The rupee ended the day 9 paise worse against the dollar, closing at Rs 84.37After two days of strength in the stock market, selling was seen once again on Thursday. During this period, the Sensex fell 836.34 points to close at 79,541.79. On the other hand, the Nifty fell 284.70 points to reach 24,199.35.Read More :- Cotton Yarn Prices Drop by Rs 10/kg, Boosting Confidence in Rs 40,000 Crore Export Target
In early trading, the rupee climbs 5 paise to 84.26 against the US dollar.Sensex drops 800 pts to 79,600; Nifty down at 24,250; Metal, Bank drag At around 10 AM, the BSE Sensex was 844 points, or 1.05 per cent lower, at 79,533, and the Nifty 50 was at 24,221, down 262 points, or 1.07 per cent.Read More :> Demand for ban on cotton import, farmers fear loss due to decrease in production
The rupee ended the day 18 paise down against the dollar, closing at 84.28The BSE Sensex rose 901.50 points or 1.13 percent to close at 80,378.1 points. The NSE Nifty also rose 270.75 points or 1.12 percent to close at 24,484.05 points.Read More :- Demand for ban on cotton import, farmers fear loss due to decrease in production
Early trading sees the rupee drop 14 paise to its lowest point ever, 84.23 against the US dollar.Sensex reclaims 80,000, Nifty 50 above 24,400 led by IT, banks, auto stocksSensex today extended rally with gains of over 600 points and reclaimed the 80,000-mark, amid positive global market cues. Nifty 50 also traded above 24,400 level led by gains across the board. Midcap and Smallcap indices rallied over 1% each.Read More :>Cotton Yarn Prices Drop by Rs 10/kg, Boosting Confidence in Rs 40,000 Crore Export Target
The rupee strengthened by 1 paisa to close at 84.10 against the dollar this evening.The 30-share BSE benchmark Sensex closed 694 points, or 0.88%, higher at 79,476. The broader NSE Nifty rose 218 points, or 0.91%, to close at 24,213. During the day, both the Nifty and Sensex fell up to 0.6%.Read more:- Demand for ban on cotton import, farmers fear loss due to decrease in production
The Rs 40,000 Crore Export Target Gains Confidence as Cotton Yarn Prices Drop by Rs 10/kgThe price of cotton yarn used in knitwear production decreased by Rs 10 per kilogram on Monday, bringing optimism among exporters as New Year and Christmas orders start pouring in. Exporters see this price reduction as a boost for both domestic production and exports, aligning with their goal of achieving the Rs 40,000 crore export target.On Monday, spinning mills announced a price cut of Rs 10 per kg for all counts of cotton yarn used in knitwear. For instance, 20s kh (18.5 count) yarn dropped from Rs 220 to Rs 210 per kg, while 40s kh (38.5 count) decreased from Rs 248 to Rs 238. This price adjustment has been well-received by knitwear manufacturers in Tiruppur.KM Subramanian, president of the Tiruppur Exporters Association, stated, “The reduction in cotton yarn prices will aid growth in domestic production and exports, especially as cotton prices have settled at Rs 56,000 per candy. This price drop will support our efforts to achieve the Rs 40,000 crore export target for this year.”MP Muthurathinam, president of the Tiruppur Exporters and Manufacturers Association, highlighted that orders for New Year and Christmas are already coming in, with inquiries from Bangladesh as well. "Bangladesh had been hesitant due to our higher prices, but with this reduction, we can now capture more of these orders," he explained.Reflecting on recent market trends, he added, “Domestic orders before Deepavali were promising, but sales did not meet expectations afterward. We now hope that Christmas and New Year export orders will improve the situation, and this yarn price reduction will be a key factor. Yarn prices have held steady this year without any hikes.”Industry sources revealed that yarn prices have seen three reductions this year: a Rs 20/kg drop in January, another Rs 20/kg decrease in June, and now this recent Rs 10/kg cut in October.Read More :- Demand for ban on cotton import, farmers fear loss due to decrease in production
In relation to the US dollar, the rupee hits its lowest point ever, 84.13. The rupee on Monday fell 4 paise to a record low of 84.11 against the US dollar, tracking a weak trend in domestic equities and relentless foreign capital outflows.Read More :> Demand for ban on cotton import, farmers fear loss due to decrease in production
In relation to the US dollar, the rupee dropped 4 paise to its lowest point ever, 84.11At the close of trading, the BSE Sensex fell 941.88 points or 1.18 per cent to close at 78,782.24. The NSE's 50-share index, Nifty, fell 309 points or 1.27 per cent to close at 23,995.35.Read More :- Demand for ban on cotton import, farmers fear loss due to decrease in production
Importing cotton should be prohibited, as farmers fear financial loss from lower output.Farmers are worried about the falling prices of cotton, and now the demand for banning cotton import is gaining momentum. In major cotton producing states like Maharashtra, Andhra Pradesh and Telangana, the yield is getting affected due to high moisture in the crop.Demand to buy crop at MSPMany farmers are getting prices lower than the Minimum Support Price (MSP) for cotton crop, which is weakening their financial condition. Farmers want the government to buy their crop at MSP, which is Rs 7,122 per quintal.Fall in pricesMaharashtra, where about 40 lakh farmers cultivate cotton, ranks second in cotton production in the country. However, cotton prices are expected to fall domestically. Even despite adequate production, there is talk of large-scale cotton imports, which may lead to further decline in prices.Politics over cotton has heated up in Maharashtra due to the upcoming Rajya Sabha elections. Some leaders say that the Cotton Corporation of India has a large stock of cotton, due to which the demand for buying cotton at MSP is increasing. The current price of cotton in the state is between Rs 6,500-6,600 per quintal, which is less than the MSP of Rs 7,122. Therefore, farmers are hesitant to sell their crop and are waiting for a better price.Demand for ban on importPoliticians say that there is already a large stock of cotton in the country, so imports should be banned immediately. If imports continue, cotton prices may fall further, causing huge losses to farmers and profits to traders.Damage to crop due to weatherThe cotton crop has suffered a lot due to unseasonal rains, due to which farmers are upset. According to reports, this year about 19 lakh hectares of cotton crop has been affected by adverse weather. Due to high moisture, the crop is still wet in many areas, which is affecting its price in the market.Read More :> High Moisture Content Sparks Concerns for Cotton Farmers in Indian States
The rupee closed unchanged at 84.08 against the dollar this evening.At the close of trading, the BSE Sensex fell 426.85 points or 0.53 per cent to close at 79,942.18. The NSE's 50-share index, Nifty, fell 126 points or 0.51 per cent to close at 24,340.85.Read more:- High Moisture Content Sparks Concerns for Cotton Farmers in Indian States
The rupee drops 2 paise to 84.07 against the dollar.The rupee opened on a flat note and depreciated 2 paise to 84.07 against the US dollar in initial deals on Wednesday, weighed down by persistent foreign fund outflows and muted domestic equities.Read More :> High Moisture Content Sparks Concerns for Cotton Farmers in Indian States
This evening, the rupee finished at 84.08 against the US dollar, unchangedThe BSE Sensex rose 363.99 points or 0.45 per cent to close at 80,369.03. Similarly, the NSE Nifty 50 rose 127.70 points or 0.52 per cent to close at 24,466.85.Read More :- High Moisture Content Sparks Concerns for Cotton Farmers in Indian States
High Moisture in Cotton Hits Farmers Across States, Prices Fall Below MSPCotton farmers in Telangana and Maharashtra are facing distress as high moisture content in their produce has led to lower market prices, often falling below the Minimum Support Price (MSP). The Cotton Corporation of India (CCI), which handles MSP procurement, says moisture levels are the main reason for rejection or price cuts.Farmers in Telangana report that cotton prices in several mandis have dropped significantly. “They are lowering prices, saying the moisture content is above the acceptable limit,” said a farmer from Warangal (name changed).Heavy rainfall and recent flooding have left harvested cotton wet in several regions, increasing moisture levels. According to CCI Chairman and MD Lalit Kumar Gupta, acceptable moisture levels are between 8–12%, but samples in some areas have shown levels as high as 20–25%. He advised farmers to properly dry cotton before bringing it to procurement centres.Due to recent festivals, arrivals at mandis have also been delayed. Around 90,000 bales arrived on Monday, taking total procurement to about 1.2 million bales this season.Cotton Association of India President Atul Ganatra has urged the government to allow procurement of cotton with moisture levels up to 18%, stating that continuous rains have worsened the situation. He added that farmers are being forced to sell cotton at ₹3,000–₹6,000 per quintal, well below MSP.While arrivals are lower by around 400,000 bales compared to last year, the CCI remains optimistic that better weather will improve the situation. “Sunny days will help reduce moisture levels,” Gupta said.Political criticism has also emerged. The BRS has accused the Telangana government of failing to support farmers, despite promises of a ₹500 per quintal bonus. However, the state agriculture minister has advised farmers to dry their produce before selling.The government has fixed MSP at ₹7,121 per quintal for medium-staple cotton and ₹7,521 for long-staple cotton, but actual prices vary depending on moisture content. Officials say nearly half of incoming cotton lots in some areas have failed moisture tests.CCI has issued advisories across cotton-growing states, while many farmers are now choosing to delay sales in hopes of better prices in the coming days.
Rupee Opens Flat at 84.08 vs US DollarMumbai, Oct 29 (PTI) The rupee opened on a flat note and depreciated 1 paisa to 84.08 against the US dollar in initial deals on Tuesday, as persistent foreign fund outflows and the strength of the American currency in the overseas market dented investor sentiments.Read More :> Cotton Crops in Medak, Telangana, Are Devastated by Heavy Rains
This evening, the rupee closed unchanged at 84.08 against the dollar.At the end of the trading session, the Sensex rose 602.75 points or 0.76 percent to close at 80,005.04 and the Nifty rose 158.40 points or 0.66 percent to close at 24,339.20.Read more:- Farmers' Diwali was dull, heavy rain caused loss of 15 lakhs to cotton crop
Early trading of the rupee against the US currency is limited.The rupee witnessed range-bound trade and appreciated by just 1 paisa to 84.07 against the US dollar in initial deals on Monday, weighed down by significant foreign fund outflows and the strength of the American currency in the overseas market.Read More :> India’s Cotton Output Likely to Drop 7.4% Due to Excessive Rainfall
| title | Created At | Action |
|---|---|---|
| This evening, the rupee closed 9 paise lower at Rs 84.37 against the dollar | 07-11-2024 23:21:11 | view |
| Rupee rises 5 paise to 84.26 against US dollar in early trade | 07-11-2024 17:19:32 | view |
| This evening, the rupee closed 18 paise lower at 84.28 against the dollar | 06-11-2024 23:21:48 | view |
| Rupee falls 14 paise to all-time low of 84.23 against US dollar in early trade | 06-11-2024 17:24:27 | view |
| The rupee appreciated 1 paisa vs the dollar this evening, closing at Rs 84.10. | 05-11-2024 23:28:48 | view |
| Cotton Yarn Prices Drop by Rs 10/kg, Boosting Confidence in Rs 40,000 Crore Export Target | 05-11-2024 18:39:04 | view |
| Rupee falls to all-time low of 84.13 against US Dollar | 05-11-2024 17:17:07 | view |
| Rupee fell 4 paise to an all-time low of 84.11 against the US dollar | 04-11-2024 23:43:13 | view |
| Demand for ban on cotton import, farmers fear loss due to decrease in production | 04-11-2024 20:12:03 | view |
| This evening, the rupee finished at 84.08 against the US dollar, unchanged. | 30-10-2024 23:36:44 | view |
| Rupee falls by 2 paise to 84.07 vs dollar | 30-10-2024 17:27:24 | view |
| The rupee closed unchanged at 84.08 against the dollar this evening. | 29-10-2024 23:42:25 | view |
| High Moisture Content Sparks Concerns for Cotton Farmers in Indian States | 29-10-2024 18:13:37 | view |
| Rupee vs. US Dollar Opens Flat at 84.08 | 29-10-2024 17:22:58 | view |
| This evening, the rupee ended steady at 84.08 against the dollar. | 28-10-2024 23:34:51 | view |
| Rupee trades in narrow ranges against US dollar in early trade | 28-10-2024 17:24:05 | view |
