Due to new CCI guidelines, cotton procurement in the former Karimnagar was halted.The cotton procurement process has come to a complete halt in the erstwhile Karimnagar district as all 11 ginning mills in the region have suspended operations in protest against the recently introduced guidelines by the Cotton Corporation of India (CCI).The new CCI guidelines mandate a sequential allocation of mills using a serial numbering system (L-1, L-2, L-3, etc.), with procurement starting at the first mill and progressing according to the assigned order. Mill owners argue that this policy could disadvantage those assigned lower numbers, leaving them without sufficient cotton for purchase once higher-priority mills have completed their intake.Since Monday morning, the suspension of procurement has affected all 11 ginning mills in the district. However, officials remain optimistic that the issue will be resolved soon, as discussions between CCI representatives and mill owners are currently underway.
Rupee falls 1 paisa to all-time low of 84.38 against dollar in early tradeThe rupee slipped 1 paisa to an all-time low of 84.38 against the US dollar in early trade on Monday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities.Read More :> Cotton Prices Soar to ₹7,500 as Cotton Corporation of India Begins Procurement at Bhikangaon Mandi
The rupee finished at Rs 84.38 versus the dollar this evening, down 1 paisaToday, on November 8, the Sensex closed 55 points lower at 79,486, while the Nifty ended 51 points lower at 24,148. Out of 30 Sensex stocks, 16 declined and 14 rose. Similarly, out of 50 Nifty stocks, 27 declined.Read More :- Cotton Prices Soar to ₹7,500 as Cotton Corporation of India Begins Procurement at Bhikangaon Mandi
Cotton Corporation of India Starts Procurement at Bhikangaon Mandi, Raising Cotton Prices to ₹7,500Bhikangaon Mandi witnessed a surge in cotton prices on Thursday, reaching a high of ₹7,500 per quintal, much to the delight of local farmers. The increase follows the commencement of cotton procurement by the Cotton Corporation of India (CCI) at the minimum support price (MSP).On its first day, CCI’s purchases were limited, with only two farmers managing to sell their produce. JP Singh, a CCI official, emphasized the need for farmers to register their cotton at the mandi to be eligible for MSP procurement.The registration process has been simplified, requiring only an Aadhaar card, a bank account, and a mobile number linked to Aadhaar. The mandi was bustling with activity as more cotton deliveries poured in. According to Mandi Secretary Rachna Tikkekar, 185 bullock carts and 155 vehicles arrived with fresh cotton loads.The price range for the day showed a maximum of ₹7,500 per quintal, a minimum of ₹5,558, and an average (model) price of ₹6,781. Local farmers like Jitendra Sejgaya and Rajendra Rathore expressed optimism, hoping that CCI’s involvement would bring price stability and better returns for their crops.CCI is currently procuring cotton with moisture content between 8% and 12%, offering rates from ₹7,421 to ₹7,124 per quintal, according to JP Singh. Mandi Secretary Tikkekar assured farmers that daily arrivals will be registered promptly, ensuring a smooth selling process.Read More :> Cotton Yarn Prices Drop by Rs 10/kg, Boosting Confidence in Rs 40,000 Crore Export Target
Early trading saw the rupee drop 5 paise to its lowest point ever, 84.37 against the US dollar.The rupee recovered from its all-time low level and witnessed a range-bound trade against the US dollar in early hours on Thursday, as investors remained cautious ahead of the US Fed meeting outcome later this week.READ MORE :>High Moisture Content Sparks Concerns for Cotton Farmers in Indian States
The rupee ended the day 9 paise worse against the dollar, closing at Rs 84.37After two days of strength in the stock market, selling was seen once again on Thursday. During this period, the Sensex fell 836.34 points to close at 79,541.79. On the other hand, the Nifty fell 284.70 points to reach 24,199.35.Read More :- Cotton Yarn Prices Drop by Rs 10/kg, Boosting Confidence in Rs 40,000 Crore Export Target
In early trading, the rupee climbs 5 paise to 84.26 against the US dollar.Sensex drops 800 pts to 79,600; Nifty down at 24,250; Metal, Bank drag At around 10 AM, the BSE Sensex was 844 points, or 1.05 per cent lower, at 79,533, and the Nifty 50 was at 24,221, down 262 points, or 1.07 per cent.Read More :> Demand for ban on cotton import, farmers fear loss due to decrease in production
The rupee ended the day 18 paise down against the dollar, closing at 84.28The BSE Sensex rose 901.50 points or 1.13 percent to close at 80,378.1 points. The NSE Nifty also rose 270.75 points or 1.12 percent to close at 24,484.05 points.Read More :- Demand for ban on cotton import, farmers fear loss due to decrease in production
Early trading sees the rupee drop 14 paise to its lowest point ever, 84.23 against the US dollar.Sensex reclaims 80,000, Nifty 50 above 24,400 led by IT, banks, auto stocksSensex today extended rally with gains of over 600 points and reclaimed the 80,000-mark, amid positive global market cues. Nifty 50 also traded above 24,400 level led by gains across the board. Midcap and Smallcap indices rallied over 1% each.Read More :>Cotton Yarn Prices Drop by Rs 10/kg, Boosting Confidence in Rs 40,000 Crore Export Target
The rupee strengthened by 1 paisa to close at 84.10 against the dollar this evening.The 30-share BSE benchmark Sensex closed 694 points, or 0.88%, higher at 79,476. The broader NSE Nifty rose 218 points, or 0.91%, to close at 24,213. During the day, both the Nifty and Sensex fell up to 0.6%.Read more:- Demand for ban on cotton import, farmers fear loss due to decrease in production
The Rs 40,000 Crore Export Target Gains Confidence as Cotton Yarn Prices Drop by Rs 10/kgThe price of cotton yarn used in knitwear production decreased by Rs 10 per kilogram on Monday, bringing optimism among exporters as New Year and Christmas orders start pouring in. Exporters see this price reduction as a boost for both domestic production and exports, aligning with their goal of achieving the Rs 40,000 crore export target.On Monday, spinning mills announced a price cut of Rs 10 per kg for all counts of cotton yarn used in knitwear. For instance, 20s kh (18.5 count) yarn dropped from Rs 220 to Rs 210 per kg, while 40s kh (38.5 count) decreased from Rs 248 to Rs 238. This price adjustment has been well-received by knitwear manufacturers in Tiruppur.KM Subramanian, president of the Tiruppur Exporters Association, stated, “The reduction in cotton yarn prices will aid growth in domestic production and exports, especially as cotton prices have settled at Rs 56,000 per candy. This price drop will support our efforts to achieve the Rs 40,000 crore export target for this year.”MP Muthurathinam, president of the Tiruppur Exporters and Manufacturers Association, highlighted that orders for New Year and Christmas are already coming in, with inquiries from Bangladesh as well. "Bangladesh had been hesitant due to our higher prices, but with this reduction, we can now capture more of these orders," he explained.Reflecting on recent market trends, he added, “Domestic orders before Deepavali were promising, but sales did not meet expectations afterward. We now hope that Christmas and New Year export orders will improve the situation, and this yarn price reduction will be a key factor. Yarn prices have held steady this year without any hikes.”Industry sources revealed that yarn prices have seen three reductions this year: a Rs 20/kg drop in January, another Rs 20/kg decrease in June, and now this recent Rs 10/kg cut in October.Read More :- Demand for ban on cotton import, farmers fear loss due to decrease in production
In relation to the US dollar, the rupee hits its lowest point ever, 84.13. The rupee on Monday fell 4 paise to a record low of 84.11 against the US dollar, tracking a weak trend in domestic equities and relentless foreign capital outflows.Read More :> Demand for ban on cotton import, farmers fear loss due to decrease in production
In relation to the US dollar, the rupee dropped 4 paise to its lowest point ever, 84.11At the close of trading, the BSE Sensex fell 941.88 points or 1.18 per cent to close at 78,782.24. The NSE's 50-share index, Nifty, fell 309 points or 1.27 per cent to close at 23,995.35.Read More :- Demand for ban on cotton import, farmers fear loss due to decrease in production
Importing cotton should be prohibited, as farmers fear financial loss from lower output.Farmers are worried about the falling prices of cotton, and now the demand for banning cotton import is gaining momentum. In major cotton producing states like Maharashtra, Andhra Pradesh and Telangana, the yield is getting affected due to high moisture in the crop.Demand to buy crop at MSPMany farmers are getting prices lower than the Minimum Support Price (MSP) for cotton crop, which is weakening their financial condition. Farmers want the government to buy their crop at MSP, which is Rs 7,122 per quintal.Fall in pricesMaharashtra, where about 40 lakh farmers cultivate cotton, ranks second in cotton production in the country. However, cotton prices are expected to fall domestically. Even despite adequate production, there is talk of large-scale cotton imports, which may lead to further decline in prices.Politics over cotton has heated up in Maharashtra due to the upcoming Rajya Sabha elections. Some leaders say that the Cotton Corporation of India has a large stock of cotton, due to which the demand for buying cotton at MSP is increasing. The current price of cotton in the state is between Rs 6,500-6,600 per quintal, which is less than the MSP of Rs 7,122. Therefore, farmers are hesitant to sell their crop and are waiting for a better price.Demand for ban on importPoliticians say that there is already a large stock of cotton in the country, so imports should be banned immediately. If imports continue, cotton prices may fall further, causing huge losses to farmers and profits to traders.Damage to crop due to weatherThe cotton crop has suffered a lot due to unseasonal rains, due to which farmers are upset. According to reports, this year about 19 lakh hectares of cotton crop has been affected by adverse weather. Due to high moisture, the crop is still wet in many areas, which is affecting its price in the market.Read More :> High Moisture Content Sparks Concerns for Cotton Farmers in Indian States
The rupee closed unchanged at 84.08 against the dollar this evening.At the close of trading, the BSE Sensex fell 426.85 points or 0.53 per cent to close at 79,942.18. The NSE's 50-share index, Nifty, fell 126 points or 0.51 per cent to close at 24,340.85.Read more:- High Moisture Content Sparks Concerns for Cotton Farmers in Indian States
The rupee drops 2 paise to 84.07 against the dollar.The rupee opened on a flat note and depreciated 2 paise to 84.07 against the US dollar in initial deals on Wednesday, weighed down by persistent foreign fund outflows and muted domestic equities.Read More :> High Moisture Content Sparks Concerns for Cotton Farmers in Indian States
| title | Created At | Action |
|---|---|---|
| Cotton Procurement Halted in Erstwhile Karimnagar Over New CCI Guidelines | 11-11-2024 20:59:58 | view |
| Rupee falls 1 paisa to all-time low of 84.38 against dollar in early trade | 11-11-2024 17:23:03 | view |
| This evening, the rupee closed 1 paisa lower at Rs 84.38 against the dollar | 08-11-2024 23:23:12 | view |
| Cotton Prices Soar to ₹7,500 as Cotton Corporation of India Begins Procurement at Bhikangaon Mandi | 08-11-2024 18:05:13 | view |
| Rupee falls 5 paise to all-time low of 84.37 against US dollar in early trade | 08-11-2024 17:25:33 | view |
| This evening, the rupee closed 9 paise lower at Rs 84.37 against the dollar | 07-11-2024 23:21:11 | view |
| Rupee rises 5 paise to 84.26 against US dollar in early trade | 07-11-2024 17:19:32 | view |
| This evening, the rupee closed 18 paise lower at 84.28 against the dollar | 06-11-2024 23:21:48 | view |
| Rupee falls 14 paise to all-time low of 84.23 against US dollar in early trade | 06-11-2024 17:24:27 | view |
| The rupee appreciated 1 paisa vs the dollar this evening, closing at Rs 84.10. | 05-11-2024 23:28:48 | view |
| Cotton Yarn Prices Drop by Rs 10/kg, Boosting Confidence in Rs 40,000 Crore Export Target | 05-11-2024 18:39:04 | view |
| Rupee falls to all-time low of 84.13 against US Dollar | 05-11-2024 17:17:07 | view |
| Rupee fell 4 paise to an all-time low of 84.11 against the US dollar | 04-11-2024 23:43:13 | view |
| Demand for ban on cotton import, farmers fear loss due to decrease in production | 04-11-2024 20:12:03 | view |
| This evening, the rupee finished at 84.08 against the US dollar, unchanged. | 30-10-2024 23:36:44 | view |
| Rupee falls by 2 paise to 84.07 vs dollar | 30-10-2024 17:27:24 | view |
