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
This evening, the rupee finished at 84.08 against the US dollar, unchangedThe BSE Sensex rose 363.99 points or 0.45 per cent to close at 80,369.03. Similarly, the NSE Nifty 50 rose 127.70 points or 0.52 per cent to close at 24,466.85.Read More :- High Moisture Content Sparks Concerns for Cotton Farmers in Indian States
High Moisture in Cotton Hits Farmers Across States, Prices Fall Below MSPCotton farmers in Telangana and Maharashtra are facing distress as high moisture content in their produce has led to lower market prices, often falling below the Minimum Support Price (MSP). The Cotton Corporation of India (CCI), which handles MSP procurement, says moisture levels are the main reason for rejection or price cuts.Farmers in Telangana report that cotton prices in several mandis have dropped significantly. “They are lowering prices, saying the moisture content is above the acceptable limit,” said a farmer from Warangal (name changed).Heavy rainfall and recent flooding have left harvested cotton wet in several regions, increasing moisture levels. According to CCI Chairman and MD Lalit Kumar Gupta, acceptable moisture levels are between 8–12%, but samples in some areas have shown levels as high as 20–25%. He advised farmers to properly dry cotton before bringing it to procurement centres.Due to recent festivals, arrivals at mandis have also been delayed. Around 90,000 bales arrived on Monday, taking total procurement to about 1.2 million bales this season.Cotton Association of India President Atul Ganatra has urged the government to allow procurement of cotton with moisture levels up to 18%, stating that continuous rains have worsened the situation. He added that farmers are being forced to sell cotton at ₹3,000–₹6,000 per quintal, well below MSP.While arrivals are lower by around 400,000 bales compared to last year, the CCI remains optimistic that better weather will improve the situation. “Sunny days will help reduce moisture levels,” Gupta said.Political criticism has also emerged. The BRS has accused the Telangana government of failing to support farmers, despite promises of a ₹500 per quintal bonus. However, the state agriculture minister has advised farmers to dry their produce before selling.The government has fixed MSP at ₹7,121 per quintal for medium-staple cotton and ₹7,521 for long-staple cotton, but actual prices vary depending on moisture content. Officials say nearly half of incoming cotton lots in some areas have failed moisture tests.CCI has issued advisories across cotton-growing states, while many farmers are now choosing to delay sales in hopes of better prices in the coming days.
Rupee Opens Flat at 84.08 vs US DollarMumbai, Oct 29 (PTI) The rupee opened on a flat note and depreciated 1 paisa to 84.08 against the US dollar in initial deals on Tuesday, as persistent foreign fund outflows and the strength of the American currency in the overseas market dented investor sentiments.Read More :> Cotton Crops in Medak, Telangana, Are Devastated by Heavy Rains
This evening, the rupee closed unchanged at 84.08 against the dollar.At the end of the trading session, the Sensex rose 602.75 points or 0.76 percent to close at 80,005.04 and the Nifty rose 158.40 points or 0.66 percent to close at 24,339.20.Read more:- Farmers' Diwali was dull, heavy rain caused loss of 15 lakhs to cotton crop
Early trading of the rupee against the US currency is limited.The rupee witnessed range-bound trade and appreciated by just 1 paisa to 84.07 against the US dollar in initial deals on Monday, weighed down by significant foreign fund outflows and the strength of the American currency in the overseas market.Read More :> India’s Cotton Output Likely to Drop 7.4% Due to Excessive Rainfall
This evening, the rupee ended the day 1 paisa down versus the US dollar at 84.08At the close of trade, the BSE Sensex closed down 662.87 points or 0.83 per cent at 79,402.29. At the same time, NSE's 50-share index Nifty closed down 218.60 points or 0.90 percent at 24,180.80.Read More :- India’s Cotton Output Likely to Drop 7.4% Due to Excessive Rainfall
In early trade, the rupee falls flat against the US dollar at 84.07.The rupee stayed in a straightjacket for yet another week, trading at its near all-time low of 84.07 against the US dollar on Friday (October 25, 2024) amid firm American currency and unprecedented foreign fund outflow.Read More :> Unseasonal Rains Damage Cotton Crop, Farmers Fear Lower Prices
The rupee strengthened by 1 paisa to close at 84.07 against the dollar this evening.The BSE Sensex closed 16.82 points lower at 80,065.16, while the NSE Nifty closed 36.10 points lower at 24,399.40.Read more:- Unseasonal Rains Damage Cotton Crop, Farmers Fear Lower Prices
In early trade, the rupee falls flat against the US dollar at 84.07.At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and slipped 1 paisa to trade at previous day's closing level in initial deals.Read More :> Unseasonal Rains Damage Cotton Crop, Farmers Fear Lower Prices
This evening, the rupee finished at 84.08 against the US dollar, unchangedThe BSE Sensex fell 138.74 points or 0.17 percent to close at 80,081.98 while the Nifty 50 fell 36.60 points or 0.15 percent to close at 24,435.50.Read More :- Unseasonal Rains Damage Cotton Crop, Farmers Fear Lower Prices
Farmers Fear Lower Prices After Unseasonal Rains Damage Cotton CropsIndore: Recent unseasonal rainfall has caused significant discoloration and damage to standing cotton crops, sparking concerns among farmers about receiving lower prices for their produce.The untimely rains have also delayed the cotton picking process, farmers reported. Typically, the cotton picking season begins in mid-September and lasts through October and November. While the first round of picking has been completed, the second is still underway.Damage to the standing crop, along with quality concerns, has negatively affected the newly harvested cotton. "The rains have compromised the quality of the cotton and caused damage to the standing crop. These quality issues have led to suppressed prices in the spot market," said Kailash Agrawal, a cotton farmer and ginning unit owner.According to cotton traders, the price of newly harvested raw cotton in the Khargone market ranges from Rs 3,500 to Rs 7,500 per quintal. This wide price range reflects the quality issues and increased moisture content caused by the rains.In the Indore division, cotton is cultivated across approximately 19 lakh hectares, with Khargone, Khandwa, Barwani, Manawar, Dhar, Ratlam, and Dewas being key cotton-growing areas.Manjeet Singh Chawla, founder president of the Madhya Pradesh Cotton Ginners and Traders Association, noted that while the rains have impacted quality, the damage to cotton crops is not as severe as for other crops."Cotton production this season is expected to be favorable overall, as weather conditions were conducive during sowing and growth, except for the recent rains."The Cotton Association of India has projected Madhya Pradesh's cotton production for the 2024-25 season at 19 lakh bales (1 bale = 170 kg).Read More :> Farmers' Diwali was dull, heavy rain caused loss of 15 lakhs to cotton crop
At 84.07, the rupee is slightly up 1 paise versus the US dollar.Forex traders said a downward trend in domestic equity markets and elevated level of crude oil prices prevented a recovery in the Indian currency.Read More :> India’s Cotton Output Likely to Drop 7.4% Due to Excessive Rainfall
Due to excessive rainfall, India's cotton output is expected to decline by 7.4%.India's cotton production for the 2024/25 season is projected to decline by 7.4% to 30.2 million bales, compared to the previous year, primarily due to reduced cultivation area and crop damage caused by excessive rainfall, according to a leading trade body on Tuesday.The drop in production is expected to impact exports from the world's second-largest cotton producer during the marketing year that began on October 1, while increasing the country's need for imports, which may support global cotton prices.India's cotton imports are forecasted to rise to 2.5 million bales in the new season, up from 1.75 million bales a year earlier, according to a statement from the Cotton Association of India (CAI). Meanwhile, exports are expected to fall sharply to 1.8 million bales, down from 2.85 million bales the previous year.The decline in production is largely attributed to a significant reduction in the area under cotton cultivation, which decreased to 11.29 million hectares from 12.69 million hectares last year, explained Atul Ganatra, president of CAI.In Gujarat, India's top cotton-producing state, farmers have shifted away from cotton to grow groundnuts, which have been offering more profitable returns, according to traders.Read More :- Farmers' Diwali was dull, heavy rain caused loss of 15 lakhs to cotton crop
This evening, the rupee closed at Rs 84.08 against the dollar with a weakness of 1 paisa.At the end of the trading session, the Sensex closed at 80,220.72 with a fall of 930.55 points or 1.15 percent and the Nifty closed at 24,472.10 with a fall of 309.00 points or 1.25 percentRead more:- Farmers' Diwali was dull, heavy rain caused loss of 15 lakhs to cotton crop
In early trade, the rupee falls flat against the US dollar at 84.07. The local unit resisted the fall on the back of the retreating dollar and a downward movement in the crude oil prices, forex traders said.At the interbank foreign exchange, the rupee opened at 84.07 against the greenback and traded on a flat note in early deals.Read More :> Farmers' Diwali was dull, heavy rain caused loss of 15 lakhs to cotton crop
| title | Created At | Action |
|---|---|---|
| Rupee falls by 2 paise to 84.07 vs dollar | 30-10-2024 17:27:24 | view |
| The rupee closed unchanged at 84.08 against the dollar this evening. | 29-10-2024 23:42:25 | view |
| High Moisture Content Sparks Concerns for Cotton Farmers in Indian States | 29-10-2024 18:13:37 | view |
| Rupee vs. US Dollar Opens Flat at 84.08 | 29-10-2024 17:22:58 | view |
| This evening, the rupee ended steady at 84.08 against the dollar. | 28-10-2024 23:34:51 | view |
| Rupee trades in narrow ranges against US dollar in early trade | 28-10-2024 17:24:05 | view |
| This evening, the rupee closed at Rs 84.08 with a weakness of 1 paise against the dollar | 25-10-2024 23:35:57 | view |
| Rupee turn flat at 84.07 against US dollar in early trade | 25-10-2024 17:18:15 | view |
| This evening, the rupee appreciated by one paisa against the dollar, finishing at Rs 84.07. | 24-10-2024 23:45:33 | view |
| Rupee turns flat at 84.07 against US dollar in early trade. | 24-10-2024 17:23:48 | view |
| The rupee closed unchanged at 84.08 against the dollar this evening | 23-10-2024 23:43:45 | view |
| Unseasonal Rains Damage Cotton Crop, Farmers Fear Lower Prices | 23-10-2024 18:38:30 | view |
| Rupee trades marginally higher by 1 paise at 84.07 against US dollar | 23-10-2024 17:18:00 | view |
| India’s Cotton Output Likely to Drop 7.4% Due to Excessive Rainfall | 23-10-2024 00:41:44 | view |
| This evening, the rupee ended at Rs 84.08 against the dollar, down by 1 paisa. | 22-10-2024 23:39:29 | view |
| Rupee turns flat at 84.07 against US dollar in early trade | 22-10-2024 17:17:13 | view |
