Sharad Jaipuria
Chairman & Managing Director
Ginni International Ltd
New Delhi
+919811083203
From: S Kumar [mailto:s.kumar@ginniint.com]
Sent: Friday, December 31, 2010 11:20 AM
To: sharad.jaipuria@ginniint.com
Subject: News clipping
Kindly see the attached file.
Sharad Jaipuria
Chairman & Managing Director
Ginni International Ltd
New Delhi
+919811083203
From: S Kumar [mailto:s.kumar@ginniint.com]
Sent: Wednesday, December 22, 2010 4:14 PM
To: 'Sharad Jaipuria'
Subject: News clipping
Kindly see the attached file.
| DGFT to again authorise cotton exports; revised rules coming |
| |
| Dilip Kumar Jha / Mumbai December 18, 2010, 0:19 IST |
| |
The Directorate General of Foreign Trade (DGFT) has taken back the power for registration, inspection and clearance of cotton exports from the Textile Commissioner under the textile ministry. DGFT works under the commerce ministry.
DGFT registers, inspects and certifies shipments. The process is mandatory for all exports. DGFT had transferred this authority for cotton to the Textile Commissioner in August this year.
“We do not have any comment to offer,” said Textile Commissioner A B Joshi. DGFT is learnt to be in the process of issuing revised guidelines for cotton exports on Monday, with two changes from the rules issued by the Textile Commissioner.
First, DGFT may allow exports strictly under letter of credit (LC) from banks, equal to the value of the export. On Friday, a trader can export in multiples of the quantity of LC from banks. Second, DGFT may reduce the period between registration and shipment from 45 days to 30 days. These were the demands of the textile industry, said a senior official of a garment export house.
With bumper cotton production on the cards, the government is considering raising the year’s export ceiling to nine million bales (a bale is 170 kg) from 5.5 million bales. This has been a demand of cotton growers, who want to benefit from high global prices. Cotton output this year is estimated at 32.5 million bales, as against 29 million last year.
With the existing registration period over on December 15, fresh registrations for exports are likely to begin soon.
S K JINDAL (SR.G .M)
GINNI INTERNATIONAL LIMITED
NEEMRANA(RAJ)
Sharad Jaipuria
Chairman & Managing Director
Ginni International Ltd
New Delhi
+919811083203
From: GALIAKOTWALA_MB [mailto:galiakot@bom3.vsnl.net.in]
Sent: Thursday, December 16, 2010 9:43 AM
To: galiakot@bom3.vsnl.net.in
Subject: REF: NYF/ COTLOOK INDICES/ICC AS ON 15TH DECEMBER 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 : 16 December 2010
ATTN : COTTON PURCHASE DEPARTMENT REF NO. : PRI/10054 O
PAGES : 1 + FAX NO. :
REF: NYF/ COTLOOK INDICES/ICC AS ON 15TH DECEMBER 2010
| | U. S. CENTS PER LB C/ F F/E PORTS | CHANGE | LAST MONTH | CHANGE | LAST -EAR | CHANGE |
COTLOOK A INDEX (2010/11) | 173.30 | +3.20 | 162.60 | +10.70 | - | - |
MONTH | SETTLE | CHANGE |
| | | |
(*THE FIGURES IN BRACKETS ARE ON PER CANDY BASIS)
BEST REGARDS-
| Cotton output likely to be around 325 lakh bales |
| |
| Press Trust of |
| |
Cotton output in
"I am sure that it will not be less than 325-lakh bales," Textile Commissioner, A B Joshi, said at a FICCI-organised event on sports textiles here.
Concerns have been expressed in the past few months about cotton production in the country likely to get affected following unseasonal rains.
"Yes, rains had a damaging effect on cotton output, especially in regions like Andhra Pradesh which was hit by cyclonic showers. But as a counter, production from other pockets like Maharashtra has been very high and rains have in fact, helped increase the output," Joshi said, indicating that it is a mixed-bag sort of situation.
The Cotton Advisory Board (CAB) had made a prediction in August that production could be around 325-lakh bales.
Various industry bodies have given different estimates ranging from 300-lakh bales to 350-lakh bales, indicating divergent views on the impact of the rains on cotton production.
The CAB's prediction is generally very sound and historically it has not gone wrong, the Textile Commissioner said, adding a review of the estimate will be done at a CAB meeting to be held shortly.
The cotton crop in
The crop starts hitting the market from October onwards.
S K JINDAL (SR.G .M)
GINNI INTERNATIONAL LIMITED
NEEMRANA(RAJ)
By Our Special Correspondent
MUMBAI, DEC. 13—
The Group of Ministers
(Agriculture, Commerce, Finance and Textiles) will meet in capital this week to take a call on the extension of cotton exports. The deadline to ship cotton from the country is 15 December 2010, it may be noted here. The government on 28 September 2010 had permitted exports of 55 lakh bales of raw cotton during the 2010-11 cotton season. The 45-day shipment beginning 01 November 2010 gets over on 15 December 2010. Of the 55 lakh bales, only 25 lakh bales would be exported till the 15 December 2010 deadline and balance 30 lakh bales will remain un-shipped. The government therefore has to decide whether export extension should be given or not?
Reliable industry sources are of the opinion that extension will not be given. And in absence of extension, the cotton prices are expected to decline rapidly on account of increasing cotton arrivals in the country. The total arrival of cotton till 30 November 2010 has been to the order of 72 lakh bales, it may be noted here. On the price front, S-6 which had peaked to the level of Rs. 48000 per candy is now
quoted at Rs. 40500 per candy. And within 15 days, it will reach the level of Rs. 38000 per candy provided cotton exports are kept in abeyance, sources opined.
The downward price trend is imminent. The daily arrivals have surpassed the level of 2.25 lakh bales and this trend is expected to continue during December and January 2010 and will tamper down thereafter. The decline in cotton prices will bring relief to the cotton spinners. The lower cotton prices levels will continue in the long run provided cotton exports are not permitted immediately and are allowed after Jan-end, sources pointed out.
Another important policy decision likely to be taken by GoM will be of releasing additional quantity of cotton for exports. The Agriculture Minister will be pressing for higher cotton quantity for exports. Will the other Ministers, heed to the demand of additional cotton
export quota? The outcome will be keenly awaited by all cotton stakeholders. The decision of cotton export will depend on the cotton production in the country. And the production estimates now being churned out are diverse by the stake holder. While the cotton trade has estimated cotton production at 347 lakh bales, the mill industry forecasts cotton production at 300 lakh bales. Reliable sources informed that untimely rain has had an impact on cotton. The quality has gone down but quantity is not largely affected. The maximum production loss would range between 8-10 lakh bales.
Obviously, the final call on cotton production will be taken by CAB in next meeting.
[Saurabh Jain]
INTERNATIONAL COTTON PRICES ARE ONCE AGAIN RULING HIGH
Sharad Jaipuria
Chairman & Managing Director
Ginni International Ltd
New Delhi
+919811083203
From: GALIAKOTWALA_MB [mailto:galiakot@bom3.vsnl.net.in]
Sent: Monday, December 13, 2010 8:58 AM
To: galiakot@bom3.vsnl.net.in
Subject: NYF/ COTLOOK INDICES/ ICC AS ON 10TH DECEMBER 2010 (WEEKLY CHANGE)
C. A. GALIAKOTWALA & CO. PVT. LTD.
66, MAKER CHAMBERS III, NARIMAN POINT, MUMBAI 400 021.
TEL : 91- 22 - 2284 3758 FAX : 91- 22 – 2204 8801
TO : ALL CLIENTS DATE : 13 December 2010
ATTN : COTTON PURCHASE DEPARTMENT REF NO. : WKP/10011O
PAGES : 1 + FAX NO. :
REF: NYF/ COTLOOK INDICES/ ICC AS ON 10TH DECEMBER 2010 (WEEKLY CHANGE)
MONTHS | SETTLE 3RD DECEMBER | SETTLE 10TH DECEMBER | WEEKLY CHANGE |
DEC ‘10 | 142.33 | - | - |
MAR ‘11 | 132.34 | 136.97 | +463 |
MAY ‘11 | 127.50 | 129.23 | +173 |
JUL ‘11 | 123.08 | 120.84 | -224 |
OCT ‘11 | 107.11 | 104.07 | -304 |
DEC ‘11 | 95.61 | 94.51 | -110 |
MAR ‘12 | 90.06 | 89.91 | -15 |
MAY ‘12 | 89.41 | 88.66 | -75 |
JUL ‘12 | 89.46 | 88.46 | -100 |
OCT ‘12 | 85.27 | 84.21 | -106 |
DEC ‘12 | - | 83.21 | - |
| | U. S. CENTS PER LB CFR F/E PORTS 3RD DECEMBER | U. S. CENTS PER LB CFR F/E PORTS 10TH DECEMBER | WEEKLY CHANGE |
| COTLOOK A INDEX (2010/11) | 155.75 | 164.70 | +8.95 |
MONTH | SETTLE | SETTLE | WEEKLY CHANGE |
| | | | |
BEST REGARDS
