Sharad Jaipuria
Chairman & Managing Director
Ginni International Ltd
New Delhi
+919811083203
Tuesday, November 30, 2010
FW: news clipping
Monday, November 29, 2010
Cotton prices up despite rain
| Cotton prices up despite rain |
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| D Gopi / |
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Cotton prices in the open market this season have so far remained satisfactory, giving a sigh of relief to the growers. The incessant rain and flood that had marooned the fields initially dashed hopes of farmers as they feared that the crop would get discoloured and the price would fall drastically. However, the first round of sales that began in the third week of November saw farmers fetching remunerative prices as traders and millers picked up the product from various auction centres.
The Cotton Corporation of India (CCI) is still waiting at the auction centres for its turn to buy the stock at the minimum support price (MSP) of Rs 3,000 a quintal. Interestingly, the product is now being sold at the highest price of Rs 4,600 a quintal, which was recorded at the Adoni market yard in Prakasam district of the state. The price in the current season is ranging between Rs 3,500 and Rs 4,600 a quintal based on the colour. The cotton, which has lost its colour is getting slightly lower than the MSP. The discolour problem is only seen in the black cotton soil, which was affected by the incessant rains and water logging.
With the weather changing in the last two weeks, the first harvest from the black cotton soil has started arriving at the auction platforms. The harvest from the light black cotton soils and southern cotton soils that arrived at the auction platforms is doing well and the prices are more than the MSP. If the weather remains dry for the next couple of weeks, the prices are expected to cross Rs 4,800 to Rs 5,000 a quintal.
“We have positioned our personnel at all the auction platforms and if the price comes down near to the MSP, we would buy the product to support the farmers. But, as of now, farmers are on the safe side and there is no worry for them unless the crop gets discoloured or the moisture content increases beyond the permitted level of 8 to 10 per cent,” said CCI deputy general manager, S K Panigrahi.
This year, the CCI cleared 30 purchase centres in the state as against 39 in the 2009-10 season. The CCI had brought down its purchase centres mainly because the local spinning mills had increased their capacity and were buying more quantity.
The board has estimated cotton production at 32.5 million bales for the season 2010-11, as against 29.5 million bales in 2009-10. The increase in production comes on the back of increased acreage and the use of Bt seeds, the board said. Andhra Pradesh farmers are placed in a better position this season as the production in Gujarat, Madhya Pradesh and
So far, 4.6 million bales of cotton had arrived from various states by November 21, as against 4.8 million bales during the same period in 2009. Gujarat continued to top with arrivals in the current season at 1.4 million bales by November 21, followed by Maharashtra with 990,000 bales,
S K JINDAL (SR.G .M)
GINNI INTERNATIONAL LIMITED
NEEMRANA(RAJ)
Thursday, November 25, 2010
Tuesday, November 23, 2010
Cotton slumps to 4-week low on China growth
| Cotton slumps to 4-week low on |
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| Bloomberg / November 23, 2010, 0:32 IST |
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Cotton declined to a four-week low in New York and futures in Zhengzhou fell on speculation that global demand will decline as China, the biggest importer, takes steps to slow growth and as planting expands in India.
Cotton for March delivery dropped as much as 2.7 per cent to $1.198 a pound, the lowest price since October 22, on ICE Futures US in
“Like soybeans in
Cotton for May delivery slumped as much as 3.7 per cent to 26,185 yuan ($3,943) a tonne on the Zhengzhou Commodity Exchange and paused at 26,555 yuan.
On November 19, cotton in
The euro gained for a fourth day as European finance ministers said the deal will create a capital fund for Ireland’s banks and may end up “restructuring” the financial industry. The currency rose as high as $1.3752 from $1.3673 in
Monsoons in
S K JINDAL (SR.G .M)
GINNI INTERNATIONAL LIMITED
NEEMRANA(RAJ)
Sunday, November 21, 2010
Punjab spinning mills jostling for cotton stock
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| Komal Amit |
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The spinning industry in
The Group CEO of Saluja Exports V K Goyal told that during this part of the year, the spinning mills ideally have a stock of about 60 days, that has now decreased to 30-40 days.
Goyal added that, the forecast of increase in output to 32.5 million bales of cotton which is higher than last year’s output of 29.5 million bales, did not help the spinning units in running the spinning mills at full capacity.
“There is no gainsaying that the spinning units have been able to pass on the price revision of cotton but the margins are under immense pressure due to increasing cost of power, inflation and wages”. He added that the Government has allowed the export of 5.5 million bales that leaves 27 million bales for domestic market. Domestic consumption of 26 million bales would leave about 1 million bales as the opening stock for next year, which is too less.
According to Rana Polycot CEO M S Punni the increase in cotton price is a global phenomenon. Due to bad crops in
I
There is a perception among textile units in the north that the cotton prices would slide in mid-December. As a consequ
S K JINDAL (SR.G .M)
GINNI INTERNATIONAL LIMITED
NEEMRANA(RAJ)
Friday, November 19, 2010
FW: NYF/ COTLOOK INDICES/ICC AS ON 19TH NOVEMBER 2010
Sharad Jaipuria
Chairman & Managing Director
Ginni International Ltd
New Delhi
+919811083203
From: GALIAKOTWALA_MB [mailto:galiakot@bom3.vsnl.net.in]
Sent: Saturday, November 20, 2010 9:14 AM
To: galiakot@bom3.vsnl.net.in
Subject: REF: NYF/ COTLOOK INDICES/ICC AS ON 19TH NOVEMBER 2010
C. A. GALIAKOTWALA & CO. PVT. LTD.
66, MAKER CHAMBERS III, NARIMAN POINT, MUMBAI 400 021.
TEL : 91- 22 - 2284 37 58 FAX : 91- 22 – 2204 8801
REGD. OFFICE : 125, NAGINDAS MASTER RD., FORT, MUMBAI 400 001.)
TO : ALL CLIENTS DATE : 20 November 2010
ATTN : COTTON PURCHASE DEPARTMENT REF NO. : PRI/10036 O
PAGES : 1 + FAX NO. :
REF: NYF/ COTLOOK INDICES/ICC AS ON 19TH NOVEMBER 2010
NYF
MONTHS | HIGH | LOW | SETTLE | CHANGE | LAST MONTH | CHANGE | LAST YEAR | CHANGE |
DEC ‘10 | 133.90 | 127.90 | 127.90 | -600 | 110.26 | +1764 | 76.73 | +5117 |
MAR ‘11 | 129.15 | 123.15 | 123.15 | -600 | 105.21 | +1794 | 77.83 | +4532 |
MAY ‘11 | 123.67 | 118.39 | 118.39 | -600 | 103.61 | +1478 | 78.53 | +3986 |
JUL ‘11 | 118.02 | 112.99 | 112.99 | -600 | 101.92 | +1107 | 79.18 | +3381 |
OCT ‘11 | 104.00 | 101.70 | 102.28 | -536 | 90.64 | +1164 | 79.86 | +2242 |
DEC ‘11 | 90.44 | 87.68 | 88.21 | -287 | 86.98 | +123 | - | - |
MAR ‘12 | 87.95 | 85.88 | 86.39 | -219 | 84.88 | +151 | - | - |
MAY ‘12 | 86.95 | 86.95 | 85.37 | -196 | 84.18 | +119 | - | - |
JUL ‘12 | 86.74 | 86.00 | 85.89 | -114 | 83.43 | +246 | - | - |
OCT ‘12 | - | - | 82.24 | -91 | 82.73 | -49 | - | - |
| ESTIMATED TURN OVER 23,900 | | |||||||
COTLOOK .
| | U. S. CENTS PER LB C/ F F/E PORTS | CHANGE | LAST MONTH | CHANGE | LAST YEAR | CHANGE |
COTLOOK A INDEX (2010/11) | 159.05 | +5.05 | 127.60 | +31.45 | - | - |
ICC
MONTH | SETTLE | CHANGE |
| | | |
(*THE FIGURES IN BRACKETS ARE ON PER CANDY BASIS)
BEST REGARDS
Textile industry loses Rs 200 cr in strike
| Textile industry loses Rs 200 cr in strike |
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| T |
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Production at the knitwear hub of Tirupur in Tamil Nadu came to a halt on Friday due to a nationwide strike called by the textile industry in support of its demand for restriction on export of raw materials, including cotton and cotton yarn.
According to industry representatives, the textile units in the country will lose around Rs 200 crore units, while the Tirupur units will lose around Rs 40 crore due to Friday’s strike. They added that the recent price rise had led to 15-20 per cent drop in production and job loss of 25,000 people.
Tirupur Exporters Association (TEA) president A Sakthivel said around 3,000 units, largely small and medium enterprises (SMEs), were participating in the strike, while around 50,000 people had gone on a fast.
Tirupur accounts for over 70 per cent of cotton knitwear exports from the country, worth around $2 billion. The industry was estimated to grow 12 per cent every year, but the recent price rise in raw materials has come as a major obstacle. The industry provides direct and indirect employment to around 600,000 people in this town.
“The estimated loss to the industry due to the one-day strike is around Rs 40 crore, while the loss for the textile industry in
The Rs 55,000-crore textile industry in the country, including powerloom, handloom, made-ups and apparel markers, had called for a nationwide strike to draw the government’s attention to increasing yarn prices and to demand a ban on cotton exports.
Yarn prices have gone up by around 79 per cent to Rs 250 per kg from Rs 139 per kg during the same period last year. As a result, fabric prices have also shot up by 38 per cent to 90 per cent, leading to higher prices for apparel products. “We are not able to pass on the increase to the customers due to competition from
Sakthivel added that margins had come down by 15-20 per cent. “If we have to compensate for the raw material price increase, we have to raise our product price by 45 per cent, which customers are not willing to pay.”
“Production at Tirupur dropped 15-20 per cent due to the frequent rise in yarn prices in the last six months. Around 25,000 people lost their jobs,” said Sakthivel. Yarn prices rose because of “uncontrolled exports, without considering the domestic consumption needs”, he added
S K JINDAL (SR.G .M)
GINNI INTERNATIONAL LIMITED
NEEMRANA(RAJ)
Thursday, November 18, 2010
FW: Sharadji's interview with HT
Sharad Jaipuria
Chairman
Jaipuria Institute of Management
+919811083203
Subject: Sharadji's interview with HT
Sir,
Sharadji's interview with HT published today in Hindustan Times and report published in Indian Express of IIC2010 is attached herewith for your kind information please.
Kind regards,
R.K. Nair
Satellite to help govt review cotton prospects, exports
| Satellite to help govt review cotton prospects, exports |
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| Press Trust of |
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The government will use satellite technology to assess cotton prospects for the current season and review the export policy in the wake of rising prices of the natural fibre, a senior official said today.
"When the Cotton Advisory Board (CAB) meets, it will have an assessment based on the satellite imagery and the inputs of the Ministry of Agriculture," Textiles Secretary Rita Menon said on the sidelines of a Ficci function here.
The CAB, which has been constituted by the government to monitor domestic and international prices of cotton and cotton yarn, is likely to hold a review meeting either in December or January, she said.
The cotton season runs from October through September.
The government has allowed export of 55 lakh bales (170 kg each) of cotton for the current season without duty. Cotton prices are rising both in the international and domestic markets due to droughts and floods wiping out a lot of the cotton harvest in
There are projections of a record production of cotton at 325 lakh bales in 2010-11 against the estimated demand of 266 lakh bales.
The commodity prices in
The Textiles Secretary indicated that exports beyond 55 lakh bales may not be possible in the backdrop of the difficulties faced by the textiles industry.
"There are so many problems in the domestic market... I really can't think at this moment, upping the 55 lakh bales (exports)," Menon said.
While the textiles industry is up in arms against cotton exports, the Agriculture Ministry seems inclined to let the growers take advantage of the rising international prices.
The garment exporters had threatened yesterday that they would shut their operations to protest against cotton exports.
S K JINDAL (SR.G .M)
GINNI INTERNATIONAL LIMITED
NEEMRANA(RAJ)
FW: News clipping
Sharad Jaipuria
Chairman & Managing Director
Ginni International Ltd
New Delhi
+919811083203
From: S Kumar [mailto:s.kumar@ginniint.com]
Sent: Thursday, November 18, 2010 6:50 PM
To: 'Sharad Jaipuria'
Subject: News clipping
Kindly see the attached file.
FW: NYF/ COTLOOK INDICES/ICC AS ON 18TH NOVEMBER 2010
Sharad Jaipuria
Chairman & Managing Director
Ginni International Ltd
New Delhi
+919811083203
From: GALIAKOTWALA_MB [mailto:galiakot@bom3.vsnl.net.in]
Sent: Friday, November 19, 2010 9:27 AM
To: galiakot@bom3.vsnl.net.in
Subject: REF: NYF/ COTLOOK INDICES/ICC AS ON 18TH NOVEMBER 2010
C. A. GALIAKOTWALA & CO. PVT. LTD.
66, MAKER CHAMBERS III, NARIMAN POINT, MUMBAI 400 021.
TEL : 91- 22 - 2284 37 58 FAX : 91- 22 – 2204 8801
REGD. OFFICE : 125, NAGINDAS MASTER RD., FORT, MUMBAI 400 001.)
TO : ALL CLIENTS DATE : 19 November 2010
ATTN : COTTON PURCHASE DEPARTMENT REF NO. : PRI/10035 O
PAGES : 1 + FAX NO. :
REF: NYF/ COTLOOK INDICES/ICC AS ON 18TH NOVEMBER 2010
NYF
MONTHS | HIGH | LOW | SETTLE | CHANGE | LAST MONTH | CHANGE | LAST YEAR | CHANGE |
DEC ‘10 | 133.90 | 128.50 | 133.90 | +500 | 113.37 | +2053 | 76.35 | +5755 |
MAR ‘11 | 129.15 | 123.38 | 129.15 | +500 | 107.86 | +2129 | 77.45 | +5170 |
MAY ‘11 | 124.39 | 119.00 | 124.39 | +500 | 105.00 | +1939 | 78.15 | +4624 |
JUL ‘11 | 119.15 | 114.50 | 118.99 | +484 | 101.48 | +1751 | 78.80 | +4019 |
OCT ‘11 | 107.50 | 107.00 | 107.64 | +341 | 90.06 | +1758 | 79.50 | +2814 |
DEC ‘11 | 92.05 | 89.30 | 91.08 | +169 | 85.98 | +510 | - | - |
MAR ‘12 | 88.50 | 85.93 | 88.58 | +51 | 83.68 | +490 | - | - |
MAY ‘12 | - | - | 87.33 | +42 | 83.18 | +415 | - | - |
JUL ‘12 | - | - | 87.03 | +60 | 82.68 | +435 | - | - |
OCT ‘12 | - | - | 83.15 | +60 | 82.18 | +97 | - | - |
| ESTIMATED TURN OVER 25,300 | | |||||||
COTLOOK .
| | U. S. CENTS PER LB C/ F F/E PORTS | CHANGE | LAST MONTH | CHANGE | LAST YEAR | CHANGE |
COTLOOK A INDEX (2010/11) | 154.00 | -4.40 | 125.00 | 29.00 | - | - |
ICC
MONTH | SETTLE | CHANGE |
| | | |
(*THE FIGURES IN BRACKETS ARE ON PER CANDY BASIS)
BEST REGARDS
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