Maran against allowing further cotton exports

Maran against allowing further cotton exports

Press Trust of India / New Delhi November 02, 2010, 20:47 IST

Contrary to hints by Agriculture Ministry that it favours cotton exports beyond the 55 lakh bales limit set by the government, Textiles Minister Dayanidhi Maran today said that there was not enough surplus to ship the natural fibre outside the country.

"We do not have enough surplus cotton to export," Maran told reporters after participating in the convocation of the National Institute of Fashion Technology (NIFT) here.

He said the Textiles Ministry needed to ensure that there was adequate cotton for domestic consumption.

The government has allowed export of 55 lakh bales (170 kg each) of cotton for the current season.

However, Agriculture Minister Sharad Pawar recently said that the growers should be allowed to profit from the high prices of cotton prevailing in domestic markets.

According to the minister while the prices are running high, they are expected to decline after the US crop reaches global markets in February.

"Till then farmers should take advantage. We are going with the policy keeping this in mind," he said.

The government is likely to review the cotton export quota in December even as the textile industry is demanding ban on export of the fibre.

Maran said the primary focus of his ministry was to protect the domestic industry and the country should rather prefer exports of garments.

India's garments exports maintained were almost flat, withn a growth 0.04 per cent at $902 billion in August on year-on-year basis.

Cotton prices are rising despite projections of a record production in 2010-11 to 335 lakh bales. The domestic demand is estimated at 266 lakh bales.

 

 

        S K JINDAL (SR.G .M)

           

GINNI INTERNATIONAL LIMITED

 

         NEEMRANA(RAJ)

 

Allow sugar, cotton exports, says Pawar

Allow sugar, cotton exports, says Pawar

Sanjay Jog / Mumbai November 03, 2010, 0:11 IST

India will be a major beneficiary due to the rise in global prices of sugar and cotton, said Union agriculture minister Sharad Pawar.

He told Business Standard: “India will benefit a lot, as there are ample opportunities for exports. The Government of India will have to take a decision on exports of sugar after Diwali. Similarly, the government will soon have to take a call on cotton exports.”

Pawar said sugar production was expected to be 25 million tonnes at the end of the current crushing season (2010-11). Similarly, India would have increased cotton production. According to the Maharashtra State Cooperative Cotton Growers Marketing Federation, India is expected to have 32.5 million bales (a bale is 170 kg) of cotton production in 2010-11, against 29.2 mb in 2009-10. Besides, there is a carry forward stock of four mb.

Pawar said the sugar industry has repeatedly made a demand for allowing exports under the open general licence. “Currently, sugar prices in India are the lowest, compared to global prices. India and particularly growers will benefit when sugar prices are high in the international markets.”

Natural calamities, he said, had hit sugar production in China, Pakistan, Russia, Indonesia and Mexico. Similarly, the cotton crop has been severely affected in Pakistan and China. “This is a good opportunity for sugar and cotton growers in India, to meet the increased demand from these countries and thereby benefit due to soaring prices,” he reiterated.

Cotton growers have made a fresh appeal to the Centre to allow cotton export under the open general licence. Said N P Hirani, chairman of the Maharashtra State Cooperative Cotton Growers Marketing Federation: “It is high time the Centre removes the 5.5 million bales cap on cotton exports, especially when prices are showing an upward trend.”

 

 

        S K JINDAL (SR.G .M)

           

GINNI INTERNATIONAL LIMITED

 

         NEEMRANA(RAJ)

 

FW: NYF/ COTLOOK INDICES/ICC AS ON 02ND NOVEMBER 2010

Cotton prices again at new peak

 

 

Sharad Jaipuria

Chairman & Managing Director

Ginni International Ltd

New Delhi

+919811083203

 

From: GALIAKOTWALA_MB [mailto:galiakot@bom3.vsnl.net.in]
Sent: Wednesday, November 03, 2010 9:13 AM
To: galiakot@bom3.vsnl.net.in
Subject: REF: NYF/ COTLOOK INDICES/ICC AS ON 02ND 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      : 3 November 2010

 

ATTN   : COTTON PURCHASE DEPARTMENT              REF NO. : PRI/10023 O

 

PAGES :  1 +                                                                          FAX NO. :

                                         

 

REF: NYF/ COTLOOK INDICES/ICC AS ON 02^ND NOVEMBER 2010

                                                                                                                                                                 

NYF

MONTHS	HIGH	LOW	SETTLE	CHANGE	LAST MONTH	CHANGE	LAST YEAR	CHANGE
DEC ‘10	134.26	129.45	134.26	+500			75.33	+5893
MAR ‘11	129.45	125.12	129.45	+500			76.51	+5294
MAY ‘11	126.09	121.69	126.09	+500			76.91	+4918
JUL ‘11	123.00	118.00	123.00	+500			77.21	+4579
OCT ‘11	104.00	102.50	103.62	+262	CLOSED		77.71	+2591
DEC ‘11	95.27	92.67	94.34	+138			-	-
MAR ‘12	90.00	89.50	90.19	+49			-	-
MAY ‘12	-	-	89.19	+89			-	-
JUL ‘12	-	-	88.79	+49			-	-
OCT ‘12	-	-	86.72	+57			-	-
ESTIMATED TURN OVER 22,300

 

 

COTLOOK .

	U. S. CENTS PER LB C/ F F/E PORTS	CHANGE	LAST MONTH	CHANGE	LAST YEAR	CHANGE
COTLOOK A INDEX (2010/11)	147.00	+4.00	CLOSED		-	-

ICC

MONTH	SETTLE	CHANGE

 

(*THE FIGURES IN BRACKETS ARE ON PER CANDY BASIS)

 

 

 

 

BEST REGARDS

COTTON JUMPS: CHINA PRICE AT RECORD ON SUPPLY OUTLOOK

S K JINDAL

FW: NYF/ COTLOOK INDICES/ICC AS ON 01ST NOVEMBER 2010

Cotton at new high. already crossed 130 today.

 

 

Sharad Jaipuria

Chairman & Managing Director

Ginni International Ltd

New Delhi

+919811083203

 

From: GALIAKOTWALA_MB [mailto:galiakot@bom3.vsnl.net.in]
Sent: Tuesday, November 02, 2010 9:58 AM
To: galiakot@bom3.vsnl.net.in
Subject: REF: NYF/ COTLOOK INDICES/ICC AS ON 01ST 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      : 2 November 2010

 

ATTN   : COTTON PURCHASE DEPARTMENT              REF NO. : PRI/10022 O

 

PAGES :  1 +                                                                          FAX NO. :

                                         

 

REF: NYF/ COTLOOK INDICES/ICC AS ON 01^ST NOVEMBER 2010

                                                                                                                                                                 

NYF

MONTHS	HIGH	LOW	SETTLE	CHANGE	LAST MONTH	CHANGE	LAST YEAR	CHANGE
DEC ‘10	129.26	125.80	129.26	+400	98.02	+3124
MAR ‘11	124.45	121.01	124.45	+400	96.82	+2763
MAY ‘11	121.09	118.25	121.09	+400	96.62	+2447
JUL ‘11	118.00	115.28	118.00	+400	95.94	+2206
OCT ‘11	100.00	100.00	101.00	+209	88.04	+1296	CLOSED
DEC ‘11	92.96	91.20	92.96	+175	84.57	+839
MAR ‘12	-	-	89.70	+105	82.99	+671
MAY ‘12	87.00	87.00	88.30	+105	81.58	+672
JUL ‘12	-	-	88.30	+121	81.58	+672
OCT ‘12	-	-	86.15	+126	-	-
ESTIMATED TURN OVER 25,400

 

 

COTLOOK .

	U. S. CENTS PER LB C/ F F/E PORTS	CHANGE	LAST MONTH	CHANGE	LAST YEAR	CHANGE
COTLOOK A INDEX (2010/11)	143.00	+1.50	114.00	+29.00	-	-

ICC

MONTH	SETTLE	CHANGE

 

(*THE FIGURES IN BRACKETS ARE ON PER CANDY BASIS)

 

 

 

 

BEST REGARDS