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The rupee fell 2 paise to 83.81 against the US dollar in early trade.Mumbai, Oct 1 (PTI) Rupee fell 2 paise to 83.81 against the US dollar in early trade on Tuesday, tracking massive outflow of foreign funds amid volatile global markets.Read More :> India's monsoon rains hit four – year high in boost to crop output

The monsoon rains in India reached a four-year high, increasing crop yieldIndia's monsoon rainfall this year was its highest since 2020, with above-average precipitation for three consecutive months, helping the country recover from last year's drought, the state-run weather department said on Monday.India's annual monsoon provides almost 70% of the rain it needs to water farms and replenish reservoirs and aquifers, and is the lifeblood of a nearly $3.5 trillion economy. Without irrigation, nearly half of Indian farmland depends on the rains that usually run from June to September.Rainfall over the country from June through September was 107.6% of its long period average, the highest since 2020, according to the India Meteorological Department (IMD).India received 11.6% more rainfall than average in September, following 9% and 15.3% above-average rainfall in July and August respectively, the IMD data showed.Above-average rainfall in September, arising from a delayed monsoon withdrawal, damaged some summer-sown crops like rice, cotton, soybean, corn, and pulses in certain regions of India.However, the rains may also enhance soil moisture, benefiting the planting of winter-sown crops such as wheat, rapeseed, and chickpea.India badly needed good rainfall in 2024 after its driest year in five years in 2023, which depleted reservoir levels and trimmed production of some crops. This forced New Delhi to impose curbs on exports of rice, sugar and onions.Rainfall distribution was generally good, which helped farmers expand areas under most crops, said Ashwini Bansod, vice president, commodities research at Phillip Capital India."This means we could have larger harvests of some summer-sown crops, potentially helping the government to relax trade restrictions in certain cases," she said.India on Saturday lifted curbs on exports of non-basmati white rice. That came a day after New Delhi cut export duty on parboiled rice to 10%, buoyed by a new crop in the offing and higher inventories in state warehouses.Read More :-  Maharashtra Govt Distributes ₹2,399 Cr As Subsidy To Cotton & Soybean Farmers Ahead Of Assembly Elections

Before the assembly elections, the Maharashtra government distributes ₹2,399 Cr in subsidies to farmers of cotton and soybeansWith the Maharashtra assembly elections a month away, the Mahayuti government is focusing on farm issues, especially cotton and soybean growing farmers. In the cabinet meeting held on Tuesday, the government made a major announcement of distribution of Rs 2399 crores as subsidy to soya-cotton farmers.In the first phase, Rs 2,398 crore 93 lakh rupees are being deposited in the accounts of 49 lakh 50 thousand account holders. A total of Rs 4,194 crores are alloted through the DBT system, out of which Rs 1,548 crore 34 lakh have been provided for cotton and Rs 2,646 crore 34 lakh for soybeans growers. Total 96 lakh account holder farmers will benefit out of this scheme, said state minister Dhananjay Munde."The distribution of subsidies to cotton and soybean farmers for the kharif season of 2023 was launched today (Monday, September 30) in the state cabinet meeting. Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnavis and Ajit Pawar deposited the subsidy in the farmers' accounts online," the chief minister's office informed.Read More :-  Cotton farming crisis in Andhra Pradesh: rising costs and falling yields

This evening, the rupee fell 9 paise to settle at 83.79 against the US dollarAt the close of trading, the BSE Sensex fell 1,272.07 points or 1.49 per cent to close at 84,299.78. The NSE's 50-share index, Nifty, fell 368.10 points or 0.41 per cent to close at 25,810.85.Read More :-  Cotton farming crisis in Andhra Pradesh: rising costs and falling yields

In early trade, the rupee drops 6 paise to 83.75 against the US dollar.Rupee depreciated 6 paise to 83.75 against the US dollar in early trade on Monday amid negative equity market sentiment and outflow of foreign funds.Read More  :>Cotton farming crisis in Andhra Pradesh: rising costs and falling yields

Andhra Pradesh's cotton agricultural crisis: declining yields and growing expendituresFarmers who have been struggling with cotton farming for four consecutive years are still sowing the crop with hope, but due to bad weather and pests, they are continuously suffering losses.Increase in pesticide cost:Infestation of pests on clothes and indiscriminate use of pesticides is increasing the cost of farmers. Cotton yield has decreased due to lack of rain and pest attack, due to which farmers are in debt.Disorganized procurement centersAlthough cotton picking has started, the government has not yet set up procurement centers. Private traders have brought down the prices of cotton to Rs 5,500 to Rs 6,500 per quintal, causing losses to farmers. Farmers have demanded the government to immediately intervene and set up CCI procurement centers.Debt and yield problemsThe cost of cotton cultivation is increasing, while the amount of yield per acre has decreased to only 4-5 quintals. Farmers say that if the price of cotton does not increase, they will have to suffer even bigger losses.Outbreak of Jaju diseaseThe outbreak of Jaju disease has increased on cotton plants, affecting the yield. Cotton leaves are turning red and production is falling drastically. Farmers are worried about this crisis and are demanding help from the government.Read More :> Textile Mills Urge Cotton Corporation of India to Establish Warehouses in Tamil Nadu

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