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Haryana sets target of increasing area under cotton by over three lakh acreThe Haryana agriculture department has set a target of increasing area under cotton production up to 19.25 lakh acre in the 2022 Kharif season even though during the previous season, cotton was grown on 15.90 lakh acre.Cotton is mainly grown in Sirsa, Fatehabad, Hisar, Bhiwani, Jind, Sonepat, Palwal, Gurugram, Faridabad, Rewari, and Charkhi Dadri districts, an official spokesperson said, pointing out that during the previous season, cotton was infested with pink ball worm to some extent in few pockets of the state and losses in the yield were noticed.Keeping in view the serious threat of pink ball worm to cotton crop, additional chief secretary (agriculture and farmers’ welfare) Sumita Misra has directed the field staff to complete farmers’ awareness campaign and ensure cleaning of old cotton sticks/piles and fumigation of cotton ginning factories and oils mills in the state by March 31.The spokesperson said taking note of the said threat, the department has already covered about 85% of the villages in the cotton-growing districts and educated farmers of the areas through kisan melas and trainings by involving CCS Haryana Agricultural University, Hisar and private firms.The department has also chalked out a weekly activity calendar to increase area under cotton cultivation and to implement advisories throughout the cropping season for better production.Hardeep Singh, director general (agriculture), is leading the campaign of cleaning the old stock of cotton sticks in villages and fumigation of cotton factories.Among other initiatives being taken up, the spokesperson said special emphasis has been given to management of the pink ball worm to avoid yield losses. Also, the department has issued advisory to all cotton ginning and pressing factories to ensure fumigation of their premises. An advisory flex board has also been displayed on premises of the said firms.“The license of these firms will be renewed after compliance of fumigation advisory and producing certificate thereof,” the spokesperson said.

Cotton acreage set to grow by 10-15% on higher prices for fibreThreat from illegal HTBt cottonseed continue to stare at seed firmsCottonseed companies are gearing up for a high-demand market for seeds as they expect renewed interest from farmers following very good prices for the fibre crop.The seed industry forecast a growth of 10-15 per cent in the cotton acreage in the upcoming kharif season. Though higher rainfall and floods damaged the crop in many States, the season witnessed good overall productivity.Deficit in areaThe cotton area witnessed a deficit of 7.73 lakh hectares at 120 lack hectare as against the previous year’s acreage of 127.87 lack hectare.The National Seed Industry of India (NSAI) has pegged the the requirement of cottonseed at 4.50-4.75 crore packets (of 450 gm each) as against the last year’s 4.40-4.50 crore packets. “This could vary depending on the rain condition and erratic weather, which could impact the sowings. Sometimes farmers will have to go for resowing,” M Prabhakara Rao, President of NSAI told BusinessLine. He said that the area would increase due to all-time high price. The availability for some hybridseeds may be less than the demand. “But the overall supplies may be just about adequate if there is no requirement for the seed due to erratic rains,” he pointed out.“There was dip in area in 2021 by about 17 per cent when compared to the area in the previous year. It may recover by at least by 12 to 15 per cent,” M Ramasami, Chairman of Rasi Seeds (Private) Limited, said.Unauthorised seedsThe seed industry, which is facing a serious challenge from players that are selling unauthorised herbicide-tolerant cottonseeds, feels that the problem continues to pose problems.Asked whether the Bt-3 seeds will continue to pose problems, Ramasami admitted that would create some trouble. “The only possible solution is that the government should come forward to approve and see that the research-based companies are allowed to sell,” he said.A top executive of a cottonseed company said that the HTBt seed occupied about 18-20 per cent of the total cotton area last kharif. Farmers unions, however, argued that the area under illegal cotton could well be beyond 30 per cent. “Lower incidence of Pink Bollworm resulted in good quality cotton. This has led to very high commodity prices. They went up by more than 1.5 times the minimum support price,” he said.

U.S. EXPORT SALES FOR WEEK ENDING 17/03/2022   Cotton:  Net sales of 307,500 RB for 2021/2022were down 17 percent from the previous week and 7 percent from the prior 4-week average.  Increases primarily for China (130,200 RB, including decreases of 8,900 RB), Turkey (71,700 RB, including decreases of 200 RB), Bangladesh (26,500 RB), Pakistan (25,700 RB, including 200 RB switched from the United Arab Emirates and decreases of 100 RB), and Vietnam (23,400 RB, including 1,400 RB switched from South Korea, 500 RB switched from Indonesia, 500 RB switched from Japan, and decreases of 200 RB), were offset by reductions for South Korea (1,400 RB), Guatemala (200 RB), and the United Arabia Emirates (200 RB).  Net sales of 67,400 RB for 2022/2023were primarily for China (21,800 RB), Thailand (13,600 RB), Pakistan (9,700 RB), Turkey (7,900 RB), and Guatemala (6,100 RB).  Exports of 442,700 RB--a marketing-year high--were up 36 percent from the previous week and 29 percent from the prior 4-week average.  The destinations were primarily to China (173,500 RB, including 46,000 RB - late), Vietnam (74,700 RB, including 12,500 RB - late), Turkey (50,400 RB, including 5,500 RB late), Pakistan (37,100 RB, including 2,300 RB - late), and Mexico (23,700 RB).  Net sales of Pima totaling 3,000 RBwere down 76 percent from the previous week and 53 percent from the prior 4-week average.  Increases were primarily for India (1,200 RB), China (700 RB), and Turkey (600 RB).  Exports of 5,800 RB were down 25 percent from the previous week and 61 percent from the prior 4-week average.  The destinations were primarily to China (2,000 RB), Peru (1,700 RB), and Vietnam (1,500 RB).   Optional Origin Sales:  For 2021/2022,options were exercised to export 4,400 RB to Pakistan from the United States.  The current outstanding balance of 57,200 RB is for Vietnam (52,800 RB) and Pakistan (4,400 RB). Exports for Own Account: For 2021/2022,the current exports for own account outstanding balance is 100 RB, all Vietnam.Late Reporting: For 2021/2022,exports totaling 80,600 RB of upland cotton were reported late to China (46,000 RB), Vietnam (12,500 RB), Bangladesh (5,900 RB), Turkey (5,500 RB), South Korea (3,600 RB), Indonesia (2,600 RB), Pakistan (2,300 RB), Thailand (700 RB), India (600 RB), Guatemala (500 RB), and Peru (400 RB).

Today evening, the rupee depreciated by 6 paise to close at Rs 76.36 against the dollar.Today the stock market closed with a fall.Today, where the Sensex closed at a level of 57595.68, down 89.14 points. On the other hand, Nifty closed at the level of 17222.80 points down by 22.90 points.   

Rupee depreciates against dollar, loses 5 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 5 paise at Rs 76.35 against the dollar. At the same time, on Thursday, the rupee closed at Rs 76.30 with a weakness of 13 paise against the dollar.

Sensex collapses as soon as it opens, registers a fall of 383 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by about 382.97 points and opened at the level of 57301.85 points. On the other hand, the Nifty of NSE opened at the level of 17134.00 points with a fall of 111.70 points.

Bangladesh: Cotton price rise impacts RMG exportsCotton prices in the global market hit a high of over a decade in the wake of the Russo-Ukraine war, unusual increase in freight and drought in the US, which will increase the production cost for readymade garment (RMG) manufacturers in Bangladesh. Which is affecting their profitability.Even before the Russian-Ukraine war, the price of major textile raw materials had risen to increased demand in the international market, following the reopening of economies following the pandemic-led lockdown.Due to drought in some cotton-growing regions in the US, rising petroleum prices in global markets and high-volume purchases of cotton by China raised the price of white fiber by up to 9.09 percent last month.As a result, the cost of production for textile manufacturers and exporters will further increase as Bangladesh is completely dependent on imported cotton to feed its main export income zone.Local producers can supply less than 2 per cent of the 9 million bales of cotton consumed annually in the country, forcing the country to spend nearly $3 billion on raw material imports for the growing garment industry. Some 480 pounds, or 218 kilograms, form a bale.Importers and mill owners say that if the war continues, the price of cotton will rise further. This will eventually increase the price of the yarn in local markets, increasing the cost of production for garment manufacturing."Sometimes, spinners have increased the price by $1 per kg in recent months. "Mustafizur Rahman, distinguished fellow at the Centre for Policy Dialogue, says the high price of cotton will affect the profits of textile exporters.International retailers and brands in the apparel business at large are not bearing the extra cost of production. He said that local exporters are bearing the burden of this.Cotton prices rose 51% year-on-year in February. Rahman said the price of white fibre has increased further and this means further pressure on the profits of garment exporters.The fresh cotton price hike is expected to impact exports of garment goods from Bangladesh at a time when the industry is recovering from the dire repercussions of COVID-19.

All India Weather Forecast for March 24, 2022Weather systems made across the countryThe depression remains over the coastal areas of Myanmar. It will continue to move in a north-easterly direction and may soon turn into a deep low pressure area.A trough is extending from North Chhattisgarh to Telangana.A fresh Western Disturbance will approach the Western Himalayas today, March 23.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain occurred over parts of Karnataka, Interior Tamil Nadu and Kerala.Light rain occurred in parts of Sub-Himalayan West Bengal, Sikkim, Assam and Andaman and Nicobar Islands.Heat wave conditions were observed in one or two parts of West Madhya Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain and thundershowers are very likely to occur over Kerala, Interior Tamil Nadu and parts of Karnataka.Light rain is possible over Andaman and Nicobar Islands, Sikkim, Assam and Arunachal Pradesh.Scattered light rain is possible over Andhra Pradesh.Light to moderate rain with snow may occur over Gilgit-Baltistan, Muzaffarabad and upper parts of Jammu and Kashmir.

Bangladesh: Cotton price rise impacts RMG exportsCotton prices in the global market hit a high of over a decade in the wake of the Russo-Ukraine war, unusual increase in freight and drought in the US, which will increase the production cost for readymade garment (RMG) manufacturers in Bangladesh. Which is affecting their profitability.Even before the Russian-Ukraine war, the price of major textile raw materials had risen to increased demand in the international market, following the reopening of economies following the pandemic-led lockdown.Due to drought in some cotton-growing regions in the US, rising petroleum prices in global markets and high-volume purchases of cotton by China raised the price of white fiber by up to 9.09 percent last month.As a result, the cost of production for textile manufacturers and exporters will further increase as Bangladesh is completely dependent on imported cotton to feed its main export income zone.Local producers can supply less than 2 per cent of the 9 million bales of cotton consumed annually in the country, forcing the country to spend nearly $3 billion on raw material imports for the growing garment industry. Some 480 pounds, or 218 kilograms, form a bale.Importers and mill owners say that if the war continues, the price of cotton will rise further. This will eventually increase the price of the yarn in local markets, increasing the cost of production for garment manufacturing."Sometimes, spinners have increased the price by $1 per kg in recent months. "Mustafizur Rahman, distinguished fellow at the Centre for Policy Dialogue, says the high price of cotton will affect the profits of textile exporters.International retailers and brands in the apparel business at large are not bearing the extra cost of production. He said that local exporters are bearing the burden of this.Cotton prices rose 51% year-on-year in February. Rahman said the price of white fibre has increased further and this means further pressure on the profits of garment exporters.The fresh cotton price hike is expected to impact exports of garment goods from Bangladesh at a time when the industry is recovering from the dire repercussions of COVID-19.

Difficult times ahead for the country's textile millsMill operators are facing huge losses due to limited availability of cotton and skyrocketing prices. This is the reason why Tamil Nadu Mills Association has decided to keep the mill completely closed for one day in a week. Based on the rising price of cotton and this decision taken by Tamil Nadu Mills, SIS sought to know what mills in other states are thinking about this.Let us know the opinion of the mill operators of different states on the present scenario-Situation may change in Madhya Pradesh after 1 monthRajendra Sharma, General Manager, Maral Overseas, said that all the mills of the country are in trouble due to the problem of increasing cotton rates and decreasing arrivals. But Madhya Pradesh is a cotton growing state, due to which there is not so much shortage of cotton right now that any decision like shutting down the mill should be taken immediately, but after a month such a situation may also arise. Tamil Nadu had to take this decision from now on because they have to bring cotton from other states, whose transportation cost is very high.Problem is also coming in RajasthanVikas Jain of Kanchan India Limited of Bhilwara Rajasthan says that the problem is also coming a lot in Rajasthan. But all the mills have as much stock as about 2 months, due to which there is no such possibility as of now. In the south, this step had to be taken early because the mills there work more on fine quality, whose arrival has already reduced. In Rajasthan, work is done on medium quality, whose stock for few months is present with the mills.Decision can be taken soon in Gujarat tooHiteshbhai of Ramkrishna Cotspin Gujarat said that the cotton prices have reached 85 thousand, the situation is that the mills are incurring a loss of 25 to 30 rupees per kg. The Gujarat Spinning Association has called a meeting of spinners on the coming Sunday. There is a possibility that like Tamil Nadu, a tough decision like keeping the mills closed for one day in Gujarat will be taken.The situation in Maharashtra is also dire.Mukesh Sharma, Assistant Manager, NSL Cotton Corporation, Aurangabad said that seeing the rapid rate at which the rates are touching the sky on MCX, it seems that the coming time is going to be very difficult for the mills. Now if the government reduces the import duty, then only there can be some hope. Even if the rate of yarn increases in comparison to the rate of cotton, there may be some support, but at present the situation is very dire.

Today evening the rupee depreciated by 13 paise to close at Rs 76.30 against the dollar.Today the stock market closed with a fall.Today, where the Sensex fell by about 304.48 points, closed at the level of 57684.82 points. On the other hand, Nifty closed at the level of 17245.70 points down by 69.80 points.