Brazil's cotton production reaches record levelCotton production in Brazil reached record levels in the 2022/23 season, driven by increases in both acreage and productivity. Global supply also increased. However, demand did not increase as availability increased, as adverse economic conditions drove players away from the business, limiting sales of manufactured goods. More supply than demand led to stockpiles, leading to a decline in domestic and international cotton prices.In Brazil, prices fell significantly from January to May, despite the offseason period, due to expectations of a good harvest and weak demand. Due to the higher surplus, exports should record a good performance in 2022/23, but trades were moving at a slower pace than anticipated in early 2023, as prices were not considered attractive by sellers.Between May and June, the monthly average was stable, but in July prices were at their lowest level of the year. In the following months, exports led to less fluctuations in the monthly average, which helped reduce the domestic surplus. 2023 also saw logistics issues and high transportation costs, as well as inconsistencies in product quality, limiting trade.In 2023, the CEPEA/ESALQ index for cotton fell 24.4%, closing at BRL 4.0230/pound on December 26. Between December 29, 2022 and December 26, 2023, export parity went down by 19.4%, impacted by a decrease of 11.5%. 8.6% devaluation of dollar quotes against the Coinlook A index and the real.2022/23 crop in Brazil - According to Conab, the 2022/23 area increased by 4% compared to the previous one, totaling 1.664 million hectares. Productivity was estimated at 1,907 kg per hectare, 19.5% higher than the previous season and a record. Cotton production in 2022/23 was projected to be 3.173 million tonnes, an increase of 24.2% over the previous year and the highest in history.USDA – Global production for 2022/23 increased by 1.8% compared to 2021/22, totaling 25.395 million tonnes and sustained by higher supplies in China, India and Brazil. The United States and Pakistan recorded significant declines during the same period.
This evening, the rupee strengthened by 5 paise and closed at Rs 83.23 against the dollar.Today the Sensex closed at the level of 71847.57 points with a gain of about 490.97 points. Whereas Nifty closed at the level of 21658.60 points with a gain of 141.30 points.
Rupee opened with weakness against dollar todayThe rupee opened with weakness against the dollar today. Today the rupee opened with a weakness of 3 paise at Rs 83.31 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 83.29 against the dollar with a weakness of 4 paise.Huge rise in Nifty and Sensex today Today BSE Sensex opened at 71678.93 points with a gain of about 322.33 points. Whereas NSE's Nifty opened at the level of 21600.30 points with a gain of 83.00 points. Today trading started in a total of 2,105 companies in BSE.
Tamil Nadu: Erode textile market sees increase in sales ahead of PongalWith Pongal soon to be celebrated on January 15 and 16, retail and wholesale sales have improved in the city's textile markets as traders from other districts and states have come for shopping.E.K.M. More than 3,100 shops selling textile materials operate in the state. Abdul Ghani Textile Market (Ghani Market) near Panneerselvam Park, Ashokapuram and Central Theater in the city. Similarly, weekly shops run from Monday afternoon to Tuesday night in Ghani Market, where people and traders buy materials in retail and bulk quantities.Erode Gani Market Weekly All Textile Merchants Association President K. Selvaraj told The Hindu that the demand for synthetic dress material for Pongal, especially for children, was high and the sales volume was good. “The volume of both retail and wholesale sales is around 40%,” he said, adding that traders from Vellore, Tiruvannamalai and Kallakurichi had come in large numbers and purchased material. Besides, traders from Andhra Pradesh have also made bulk purchases. “Sales will continue to improve till Pongal,” he said.
This evening, the rupee strengthened by 4 paise and closed at Rs 83.28 against the dollar.Today the Sensex fell by about 535.88 points and closed at the level of 71356.60 points. Whereas Nifty closed at the level of 21517.30 points with a fall of 148.50 points.
Rupee opened stronger against dollar today The rupee opened strongly against the dollar today. Today the rupee opened with a gain of 3 paise at Rs 83.29 against the dollar. At the same time, on Tuesday, the rupee closed at Rs 83.32 against the dollar with a weakness of 8 paise.Share market started with decline todayToday BSE Sensex opened with a fall of 204.44 points at the level of 71688.04 points. Whereas NSE's Nifty opened with a fall of 53.30 points at the level of 21612.50 points. A total of 2,360 companies started trading on BSE today.
This evening, the rupee closed at Rs 83.32 against the dollar with a weakness of 8 paise.Today Sensex closed at 71892.48 points with a fall of 379.46 points. Whereas Nifty closed at the level of 21665.80 points with a fall of 76.10 points.
Revamp of cotton farming to help boost production in IndiaIn a move aimed at arresting the declining cotton production in India, the Union government plans to promote the shift of cotton cultivation from disease-infested fields to disease-free cultivatable and irrigated areas within Haryana, Rajasthan, Punjab, Maharashtra, and Telangana.Shifting of cultivation means farmers in identified disease-free districts will be encouraged to change from conventional crops to cotton and those in infected areas would be motivated to shift to other crops.The plan could double cotton production to 30 quintal per acre. This comes in the backdrop of cotton area, production and productivity registering a declining cotton production trend of 31.6 million bales in 2023-24 from 33.6 million bales in 2022-23.In recent years, there has been a sharp decline in ‘white gold’ production, as per textile ministry data. Annual production in 2017-18 was 37 million bales (170 kg each) that fell to 33.3 million bales next year. After growth in 2019-20 (36.5 million bales), it slipped to 35.2 million bales in 2020-21 and 31.1 million in 2021-22.
Rupee came close to all time low against dollar, fell further by 8 paise even today The rupee opened with weakness against the dollar today. Today the rupee opened with a weakness of 8 paise at Rs 83.32 against the dollar. At the same time, on Monday, the rupee closed at Rs 83.24 against the dollar with a weakness of 3 paise.Nifty and Sensex started with a decline Today BSE Sensex opened with a fall of 157.56 points at the level of 72114.38 points. Whereas NSE's Nifty opened with a fall of 28.90 points at the level of 21713.00 points. Today, trading started in a total of 2,759 companies on BSE.
This evening, the rupee closed at Rs 83.24 against the dollar with a weakness of 3 paise.On the first day of the new year, the stock market again made an all-time high.On the very first day of the new year, Sensex and Nifty again made the record of all-time high. However, later the indices could not hold there and closed with a slight rise. Today Sensex made a new all-time high of 72,561.91 points during the day. Nifty made a new all-time high of 21,834.35 points.
Rupee jumps against dollar, strengthens by 5 paiseThe rupee opened 5 paise stronger at Rs 83.16 against the dollar. On Friday, the rupee closed at Rs 83.21 against the dollar with a weakness of 4 paise.Nifty and Sensex started with decline on the first day of the yearToday BSE Sensex opened with a fall of 147.58 points at the level of 72092.68 points. Whereas NSE's Nifty opened with a fall of 30.70 points at the level of 21700.70 points. A total of 3,891 companies started trading in BSE today.
Possibility of unseasonal rain in Madhya Pradesh and ChhattisgarhUnseasonal rains are expected in many parts of these states between January 1 and 3, which will bring a welcome change and increase soil moisture.This meteorological change can be attributed to the confluence of two wind systems. The lower level easterly winds will meet their north-western counterparts, creating favorable conditions for rainfall. Additionally, a cyclonic circulation forming over northwest India will interact with humid winds coming from the Bay of Bengal, further increasing the chances of rain.The good news is that rainfall is expected to be light and widespread, reducing the risk of flooding or disruption. However, this will result in a significant increase in soil moisture, which may prove beneficial for upcoming agricultural cycles.While the minimum temperature may increase due to increase in clouds and greenhouse effect, the maximum temperature is expected to drop slightly. It provides a pleasant respite from the usual winter cold, providing both warmth and moisture to the area.By January 5 the rains will end, leaving behind a fresh landscape and new hopes for bountiful weather. So, Madhya Pradesh and Chhattisgarh, gear up for a unique January surprise as the rain dances in, bringing a touch of unexpected magic to your winter days.
This evening, the rupee closed at Rs 83.21 against the dollar with a weakness of 4 paise.Today the Sensex closed at the level of 72240.26 points with a fall of about 170.12 points. Whereas Nifty closed at the level of 21731.40 points with a fall of 47.30 points. Apart from this, a total of 3,891 companies were traded in BSE today, out of which about 2,029 shares closed with gains and 1,739 shares closed with decline. There was no difference in the share prices of 123 companies. Today 337 stocks have closed at their highest level in 52 weeks.
This evening, the rupee strengthened by 18 paise and closed at Rs 83.16 against the dollar.Today the Sensex closed at 72410.38 points with a gain of about 371.95 points. Whereas Nifty closed at the level of 21778.70 points with a gain of 123.90 points. These closing levels of Nifty and Sensex are all time high.
Merchant ship attacks spike textile export freight costsRed sea is one of the busiest trade routes that connects Europe and Asia, but the recent attacks have forced merchants ships to take the circuitous route around Africa adding an extra 6,000 nautical milesThe deteriorating situation in the past week following Hamas-supporting Houthi rebels attacks on merchant ships in the Arabian Sea has raised freight rates by 40% with the possibility of this going up, say India’s textiles traders.Red sea is one of the busiest trade routes that connects Europe and Asia, but the recent attacks have forced merchants ships to take the circuitous route around Africa adding an extra 6,000 nautical miles and an additional 15 days to the transit time leading to steep increase in freight rates and insurance premiums, said Badresh Dodhia, chairman of the Synthetic and Rayon Textiles Export Promotion Council.Most of India’s of textile and clothing shipments pass through the Suez Canal, and while freight rates had stabilised in recent months after witnessing spikes during the COVID-19 years, fears are rising in several sectors of a similar situation now.Mr. Dodhia urged the Government to support the textile and clothing exporters with higher duty drawback on schemes like the Rebate of State and Central Taxes and Levies and Remission of Duties or Taxes on Export Products to better manage the current situation.
MSMEs in Coimbatore, Tiruppur form human chain demanding reduction in power chargesThousands of people from the Micro, Small and Medium-scale Enterprises (MSMEs) sector formed a human chain in Coimbatore city on Wednesday demanding revision of fixed power charges.The Tamil Nadu Industrial Electricity Consumers Association had called for a State-wide protest on Wednesday demanding downward revision of fixed power charges, withdrawal of peak hour charges and withdrawal of networking charges for rooftop solar energy generation.J. James, co-ordinator for the association, said fixed charges have increased from ₹3,500 a month to ₹17,000. “The government’s stand to not reduce the charges will result in a washout of the MSMEs in the State. The MSMEs staged human chain protest in 25 districts in the State on Wednesday. In Coimbatore, not just the unit owners, but their family members and workers also took part. AIADMK MLAs Amman Arjunan and K. R. Jayaram, former MLA M. Arumugam (CPI) and several other political leaders participated in Coimbatore,” he said.Members of as many as 23 industrial associations took part in the protest in Coimbatore. They held placards and shouted slogans demanding reduction in power charges.In Tiruppur, members of as many as 38 industry organisations formed human chains at vantage locations. The participants displayed placards highlighting the debilitating impact of the peak hour charges on the productivity and output in the textile domain.
Cotton procurement by CCI in the state acceleratedAmid a surge in cotton arrivals and low prices in the spot markets of Madhya Pradesh, there has been a pick-up in cotton procurement by the Cotton Corporation of India (CCI), a nodal agency set up under the Textiles Ministry for trading and procurement of cotton. pick up speed.CCI has procured about 55,000 bales (1 bale is 170 kg) of raw cotton till December 25 at the minimum support price (MSP) set by the government.The MSP for medium staple cotton is Rs 6,620 per quintal while for long staple cotton it is Rs 7,020 per quintal.“We have procured 55,000 bales of cotton so far in the state,” said a CCI official on condition of anonymity. Cotton arrivals have increased in spot markets and we will continue purchasing as long as prices remain low or around MSP. We are purchasing produce from farmers as per standard quality parameters and farmers should not panic after seeing low prices.Cotton traders said that the daily arrival of cotton in the spot markets of Madhya Pradesh is estimated to be 40,000 quintals, of which more than 60 percent is procured by CCI. The nodal agency is purchasing raw cotton from farmers after checking the moisture content and other quality parameters of the produce.CCI has established 21 procurement centers in Madhya Pradesh. Most of these centers were established in Nimar and Malwa region like Khargone, Khandwa, Kukshi, Dhamnod and other trading centres. CCI gives the purchased produce to contracted ginning units for processing in every state.Kailash Aggarwal, a cotton farmer and owner of ginning units in Khargone, said, “Due to the fall in prices, farmers have increased the supply of cotton in the spot market, but most of the supply is going to CCI and only limited quantity is going to the market for traders. She is coming." , Quality produce is purchased by CCI.The Cotton Association of India (CAI) in its crop estimate for November has estimated cotton production in Madhya Pradesh to decline to 18 lakh bales from 19.5 lakh bales in the previous season.
This evening, the rupee closed at Rs 83.34 with a weakness of 15 paise against the dollar.Today Sensex closed at 72038.43 points with a rise of 701.63 points. Whereas Nifty closed at the level of 21654.80 points with a gain of 213.50 points. Apart from this, a total of 3,914 companies were traded in BSE today, out of which about 1,992 shares closed with gains and 1,812 shares closed with decline. There was no difference in the share prices of 110 companies. Today, 361 stocks have closed at their 52-week high.
China's 2023 cotton production is 5.618 million tonsChina's cotton production this year stood at 5.618 million tonnes, official data showed on Monday, down from 2022 partly due to adverse weather conditions in the key producing region.According to the National Bureau of Statistics (NBS), annual production was down 6.1 percent from the previous year, while the total cotton area area was down 7.1 percent to 2.7881 million hectares. Meanwhile, the national average production per hectare increased by 1.1 percent.NBS official Wang Guirong said Xinjiang, the country's largest cotton-producing region, experienced unsatisfactory weather conditions such as low temperatures and excess rainfall in the spring and long-lasting heat in the summer, with low yields in areas with low yields. I. Slight decline in per hectare production.Crops per hectare in the Yangtze River basin increased due to a low foundation due to persistent high temperatures and drought last year, while production per hectare also increased in planting areas along the Yellow River due to better management, Wang said.
This evening, the rupee closed at Rs 83.19 against the dollar with a weakness of 5 paise.Today Sensex closed at 71336.80 points with a rise of 229.84 points. Whereas Nifty closed at the level of 21441.30 points with a gain of 91.90 points.
| title | Created At | Action |
|---|---|---|
| Brazil's cotton production reaches record level | 05-01-2024 00:59:36 | view |
| This evening, the rupee strengthened by 5 paise and closed at Rs 83.23 against the dollar. | 04-01-2024 23:29:40 | view |
| Rupee opened with weakness against dollar today | 04-01-2024 17:15:18 | view |
| Tamil Nadu: Erode textile market sees increase in sales ahead of Pongal | 04-01-2024 01:30:52 | view |
| This evening, the rupee strengthened by 4 paise and closed at Rs 83.28 against the dollar. | 03-01-2024 23:34:24 | view |
| Rupee opened stronger against dollar today | 03-01-2024 17:19:58 | view |
| This evening, the rupee closed at Rs 83.32 against the dollar with a weakness of 8 paise. | 02-01-2024 23:40:02 | view |
| Revamp of cotton farming to help boost production in India | 02-01-2024 18:01:44 | view |
| Rupee came close to all time low against dollar, fell further by 8 paise even today | 02-01-2024 17:22:39 | view |
| This evening, the rupee closed at Rs 83.24 against the dollar with a weakness of 3 paise. | 02-01-2024 00:25:26 | view |
| Rupee jumps against dollar, strengthens by 5 paise | 01-01-2024 17:18:42 | view |
| Possibility of unseasonal rain in Madhya Pradesh and Chhattisgarh | 30-12-2023 20:04:47 | view |
| This evening, the rupee closed at Rs 83.21 against the dollar with a weakness of 4 paise. | 29-12-2023 23:34:30 | view |
| This evening, the rupee strengthened by 18 paise and closed at Rs 83.16 against the dollar. | 28-12-2023 23:37:47 | view |
| Merchant ship attacks spike textile export freight costs | 28-12-2023 22:02:12 | view |
| MSMEs in Coimbatore, Tiruppur form human chain demanding reduction in power charges | 28-12-2023 20:16:36 | view |
| Cotton procurement by CCI in the state accelerated | 28-12-2023 18:23:39 | view |
| This evening, the rupee closed at Rs 83.34 with a weakness of 15 paise against the dollar. | 27-12-2023 23:31:55 | view |
| China's 2023 cotton production is 5.618 million tons | 27-12-2023 19:17:06 | view |
| This evening, the rupee closed at Rs 83.19 against the dollar with a weakness of 5 paise. | 26-12-2023 23:30:52 | view |
