Early trading saw the rupee drop 12 paise to its lowest point ever, 85.06 against the US dollar.Forex traders said the US Federal Reserve has adjusted its projections for 2025, signalling a more cautious monetary policy stance, pressuring emerging market currencies, including the Indian rupee.The rupee dropped 12 paise to an all-time low of 85.06 against the US dollar in early trade on Thursday (December 19, 2024), as a hawkish tilt from the US Federal Reserve sparked a broad dollar rally.Read More :- The rupee closed 5 paise lower at 84.95 against the dollar this evening
The rupee fell 5 paise versus the dollar to settle at Rs 84.95 this eveningAt the close, the Sensex was down 502.25 points or 0.62 percent at 80,182.20, and the Nifty was down 137.15 points or 0.56 percent at 24,198.85. About 1379 stocks rose, 2456 fell and 92 stocks remained unchanged.Read More :- India's cotton textile exports drop by 29% compared to 2021-22
India’s Cotton Textile Exports Drop 29% from 2021–22 LevelsIndia’s cotton textile exports declined significantly in 2023–24, falling by nearly 29% compared to 2021–22, according to data presented in the Rajya Sabha during the ongoing winter session.The country exported cotton textiles worth $12,258 million in 2023–24, down from $17,166 million in 2021–22. Export volumes also saw a sharp contraction, with cotton fabrics and made-ups declining by 19% and cotton yarn exports dropping by 31%. Raw cotton exports witnessed an even steeper fall of 60%, Minister of State Pabitra Margherita said in a written reply to a query raised by MP Parimal Nathwani.However, exports of other textile yarns and made-ups recorded a growth of 12% during the same period.After peaking at $17,166 million in 2021–22, exports fell to $11,085 million in 2022–23 before registering a modest recovery of 11% in 2023–24. Key export markets for Indian cotton textiles include the United States, Bangladesh, China, Sri Lanka, and the United Arab Emirates.Gujarat, which contributes around 30% of India’s cotton textile exports, also witnessed a decline—from $4,760 million in 2021–22 to $3,615 million in 2023–24.On the production front, Gujarat remained the leading cotton-producing state, crossing 90 lakh bales (170 kg each) during October–September 2023–24. The state recorded a 20% increase in cotton production between 2021–22 and 2023–24. In contrast, Maharashtra, the second-largest producer, saw a 2% decline to 80 lakh bales, while Telangana ranked third with 51 lakh bales.To support the sector, the government is implementing the Remission of State and Central Taxes and Duties (ROSCTL) scheme for apparel, textiles, and made-ups. It is also promoting global outreach through initiatives like Bharat Tex 2025, a mega textile event scheduled for February 2025, aimed at showcasing India’s textile value chain and strengthening its position as a preferred sourcing destination.Additionally, India has signed 14 Free Trade Agreements (FTAs) and 6 Preferential Trade Agreements (PTAs) to improve access to global markets. Research efforts are also underway, with ICAR-Central Institute for Cotton Research (CICR), Nagpur, having released 333 cotton varieties over the past decade, including 191 non-Bt and 142 Bt varieties.Read More :- Rupee falls 1 paisa to 84.92 against US dollar in early trade
Early trading saw the rupee drop 1 paisa to 84.92 against the US dollar.The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 84.90 (provisional) against the US dollar on Tuesday, weighed down by disappointing trade balance data and weak domestic markets.Read More :- Indian rupee ended marginally lower at 84.90 per dollar on Tuesday versus Monday's close of 84.87.
The Indian rupee closed Tuesday at 84.90 per dollar, slightly less than Monday's close of 84.87.At close, the Sensex was down 1,064.12 points or 1.30 percent at 80,684.45, and the Nifty was down 332.25 points or 1.35 percent at 24,336. About 1497 shares advanced, 2360 shares declined, and 85 shares unchanged.Read More :> CCI procures 31 lakh bales of cotton by mid-December
By the middle of December, CCI will have acquired 31 lakh bales of cotton.The Cotton Corporation of India (CCI) has procured over 31 lakh bales (each of 170 kg) of the natural fibre crop at the minimum support price (MSP) till mid-December, accounting for over a third of the total market arrivals in the current 2024-25 marketing season."Till December 14, we have procured 31 lakh bales," CCI chairman and managing director Lalit Gupta said. The state-run entity has launched the procurement operation in all states for the 2024-25 marketing season, while most of the purchases so far have been made in Telangana and Maharashtra.According to progressive procurement data, CCI has procured over 19.94 lakh bales in Telangana and 5.42 lakh bales in Maharashtra till December 14. Andhra Pradesh has procured over 1.8 lakh bales so far, while Karnataka has procured over 1.66 lakh bales.In Gujarat, the largest cotton producing state, CCI has procured 88,506 bales, while Madhya Pradesh has procured 86,882 bales. In Odisha, CCI has procured 21,148 bales, Rajasthan 13,507 bales, Haryana 5576 bales and Punjab 279 bales. In West Bengal, 234 bales have been procured.At the highest level of last year's procurementRaw cotton prices are trading below MSP levels due to weak demand from yarn mills and bearish trend in cotton prices. The Centre has announced MSP of ₹7,121 per quintal for medium variety and ₹7,521 per quintal for long variety for 2024-25 marketing season, an increase of 7 per cent over last year.CCI had procured 33 lakh bales during 2023-24 marketing season. CCI, which started procurement from Telangana in the second fortnight of October for the current marketing season, is set to surpass last year's figures by a big margin.Gupta had earlier said CCI's procurement for the 2024-25 marketing season could be between 50-70 lakh bales of 170 kg each.According to data from trade body Cotton Association of India (CAI), daily market arrivals have already crossed 2 lakh bales. The arrivals on Monday were 2.126 lakh bales of 170 kg each and total arrivals across the country in the current season were over 83.30 lakh bales. As per CAI estimates, cotton production during 2024-25 is estimated to be 302.25 lakh bales of 170 kg each, down by about 7 per cent compared to 325.29 lakh bales last year. This is due to reduction in acreage and adverse weather conditions affecting production in some states.Read more :- Rupee falls 1 paisa to all-time low of 84.92 against US dollar in early trade
Early trading saw the rupee drop 1 paisa to its lowest point ever, 84.92 against the US dollar.The rupee depreciated by 9 paise to close at an all-time low level of 84.89 (provisional) against the US dollar on Monday, dragged down by a negative trend in domestic equities.Sensex declined 350.98 points in early trade; Nifty down 100.8 points Benchmark indices Sensex and Nifty closed lower on Monday due to weak global cues amid caution ahead of the US Fed interest rate decision later this week...read more :- Indian rupee ended 8 paise lower at 84.87 per dollar on Monday versus Friday's close of 84.79.
The Indian rupee closed at 84.87 per dollar on Monday, 8 paise less than its finish of 84.79 on Friday.At close, the Sensex was down 384.55 points or 0.47 percent at 81,748.57, and the Nifty was down 100.05 points or 0.40 percent at 24,668.25. About 2220 shares advanced, 1748 shares declined, and 94 shares unchanged.READ MORE :-Cotton Market Update: Prices expected to rise this year; sale of stored cotton by farmers.
Cotton Market Update: Farmers are selling their stored cotton, and prices are predicted to increase this year.Maharashtr a: Cotton is being procured by CCI in the cotton yard since November 13 and 1 lakh 10 thousand quintals of cotton has been procured on nine cotton ginning and pressing in a month. Farmers are selling cotton due to failure of the expectation of price increase. Meanwhile, the arrival of cotton will increase in the coming timeCotton is being procured by CCI in the cotton yard of the market committee in Selu (district Parbhani) city since November 13 and 1 lakh 10 thousand quintals of cotton has been procured on nine cotton ginning and pressing in a month. Farmers are selling cotton due to failure of the expectation of price increase. Meanwhile, such is the picture that the import of cotton will increase in the coming time.After the timely arrival of monsoon this year, the cultivation of Kharif season crops like cotton, soybean, tur, moong and urid was completed by the end of June. Since the irrigated area in the taluk is very less, farmers have to depend on rainwater. Therefore, the financial support of farmers in the taluk is on the income of two crops, cotton and soybean in the Kharif season. The number of cotton ginning presses in the city is high.Apart from this, there are also cotton-based industries. Therefore, every year lakhs of quintals of cotton are purchased in the market committee and private mandis. Apart from this, a large amount of cotton is also imported from other districts. This year, cotton was cultivated in the highest area of 33 thousand 330 hectares in the Kharif season.Farmers had worked hard by buying expensive seeds, fertilizers and medicines. After satisfactory rains in June and July, the cotton crop was damaged due to heavy rains for two consecutive days in August and September, when the Kharif crops were blooming.Due to heavy rains, the fields remained waterlogged for several days and the crops turned yellow. Cotton was sown in two crops. Cotton is not getting the expected price in the private market for the last three years. Therefore, the government has started purchasing cotton from CCI at a guaranteed price of 7,521 quintals. However, the price is given on the basis of the grade of cotton. However, due to heavy rains, the quality of cotton has been affected and it has become difficult for farmers to recover their cost.Vehicles lined up to sell cotton■ Cotton is being purchased by CCI at 9 cotton pressing gins in the city since November 13.■ Farmers were expecting a good price for cotton. Some farmers had kept cotton at home for several months in the hope of price increase.■ However, farmers are seen selling cotton to CCI with the guaranteed price as they are not getting the price even after waiting for several months.read more :- Rupee falls 3 paise to 84.83 against US dollar in early trade
In early trading, the rupee drops 3 paise to 84.83 versus the US dollar.The rupee fell 3 paise to 84.83 against the US dollar in early trade on Monday, dragged down by a muted trend in domestic equities and elevated crude oil prices. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks.read more :-Indian rupee ended 7 paise higher at 84.79 per dollar on Friday versus Thursday's close of 84.86.
The Indian rupee closed at 84.79 per dollar on Friday, 7 paise higher than its closing price of 84.86 on Thursday.At close, the Sensex was up 843.16 points or 1.04 percent at 82,133.12, and the Nifty was up 219.60 points or 0.89 percent at 24,768.30. About 1741 shares advanced, 2086 shares declined, and 114 shares unchanged.read more :-Rupee rises to 84.83 against US dollar in early trade
Early trading sees the rupee rise to 84.83 versus the US dollar.At the interbank foreign exchange, the rupee opened at 84.85 and inched up further to 84.83 against the greenback, registering a gain of 5 paise from its previous close.read more :-Haryana: Government purchase of cotton limited to papers, neither the commission agents are aware... nor the farmers are aware
This evening, the rupee fell 3 paise to settle at 84.86 vs the US dollarAt the close, the Sensex was down 236.18 points or 0.29 per cent at 81,289.96, and the Nifty was down 93.10 points or 0.38 per cent at 24,548.70. About 1440 stocks advanced, 2395 declined and 102 stocks remained unchanged.read more :- Haryana: Government purchase of cotton limited to papers, neither the commission agents are aware... nor the farmers are aware
Haryana: The government only buys cotton for paper, and neither the farmers nor the commission agents are aware of this.Charkhi Dadri (Punit): Government purchase of cotton in the district is limited to papers only. Government purchase of cotton is not visible in the mandis of the district. However, the officials of the Market Committee claim that government purchase of cotton is being done in the district and about 1500 quintals have also been purchased. On the other hand, Radheshyam Mittal, Deputy Chief of Charkhi Dadri Commission Agent Association, said that government purchase of cotton is not being done in the district due to which commission agents and farmers are suffering losses. He has also demanded the government to start the purchase of cotton in Charkhi Dadri district. Apart from this, farmers have also refused to have government purchase.Let us tell you that during the Kharif season in Charkhi Dadri district, mainly millet, guar and cotton are cultivated. During the Kharif season 2024, cotton was sown by farmers in about 45 thousand acres in the district. Due to pink bollworm and bad weather, cotton production did not come up to the expectations of the farmers. On the other hand, farmers have suffered losses as their crops are not being purchased under MSP and farmers are forced to sell their crops at very low prices. Although the market committee officials claim that government procurement of cotton is being done, but according to their claim, only 1500 quintals of cotton has been purchased which is like a drop in the ocean.Arhatiya Association demanded to start government procurementCharkhi Dadri Arhatiya Association's Deputy Chief Radheshyam Mittal said that cotton has been purchased in many districts but the purchase of cotton has not started in Charkhi Dadri district yet, due to which arhatiyas and farmers are suffering losses. He said that Charkhi Dadri district produces a good amount of cotton and during the season, farmers are reaching the market with 10 to 15 thousand quintals of cotton per day and even now with about 1500 quintals of cotton per day, but due to lack of government procurement, farmers are not getting proper prices. Due to which commission agents and farmers are suffering losses. He has demanded from the government that government procurement of cotton should be started in Charkhi Dadri district as well.Government procurement of cotton is being done: Joint SecretaryCharkhi Dadri Market Committee Joint Secretary Vikas Kumar said that government procurement of cotton is being done in Charkhi Dadri district. CCI has given permission to 4 to 5 mills to purchase. He said that about 1500 quintals of cotton has been purchased in the district so far.Farmers are not aware of the procurement.Farmer Satbir Phogat and others said that they have no information about government procurement in the district. No cotton has been purchased from farmers under government procurement. Farmers allege that if cotton is bought from big commission agents and sent directly to the mills, they are not aware of it, but cotton has not been bought in the market till now.Read More :> Rupee Hits Near All-Time Low at 84.85 vs Dollar
Rupee against. Dollar Drops to Nearest All-Time Low of 84.85Mumbai, Dec 12 (PTI) The rupee fell 2 paise to near all-time low of 84.85 against the US dollar in early trade on Thursday on the back of foreign fund outflows and rising crude oil prices.Read More :>Cotton farmers in Telangana facing procurement problems: Congress MP
This evening, the rupee gained 2 paise against the dollar, closing at Rs 84.83At the close, the Sensex rose 16.09 points or 0.02 per cent to close at 81,526.14 and the Nifty rose 31.75 points or 0.13 per cent to close at 24,641.80. Around 2053 stocks advanced, 1772 declined and 109 stocks remained unchanged.Read More :- Cotton farmers in Telangana facing procurement problems: Congress MP
| title | Created At | Action |
|---|---|---|
| Rupee falls 12 paise to all-time low of 85.06 against US dollar in early trad | 19-12-2024 17:42:47 | view |
| The rupee closed 5 paise lower at 84.95 against the dollar this evening | 18-12-2024 23:17:24 | view |
| India’s Cotton Textile Exports Shrink 29% in Two Years | 18-12-2024 18:20:16 | view |
| Rupee falls 1 paisa to 84.92 against US dollar in early trade | 18-12-2024 17:24:20 | view |
| Indian rupee ended marginally lower at 84.90 per dollar on Tuesday versus Monday's close of 84.87. | 17-12-2024 23:21:28 | view |
| CCI procures 31 lakh bales of cotton by mid-December | 17-12-2024 19:04:45 | view |
| Rupee falls 1 paisa to all-time low of 84.92 against US dollar in early trade | 17-12-2024 17:16:54 | view |
| Indian rupee ended 8 paise lower at 84.87 per dollar on Monday versus Friday's close of 84.79. | 16-12-2024 22:58:17 | view |
| Cotton Market Update: Prices expected to rise this year; sale of stored cotton by farmers. | 16-12-2024 19:13:39 | view |
| Rupee falls 3 paise to 84.83 against US dollar in early trade | 16-12-2024 17:39:38 | view |
| Indian rupee ended 7 paise higher at 84.79 per dollar on Friday versus Thursday's close of 84.86. | 13-12-2024 23:11:07 | view |
| Rupee rises to 84.83 against US dollar in early trade | 13-12-2024 17:22:46 | view |
| The rupee weakened by 3 paise to close at 84.86 against the dollar this evening. | 12-12-2024 23:09:57 | view |
| Haryana: Government purchase of cotton limited to papers, neither the commission agents are aware... nor the farmers are aware | 12-12-2024 19:33:21 | view |
| Rupee Hits Near All-Time Low at 84.85 vs Dollar | 12-12-2024 17:16:35 | view |
| The rupee strengthened by 2 paise to close at Rs 84.83 against the dollar this evening | 11-12-2024 23:41:21 | view |
