Local BRS leader of Telangana involved in fake business of cotton seedAdilabad: Local BRS leaders and their associates are allegedly involved in the spurious cotton seed trade running on a large scale in Bellampalli, Sirpur (T) and Asifabad assembly constituencies.It is said, "It has become a lucrative business for many politicians, even though it is illegal and farmers suffer huge losses every season."Those selling spurious cotton seeds are considered habitual offenders and the local police invoked the PD Act against 18 such men in the year 2020 and 2021.According to sources, 132 cases were registered in Mancherial district during 2019-2022 regarding spurious cotton seed and 324 people were booked.Komaram Bheem Asifabad district collector Hemant Bhorkade said he has constituted a task force comprising agriculture, revenue and police to control spurious cotton seeds brought into the district from the Maharashtra border.He said that they would involve Sarpanchs, MPTC and ZPTC and raid suspected shops and godowns to control spurious cotton seed business in the villages.Bhimini, Nennela, Kannepalli, Vemanpalli and Tandoor in Bellampalli constituency have become hot spots for sale of spurious cotton seeds. Mandals of Bejur, Penchikalpet, Chintalmanpalli and Kautala in Sirpur (T) constituency and Rebena, Wankidi, Jainur, Kerameri, Tiryani and Narnur in Asifabad assembly constituency.Deccan Chronicle has highlighted the illegal trade of spurious cotton seeds in the past, how it affected cotton farmers, losses due to lack of germination and low yield in a recently published report.Collector Hemant Bhorkade constituted a task force to keep a check on spurious cotton seeds entering Komaram Bheem Asfibad district from various routes from Maharashtra.There are strong allegations that local BRS leaders are involved in spurious cotton seed business with the support of the constituency level elected representatives in Belampalli assembly constituency.There is news in police circles that a senior elected representative of BRS encouraged his colleague from Janakpur in Nenela mandal to do business of spurious cotton seeds and offered him 10 lakhs to start the business in Belampalli area.The local police had arrested Ranjith Kumar, a former director of the Belampalli Market Committee, a few months ago for his involvement in the spurious seed business.It is alleged that the market committee president of the BRS party in Bellampalli assembly constituency was a key player in the spurious cotton seed business in Bhimini Mandal.An Andhra trader from Repallevada in Tandoor mandal is said to be doing business of spurious cotton seed on a large scale and he was continuing it even after cases were registered against him.Local police say that some farmers migrated from Andhra region by taking agricultural land on lease from local farmers, cultivated them and sold these spurious cotton seeds to local farmers.The local farmers, who had taken the land on lease, are getting their land's fertility low after a few seasons due to the sowing of spurious cotton seeds and the use of excessive fertilizers and pesticides by Andhra farmers.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/newsdetails/2328
Farmers urged to increase cotton productionLahore: District administration, agriculture department employees and farmers should work together to increase cotton production.These views were expressed by Captain Saqib Zafar (Retd), Additional Chief Secretary, South Punjab while presiding over the review meeting of the ongoing activities regarding Cotton Action Plan 2023-24.Secretary Agriculture, Punjab Iftikhar Ali Sahu, Secretary Agriculture South Punjab Saqib Ali Atil, Commissioner Bahawalpur Division. Dr. Ehtsham Anwar, RPO Bahawalpur Zone Rai Babar, Director and Deputy Director Bahawalpur, Bahawalnagar and Rahim Yar Khan, Deputy Commissioner, Chief Irrigation Engineer Khalid Bashir and other stakeholders participated.It was informed during the briefing that this year a target has been set for cotton cultivation in Bahawalpur division of 23.14 lakh acres, out of which 14.45 lakh acres have been cultivated so far, which is 62 percent of the total target.Agriculture Secretary, Punjab Iftikhar Ali Shahu said that cotton cultivation is going on and all the stakeholders should work hard to achieve cotton cultivation and per acre production. “We should work day and night for this cause. This will not only make our farmers prosperous but will also provide stability to the country's economy. The Punjab government is using all resources for technical guidance and support to the farmers.He further said that to make cotton farming profitable, its support price of Rs 8500 per head has been announced in a time bound manner and this compensation will be ensured. Apart from this, Rs 60 crore and Rs 500 crore are being given on certified seeds. 11 billion subsidy is being given on fertilizers. He directed the concerned officers to ensure strict monitoring of the quota of respective districts under track and trace system for distribution of fertilizers.
Rupee weakens by 7 paise against US dollarThis evening, the rupee closed at a level of 82.16 against the dollar with a weakness of 7 paise.Sensex closed up by 124 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 62027.90 points with a gain of about 123.38 points.On the other hand, the Nifty closed at a level of 18314.80 points with a gain of 17.80 points.
CAI lowers cotton crop forecast for 2022-23 season to 29.8 million balesThe Cotton Association of India (CAI) on Thursday cut its cotton crop forecast by 465,000 bales to 29.8 million bales for the 2022-23 season as production is expected to decline in Maharashtra, Telangana, Tamil Nadu and Odisha. The latest estimate of cotton crop is the lowest since 2008-09 season at 29.0 million bales.At the start of the season, the association had estimated cotton crop production at 34.4 million bales as against 30.7 million bales in the previous season. CAI's latest crop down revision is against its March estimate of 31.3 million bales.The reason for the continuous cut in the estimates is being attributed to lower cotton offtake due to change in weather patterns. “3-4 pickings of cotton were expected in states like Maharashtra, Gujarat, Madhya Pradesh and Telangana. However, only two selections have taken place so far, said a Mumbai-based industry expert, seeking anonymity.Besides this, it is also estimated that farmers are holding their produce in the hope of remunerative prices as in the previous year. Cotton prices have crossed ₹100,000 per candy (1 candy = 365 kg) in the 2021-22 season. Currently, cotton is trading in the range of Rs 59,000-62,000 per candy in key markets of Rajasthan, Maharashtra, Telangana and Andhra Pradesh and Rs 61,900 per candy on the Multi Commodity Exchange.Due to less attractive prices compared to last year, this year's arrivals have come down to 17.86 million bales so far in the current season that started October, as against 24.4 million bales during the same period last year.“Domestic ginners and spinners are working in face-to-face conditions as farmers are bringing less produce. This is the reason why the market is range bound. Prices are not going up or down," said Ajay Kedia, director of Kedia Commodities, a financial services firm on commodities.As far as the demand-supply dynamics are concerned, prices should move up amid reduction in cotton production. "Despite the decline, cotton prices in the domestic markets have not picked up due to sluggish demand amid fears of a slowdown," Kedia said. Cotton prices were maintained in the domestic market as well." Bangladesh is the largest buyer of Indian cotton.CAI has retained its cotton import forecast at 1.5 million bales as against 1.4 million bales recorded last year. According to CAI data, around 700,000 bales have arrived at Indian ports so far this year. On the other hand, exports are estimated to decline by 500,000 bales to 2 million bales in the 2022-23 (October-September) season.The estimated domestic cotton consumption for this season is around 31.1 million bales, as against 31.8 million bales last year. Total availability of cotton is estimated at 34.5 million bales, which includes opening stock of 3.2 million bales and imports of 1.5 million bales. However, this left an estimated production of 29.8 million bales. The carryover stock at the end of the season is estimated at 1.4 million bales.
Spot rate inactive on cotton marketLAHORE: The local cotton market remained steady on Thursday with low trading volume. Cotton analyst Naseem Usman said that the rate of cotton in Sindh is Rs 17,000 to Rs 20,000 per head.Cotton rates in Punjab range from Rs 18,000 to Rs 21,000 per head. The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.
CCI opens cotton procurement centersHubli: To protect cotton farmers and maximize access, Cotton Corporation of India Limited (CCI) has opened more than 400 cotton procurement centers in all 11 cotton-growing states, said its assistant general manager.A press note issued by CCI states that it is a central nodal. Government of India agency for cotton undertaking procurement work under Minimum Support Price (MSP). This MSP scheme provides an alternative marketing channel for cotton farmers to sell their FAQ-grade cotton at the MSP rates announced by the Central Government for the current cotton season 2022-23. Details of MSP prices, CCI network, nearest procurement center etc. are available on CCI website www.cotcorp.org.in or farmers can download mobile app 'Cott-Ally' for more details.Since the monsoon season is approaching in the first week of June, the level to safeguard cotton from damage by rains at any point of time, the procurement window for cotton under MSP will remain open till 20.05.2023 for the current operational cotton season 2022-23 . This will ensure completion of processing of cotton before the onset of monsoon.In case of any assistance farmers can contact CCI nearest branch.
Rupee opens 1 paise weak against dollarToday, the rupee opened at a level of Rs 82.10 against the dollar with a weakness of 1 paise.Today the stock market has started with weakness.The Sensex was trading around 61,857.69, down 46.83 points, or 0.08 per cent.The Nifty was trading around 18320 with a gain of 23.85 points i.e. 0.13 per cent.
India's cotton exports to hit 18 – year low as output dropsIndia's cotton exports are set to fall to their lowest level in 18 years in 2022/23 as production lagged behind domestic consumption for the second straight year, a leading trade body said on Thursday.Lower exports from the world's biggest producer could support global prices . It could also lift domestic prices and weigh on margins of local textile companies.Exports could fall to 2 million bales in the current marketing year ending on Sept. 30, the lowest since 2004/05 and well below 4.3 million bales last year, Cotton Association of India (CAI) said in a statement.Production could fall to 29.84 million bales, down from the previous estimate of 30.3 million bales, the CAI said.Local consumption could also ease by 2.2% from a year ago to 31.1 million bales, it said.The fall in local production could bring down cotton stocks at the end of 2022/23 marketing year to 1.4 million bales, the lowest in more than three decades, the trade body said.
Rupee Down by 10 paise against dollarThis evening, the rupee closed at a level of 82.09 against the dollar with a weakness of 10 paise.Sensex fell 36 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 61904.52 points with a fall of 35.68 points.On the other hand, the Nifty closed at a level of 18297.00 points with a decline of 18.10 points.
The effect of bad weather on farming, cotton sowing season will last longerThe cotton sowing season may last longer this year, but the cash crop acreage is expected to remain low. Reason: Farmers are worried about frequent changes in weather.So far, about 9,850 hectares of cotton are sown in Muktsar district. Normally the crop is sown by mid-May, but this year the weather is relatively cool and sowing will continue till the end of May.Last year the crop was sown in about 33,000 hectares. However, the target was to bring about 45,000 hectares under cotton cultivation. This year the agriculture department has set a target of 50 thousand hectares in Muktsar district. Teams are going door to door to promote cotton sowing.Some farmers say that the cost of harvesting cotton is too high and requires extensive human labour. “Most of the farmers are worried due to the weather. He has also expressed his concern to the officials and commission agents. Cotton crops will be sown, but mainly in areas where paddy cultivation is not recommended. The cotton crop area may be less this year,” claimed a farmer.On this, Muktsar Chief Agricultural Officer (CAO) Gurpreet Singh said, 'Due to the change in weather, cotton sowing will continue till the end of May this time. We have decided to bring 50,000 hectares under cotton cultivation in the district this year. So far, about 9,850 hectares have been sown and sowing is now at its peak.”
Rupee opens 4 paise stronger against dollarThe rupee opened higher by 4 paise at 81.95 against the US dollar as against Wednesday's closing price of 81.99.The market is trading with a slight gain in the early trade.The Sensex gained 30.61 points, ie 0.05 percent, to the level of 61970.81.But it is visible.On the other hand, the Nifty is showing a gain of 6.05 points i.e. 0.03 percent at the level of 18305.45.
LAHORE: The local cotton market remained steady on Wednesday with low trading volume. Cotton Analyst.Cotton analyst Naseem Usman told that the price of cotton in Sindh is between Rs 17,000 to Rs 20,000 per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 per head.The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.
Rupee strengthened by 5 paise against US dollarThe rupee strengthened by 5 paise to close at Rs 81.98 against the dollar this evening.Sensex up by 179 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 61940.20 points with a gain of about 178.87 points.On the other hand, the Nifty closed at a level of 18315.10 points with a gain of 49.10 points.
“Golden Opportunity” for NCDEX playersWe are pleased to inform you that NCDEX has recently introduced a modified Cotton Futures contract on its platform. This is an exciting development for the cotton industry in India, and we would like to invite you to participate in this market. We already have one active contract available in Cotton & Cottonseed Cake in NCDEX.Cotton is one of the most important cash crops in India, and its trading on the NCDEX platform provides a transparent and efficient mechanism for price discovery, risk management and hedging. The modified cotton futures contract on NCDEX has been designed to meet the needs of the cotton industry and provide better risk management tools to market participants.By trading Modified Cotton futures contract on NCDEX, you can benefit from the following advantages:Improved risk management: The modified cotton futures contract provides market participants with improved risk management tools, such as reduced lot sizes, which allow for more accurate hedging.Price Transparency & Discovery: NCDEX provides real time price information on Cotton Futures, which helps you in making informed trading decisions.Easy and Efficient Trading: Trading on NCDEX is easy and efficient with low transaction costs and margin requirements.We invite you to start trading Modified Cotton Futures contracts on our platform. As a client of NCDEX, you will have access to a variety of trading tools and resources to help you succeed in the cotton futures market.If you have any questions or require more information on how to become a member of NCDEX and start trading Modified Cotton Futures contracts, please feel free to contact us.Thank you for your time, and we look forward to your participation in the Cotton Futures market on NCDEX
India is on the verge of a potential "cotton crisis"—and no one is paying attention.Washington D.C. for cotton producing countries That's the warning from Terry Townsend, former executive director of the International Cotton Advisory Committee, a US-based trade body. While the South Asian nation's current 2022/23 crop estimates by the leading statistical organization show a year-equivalent production of more than 5 million metric tons, the amount of seed cotton delivered by farmers to buying centers by the end of the February season is on pace with the previous season. 1.1 million metric tonnes behind. For a longtime industry vet, this is a huge red flag."There's a fairly constant ratio between seed cotton and lint," he said of the cotton fiber that goes into everything from T-shirts to jeans to bath towels. "So based on what we call 'arrival', you can estimate the crop fairly accurately. It is possible that there is a slight difference and some of that gets captured. But it is going to close the gap of 1.1 million metric tonnes. Not there."It is not just India, which together with China contributes half of the world's cotton supply. From Argentina's point of view, the entire global cotton system is broken. Even more so now that the pandemic and the war in Ukraine have thrown markets into disarray."We don't have the agricultural science, we don't have trained farmers, we don't have the chain-of-custody system, we don't have the things that actually result in high yields, let alone the stability of prices that would encourage those producers." to do," he said. "There's just been neglect and mismanagement."While India was one of the world's largest exporters of cotton in 2011/12, exports are running at a decade low, competing directly with Australia, Brazil and the United States. Townsend thinks the country will be a small net importer of cotton this year. He said imports would almost certainly be "significantly" larger than exports in 2023/24.“It is a matter of embarrassment for the government. It is a matter of embarrassment for the Cotton Association of India and other organisations. “And people are still claiming that somehow farmers have harvested cotton but they are not making it to the buying centers because they are waiting for higher prices and magically, in the months after the season , the cotton farmers are going to bring it. Seed Cotton.Neither the Indian Cotton Association nor the textiles ministry responded to requests for comment.Still, not everyone agrees with Townsend's forecast.Keshav Kranti, Chief Scientist, International Cotton Advisory Committee, said, “Cotton arrivals have declined, but there is no perceived shortage of cotton, which could be a cause of concern for spinners.” The gap in February, he said, has already narrowed slightly in March, a trend expected to continue. And if farmers are indeed holding cotton in the hope of better prices, "it is unlikely that this situation will continue," he said.The textile ministry's committee on cotton production and consumption estimates mill consumption of cotton this year at 5 million metric tons, or 3.7 percent less than last year and two years ago, due to weak demand for yarn in India and global economic concerns. 7.8 percent less in Kranti said. He said the same agency expects cotton production of 5.6-5.7 million metric tonnes, "sufficient for domestic consumption reducing the need for imports". "It is likely that the situation will return to near-normal levels in the coming months."But if cotton production this year is poised to be "well south" of 5 million metric tons, there isn't much time left to rally, Townsend said. Cotton prices are going to be even higher soon. And if commodities and mills are going to shut down because there's nothing to work for, hundreds of thousands of people could lose their jobs. As far as the wider industry is concerned, a reckoning is looming on the horizon.“Anyone expecting to bring a shipment of cotton from India this calendar year for shirts or pants or whatever it may be has probably already spun yarn into cloth and is now involved in the operations of dyeing, finishing, cutting and sewing. doing its work through and being done. Put on the ships, so that we can recover. through this season," Townsend said. "But certainly the whole cotton supply chain in India is going to be seriously affected by what's going on."👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/en/news-details-english/dollar-news-rupee-smartinfo-sensex-todaymarket-niftynews
Rupee opens 10 paise higher against dollarThe rupee appreciated by 10 paise to 81.96 against the US dollar in early trade on Wednesday tracking weakness in the American currency overseas.Today the stock market has started with an increase.The Sensex was trading at a level of 61,893.86 with a gain of 132.53 points, or 0.21 per cent.Nifty was trading at the level of 18316.15 with a gain of 50.20 points i.e. 0.27 per cent.
| title | Created At | Action |
|---|---|---|
| Local BRS leader of Telangana involved in fake business of cotton seed | 13-05-2023 18:03:06 | view |
| Farmers urged to increase cotton production | 13-05-2023 17:44:35 | view |
| Rupee weakens by 7 paise against US dollar | 12-05-2023 23:20:27 | view |
| CAI lowers cotton crop forecast for 2022-23 season to 29.8 million bales | 12-05-2023 20:54:34 | view |
| Spot rate inactive on cotton market | 12-05-2023 20:23:19 | view |
| CCI opens cotton procurement centers | 12-05-2023 19:49:27 | view |
| Rupee opens 1 paise weak against dollar | 12-05-2023 18:44:04 | view |
| India's cotton exports to hit 18 – year low as output drops | 11-05-2023 23:39:52 | view |
| Rupee Down by 10 paise against dollar | 11-05-2023 23:16:00 | view |
| The effect of bad weather on farming, cotton sowing season will last longer | 11-05-2023 18:50:17 | view |
| Rupee opens 4 paise stronger against dollars | 11-05-2023 18:37:59 | view |
| LAHORE: The local cotton market remained steady on Wednesday with low trading volume. Cotton Analyst. | 11-05-2023 17:43:24 | view |
| Rupee strengthened by 5 paise against US dollar | 10-05-2023 23:38:00 | view |
| “Golden Opportunity” for NCDEX players | 10-05-2023 23:01:00 | view |
| India is on the verge of a potential "cotton crisis"—and no one is paying attention. | 10-05-2023 18:44:36 | view |
| Rupee opens 10 paise higher against dollar | 10-05-2023 18:21:04 | view |
