India New Season Arrivals as on 01/08/2017: State wise Arrivals Just Agri (Lakh Bales)2016-17 Just Agri (Lakh Bales)2015-16 Punjab 09.00 05.50 Haryana 21.00 14.75 Rajasthan 18.00 15.40 Gujarat 82.60 76.75 Maharashtra 96.40 67.60 M. P. 20.82 18.30 A.P. 18.70 21.82 Telegana 49.72 57.62 Karnataka 16.18 17.22 Orissa 03.00 03.00 Other 02.40 06.50 Total 337.82 304.46 Cotton Sowing Report as on 28/07/2017 State wise Arrivals Central Agri Ministry (Lakh hact.) 2017-18 2016-17 Punjab 03.820 04.000 Haryana 06.560 06.000 Rajasthan 06.150 06.000 Gujarat 25.840 20.380 Maharashtra 40.120 36.270 M. P. 05.730 05.270 A.P. 03.400 02.850 Telengana 16.800 11.220 Karnataka 03.850 03.620 Tamilnadu 00.054 00.033 Other 01.716 01.430 Total 114.040 97.073 GUJARAT: The State Agri ministry report showed that on 17th July Cotton Sowing in Gujarat had increased by 39% to 24,46,800 Hectors ( 17,60,700 hectors same time last year). Last 3 year average was 27,25,800 hectors. IMD reports showed Jun 1-Jul 17 rainfall as294.6 mm, 19% above normal. In the last week of July, torrential rain and floods in Gujarat has hurt sowing and has resulted in damage to some of the cotton crop where sowing had been completed. Around 25% of land sown with cotton is feared to be affected. Banaskantha,…
Surat : Post GST, in two fortnights, the prices of polyester synthetic yarn have reached at a new height. The POY prices rose by 7% and yarn manufacturers have increased various deniers prices from Rs 5 to Rs 10 per kilogram in the first sale of August. The powerloom weavers of the city are worried about the hike in yarn prices. Sources said, weavers are already disturbed by 5 per cent GST on job work, 18 per cent GST on yarn and now on the other hand yarn spinners are continously increasing yarn prices. Industry sources said, there is no rational behind increasing the yarn prices, when the companies are well aware of the fact that there is no such movement in the market. The small weavers, who are operating 12-24 powerloom machines are hugely affected by the tax on job work. Now, the increased yarn prices are further cause of worry for thousands of small-time weavers. During last month, before GST, yarn manufacturers has increased the prices of crimp, Roto and FDY deniers based yarn upto Rs. 3/kg. Now, in August first sale, they have further increased yarn prices upto Rs.10/kg. This will adversely affect the industry and the…
Woven fabric exports were down 4 per cent both in terms of shipment and value and 11 per cent in May 2017. Shipments aggregated 361 million sq meters during the month valued at US$268 million or INR1,700 crore. Total domestic production in all sectors was at 5,335 million sqmotres during May, implying exports accounting for about 7 per cent for the month. Unit value realization averaged US$0.74 per sqmetre in May 2017, the same as in May 2016 but down Rs 2 in Rupee terms at INR 47.30 per sq. metre. This May 141 countries imported woven fabrics from India, with Bangladesh being the largest importer, followed by UAE and Sri Lanka. The thee together accounted for 35 per cent of total woven fabrics during the month. In May 2017, 11 countries did not import any fabric from India as they did last year. However, they were replaced by 18 countries which imported fabric worth US$4.6 million this May. Afghanistan, Hungary, Suriname, Lithuania, Malta, Denmark, Austria, Maldives, Nepal and Estonia were the 10 fastest growing markets for woven fabrics, and accounted for 3 per cent of total value exported in May. Cotton Fabrics Dominates Woven fabrics made of 100% cotton…
Crude Oil: Price gains on easing oversupply concerns Crude oil posted its biggest weekly gain in the last week of July this year since late May with a hike on Friday as data this week eased concerns about surplus supplies, after Saudi Arabia pledged to lower imports while U.S. crude supplies fell more than expected.The market was strengthened by larger than expected inventory drawdowns on Wednesday and signals from Saudi Arabia that the world's biggest oil producer would further reduce output in August.Saudi Arabia pledged earlier this week to lower crude exports to 6.6 million barrels per day (bpd) in August, almost 1 million bpd below the level last year.The US crude futures settled at US$49.71 a barrel, up US$3.94 from previous week while European Brent crude futures settled at US$48.06 a barrel, rose US$4.46on the week. U.S. crude futures gained 8.6 percent for the week while Brent climbed 9.3 per cent. The gains in Brent pushed the difference between the two benchmarks to the widest in two months. Oilfield services firm Baker Hughes reported its weekly count of oil rigs operating in the United States ticked down by two rig to a total of 766. For the month, 10…
Cotton Sowing Report as on 13/07/2017 State wise Arrivals Central Agri Ministry (Lakh hact.) 2017-18 2016-17 Punjab 03.850 02.560 Haryana 06.560 04.980 Rajasthan 04.900 03.680 Gujarat 19.900 13.650 Maharashtra 31.360 29.910 M. P. 04.880 05.000 A.P. 02.850 02.030 Telengana 13.650 09.410 Karnataka 02.410 03.100 Tamilnadu 00.050 00.030 Other 01.340 00.970 Total 91.750 75.320 Domestic Market Summary: Starting from mid-June, most textile mills had reduced their cotton procurement to maintain minimum inventory before the Goods and Services Tax (GST) came into force on 1st July 2017.Since then, the mills have not been able to cover mush cotton due to various reasons. 1) Because of insufficient rains in many cotton growing centres of India (parts of Gujarat, M.P., Maharashtra, Telangana, A.P., Karnataka, etc), the sellers were not very keen to off load quality cotton stocked in ware houses. As a result, prices of good quality varieties ruled stronger. 2) Fall in yarn demand since March has weakened the mills purchasing capacity. The situation has worsened post GST as the yarn prices have fallen by Rs 5 to Rs 8 per kg in many counts. 3) Mills with lower reserves/lower cotton stocks and high interest burden have started facing cash losses. All of…
Crude Oil Crude oil prices plunged to 5-month lows in May amid record trading volume in Brent crude, as OPEC and other producers apparently ruled out deeper production cuts to reduce the global bloating inventories and supply glut.Prices were also pressuredon worries that US President's withdrawal from the climate accord could accelerate US production and flood the global oil market. US crude prices declined 5.3% on the month while Brent was down 4.9%as compared to previous month’s average. US Futures averaged US$48.49 a barrel, down US$2.72 from Apriland Brent averaged US$51.30a barrel, down US$2.63 on the month.Asian naphtha market continued its downward trajectory as cracks declined due to increasing length and softening demand. Reports from traders said that the market is getting weaker. The market remained soft, as cargoes continued to flow out from India, and less-than-expected demand was seen from Taiwan as it had last bought 100,000 ton for H2 June delivery.ForMay, spot naphtha prices fell 7.9% on the month to average US$439.58 a ton CFR Japan. Polyester Chain Ethylene prices continued to plunge in Asian markets, touching their 16-month lows in May under pressure from rising supply.In Europe, spot ethylene prices declined as markets remained bearish ahead of…
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