It's Likely to Rain More in July Than UsuallyThe India Meteorological Department (IMD) has forecast above-normal rainfall for most parts of the country in July, except for the northeast and some eastern states like parts of western Bihar, eastern Uttar Pradesh, and Jharkhand. According to the IMD's monthly outlook, rainfall across the country in July is expected to be above normal, exceeding 106% of the long-period average (LPA) of 280.4 mm. The IMD warned of a high likelihood of extreme rainfall in Odisha, Karnataka, Haryana, parts of Uttar Pradesh, Chhattisgarh, and Jharkhand.The monsoon is predicted to intensify in the second half of the season (August-September) as La Niña conditions develop, while El Niño conditions over the equatorial Pacific remain neutral. In India, El Niño is associated with poor monsoons, whereas La Niña typically brings abundant rainfall.Additionally, the IMD forecast that minimum temperatures in July will likely be above normal in many parts of the country, except for some areas in the northwest, central India, and the southeastern peninsula. Maximum temperatures are expected to be normal to below normal in parts of northwest India and southern peninsular India, excluding the west coast.The IMD noted that northwest India experienced its warmest June since 1901, while the east and northeast regions had their fifth warmest June since 1901. This led to the highest number of heatwave days (181) in the last 15 years, surpassing the previous record of 177 days in 2010.This summer, India experienced its second hottest period, with 536 heatwave days across various meteorological subdivisions—the highest in the last 14 years after 2010, which had 578 days.In addition to the extreme heat in June, India also faced a deficit monsoon, receiving 11% less rainfall than normal, marking the seventh lowest rainfall in the past 24 years. The northwest region had the highest deficit, followed by the east, northeast, and central India. However, the southern peninsula received 14.2% above-normal rainfall. The subdued rainfall activity was attributed to a weaker Madden-Julian Oscillation and the lack of low-pressure systems forming over the Bay of Bengal.The IMD observed a trend indicating a higher probability of above-normal rainfall in July if June experienced deficit rainfall.Read more :- INTERVIEW: CAI President on CNBC (1/7/24)
CNBC interview with the president of CAI (1/7/24).QUESTION:How do you see cotton sowing for the new season in India?ANSWER:About 50-55% of the 60 lakh hectares have been sown so far, which is more than last year at this time. The main reason for this is Maharashtra having sown 20 lakh hectares so far, which is a little earlier than last year. So, we may see more sowing this time. We will have to wait till July 20-25 to know the actual total sowing.Cotton sowing in North India has gone down by about 40% to 50%. There are also reports from Gujarat that cotton sowing is down by 15-20%. Sowing in Khandesh and Vidarbha of Maharashtra may be down by 5-10%, but the sowing area in Marathwada will remain the same.Looking at the trend of farmers in North India and Gujarat, we can say that total cotton sowing in India will go down by 10-15%. The main reason is that the income of farmers in cotton sowing has decreased because the labor cost has increased and the production (yield) is very low. I read a research that in Gujarat if farmers grow peanuts they get Rs 50,000-60,000 per acre, while cotton only gives Rs 20,000.Where there is no water facility, farmers have no option other than cotton. And those who have water facility have many other options other than cotton. Looking at the trend of North India and Gujarat, we can say that there will be a 10-15% reduction in total cotton sowing in India.QUESTION:Which states are included in North India?ANSWER:North India includes Punjab, Haryana and Rajasthan. In Rajasthan, cotton sowing is done in lower Rajasthan and upper Rajasthan. So far this year, sowing has been done in 4.5 lakh hectares in Rajasthan, while last year sowing was done in 10 lakh hectares, so we can say that sowing in Rajasthan is 50-55% less.QUESTION:We have heard that the ministry is going to allow new seed technology. Will the new seed be used for sowing this year, or how long will it take?ANSWER:We have also received news of new seed permission on WhatsApp like you, but we do not have any official confirmation yet. If we get any official confirmation, we will inform the trade. Sowing of new seed is impossible this season as the sowing time will end by the end of July.If the new seed gets permission, it will be tested first, and only after the test is successful, the government will give the new seed to the farmers. Apart from this, the central government will have to take approval from all the states where cotton is grown. New seed will be given to the farmers only after getting approval from all the states. Considering this, it is a long process and it will take time.QUESTION:MSP has increased by 7%, cotton sowing has started. How is the cotton balance sheet of CAI and the demand from mills?ANSWER:This year cotton production and consumption are in similar numbers, around 318 lakh bales. Cotton exports are estimated at 26 lakh bales and imports at 16 lakh bales, so this export-import gap will reduce from last year's closing stock by around 10 lakh bales.The demand from mills is good, the demand from spinning mills is good, and mills are making a profit of Rs 5 to Rs 15 per kg of yarn. Cotton is also readily available and rates are reasonable. Indian mills are currently running at 90-95% capacity. Cotton mills in North India and Central India are running at 100% capacity.QUESTION:Volatility of 2-4% in ICE futures has become normal. What is its impact on the Indian market?ANSWER:Yes, I agree 100%, there is huge speculation going on in ICE futures. 2 months ago ICE futures went up to 103 cents and today it is at 72-73 cents, which is a drop of about 33%. But in India the prices have gone down by only Rs 3,000-4,000 as we have huge consumption of cotton. Also the arrival of cotton is almost over and CCI and ginners have very limited stock, so whatever price the stockers set, mills are buying. Mills will run in this limited stock for the next 3-4 months. This huge fluctuation in ICE is not having a good impact on the entire textile industry as the world market is following ICE futures.Read more :- Chinese Share of Indian Yarn Exports More Than Doubles in FY24
This evening, the rupee ended the day at Rs 83.51 against the dollar, marking a decline of 7 paise.At the close of trading, the BSE Sensex fell 34.73 points or 0.044% to close at 79,441.45. The NSE 50-share index Nifty slipped 18.10 points or 0.075% to close at 24,123.85.read more:- Chinese Share of Indian Yarn Exports More Than Doubles in FY24
India's monsoon rains arrive early and cover the whole nationIndia's annual monsoon rains covered the entire country on Tuesday, six days ahead of the usual time of arrival, the state-run weather department said, although rain totals are still 7% below average so far this season.In a typical year, rains usually lash the southwestern coastal state of Kerala around June 1 and move northwards to cover the entire country by July 8.India's summer rains, crucial for the third-largest Asian economy, spread nationwide by the end of the first week of July, allowing farmers to plant crops such as rice, cotton, soybeans and sugarcane.The country is likely to receive above-average rainfall in July after receiving an 11% below-average showers in June, the India Meteorological Department said on Monday, keeping alive the possibility of higher farm output and economic growth.
In early trade, the rupee drops 12 paise to 83.56 against the US dollar.The rupee depreciated 12 paise to 83.56 against the US dollar in early trade on July 2, weighed down by the strengthening of the American currency in the overseas markets and elevated crude oil prices. READ MORE :> Chinese Share of Indian Yarn Exports More Than Doubles in FY24
This evening, the rupee ended the day 6 paise weaker against the US dollar, at 83.44.At the close of trading, the BSE Sensex rose 443.46 points or 0.56% to close at 79,476.19. The NSE 50-share index Nifty rose 131.35 points or 0.55% to close at 24,141.95.Read more :- Chinese Share of Indian Yarn Exports More Than Doubles in FY24
In FY24, China's portion of India's yarn exports more than doubles.In FY24, the share of Indian yarn exports to China surged from 10% in FY23 to 21%. This increase is attributed to competitive prices of Indian cotton and issues surrounding Xinjiang cotton.Key highlights include:Cotton yarn exports rose by 83% in FY24.Yarn exports accounted for 32% of India's total production in FY24, up from 19% in FY23.Allegations of forced labor in Xinjiang cotton production and the lifting of Covid-19 restrictions in China since January 2023 have led to increased demand for Indian yarn.Bangladesh, China, and Vietnam together accounted for 60% of Indian cotton yarn exports.This upward trend is expected to continue in FY25 due to ongoing global concerns regarding Xinjiang cotton and the competitive pricing of Indian cotton.READ MORE :> Kharif sowing as of 28 June rises 33% year-on-year to 24 million hectares
In early trade, the rupee drops 6 paise to 83.40 against the US dollar. Stock Market LIVE Updates: Sensex up 230 pts, Nifty at 24,050 auto, FMCG, metals shineRead More :> Farming Activities Accelerate in North Maharashtra
Farming In North Maharashtra Is IncreasingKharif crop sowing has gained significant momentum in parts of North Maharashtra's districts following recent rains.According to the agriculture department, as of June 24, sowing has been completed on 6.21 lakh hectares, representing 30% of the total target of 20.64 lakh hectares. This marks a substantial increase from 11% on June 18.Maize, soybean, moong, tur, cotton, bajra, urid, and paddy are the major Kharif crops in the region.Sowing activities have notably accelerated in Dhule and Jalgaon districts, with operations also starting in Nashik and Nandurbar districts.In Jalgaon district, the estimated Kharif acreage is 7.69 lakh hectares, with sowing completed on 2.92 lakh hectares, accounting for 38% of the target. In Dhule district, sowing has been completed on 1.35 lakh hectares out of a total of 3.79 lakh hectares, or 36% of the target.In Nashik district, sowing has been completed on 1.31 lakh hectares out of the projected 6.41 lakh hectares, representing 20% of the target.In Nandurbar, Kharif sowing has been completed on 61,000 hectares out of a total of 2.73 lakh hectares, accounting for 22% of the target. Of the 6.21 lakh hectares sown so far in North Maharashtra’s districts, cotton accounts for the majority, with 4.24 lakh hectares planted.The average area under cotton cultivation in North Maharashtra is approximately 8.72 lakh hectares. Currently, cotton sowing has been completed on 4.24 lakh hectares, which is 49% of the total cotton acreage.Cotton is sown across all four districts of North Maharashtra — Jalgaon, Dhule, Nandurbar, and Nashik. In Nashik, cotton is specifically sown in Malegaon and Yeola talukas.Read More :> Kharif sowing as of 28 June rises 33% year-on-year to 24 million hectares
As of June 28, the amount sown in Kharif increased by 33% annually to 24 million hectares.Area under kharif crops in the 2024-25 crop year (July-June) as of 28 June rose 33% year-on-year to 24.1 million hectares (mh), according to data released by the agriculture ministry on Friday.The increase in acreage is largely due to a rise in cultivation of pulses, oilseeds and cotton.Depending upon region, farmers kick off plantation of kharif crops with the first showers of the four-month southwest monsoon season that begins in June. Unlike Rabi or winter crops, Kharif crops such as paddy and maize require plentiful rainfall.The southwest monsoon, crucial for the world's fifth-largest economy, makes the onset over the Kerala coast on 1 June and covers the entire country by 15 July.Importance of monsoonThe timely arrival of the monsoon is crucial, especially for the agricultural sector, as around 56% of the net cultivated area and 44% of food production depend on monsoon rains.Normal precipitation is essential for robust crop production, maintaining stable food prices, especially for vegetables, and bolstering economic growth. Agriculture contributes about 18% to India's gross domestic product, underscoring the importance of a good monsoon.This year's monsoon lost momentum after reaching Mumbai on 9 June—two days ahead of schedule and remained stuck in the eastern region for about three weeks, preventing the agriculture ministry from releasing the acreage data until Friday. With the monsoon's progress over the eastern areas and the India Meteorological Department declaring the arrival of the rain-bearing winds in Delhi, the ministry on Friday released the kharif crop acreage data for the first time this season.Precipitation in the country as of 28 June was 14% deficient since the beginning of the June-September monsoon season, according to IMD.Pulses take the leadWhile the area under paddy or rice, the main kharif crop, was a tad lower year-on-year at 2.2 mh, pulses acreage was 181% higher at 2.2 mh, including 1.3 mh area under tur or arhar and 318,000 hectares area under urad.The government has been trying to encourage farmers to cultivate more area under pulses, especially tur, in view of crop failure in the past two consecutive years and achieve self-sufficiency in pulses and oilseeds by 2027.Consumer affairs secretary Nidhi Khare earlier this month told Mint that food prices, especially those of pulses, which have been skyrocketing for over a year will ease after July as farm output is expected to be good amid normal monsoon.According to the agriculture ministry data, the area under oilseeds rose 18.4% to 4.3 mh, primarily due to a higher coverage under soybean. As of Friday, farmers planted soybean across 3.36 mh, sunflower across 37,000 hectares and sesamum across 43,000 hectares, against 163,000 hectares, 26,000 hectares and 26,000 hectares, respectively in the year-ago period.The area covered under groundnut, however, was lower at 819,000 hectares compared to the previous year’s 1.45 mh.In the case of millets, the area was nearly 15% down year-on-year at 3 mh. Bajra was sown over 409,000 hectares compared to 2.5 mh last year. The maize area was 2.3 mh against 810,000 hectares a year ago.Acreage under cash crops like sugarcane and cotton was 5.68 mh and 5.9 mh, respectively, compared with 5.5 mh and 601,000 hectares a year ago. Farmers planted jute and mesta across 562,000 hectares against 601,000 hectares a year ago.Read More :> Agriculture Department warns cotton farmers: Pink bollworm threat to production
Tonight, the rupee gained 8 paise against the dollar, ending the session at Rs 83.38.At the close of trading, the BSE Sensex closed at 79,032.73, down 210.45 points or 0.27%. It touched a new high of 79,671.58 during the day. The NSE's 50-share index Nifty rose 33.90 points or 0.14% to close at 24,010.60. It also made a new all-time high of 24,174 during the day.read more:- India's monsoon overcomes delay, set to cover country on time
The Agriculture Department alerts cotton growers to the production threat posed by pink bollworms.Hanumangarh: The Agriculture Department has warned the farmers of the district that the pink bollworm infestation in BT cotton can again affect production this year. Last year too, the district faced a serious problem of this pest, which badly affected the cotton production.The area of sowing of BT cotton has remained around 40 percent this time too, despite the department continuously making farmers aware. In view of the possible outbreak of pink bollworm, the department has given information about management measures since February itself. Measures of management have been suggested to disrupt the life cycle of pink bollworm by destroying its pupa stage. However, some farmers did not pay attention to these measures and did early sowing.In some fields, where early sowing of cotton was done, despite adequate irrigation water and timely irrigation, due to extreme heat, flowers came out in the plants and pink bollworm infestation has been observed.The department has advised farmers to follow pink bollworm management measures in early sown crops. Spray insecticides on fixed days every week and pluck and destroy the flowers and pods affected by pink bollworm. Use neem based pesticides till 60 days of age and do not use synthetic and ready mix insecticides in BT cotton.District Collector made aware of farmers' problemsBhartiya Kisan Union Tikait District Hanumangarh submitted a memorandum to the District Collector on Wednesday under the leadership of District President Resham Singh Manuka. Various demands of farmers were raised in the memorandum, in which compensation of Rs 1125 crore was demanded for the loss caused by pink bollworm last year, but no farmer has received compensation yet.The farmers demanded the state government to start procurement centers in all mandis for the purchase of groundnut and to start government procurement of moong from September 1. Apart from this, there was a demand to start government procurement of paddy by September 15 at any cost and to provide full electricity to the agriculture sector.Read More :> India's monsoon overcomes delay, set to cover country on time
India's monsoon beats the delay and is expected to arrive on schedule.India's annual monsoon has covered more than three-fourths of the country and it is set to cover the entire country on time for the planting season despite stalling earlier this month, two senior weather officials said on Thursday.Summer rains, critical for economic growth in Asia's third-largest economy, usually begin in the south around June 1 before spreading nationwide by July 8, allowing farmers to plant crops such as rice, cotton, soybeans, and sugarcane."Monsoon is advancing quickly in northern India and will cover the entire country on time," said an official of the India Meteorological Department (IMD), who spoke on condition of anonymity as he was not authorised to speak to the media.The southwest monsoon advanced on Thursday, covering more parts of Rajasthan, most of Madhya Pradesh, additional areas of Uttar Pradesh, Bihar, and nearly all of Uttarakhand and Himachal Pradesh, the IMD said in a statement.India has received 19% less rainfall since June 1, IMD data showed, as the monsoon's progress had stalled, with almost the entire country except for a few southern states experiencing shortfalls and parts of the northwest gripped by heatwaves.The lifeblood of the nearly $3.5-trillion economy, the monsoon brings nearly 70% of the rain India needs to water farms and refill reservoirs and aquifers.Without irrigation, nearly half of the farmland in the world's second-biggest producer of rice, wheat, and sugar depends on the annual rains that usually run from June to September.Rainfall is picking up, and most parts of the country will receive good rainfall in the next fortnight, accelerating the planting of summer-sown crops, another weather official said.Read more :- Brazil to Surpass US as Top Cotton Exporter
This evening, the rupee gained 11 paise to end higher against the dollar.At the close of trading, the BSE Sensex closed at 79,243.18, up 568.93 points or 0.72%. It touched a new high of 79,396.03 during the day. The NSE's 50-share index Nifty closed at 24,044.50, up 175.70 points or 0.74%. It also made a new all-time high of 24,087.45 during the day.read more:-Brazil to Surpass US as Top Cotton Exporter
Brazil Will Overtake the US as the Leading Cotton ExporterBrazil is poised to become the world’s leading cotton exporter in the 2023-24 season, overtaking the United States, which has held the top spot for decades. This shift follows an over 80% surge in Brazilian cotton shipments this season, according to the local exporters’ association, Anea.With just a month remaining in the 2023-24 cycle, Brazil's ascension to the number one exporter position is now certain, driven by record production, strong demand from Asian countries, and a significant drop in US output due to adverse weather conditions.It happened a little earlier than we imagined,” said Anea head Miguel Faus. “The main reason is the failure of the US crop, while Brazilian production increased.Faus predicts that Brazil's exports could rise further in the next season, as farmers are set to harvest another record crop, with expectations of continued growth into 2025-26. In the medium term, Brazil will consolidate itself in this leadership position,” he said.The US Department of Agriculture (USDA) recently increased its forecast for Brazil’s cotton exports by 300,000 bales to 12.4 million bales, while cutting the US forecast by 500,000 bales to 11.8 million bales.A USDA report noted that the US had led global cotton exports since the early 1990s. However, Brazil surpassed the US in production in 2023-24, ranking third globally behind China and India, a position expected to continue in 2024-25.Brazil has also been increasing its exports of other commodities, including corn and coffee. While it remains the world's largest coffee producer and exporter, Faus noted that Brazil's influence in the cotton market, though significant, is more balanced. In the case of cotton, the forces are more balanced… But of course, if Brazil’s production rises or falls, the market will be paying attention, he said.Key buyers of Brazilian cotton include China, Vietnam, Bangladesh, Turkey, and Pakistan.Read More :> Indore Division Farmers to Sown Kharif Crops on Nearly 21 Lakh Hectares
Farmers in the Indore Division Will Plant Kharif Crops on Almost 21 Lakh HectaresIndore: Farmers in the Indore division are expected to sow kharif crops across nearly 21 lakh hectares, with soybeans, cotton, and maize likely to dominate the planted area, according to the farm department.The area under maize cultivation is anticipated to increase compared to last year, driven by higher maize prices in the previous season, which have attracted farmers in various regions. Maize is expected to be cultivated on 3.4 lakh hectares in the Indore division this season, as per the department's projections.The farm department has set a target of 5.6 lakh hectares for cotton in the division, marking an increase of close to 3% from the previous year.With recent showers and adequate soil moisture, farmers in many parts of Indore, Dhar, Khandwa, Alirajpur, and Jhabua, among other places, have completed more than 50% of kharif crop sowing.Sowing of kharif crops is progressing well, and current weather conditions are favorable for crop growth. The area under maize is higher than last season, and cotton acreage has also increased,said an official from the farm department who wished to remain anonymous.According to a field survey compilation report from the farm department issued on June 21, farmers are likely to sow soybeans on 9.3 lakh hectares and cotton on 5.7 lakh hectares. Soybeans, cotton, maize, and pulses are the main kharif crops in the Indore division.Ramswarup Patel, a farmer from Sanwer, said, We have sown soybeans on 20 bighas, the same as last year, because we do not have many options to switch. This region is well suited for soybeans and gives a good yield. Climatic conditions look good and suitable for crop growth.Read More :> Cotton Loses Its ‘Most Profitable Crop’ Status in Andhra Pradesh’s Undivided Kurnool District
| title | Created At | Action |
|---|---|---|
| July Likely to Receive Above-Normal Rainfall | 03-07-2024 01:36:49 | view |
| INTERVIEW: CAI President on CNBC (1/7/24) | 03-07-2024 00:45:53 | view |
| The rupee closed 7 paise lower at 83.51 against the US dollar this evening. | 02-07-2024 23:50:28 | view |
| India's monsoon rains cover entire country ahead of time | 02-07-2024 23:34:57 | view |
| Rupee falls 12 paise to 83.56 against U.S. dollar in early trade | 02-07-2024 17:15:03 | view |
| The rupee closed 6 paise lower at 83.44 against the US dollar this evening. | 01-07-2024 23:19:03 | view |
| Chinese Share of Indian Yarn Exports More Than Doubles in FY24 | 01-07-2024 21:36:30 | view |
| Rupee falls 6 paise to 83.40 against US dollar in early trade | 01-07-2024 17:20:47 | view |
| Farming Activities Accelerate in North Maharashtra | 29-06-2024 18:52:12 | view |
| Kharif sowing as of 28 June rises 33% year-on-year to 24 million hectares | 29-06-2024 17:48:18 | view |
| The rupee strengthened by 8 paise to close at 83.38 against the US dollar this evening. | 28-06-2024 23:44:20 | view |
| Agriculture Department warns cotton farmers: Pink bollworm threat to production | 28-06-2024 18:51:42 | view |
| India's monsoon overcomes delay, set to cover country on time | 28-06-2024 00:51:03 | view |
| This evening, the rupee strengthened by 11 paise to close at Rs 83.46 against the dollar. | 27-06-2024 23:56:12 | view |
| Brazil to Surpass US as Top Cotton Exporter | 27-06-2024 19:23:05 | view |
| Indore Division Farmers to Sown Kharif Crops on Nearly 21 Lakh Hectares | 27-06-2024 19:04:04 | view |
