Cotton

Imported pulses end up in Mumbai
Mumbai - Burma urad FAQ gained slightly by Rs 15-25 per quintal in the last session of trade at the Mumbai pulses market. Australia and Tanzania chana moved up by Rs 25 per quintal on some local baskets.

Cotton futures recover sharply
Mumbai - Tracking overnight gains in the US commodity market and firm prices in domestic spot market, cotton futures closed with sharp gains amid short-covering and buying by traders during intraday trading

10/04 16:26 Cotton lint steady in west India

10/04 15:28 Cotton lint gains in north India

10/04 10:43 Cotton futures turn positive

10/04 09:30 World cotton import demand trends higher.

Chilli, jeera futures end up sharply
Mumbai - Red chilli futures closed with sharp gains while jeera and black pepper recovered sharply to close the session in green following heavy buying by traders and speculators during intraday sesion.

10/04 15:01 Spot turmeric trades stronger

10/04 14:51 Jeera trades steady in spot market

10/04 13:34 Red chilli jumps on short arrivals

10/04 13:29 Spot black pepper drops on Vietnam

Sugar futures recover sharply
Mumbai - Sugar futures closed with sharp recovery following fresh buying by traders and speculators during intraday session on the National Commodity and Derivatives Exchange [NCDEX] Thursday.

10/04 16:55 Gur futures end with sharp gains

10/04 15:10 Sugar trades weaker in Delhi

10/04 15:06 Spot sugar declines in Mumbai

10/04 17:15 Gur trades higher in Muzaffarnagar

B’desh tenders to import 100,000 tonnes of wheat

Dhaka, April 12: Bangladesh has issued a tender to import 100,000 tonnes of wheat by the end of June to meet domestic demand, an official said on Saturday.

The tender issued by the Food and Disaster Management Ministry, will close on April 29 and will run until May 19, for shipment within 30 days of the date of signing the contract.

The tender price has to be quoted separately for the country's Chittagong and Mongla ports, based on the cost of cargo, insurance and freight including stevedoring on the seller's account, at the both ends of the shipment

Soaring inflation in India needs immediate attention: IMF

Washington, April 12: Describing the soaring inflation in India as "a politically hot issue", the International Monetary Fund (IMF) on Saturday asked the Indian government to take immediate steps to arrest prices before the problem becomes entrenched and spills over.

Referring to the recent IMF reports on global and regional economy which said inflation was on the higher side and requires immediate attention, senior advisor in the IMF Asia & Pacific Department Kalpana Kochhar said, "At 7.5 per cent (inflation rate in India) it may not seem very high but politically it is a hot issue".

Kochhar said, "It was mainly due to food, fuel and some metals. Activities have come off a fast pace but are still pretty strong." It was critical to deal with the issue of inflation before it becomes entrenched and spills over, she added.

The annual rate of inflation in India, which was below 4 per cent in January soared to 7.41 per cent towards the end of March and is expected to move up further before beginning to cool down. Rising prices forced the government to take host of steps including banning export of non-basmati rice, pulses, edible oil and cement to contain inflation.

High inflation rate has already taken a political tinge in the country with the opposition Bharatiya Janata Party and Left allies accusing the government of its failure to check price rise.

Also, the issue is likely to caste a shadow on the upcoming assembly elections and finally the General Elections scheduled early next year.

Stock control not applicable to imported edible oil: SEA
New Delhi - The Central government's recent order to empower provinces to impose limits on stocking of select foodgrains and edible oils will not be applicable to imported edible oils.

12/04 14:29 Edible oils settle up on fresh buying

12/04 14:24 Desi tur weak in Maharashtra

12/04 13:57 Gold, silver settle up on MCX

12/04 13:45 Black pepper futures dip heavily

Cotton futures close mixed
Mumbai - Cotton futures closed mixed following their narrow-range movement and cautious buying by traders and speculators during last session of the week on both the domestic exchanges Saturday.

12/04 14:31 Cotton lint steady in west India

12/04 14:28 Cotton lint prices up in Punjab

12/04 10:26 Cotton futures note marginal gains

12/04 09:04 ICE cotton dips on weak grains

Number of Bt cotton growers surges
ISLAMABAD (April 13 2008): The government is working on an agreement with a leading foreign seed company for introducing latest biotech cotton related technologies, which is being grown in many parts of Sindh and Punjab.

According to a survey conducted by Institute of Agri-Biotechnology and Genetic Resources National Agriculture Research Centre in 10 districts of Sindh, the cotton growers and the textile industry showed their willingness for the introduction of Bt Cotton in the country.

The institute surveyed and collected samples of cotton from 42 different locations in Sindh including Hyderabad, Nawabshah, Sanghar, Mirpur Khas, Dera Allah Yar, Umer Kot, Matiari, Khairpur, Sukkur and Nowshero Feroze. In Punjab 11 districts including Multan, Khanewal, Lodhran, Bhawalpur, R.Y. Khan, Vehari, Bhawalnagar, Pakpattan, Sahiwal, Jhang, and Faisalabad were surveyed and samples were collected from 84 different locations.

"As plantation of the Bt cotton helps in reducing expenditure on pesticide and raises per acre yield, farmers have brought in Australian seeds and are using them since a couple of years," a cotton grower explained.

According to an another report released by the International Service for the Acquisition of Agri-Biotech Applications (ISAAA), planting of biotech crops in 2007 grew by 12 percent or 12.3 million hectares (30 million acres) to reach a record planting of 114.3 million hectares (282.4 million acres). The Bt Cotton plantation in India has also increased from just 50,000 hectares in 2002 to 6.2 million hectares.

The number of farmers opting for sowing Bt cotton also surged from 54,000 in 2002 to 3.8 million in 2007. The ISAAA reports that farmers in many countries are planting more biotech crops than ever before. Two new countries, Chile and Poland, were included in the list of 23 countries where farmers planted biotech crops in 2007.

Spot rate regains on lacklustre cotton market
RECORDER REPORT
KARACHI (April 13 2008): Prices turned stable on the cotton market on Saturday as the spot rate started showing recovery with modest rise due to rising fears about the size of crop, some brokers said.

The Karachi Cotton Association (KCA) official spot rate was up by Rs 25 to Rs 3300. Phutti prices in both Sindh and Punjab held the overnight levels at Rs 1200-1600. Nearly 1800 bales of cotton changed hands between Rs 3375-3550.

Some brokers said that mills were active to cover the near-term demand, which pushed the prices up despite the lower trend in the NY cotton market. In the meantime, it was observed that the prices of fine quality of cotton did not show any weakness but some ginners, who have big stock of inferior quality, tried to sell below their psychological levels, they said. It is likely that the prices might show firmness ahead of the final arrival cotton figure, they added.

On Friday, cotton futures settled as the ICE Futures May cotton contract dropped 0.59 cent to end at 74.16 cents per lb, trading from 73.65 to 74.77 cents. It was an inside day as the range held within Thursday's 73.14 to 75.73 band. New-crop December cotton fell 0.32 cent to 85.08 cents, dealing from 84.25 to 85.28 cents which was likewise within the previous session's range of 83.50 to 86.15 cents.

The following deals finalised : 600 bales of cotton from Rahim Yar Khan sold at Rs 3375, 1000 bales from Gallaywal sold at Rs 3550 and 200 bales from Khanpur Mehar at Rs 3470, dealers said.

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The KCA Official Spot Rate for Local Dealings in Pak Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"
MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Rate Ex-Gin Upcountry Spot Rate Ex-Karachi
for Price Sales Tax @ 15%
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37.32 Kgs 3300.00 50 3350.00
Equivalent-------------------------------------------------
40 Kgs 3537.00 50 3587.00
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