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Cotton Association of India (CAI): Cotton Stocks To Decline By 12 Lakh Bales In FY'21-22

22 January 2022, Mumbai:

The Crop Committee, Cotton Association of India (CAI) has released its December estimate of the cotton crop for the season 2021-22. As per estimates, cotton stock in India is likely to drop by 12 lakh bales to 348.13 lakh bales against an earlier estimate of 360.13 lakh bales.

From October 2021 to December 2021, cotton stock in India is estimated to have reached 218.52 lakh bales. This includes arrivals of 140.52 lakh bales of 170 kg each import of 3 lakh bales of 170 kg each and the opening stock of 75 lakh bales of 170 kg .each each at the beginning of the season.

Stocks reach 113.77 by December 2021

By the end of December 2021, India is expected to have a cotton stock of 113.77 lakh bales of 170 kg. Of this, 65 lakh bales of 170 kg each will be available with the textile mills, and the remaining 48.77 lakh bales of 170 kg each with the CCI, Maharashtra Federation, and others.

From October 31-December 31, 2021, India’s cotton mills are estimated to have held 65.00 lakh cotton bales of stocks. The majority of this; 48.77 lakh bales of 170 kg each were held by the Cotton Corporation of India, Maharashtra Federation, MNS, Ginners, Traders, MCX, etc. In all, spinning mills and stockists are estimated to have held 113.77 lakh bales of cotton of 170 kg each.

Production to drop by 348.13 lakh bales in FY2021-22

During the 2021-22 season, India’s cotton production will reduce to 348.13 lakh bales of 170 kg each from its earlier estimate of 380.13 lakh bales, says CAI. Gujarat will see the highest decline in production of 5 lakh bales of 170 kg each.

It will be followed by Telangana and Karnataka with the decline of 2 lakh bales each. Rajasthan will see the lowest decline in production of 0.25 lakh bales.

Indias cotton stocks to decline by 12 lakh bales in FY2021 22

Consumption to increase to 345 lakh bales

CAI estimates, India’s domestic cotton consumption will increase to 345 lakh bales from 335 lakh bales during 2021-22. Exports are likely to reach 48 lakh as against the previous year’s export estimate of 78 lakh bales of 170 kg each.. Till September 2022, India will supply 438.13 lakh cotton bales of 170 kg each, estimates CAI.

The total cotton supply will include an opening stock of 75 lakh bales of 170 kg.

Imports to increase by 5 lakh bales

CAI estimates, India’s cotton imports during FY21-22 will increase by 5 lakh bales to 15 lakh bales of 170 kgs. each from the previous month’s import estimate of 10 lakh bales of 170 kg.

From October 2021 to December 2021, India’s cotton imports are estimated to decline to 140.52 lakh bales of 170 kg each Compared to the average cotton imports from October to December in the last five years, the current year’s cotton imports are likely to increase by 23.11 lakh bales of 170 kgs each compared to the average cotton arrivals of the corresponding months of the last five years.

 

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Cotton Association of India (CAI): Cotton Stocks To Decline By 12 Lakh Bales In FY'21-22

Amazon offers financial assistance to cash-strapped Future Retail (FRL)

22 January 2022, Mumbai:

Amazon Offers Fin Help to Future, Warns Against Selloff

ON HOLD:
FRL lenders hit pause on plans to sell small stores after failing to get implicit RIL backing.

Amazon Vs Future Retails- Delhi High Court Rejects Future Retails's Plea  For Interim Injunction Against Amazon-Read Order

Amazon Offers Fin Help to Future, Warns Against Selloff

ON HOLD
FRL lenders hit pause on plans to sell small stores after failing to get implicit RIL backing the proposed plan.
Amazon's letter prompted the lenders to hit pause on the proposal.
Credits: ET dt 21-01-2022

 

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Amazon offers financial assistance to cash-strapped Future Retail (FRL)

CAIT files petition before CCI: Seeking to block Amazon's deal to pick up Cloudtail 100% shareholding

 

17 January 2022, Mumbai:

Domestic traders' body the Confederation of Indian Traders Association (CAIT) has filed a fresh petition before the Competition Commission of India (CCI) to block the acquisition of Cloudtail India by Amazon Asia Pacific.

Last month e-commerce giant announced its plans to take full control of Cloudtail - the largest seller on its platform. It had approached the CCI for approval to acquire Narayana Murthy-led Catamaran Ventures stake in Prione which operates Cloudtail.

Cloudtail India Private Limited | LinkedIn

In its prayer to the commission CAIT said, "Pass an order blocking or keeping in abeyance the proposed combination of acquisition of Prone Business Services Pvt Ltd by Amazon Asia Pacific Resources Pvt Ltd in C-20210120893 till pendency of Case no. 40/2019".

ET

(The news article has not been edited by DFU Publications staff)

 

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CAIT files petition before CCI: Seeking to block Amazon's deal to pick up Cloudtail 100% shareholding

Cotton Prices: Tamil Nadu textile manufacturers to go on hunger strike over

20 January 2022, Mumbai:

Tamil Nadu Chief Minister M K Stalin on Wednesday urged the Centre to avert a crisis gripping the power looms, apparel, and home textile units in Tamil Nadu owing to the 11 percent import duty on cotton and asked the government to control the rising price of cotton and yarn, and save the industry.

These units may soon become unviable resulting in closure and consequent large-scale unemployment and industrial unrest in the State, he said 1 request you to urgently intervene in this matter to resolve this precarious situation that has widespread ramifications, the Chief Minister said in a letter to Union Textile Minister Piyush Goyal a copy of which was shared with the media.

Textile manufacturers in TN plan hunger strike on Jan 21; CM Stalin urges  Centre to curb cotton price | Headlines

The apparel and garment manufacturers in Tamil Nadu have been representing the grim situation of cotton and yarn price volatility and its adverse impact on the price of fabrics and garments the Chief Minister said in the letter.

He referred to his earlier letter seeking the removal of the 11 percent import duty on cotton to avoid further speculation in the coming months.

retail economictimes (The news article has not been edited by DFU Publications staff)

 

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Cotton Prices: Tamil Nadu textile manufacturers to go on hunger strike over

Ministry of Textiles (MoT) has approved 20 important projects costing Rs. 30 crore

18 January 2022, Mumbai:

Under the flagship programme National Technical Textiles Mission, the Ministry of Textiles (MoT) has approved 20 important projects totaling Rs. 30 crore in the fields of speciality fibres and geotextiles (NTTM).

The project was approved in a meeting presided over by Union Textiles Minister Piyush Goyal. Sixteen of the 20 research projects involve specialised fibres, including five in healthcare, four in industrial and protective applications, three in energy storage, three in textile waste recycling, one in agriculture, and four in geotextiles (infrastructure).

Ministry of Textiles clears 20 Strategic Projects in the areas of Specialty  Fibres and Geotextiles under the Flagship Programme National Technical  Textiles Mission (NTTM) | Odisha News | Odisha Breaking News | Latest  Odisha News

Various leading Indian institutes, centres of excellence, and government organisations, including IITs, DRDO, and BTRA, among others, took part in the session, which approved projects that are strategic for the development of the Indian economy and a step toward Atmanirbhar Bharat, particularly in the healthcare, industrial and protective, energy storage, textile waste recycling, agriculture, and infrastructure sectors.

"Building convergence with academics, scientists, and researchers is the need of the hour," Piyush Goyal stated to the distinguished group of Scientists and Technical Technologists. The focus should be on developing a structure of brainstorming around issue statements and focusing on worldwide high value-added goods.

Furthermore, recruiting big research initiatives in the country necessitates inter-ministerial collaboration." Last year, the MoT approved 11 research projects totaling Rs. 78.60 crore.

 

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Ministry of Textiles (MoT) has approved 20 important projects costing Rs. 30 crore

As the third wave of Covid-19 sweeps across India, fashion events and trade exhibits have been postponed

15 January 2022, Mumbai:

With the spread of Omicron across India, a flood of fashion and jewellery trade exhibits and events have been cancelled, just as many event firms had only lately resumed their schedules.

Many jewellery fairs, both consumer and business-to-business, were scheduled for January and February in preparation for the forthcoming wedding season, when fine jewellery is generally in high demand. However, due to Covid-19 worries, events like the Jewellery Show of India, which was planned to take place in Bengaluru from January 14 to 16, have been postponed.

Owing to safety concerns, some events have elected to postpone their forthcoming editions, while others have been forced to do so due to local rules. A weekend and evening curfew in Delhi implies that any weekend or evening gatherings are immediately postponed, and similar laws exist in other states, as well as limits on the number of people who can congregate in one spot.

Can Fashion Trade Shows Survive the Pandemic? | BoF

The organisers of the Home and Personal Care Ingredients Exhibition and Conference, which was scheduled for January 27 to 28, recently stated that it has been postponed owing to the pandemic for safety considerations. The Cosmohome Tech Expo, which was slated to take place in Mumbai from February 3 to 4, has also been postponed.

In several regions, business-to-customer retail events are also being postponed. The Haat, a fashion event that introduces new audiences to Indian designers, has postponed its January Raipur and Kolkata editions, according to a Facebook announcement.

"In the light of the recent coronavirus epidemic in Kolkata and Raipur, the government has issued an advice prohibiting mass assembly in public locations," according to a statement from The Haat.

"As soon as the issue is under control, we will notify you of the future dates." Because shopping events like The Haat focus on emerging and smaller businesses, a delay of shopping fairs may compound the financial challenges that these labels are already facing.

 

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As the third wave of Covid-19 sweeps across India, fashion events and trade exhibits have been postponed

CRISIL report: INDIA’S CORPORATE PROFITABILITY DROPS 120 BPS IN Q3

19 January 2022, Mumbai:

 

India’s corporate profitability dropped 100-120 basis points (bps) year on year and 70-100 bps sequentially in the third quarter of this fiscal, as per a CRISIL survey report. Revenues for RMG Garments and cotton yarn makers increased by 30-35 percent year on year amid higher exports.

In an analysis of 300 companies, excluding those in the financial services, and oil and gas sectors, CRISIL Research notes the a-year decline in 12 quarters. As many as 27 of 40 sectors tracked by the agency are likely to see a contraction in their EBITDA margins.

EBITA - Overview, Significance, How To Calculate, Example

Margins in consumer discretionary sectors fell by 130-150 bps on-year, and in export-linked by 200-250 bps. For the first nine months this fiscal, EBITDA margin rose by 80-100 bps a year to 22-24 percent, aided by the low base of last year.

Corporate revenue grew by a healthy 16-17 percent to Rs 9.1 lakh crore, driven by surging commodity prices. Volume growth continued to underperform through price hikes provided some offset, added CRISIL

 

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CRISIL report: INDIA’S CORPORATE PROFITABILITY DROPS 120 BPS IN Q3

Piyush Goyal: Clock $650 billion Exports this FY, is doable

18 January 2022, Mumbai:
The semblance is $400 bn targets of merchandise exports is looking like happening.

Goyal exhorts service sector should strive for achieving $250 bn exports

Government is fully supportive in terms of policy intervention and hand-holding wherever required besides assuring support to EPCs.

Commerce and industry minister Piyush Goyal expressed confidence on Monday that it is workable to hit exports of $650 billion in this financial year, as In December alone country touched 7 billion goods exports despite Omicron's concern weighing on the global economy as of now. India achieved $300 billion merchandise exports in the first nine months of this fiscal.

Export Promotion Councils in India # By SN Panigrahi - YouTube

Chairing a review meeting of all major Export Promotion Councils (EPCs), the minister said the $400 billion targets of merchandise exports is almost likely to happen & exhorted that the services sector should aim for delivering $250 billion exports.

Goyal gave confidence & assurance to the EPCs that govt will do whatever It takes for hand- molding the EPCs and resolving their issues to ensure we are up there.

Goyal also alluded optimistically that we would do a much higher goods exports target in the ongoing last quarter of his fiscal.

 

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Piyush Goyal: Clock $650 billion Exports this FY, is doable

Future Retail's Recovery Process: Lenders look to sell small stores

15 January 2022, Mumbai:

Lenders of Future Retail are likely to seek buyers for the small-format stores to recover dues amounting to Rs 3494.5 crore after the Kishore Biyani promoted hypermarket failed to honour payments scheduled on 31 December, said two people aware of the matter.

Big Bazaar - Wikipedia

Banks led by the State Bank of India may soon invite expressions of interest for the small format chains - Easyday in Northern India and Heritage Fresh in Southern India, they said.

The lenders may take this step since the account would be classified as a non-performing loan if the payment does not come through during the grace period that ends on January 30 as per the one-time restructuring scheme signed between them and Future Retail in April 2021.

ET (The news article has not been edited by DFU Publications staff)

 

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Future Retail's Recovery Process: Lenders look to sell small stores

India Inc Better at Dealing with 3rd Wave: On The Back of Hindsight Learning

19 January 2022, Mumbai:

Manufacturers are better able to manage supply-chain issues and deal with a curtailed workforce, but hospitality feels the pinch.

Unlike the first

Two waves of Covid-15, India Inc has managed to take the current rise in Covid-19 infections largely in its stride and ensured relatively less disruption to business even as restaurants, hotels, and multiplexes face hurdles on account of curbs on indoor gatherings and weekend lockdowns.

Chart: How Contagious is the Coronavirus? | Statista

The experience gained by dealing with the previous two Covid outbreaks is helping manufacturers better manage supply-chain Issues and deal with a curated workforce, reports show.

What also helps is that there are comparatively fewer restrictions on the movement of people and goods compared with the previous waves, allowing retail to keep ticking.

 

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India Inc Better at Dealing with 3rd Wave: On The Back of Hindsight Learning

TAKE ACTION AGAINST MCX, NYCE SPECULATORS, URGE COTTON STAKEHOLDERS

13 January 2022, Mumbai:

Stakeholders in the Indian cotton industry have urged the Central government to take immediate action against MCX and NYCE speculators for hedging and trading of Cotton Kapas.

In a letter to the Prime Minister, R C Jain, Chairman, TT Ltd writes, Piyush Goyal, Union Minister of Textile and Railways had called a stakeholders’ meeting in November to discuss the issue of hike in cotton prices despite an unprecedented yield this year.

Unauthorized speculation a worry

The meeting had concluded price rise is mainly a result of the unauthorized speculation indulged in by MNC hoarders and Indian speculators for monetary gains at the cost of entire textile industry in India. Price rise had halted cotton exports for a few weeks in November. Export of garments and all other accessories also are badly affected due to the new Omicron and COVID waves.

Stakeholders have questioned the government’s failure to include cotton in the list of banned agricultural commodities for hedging and trading on MCX and NYCE to stop speculations on cotton prices.

The hedging and trading on MCX and NYCE have led to 80 per cent rise in cotton prices in the last three months and still continues to rise, stakeholders say.

India Take action against MCX NYCE speculators urge cotton

Any failure to take action against these activities by the government may lead to halt in power, hosiery and apparel industry activities in the country, they add. Jain has urged the PM to take immediate action to stop hedging and trading of Kapas and cotton by speculators on MCX and NYCE.

 

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TAKE ACTION AGAINST MCX, NYCE SPECULATORS, URGE COTTON STAKEHOLDERS

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