Index Change
03/03/08 13801 +5
02/29/08 13796 +5
02/28/08 13791 +2
02/27/08 13789 +26
 

rakeshmalik

Well-Known Member
Consumers willing to buy even inferior cotton at any price
SHAFI AHMED SYED
KARACHI (March 03 2008): There was nothing strange in return of cotton consumers to lift all available cotton lots as spectre of price hike swept the four corners of the world during the week ended March 1, 2008. Spot price during the week jumped another Rs 25 to be at Rs 3200. Some fluctuations were noted, a deal was struck at Rs 3500.
 

rakeshmalik

Well-Known Member
LATEST RAW COTTON ARRIVALS
(Position as on 1st (March 2008)
The per day arrivals are reported around 1,60,000 bales.

States 2007-08 2006-07
Quantity in lakh bales of 170 kgs

Punjab 19.20 22.25
Haryana 12.00 12.95
Rajasthan 8.15 7.60
North Total 39.35 42.80
Gujarat 80.00 69.00
Maharashtra 52.75 44.00
Madhya Pradesh 17.25 15.00
Central Total 150.00 128.00
Andhra Pradesh 36.75 27.50
Karnataka 5.25 4.25
Tamil Nadu 2.00 2.00
South Total 44.00 33.75
Others 1.15 1.00
Total 234.50 205.55
Plus Loose lint 10.00 10.00
 

rakeshmalik

Well-Known Member
India`s textile exports touch $10 bn during Apr-Oct 2007-08

New Delhi, March 03: India's textile exports, hit hard by an appreciating rupee, have touched USD 10.67 billion during April-October 2007-08, the Lok Sabha was informed on Monday.

The government had set an export target of USD 25 billion for the current fiscal.

However, for the April-September period, textile exports, including handicrafts, jute and coir, saw a negative growth of 0.96 percent to USD 9.1 billion, Minister of State for Textiles E V K S Elangovan said in a written reply.

According to estimates by the Confederation of Indian Textile Industry (CITI), the sector is likely to see a loss of 2.72 lakh direct jobs due to decline in exports.

In a separate reply, Elangovan said the state-run national textile corporation would revive and revamp 100 showrooms across the country in a phased manner.

Replying to another question, he said 30 projects under the scheme for integrated textile park would be completed by 2009 at an estimated cost of Rs 2,893.42 crore, of which government assistance would be about Rs 1,054.76 crore.

He further said till January 2008, 9.81 lakh weavers were covered under health insurance scheme and 3.60 lakh weavers under Mahatma Gandhi Bunkar Bima Yojana.
 

rakeshmalik

Well-Known Member
NYBOT Cotton #2
(Price quotes for NYBOT Cotton #2 delayed at least 30 minutes as per exchange requirements)

Click here to refresh data

Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Cash - - - 73.81 * Feb 25, 09:53 - - - - - n/a
Mar 08 89.15 89.15 89.10 89.10 Mar 05, 10:01 - 0.10 176 89.00 932 Call Put
May 08 89.95 92.86 88.25 90.65 Mar 05, 10:11 - 1.79 18672 88.86 148011 Call Put
Jul 08 91.98 94.52 89.62 91.73 Mar 05, 10:08 - 1.21 15492 90.52 48452 Call Put
Oct 08 92.33 96.33 91.55 95.35 Mar 05, 09:43 - 3.02 41 92.33 1816 Call Put
Dec 08 95.95 98.45 93.12 96.40 Mar 05, 10:11 - 1.95 18468 94.45 88265 Call Put
Mar 09 96.41 100.39 95.75 98.80 Mar 05, 10:01 - 2.39 846 96.41 7037 Call Put
May 09 96.96 99.08 96.50 99.00 Mar 05, 09:52 - 2.04 152 96.96 457 Call Put
Jul 09 97.50 101.50 97.50 101.50 Mar 05, 07:06 - 4.00 120 97.50 770 Call Put
Oct 09 - - - 97.70 * Mar 03, 14:20 - - 50 97.70 55 Call Put
Dec 09 98.25 101.50 98.25 100.00 Mar 05, 09:15 - 2.25 368 97.75 1988 Call Put
Mar 10 - - - 100.10 * Mar 03, 14:20 - - - 100.10 50 Call Put
May 10 - - - 100.85 * Mar 03, 14:20 - - - 100.85 - Call Put
Jul 10 - - - 101.50 * Mar 04, 11:35 - - 2 101.50 1333 Call Put
Oct 10 - - - 101.70 * Mar 03, 14:20 - - - 101.70 5 Call Put
Dec 10 - - - 101.50 * Mar 03, 14:20 - - 1 101.50 35 Call Put
 

rakeshmalik

Well-Known Member
FPCCI concerned over reluctance of Indian cotton exporters
KARACHI (March 06 2008): President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Tanvir A. Sheikh has expressed serious concern over the reluctancy of Indian cotton exporters to fulfil their commitments with Pakistani buyers.

He mentioned that such tactics will not only damage the creditability of Indian businessmen, it will also create obstacles in the politico-economic relations of the neighbouring countries.

"It is astonishing that Indian cotton exporters are now reluctant to fulfil their commitment with Pakistani buyers because of increasing trend in international cotton market," FPCCI chief said in a press statement here on Wednesday.

After a long debate and efforts, he said, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and All Pakistan Textile Mills Association succeeded to get permission from the Government of Pakistan to import cotton from Wagha boarder. Almost half of the 2.4 million bales of cotton imported by Pakistan to overcome a domestic shortage was procured from India, he said.

According to the provisional data from the Federal Bureau of Statistics for the period from August last year to January 2008, this was highest-ever import of cotton in any year. The total value of imports from the US, India and Central Asia was Rs 30 billion, he said.

About 1.1 million bales worth Rs 15 billion were imported from India and the import of another 0.5 million bales is currently in the pipeline. However, after sudden and unpredictable increase in the international markets, now the Indian exporters are reluctant to fulfil the confirmed orders by Pakistani importers.

President FPCCI stated that both the neighbouring Saarc countries have gone through an agreement relating to cotton bales. Pakistan produced nearly 11 million bales during this crop season and many local traders see the next crop would be less than 12 million bales this year. Pakistan's annual demand stands at around 15-16 million bales.

India's current season cotton production was around 27 million bales while consumption was 23.5 million bales, leaving a surplus of 3.5 million bales. But India exported 4.5 million bales.

India cotton is being imported in Pakistan by sea and railways. It will be first time that it will be transported through trucks. Sheikh said present 55 trucks carrying perishables were coming every day from India, but none of trucks carrying cotton bales.

The increase in cotton prices in India and significant surge in its freight charges together were not allowing Indian traders to fulfil export orders to Pakistan in time.

Tanvir A. Sheikh said that delay in Indian cotton exports might also cause production and export problems for Pakistani textile units, as textile exporting units have committed for export orders on the basis of cotton import prices and volume from India. The increase in cotton prices and significant surge in its freight charges together were not allowing Indian traders to fulfil export orders to Pakistan in time, he said.

Pakistani importers, particularly the mills were facing shortfall, even the shipment orders of November-December 2007 were still in the pipeline with India and after freight increase this seems less possible for Indian exporters to proceed with the commitments.

The other reason behind delay in fulfilling orders reportedly is the heavy shipment to China from India. Tanvir A. Shiekh stressed the government and the concerned ministries of both the countries to intervene in the matter for the sustainable economic relations of both the countries.
 

rakeshmalik

Well-Known Member
Indian cotton exporters stop cotton supply to Pakistani buyers

Karachi, Mar 05, 2008 (Asia Pulse Data Source via COMTEX) -- The Indian cotton exporters are reluctant to fulfil their commitment with Pakistani buyers, because of increasing trend in international cotton market.

After hectic efforts FPCCI and APTMA had succeeded to get permission from the Pakistan government to import cotton from India through Wahga boarder.

Almost half of the 2.4 million bales of cotton imported by Pakistan to overcome a domestic shortage was procured from India. According to the provisional data from the Federal Bureau of Statistics for the period from August last year to January this year, it was highest ever import of cotton in any year. The total value of imports from the US, India and Central Asia was Rs 30 billion. It is notable that about 1.1 million bales worth Rs 15 billion were imported from India and the import of another 0.5 million bales is currently in the pipeline.

However, after sudden and unpredictable increase in the international markets, now the Indian exporters are reluctant to fulfil the confirmed orders by Pakistani importers. Tanvir A. Sheikh, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) showed it serious concern over this blockage, In a statement Wednesday, pakistan contracted deals at$.74.per pound with renowend exporters s n s imp&exp.co.ahuja globale cot & yarns.newdelhi.ishwar lal chiman bhai shah mumbai.he mentioned that such tactics will not only damage the creditability of Indian businessmen, it will also create obstacles in the politico-economic relations of the neighbouring countries.

Pakistan produced nearly 11 million bales. and its annual demand stands at around 15-16 million bales. Indias current season cotton production was around 27 million bales while consumption was 23.5 million bales, leaving a surplus of 3.5 million bales. But India exported 4.5 million bales.

Indian cotton used to be imported via ship and railways and it will be first time that it will be transported through trucks. At present 55 trucks carrying perishables are coming everyday from India, but none of trucks carrying cotton bales.

The increase in cotton prices in India and significant surge in its freight charges together were not allowing Indian traders to fulfil export orders to Pakistan in time.

Tanvir A. Sheikh stated that delay in Indian cotton exports might also cause production and export problems for Pakistani textile units, as textile exporting units have committed for export orders on the basis of cotton import prices and volume from India. The other reason behind delay in fulfilling orders is said to be the heavy shipment to China from India.

Tanvir A. Sheikh argued the government and the concerned ministries of both the countries to intervene in the matter for the sustainable economic relations of both the countries.
 
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