This evening, the rupee ended the day 6 paise weaker against the US dollar, at 83.70At the close of trading, the BSE Sensex closed 264.27 points, or 0.31 per cent, lower at 85,571.85, after hitting a new high of 85,978.25 during the day's trade. The NSE's 50-share index, the Nifty, fell 40.90 points, or 0.16 per cent, to close at 26,175.15, after hitting a new high of 26,277.35 during the day's trade.Read More :- Textile Mills Urge Cotton Corporation of India to Establish Warehouses in Tamil Nadu
Cotton Corporation of India is being urged by textile mills to open warehouses in Tamil NaduThe South India Spinners Association (SISPA) has requested the Cotton Corporation of India (CCI) to set up cotton warehouses in Tamil Nadu, as textile mills in the state consume 45% of the cotton produced nationwide.During its annual meeting in Coimbatore on September 25, 2024, SISPA emphasized the need for local warehouses to ensure easier access to cotton, the primary raw material for the mills. The Association also urged that mills lifting cotton contracted with CCI after the grace period be charged a lower interest rate of 6.5%, instead of the current 15%. Additionally, it called for the Central government to directly transfer the Minimum Support Price (MSP) to farmers who sell their cotton to CCI and to monitor mill purchases to prevent excessive stocking.SISPA further requested the Central government to exempt cotton imports from the 11% duty between April and October, ensuring raw material availability without harming farmers' livelihoods.Read More :- Department of Agriculture and Farmers’ Welfare releases Final Estimates of major agricultural crops for 2023-24
In early trade, the rupee climbs 3 paise to 83.63 against the US dollar.Sensex hits fresh record high of 85,955.5; Nifty climbs 34.5 points in early tradeBenchmark Sensex rallied 666 points to close at a fresh record high on Thursday following buying in auto and banking shares amid gains in global markets.Read More :> Cotton is being sold at more than the minimum support price in the grain markets of Haryana
This evening, the rupee ended the day 5 paise weaker versus the US dollar, at 83.64At the close of trading, the BSE Sensex rose 666.25 points or 0.78 per cent to close at 85,836.12. The Sensex hit a new high of 85,930.43 during the day. The NSE's 50-share index, the Nifty, rose 181.85 points or 0.70 per cent to close at 26,186.00. It also touched a new high of 26,250.90 during the day.Read More :- Clouds of crisis on cotton crop in Maharashtra
Rupee drops 11 paise to 83.69 against the US dollar.Rupee declined 11 paise to 83.69 against the US dollar in early trade on Thursday amid a strengthening dollar against overseas currencies and an increase in crude oil prices.Read More :> Department of Agriculture and Farmers’ Welfare releases Final Estimates of major agricultural crops for 2023-24
The primary agricultural crops' final estimates for 2023–2024 are released by the Department of Agriculture and Farmers' WelfareThe Ministry of Agriculture and Farmers’ Welfare has released Final Estimates of production of Major Agricultural Crops for the year 2023-24. These estimates have been primarily prepared on the basis of information received from States/ UTs. The crop area has been validated and triangulated with information received from Remote Sensing, Weekly Crop Weather Watch Group and other agencies. Crop yields estimates are majorly based on Crop Cutting Experiments (CCEs) conducted nationwide. The process of recording CCEs has been re-engineered with the introduction of the Digital General Crop Estimation Survey (DGCES), which was rolled out in major States during the 2023-24 agricultural years. The new system has ensured the transparency and robustness of the yield estimates.The total Foodgrain production in the country during 2023-24 is estimated at record 3322.98 LMT which is higher by 26.11 LMT than the production of food grains of 3296.87 LMT achieved during 2022-23. Food grain production witnessed record increase due to good production of Rice, Wheat and Shree Anna.Total Rice production during 2023-24 is estimated at record 1378.25 LMT. It is higher by 20.70 LMT than previous year’s Rice production of 1357.55 LMT. The Wheat production during 2023-24 is estimated at record 1132.92 LMT. It is higher by 27.38 LMT than previous year’s wheat production of 1105.54 LMT and production of Shree Anna is estimated at 175.72 LMT as compared to 173.21 LMT during previous year.During 2023-24, there were drought-like conditions in southern states, including Maharashtra & prolonged dry spell during August especially in Rajasthan. The moisture stress from the drought also affected the Rabi season. This mainly impacted production of pulses, coarse cereals, soybean & cotton.The details of production of various crops are given as under:Total Foodgrains– 3322.98 LMT (record)Rice -1378.25 LMT (record)Wheat – 1132.92 LMT (record)Nutri / Coarse Cereals – 569.36 LMTMaize – 376.65 LMTTotal Pulses – 242.46 LMTShree Anna– 175.72 LMTTur – 34.17 LMTGram – 110.39 LMTTotal Oilseeds– 396.69 LMTGroundnut – 101.80 LMTSoybean – 130.62 LMTRapeseed & Mustard – 132.59 LMT (record)Sugarcane – 4531.58 LMTCotton – 325.22 Lakh Bales (170 Kgs. each)Jute & Mesta – 96.92 Lakh Bales (180 Kgs. each) Read More :- Clouds of crisis on cotton crop in Maharashtra
The Indian rupee closed at 83.60 per dollar on Wednesday, up 7 paise from Tuesday's close of 83.67 per dollarAt the end of trading, the Sensex closed at 85,169.87 with a gain of 255.83 points or 0.30 percent. On the other hand, the Nifty closed at 26,004.15 with a gain of 63.75 points or 0.25 percent.Read More :- Clouds of crisis on cotton crop in Maharashtra
Maharashtra's cotton crop is facing clouds of calamityMarathwada, which is known as a cotton producing region, has not been able to sow cotton at the expected level in any district except Parbhani and Latur this year. Apart from this, adverse weather conditions are still continuing, due to which there is uncertainty about the future of cotton crop.In three districts under Chhatrapati Sambhajinagar Agriculture Division, cotton was cultivated on only 9 lakh 18 thousand 3 hectares as against the average sowing of 10 lakh 59 thousand 324 hectares. At the same time, in the five districts of Latur Agriculture Division, cotton was sown on only 4 lakh 54 thousand 806 hectares as against the average sowing of 4 lakh 85 thousand 88 hectares. Districts like Parbhani, Chhatrapati Sambhajinagar, Jalna, Beed and Nanded are considered to be the main cotton producing districts, but this time cotton sowing could not be done as expected in the rest of the districts except Parbhani. On the other hand, in districts like Latur, where soybean sowing is more, cotton acreage has more than doubled from the average.Although Latur's area is much smaller than the traditional cotton producing districts, the increase in cultivation here is considered significant. Cotton acreage is prominent in Jalkot and Ahmedpur talukas of Latur district. Farmers said that currently the cotton crop is in the flowering and boll stage, where 10 to 12 to 30 to 40 bolls are being seen.Persistent crisesDue to heavy rains in early September, cotton crop had to face the problem of sudden death in many places. Farmers who tried to control it got partial success. However, the danger of sudden death due to rain still remains in some areas. Apart from this, the impact of diseases like Bandsad and Lalia is also being seen on the cotton crop due to the infestation of pests, diseases and sucking insects. The problem of sudden death was seen severely in Beed, Shirur Kasar, Gevrai and Majalgaon talukas of Beed district, which has been recorded by the agriculture department. Experts said that this problem is also persisting in some parts of Chhatrapati Sambhajinagar and Jalna districts.Read More :- Cotton is being sold at more than the minimum support price in the grain markets of Haryana
In early trade, the rupee climbs 9 paise to 83.58 against the US dollar.Indian rupee opened 9 paise higher at 83.58 per dollar on Wednesday versus Tuesday's close of 83.67.The Sensex was down 153.98 pointsThe Sensex was down 153.98 points or 0.18 percent at 84,760.06, and the Nifty was down 73.50 points or 0.28 percent at 25,866.90.READ MORE :> Cotton is being sold at more than the minimum support price in the grain markets of Haryana
Indian rupee ended 12 paise lower at 83.67 per dollar on Tuesday against Monday's close of 83.55."Nifty Crosses 26,000 Amid Volatile Session; Sensex Ends Flat"Indian equity indices ended the trading session on September 24, 2024, on a flat note after a volatile session, despite the Nifty crossing the 26,000 mark for the first time. By the close, the Sensex was down by 14.57 points, or 0.02%, settling at 84,914.04, while the Nifty edged up by 1.40 points, or 0.01%, to 25,940.40. Read more:- Cotton is being sold at more than the minimum support price in the grain markets of Haryana
In Haryana's grain markets, cotton is being sold for more than the minimum support price.Hodal:- At present, the cotton crop is being sold at a price higher than the minimum support price (MSP) in the grain market of the sub-division. The main reason for this is the decrease in the area of cotton cultivation and the fall in production due to waterlogging due to rain. Although the crop has been damaged due to rain, the farmers are getting some relief by getting high prices. Currently, farmers are reaching the market of Hodal to sell cotton, where the price of cotton ranges from Rs 7400 to Rs 7900 per quintal.In 2023, till September 23, 11,528 quintals of cotton had arrived in the market, whereas in this financial year so far only 4144 quintals of cotton have arrived in the market. The MSP for short-fiber cotton has been fixed by the government at Rs 7121 and for long-fiber cotton at Rs 7521 per quintal. Long-fiber cotton is mainly grown in the Hodal area. Till last season, farmers had to agitate to sell cotton at MSP, whereas this time the situation is reversed. Due to reduction in cotton acreage and waterlogging in the fields due to heavy rains in September, there has been a huge reduction in production. This has increased the demand for cotton in the market and traders are buying cotton by paying good prices.Quality affected due to weatherThis year the quality of cotton has been affected due to adverse weather conditions, yet farmers are getting good prices. All the cotton that has come to the market so far has been purchased privately. In early September 2023, the price of cotton was Rs 5200 to Rs 6000 per quintal, which has now increased to Rs 7400 to Rs 7900. Due to paddy harvesting and wheat sowing in November, farmers are bringing less cotton to the market. The crop has suffered a lot due to heavy rains in the area.Big loss due to rainAccording to Mandi Secretary Virendra Kumar, till 23rd September last year, 11,528 quintals of cotton had arrived in the Mandi, whereas this year till now only 4144 quintals of cotton have arrived, which indicates that the crop has suffered a lot due to rain. Agriculture department officials believe that due to more diseases in the crop, farmers have also reduced the sowing of cotton this time.Read More :>India begins monsoon retreat with excess rain
The rupee appreciated by 1 paisa against the dollar this evening, closing at Rs 83.55At the end of the trading session, the Sensex rose 384.30 points or 0.45 per cent to close at 84,928.61 and the Nifty rose 148.05 points or 0.57 per cent to close at 25,939.Read More :- India begins monsoon retreat with excess rain
India begins monsoon retreat with surplus rainThis year's monsoon in India began retreating from the northwest about a week later than usual, the India Meteorological Department (IMD) said in a statement.India's annual monsoon rainfall provides about 70% of the water needed for agriculture and to fill reservoirs and hydroponics, the mainstay of the nearly $3.5 trillion economy. Without irrigation, about half of India's agricultural land depends on monsoon rains, which typically last from June to September.The monsoon normally begins in June and begins retreating by September 17, but this year the rains continued, filling reservoirs but damaging crops in some states that were ready to be harvested.Reuters reported in August that monsoon rains this year could extend until late September due to the development of a low-pressure area.According to the IMD, monsoon rainfall so far this season has been 5.5% above average.The IMD said conditions are favourable for further withdrawal of monsoon from west Rajasthan and parts of Punjab, Haryana and Gujarat during the next 24 hours.
In early trade, the rupee climbs 6 paise to 83.46 against the US dollar.The rupee entered its third week of rally and appreciated 6 paise to 83.46 against the US dollar in early trade on Monday, tracking positive momentum in domestic equity markets amid a massive inflow of foreign funds.Read More :> Cotton season likely to get prolonged due to continuous rains in Maharashtra
Maharashtra's ongoing rains are expected to extend the cotton seasonEvery year, farmers used to get the required money by selling their first cotton crop during Dussehra and Diwali. However, this year, due to continuous rains, the process of formation and blooming of cotton bolls is getting delayed, due to which the cotton season is likely to get prolonged. According to experts from the Central Cotton Research Institute, this delay can have a significant impact on the cotton crop this year.Cotton is mainly grown on drip irrigation system in Jalgaon and Khandesh region, due to which farmers sow cotton before the monsoon, in the month of May. Usually, this crop is harvested during Dussehra and Diwali, which helps farmers to raise the required money for the festivals. This year too, the cotton crop is on the verge of ripening, but the boll blooming is being hampered due to rain.Vivek Shah, an expert from the Central Cotton Research Institute, recently inspected Jalgaon district, in which he observed that 40 to 45 pods were present on the cotton plants, but only two to three of them had bloomed. Due to continuous rains, the crop did not get enough sunlight, which has adversely affected the bolls.Given this situation, experts believe that this year the cotton season may be extended for a few weeks. This has also reduced the possibility of large arrivals of cotton in the mandis during Dussehra and Diwali, which may affect the farmer and the market.Read More :- Maharashtra Cotton Association Aurangabad Conference
PRESENTATION THOUGHTS & KEY TAKEAWAYS FROM SANCHIT RAJPAL JIGlobal consumption must rise, or some countries need to reduce cotton production.With China's macro-economic situation slowing down and demand weakening, can Bangladesh, Pakistan, and India step in to replace China in global imports? As per some estimates there can be a reduction of 25% in demand from China.India must reform its MSP policy-continuously raising MSP while maintaining the import duty will cripple the spinning industry.The world has moved on to 7th Generation of BT seeds but we are still on the 3rd generation. Given the significant depletion of our closing stocks, an increased cotton supply will be essential in coming days.Even with 11% duty on Imports we have seen a good imports in last few months? If ICE futures remain range bound and with CCI in procurement can we see more imports happening?It's crucial for our industry to take serious steps in gathering accurate crop data, including production and consumption. In these challenging times, having precise data will help us stay prepared for any unexpected situations.Read More :- Cotton season likely to get prolonged due to continuous rains in Maharashtra
| title | Created At | Action |
|---|---|---|
| The rupee closed 6 paise lower at 83.70 against the US dollar this evening | 27-09-2024 23:33:27 | view |
| Textile Mills Urge Cotton Corporation of India to Establish Warehouses in Tamil Nadu | 27-09-2024 18:56:20 | view |
| Rupee rises 3 paise to 83.63 against US dollar in early trade | 27-09-2024 17:30:38 | view |
| The rupee closed 5 paise lower at 83.64 against the US dollar this evening | 26-09-2024 23:38:45 | view |
| Rupee declines 11 paise to 83.69 vs dollar | 26-09-2024 17:21:04 | view |
| Department of Agriculture and Farmers’ Welfare releases Final Estimates of major agricultural crops for 2023-24 | 26-09-2024 00:39:50 | view |
| On Wednesday, the Indian rupee rose by 7 paise to close at 83.60 per dollar, while on Tuesday it closed at 83.67 per dollar | 25-09-2024 23:27:31 | view |
| Clouds of crisis on cotton crop in Maharashtra | 25-09-2024 20:10:48 | view |
| Rupee rises 9 paise to 83.58 against US dollar during early trade | 25-09-2024 17:32:06 | view |
| The rupee weakened by 12 paise, closing at 83.67 against the US dollar. | 25-09-2024 00:44:12 | view |
| Cotton is being sold at more than the minimum support price in the grain markets of Haryana | 24-09-2024 18:14:27 | view |
| This evening, the rupee strengthened by 1 paisa to close at Rs 83.55 against the dollar | 23-09-2024 23:32:14 | view |
| India begins monsoon retreat with excess rain | 23-09-2024 22:27:10 | view |
| Rupee rises 6 paise to 83.46 against US dollar during early trade | 23-09-2024 17:26:15 | view |
| Cotton season likely to get prolonged due to continuous rains in Maharashtra | 21-09-2024 21:23:44 | view |
| SANCHIT RAJPAL JI PRESENTATION THOUGHTS & KEY TAKEAWAYS | 21-09-2024 20:52:22 | view |
