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
On Monday, the value of the Indian rupee in relation to the US dollar finished at 84.07At the close of trading, the BSE Sensex fell 73.48 points or 0.09 per cent to close at 81,151.27. The NSE's 50-share index Nifty slipped 72.95 points or 0.29 per cent to close at 24,781.10.Read More :- The rupee closed unchanged at 84.07 against the dollar this evening
Diwali Turns Gloomy for Farmers as Unseasonal Rains Destroy Cotton Crop, Causing ₹15 Lakh LossUnseasonal rains in Gujarat’s Amreli district have dealt a severe blow to farmers, leaving many facing heavy financial losses. In Chamardi village of Babra taluka, a farmer’s 90 bigha cotton crop has been completely destroyed, resulting in an estimated loss of around ₹15 lakh.Manubhai Kanjibhai Selia, a farmer from Chamardi, cultivates cotton, groundnut, and soybean using traditional farming practices and has consistently achieved strong yields in previous years. Typically, he harvested 80–90 maunds of cotton and 45–50 maunds of groundnut annually.Recalling the damage, Manubhai said, “I had sown cotton across 90 bighas using quality seeds, fertilizers, and proper care. However, the unseasonal rains over the past three days have completely ruined my crop. The cotton bolls have fallen, and the entire field is scattered due to heavy rainfall. There is no chance of recovery, leaving us in deep distress.”He added, “Last year, I produced around 1,800 maunds of cotton from the same land, and this year too the crop was ready for harvest. Unfortunately, the untimely rains struck just before picking and ginning. Now, production may not even reach 500 maunds, with nearly 1,000–1,200 maunds already damaged. Had the crop remained intact, the estimated loss stands at nearly ₹15 lakh.”Farmers across the region are grappling with similar setbacks, highlighting the growing vulnerability of agriculture to erratic weather patterns.Read More :- Cotton farmers in Yadgir are facing losses as heavy rainfall damages their crops.
Yadgir's cotton farmers are losing money because of crop damage from excessive rain.Recent downpours in Yadgir district, caused by a weather depression, have created a cold and cloudy atmosphere over the past few days, posing a serious threat to cotton crops. Many fields, especially cotton farms, are either waterlogged or have sustained damage due to the rain.For the kharif season, the target for cotton sowing in the district was 1,86,296 hectares, with 1,66,662 hectares (89.46%) achieved so far. Farmers across the district had begun sowing as soon as the monsoon rains started, although some delayed due to a mid-monsoon rain shortage. As a result, the cotton crop is at varying stages of growth. While early planters are currently harvesting, in many areas, the crops have just reached maturity.The recent rains, however, threaten to damage the lower buds of the cotton plants, which could impact the final yield. “Continuous rainfall is endangering the cotton crops. Early rains during the onset of the monsoon were beneficial, which encouraged large-scale sowing. If it hadn't rained now, most farmers would have already harvested their crops," explained farmer Mallikarjun Patil.Adding to their woes, cotton growers are also dealing with a drop in market prices. Currently, cotton prices range between ₹6,130 and ₹6,500 per quintal, depending on quality. This price, however, does not cover the costs incurred by farmers for seeds, fertilizers, chemicals, and labor.Despite the unprofitable rates, many farmers are forced to bring their harvest to market due to obligations like loan repayments. Chamaras Malipatil, honorary president of the Karnataka Rajya Raita Sangha, emphasized the need for legislation on Minimum Support Price (MSP) for agricultural products. “The only solution is to introduce a law guaranteeing MSP for farm produce. If the central government enacts such a law, farmers can confidently sell their produce, whether in APMC Yards or to private traders,” he said.Read More :> Cotton Crops in Medak, Telangana, Are Devastated by Heavy Rains
In early trade, the rupee adds 1 paisa to 84.06 against the US dollar.The rupee showed a recovery from its lower level and gained marginally by 1 paisa to 84.06 against the US dollar in early trade on Monday, tracking positive cues from domestic equity markets and a soft American currency.However, sustained outflow of foreign funds and an upward momentum in the crude oil prices weighed on the local unit, forex traders said.Read More :> Textile Exporters Optimistic as September Sees Strong Growth
This evening, the rupee held its value versus the dollar at 84.07At the close of trading, the BSE Sensex rose 218.14 points or 0.27 per cent to close at 81,224.75. The NSE's 50-share index, Nifty, rose 113.55 points or 0.46 per cent to close at 24,863.40.Read More :- Textile Exporters Optimistic as September Sees Strong Growth
Exporters of textiles are upbeat as September shows rapid growth.Kolkata: Textile and apparel exporters are optimistic about growth as India’s geopolitical and economic environment improves. Industry players are hopeful that this positive momentum will continue, marking a significant turnaround for the sector.According to data from the Confederation of Indian Textile Industry (CITI), apparel exports surged by 17.3%, while textile exports saw a 9.5% increase in September.Textile exports for the month amounted to ₹13,800 crore, with garment exports reaching ₹7,896 crore.Former CITI chairman Sanjay Jain noted that the past two years had been challenging for garment exports, but the outlook is now improving. He expects the next 18 months to be promising, driven by rising demand from the US and European markets. "Much of the business has shifted from Bangladesh since August, and this trend is expected to continue into the next quarter," Jain said. He also highlighted that raw material prices have begun to stabilize, further supporting growth. Read More :> Cotton Crops in Medak, Telangana, Are Devastated by Heavy Rains
Cotton Crops in Medak, Telangana, Are Devastated by Heavy RainsRecent rainfall across the former Medak district has dealt a severe blow to cotton farmers, causing widespread crop damage, color deterioration, and price volatility. Farmers are anxious that the damaged cotton will fetch lower prices, leading to heavy financial losses.In Sangareddy alone, cotton has been planted on 3.5 lakh acres, with officials estimating a 20 percent loss due to the rains.“Because of the rain, the color of the cotton is changing,” said Rajasekhar, a farmer from Sangareddy. “The Minimum Support Price (MSP) is over ₹7,000 per quintal, but if the crop fails, we are in for serious trouble.”Farmers from Ramayampeta in Medak, like Srinivas Reddy, report that cotton plants have fallen over large areas. In Medak and Siddipet districts, the damage has also been extensive, with 200 acres affected in Medak alone, where 30,000 acres are under cotton cultivation.In Siddipet, where cotton is grown on 1.5 lakh acres, farmers are facing significant losses.The recent typhoon, coupled with continuous rainfall, has been identified as the primary cause of the damage. Farmers are now urging the state government to procure the damaged cotton at the MSP and offer support to help mitigate the rising costs of farming.Read More :- USDA Revises Bangladesh's MY 2024-25 Cotton Consumption Forecast to 7.8 Million Bales
In early trade, the rupee falls 1 paisa to 84.07 against the US dollar.The rupee slipped 1 paisa to 84.07 against the US dollar in early trade on Friday, as the weakening American currency failed to support the local unit amid negative domestic equity markets and higher crude oil prices.Read More :> USDA Revises Bangladesh's MY 2024-25 Cotton Consumption Forecast to 7.8 Million Bales
This evening, the rupee fell 7 paise to settle at 84.07 vs the US dollarAt the close of trading, the BSE Sensex fell 494.75 points or 0.61 per cent to close at 81,006.61. The NSE's 50-share index, Nifty, fell 220.55 points or 0.88 per cent to close at 24,750.75.Read More :- Surat’s Man-Made Fibre Industry Set for Major Boost with New Textile Policy
| title | Created At | Action |
|---|---|---|
| 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 |
| The Indian rupee closed unchanged at 84.07 against the US dollar on Monday | 21-10-2024 23:44:10 | view |
| Diwali Marred for Farmers as Unseasonal Rains Wipe Out Cotton Crop | 21-10-2024 20:11:40 | view |
| Cotton farmers in Yadgir are facing losses as heavy rainfall damages their crops. | 21-10-2024 19:30:17 | view |
| Rupee gains 1 paisa to 84.06 against US dollar in early trade | 21-10-2024 17:17:28 | view |
| The rupee closed unchanged at 84.07 against the dollar this evening | 18-10-2024 23:31:37 | view |
| Textile Exporters Optimistic as September Sees Strong Growth | 18-10-2024 19:10:47 | view |
| Cotton Crops in Medak, Telangana, Are Devastated by Heavy Rains | 18-10-2024 18:05:26 | view |
| Rupee slips 1 paisa to 84.07 against US dollar in early trade | 18-10-2024 17:23:31 | view |
| The rupee declined by 7 paise to close at 84.07 against the US dollar this evening | 17-10-2024 23:34:15 | view |
