15% More Rainfall in August's First Half; Monsoon at 105% of Long-Term AverageLa Niña Likely to Develop by Month-End, Says IMDIndia experienced 153 mm of rainfall in the first half of August (August 1-15), which is 15% above the normal 133.3 mm for this period. This increase has pushed the overall seasonal rainfall to 105% of the long period average (LPA) for the monsoon season spanning June 1 to August 15.Earlier in the season, June recorded an 11% rainfall deficit, while July saw a 9% surplus. Between June 1 and August 15, the country received a total of 606.8 mm of rain, which is 4.8% above the LPA of 579.1 mm.The India Meteorological Department (IMD) had previously forecasted that August rainfall across most parts of the country would be "normal" (94 to 106% of LPA). However, below-normal rainfall was predicted for several regions, including southern parts of central India, the northern peninsular region, parts of northeast India, and some areas in northwest and south peninsular India.Regional Rainfall PatternsThe latest data reveals that the east and northeast regions, including West Bengal, Bihar, Jharkhand, and the northeastern states, received 198.6 mm of rainfall during the first half of August, which is 21.4% above the LPA of 163.6 mm.In the northwest region, which includes Punjab, Haryana, Rajasthan, Uttar Pradesh, Uttarakhand, Himachal Pradesh, and Jammu & Kashmir, rainfall totaled 154.6 mm—44.8% above the normal 106.8 mm for the same period.Central India, encompassing Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, Odisha, and Goa, reported 160.9 mm of rainfall, just 1.5% below the LPA of 163.4 mm. Meanwhile, the southern peninsula, including Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana, received 99.7 mm of rainfall, which is 0.9% above the normal 98.8 mm.*Reduction in Deficient Rainfall Areas*The number of meteorological subdivisions with deficient rainfall has decreased from 9 to 6 over the past 15 days. As of August 15, these 6 subdivisions, representing 17% of India’s geographical area, have reported deficient rainfall. In comparison, 9 subdivisions, covering 25% of the area, were deficient as of July 31. Regions like Bihar, Punjab, Himachal Pradesh, Jammu & Kashmir, and parts of the northeastern states have experienced deficient rainfall so far.*Active Monsoon Conditions and Weather Events*The IMD reported active monsoon conditions across most parts of northwest and central India during the week ending August 15. Notable weather events included exceptionally heavy rainfall in Karauli (38 cm) in east Rajasthan on August 11, extremely heavy rainfall in east Rajasthan on August 11-12, and very heavy rainfall in Himachal Pradesh from August 9-11, Punjab on August 11 and 14, and Haryana from August 9-12.This weather activity was largely due to a persistent cyclonic circulation over northeast Rajasthan, coupled with moisture-laden southerly and south-westerly winds from the Arabian Sea moving into northwest India.*ENSO-Neutral Conditions and La Niña Outlook*The IMD noted that neutral El Niño-Southern Oscillation (ENSO) conditions currently prevail in the equatorial Pacific region, with La Niña expected to develop towards the end of August, according to forecasts from the Monsoon Mission Climate Forecasting System (MMCFS).The Madden-Julian Oscillation (MJO), another global weather pattern influencing monsoon rainfall, is currently in phase 1 with an amplitude greater than 1. The MJO is expected to enhance convection starting around August 20-21 over the equatorial Indian Ocean and adjoining Arabian Sea and Bay of Bengal.*Agricultural Advisory*Farmers in Uttar Pradesh, Rajasthan, Madhya Pradesh, Chhattisgarh, West Bengal, Odisha, Jharkhand, Bihar, Punjab, Haryana, Tamil Nadu, Kerala, Karnataka, and the Rayalaseema region have been advised to drain excess water from their field crops and horticultural crops.Overall, the IMD forecasts that rainfall is likely to be above normal over the plains of northwest and central India and near normal over the western Himalayan region until August 22.read more :- India Lost 33.9 Million Hectares of Crops Due to Excess Rains, WEF Report Reveals
According to a WEF report, India lost 33.9 million hectares of crops as a result of excessive rainsExtreme climate events have significantly impacted India’s agriculture sector, according to a new report by the World Economic Forum (WEF). The report highlights that between 2015 and 2021, India experienced crop losses amounting to 33.9 million hectares due to excessive rainfall and an additional 35 million hectares due to drought conditions.Agriculture, which constitutes 15% of India's GDP and employs approximately 40% of the population, faces severe risks from these extreme climate events. The WEF report, titled “Income Protection and Early Warning Systems: How India is Building Climate Resilience,” outlines the pressing challenges posed by climate change, including heat waves, floods, and earthquakes.Economic Impact and Insurance GapThe report reveals that in 2021 alone, Indian sectors, including agriculture, suffered economic losses totaling $159 billion due to lost working hours from extreme climate impacts. It projects that by 2030, India could see a 5.8% decline in working hours, equating to 34 million full-time jobs, due to heat stress.Despite these challenges, there is a significant insurance coverage gap that hinders many from protecting their livelihoods against extreme weather events and climate change, the WEF notes.Government Initiatives and InnovationsSandeep Katiyar, Co-Founder & CFO of Finhaat, emphasizes the urgent need to enhance resilience among farmers. He notes that small and marginal farmers, who hold less than one hectare of land, make up 86% of those engaged in agriculture.The Indian government is making strides in this area with policy interventions such as the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather-based Crop Insurance Scheme (RWBCIS), which provide insurance for both crops and weather-related risks.Focus on Vulnerable PopulationsThe WEF report points out that extreme weather disproportionately affects low-income Indians, exacerbating the insurance coverage gap. However, innovative weather-based insurance products tailored to specific geographies and sectors are being developed to address these challenges.The report highlights the potential of the Sandbox for Agricultural and Rural Security, Technology, and Insurance (SARATHI) initiative to enhance farmer resilience against climate volatility. Additionally, the introduction of the Women’s Climate Shock Insurance and Livelihoods initiative (WCS) aims to provide income replacement for female outdoor workers during extreme heat waves.Global Replication and Future ChallengesThe WEF suggests that successful initiatives in India could serve as models for vulnerable communities globally. It also warns that if climate-induced migration reaches 45 million people by 2050, it could lead to significant economic repercussions, including reduced tax revenues.Katiyar underscores the importance of comprehensive risk management, including warehousing and targeted insurance products, to mitigate risks and strengthen the agricultural sector’s resilience.READ MORE :- Cotton prices Surge as Acreage Declines in Punjab, Haryana, and Rajasthan
This evening, the rupee appreciated by 2 paise to settle at 83.95 against the US dollar.At the close of trading, the BSE Sensex rose 149.85 points or 0.10 per cent to close at 79,105.88. The NSE's 50-share index, Nifty, rose marginally by 4.75 points or 0.02 per cent to close at 24,143.75.read more :- Cotton prices Surge as Acreage Declines in Punjab, Haryana, and Rajasthan
Prices for cotton rise in Punjab, Haryana, and Rajasthan as acreage declines.Cotton prices have increased by 1.07%, reaching ₹56,900 per candy, driven by significant reductions in cotton acreage across major Indian states. Punjab, Haryana, and Rajasthan have seen their cotton cultivation fall to 10.23 lakh hectares from 16 lakh hectares last year. Specifically, Punjab's cotton area has plummeted to 97,000 hectares, a sharp decline from 7.58 lakh hectares in the 1980s and 1990s. Rajasthan and Haryana also reported reductions, with their cotton acreage now at 4.75 lakh hectares and 4.50 lakh hectares, respectively.The decrease in acreage is coupled with delays in shipments from major global cotton producers like the US and Brazil, heightening demand for Indian cotton, particularly from mills in neighboring countries.The rise in cotton prices is further supported by firm cottonseed prices. Sowing for the Kharif 2024 season has commenced in southern states such as Karnataka, Telangana, and Andhra Pradesh, following recent monsoon rains. According to the USDA’s 2024/25 cotton projections, higher beginning and ending stocks are anticipated compared to previous estimates.Despite stable domestic production, consumption, and export forecasts, the season average upland farm price has been revised down by 4 cents to 70 cents per pound due to lower new-crop cotton futures. In the US, ending stocks are expected to rise by 400,000 bales to 4.1 million bales. Globally, the 2024/25 cotton balance sheet indicates increases in beginning stocks, production, and consumption, with world-ending stocks projected to reach 83.5 million bales, up by 480,000 bales from May.read more :- White fly and pink bollworm infest cotton crop
This evening, the rupee ended the day at 83.97 against the US dollar, unchangedThe BSE Sensex fell 692.89 points or 0.87 per cent to close at 78,956.03. During the day's trading, it fell 759.54 points or 0.95 per cent to 78,889.38. The NSE Nifty fell 208 points or 0.85 per cent to 24,139.Read More :- White fly and pink bollworm infest cotton crop
Cotton crop is infested by pink bollworm and white fly.This year too, cotton crop in Haryana and Punjab is facing the attack of white fly and pink bollworm. Like the last two years, this time too these pests have damaged the crop, forcing farmers to till their crops. Some farmers who have access to water are planting late varieties of paddy, while other farmers have started uprooting the crop to minimize their losses.However, in the previous years, the cotton crop had suffered heavy losses due to pink bollworm attack, the same is expected to happen this time too. In some villages of Fazilka, farmers are uprooting their crops and preparing to plant rice variety. According to the agriculture department, some hotspots of infection have been identified, but so far the attack of pests is within the prescribed limit.Jaswant Singh, director of agriculture department of Punjab, has admitted that there have been reports of farmers uprooting cotton crop. Farmers who have provided PR 126 variety of paddy seedlings are only able to uproot half of the crop.Haryana farmers are also facing the attack of white fly and pink bollworm this year. Satpal Bhadu, who grows cotton in 30 acres, has planted cotton in only 10 acres and now his crop is being attacked by pests. Sukhbir Manju, a resident of Khajuri-Jaati village in Fatehabad, had also given priority to rice crop, but now even the cotton crop has been attacked by pests.In this situation, farmers may have to make new plans for future crops and hope for more assistance from the government. READ MORE :- Bangladesh Crisis Presents Growth Opportunity for Domestic Textile Sector
This evening, the rupee ended the day 1 paisa down against the US dollar, at 83.97At the close of trading, the BSE Sensex fell 56.98 points or 0.07 per cent to close at 79,648.92. The NSE's 50-share index, the Nifty, slipped 20.50 points or 0.08 per cent to close at 24,347.00.READ MORE :- Bangladesh Crisis Presents Growth Opportunity for Domestic Textile Sector
Bangladesh's Crisis Offers the Domestic Textile Industry a Chance to GrowLudhiana: The ongoing political turmoil in Bangladesh has raised concerns within the global textile industry, but it also presents a significant growth opportunity for the domestic textile sector.Industry insiders believe that disruptions in supply chains, delivery delays, and production difficulties in Bangladesh could lead international buyers to explore alternative markets, providing a chance for domestic manufacturers to increase their market share.Ludhiana-based textile manufacturers are already receiving inquiries about potential exports. However, they caution that this growth may be temporary, with buyers likely to return to Bangladesh once the situation stabilizes.As the second-largest textile exporter after China, Bangladesh has been a key player in the global market, attracting many large companies due to its competitive labor costs and strong production capacity. The current instability has raised concerns about its ability to sustain these advantages.Experts warn that the potential benefits for the domestic textile sector depend on the crisis's duration. If the situation in Bangladesh resolves quickly, buyers and manufacturers may choose to maintain their existing relationships rather than risk the costs associated with relocating production.Badish Jindal, president of the All Industries and Trade Forums, commented, "The crisis in Bangladesh has caused uncertainty among buyers, manufacturers, and investors, prompting them to consider alternatives. This presents a significant opportunity for the domestic textile sector."However, Jindal noted that this opportunity would only be substantial if the crisis persists. Short-term disruptions are unlikely to shift long-term purchasing patterns. The timing of the unrest is critical, coinciding with the lead-up to the Christmas shopping season, a crucial period for the textile and apparel industries. Significant disruptions during this time could force buyers to seek other suppliers to avoid potential losses.Jindal added, "This urgency might drive buyers to explore the domestic market as a viable alternative. Additionally, new investments in Bangladesh may be on hold due to the political situation, creating further opportunities for India."Vinod Thapar, president of the Knitwear Club, acknowledged, "We are already seeing export queries. However, this is likely to be a temporary gain, as buyers will return to their original suppliers once the situation normalizes."Read More :> Agricultural productivity: Cotton, soybean productivity to increase
In early trade, the rupee falls flat against the US dollar at 83.95. Stock Market LIVE Updates: Sensex falls 500 pts, Nifty below 24,300; Adani Group stocks drop up to 7%Sensex and Nifty traded lower on Monday, with shares of the Adani group dropping after U.S. short-seller Hindenburg Research accused the head of the country's market regulator of having investments in offshore funds linked to the Adani group.Read More :>Karnataka Eyes Opportunity as Unrest Disrupts Bangladesh Textile Sector
This evening, the rupee held steady at 83.96 against the US dollarAt the close of trading, the BSE Sensex rose 819.69 points or 1.04 per cent to close at 79,705.91. The NSE's 50-share index, the Nifty, rose 250.50 points or 1.04 per cent to close at 24,367.50.Read more :- Karnataka Eyes Opportunity as Unrest Disrupts Bangladesh Textile Sector
In early trade, the rupee climbs 2 paise to 83.95 against the US dollar. Sensex climbs over 850 points, Nifty tests 24,350; Nifty IT surges 2%Indian bourses saw heavy buying interest at open on Friday, as the benchmark Sensex surged 789 points to 79,675, while the Nifty50 climbed 0.98 per cent or 235 points to 24,352 levels. Read More :> Karnataka Eyes Opportunity as Unrest Disrupts Bangladesh Textile Sector
This evening, the rupee held steady at 83.96 against the US dollarAt the close of trading, the BSE Sensex fell 581.79 points or 0.73 per cent to close at 78,886.22. The NSE's 50-share index, Nifty, fell 180.50 points or 0.74 per cent to close at 24,117.00.Read more :- Agricultural productivity: Cotton, soybean productivity to increase
Although unrest disrupts Bangladesh's textile sector, Karnataka sees an opportunity.Karnataka stands poised to capitalize on the disruption facing Bangladesh’s textile industry, as recent unrest in the neighboring country presents a potential advantage for India’s garment sector, according to Textiles Minister Shivanand Patil. Speaking at an event commemorating National Handloom Day on Wednesday, Patil emphasized that the instability in Bangladesh could benefit India’s textiles sector, and the state is preparing to leverage this situation.Patil noted that the turmoil in Bangladesh's garment industry creates a favorable opportunity for Karnataka. “The disruptions in Bangladesh are likely to impact their garment industry. This is an opportunity for us to explore and make the most of,” he said.Addressing the challenges faced by Karnataka's handloom sector, Patil highlighted the decline in income levels which has led many weavers to abandon their craft. He added that despite various welfare schemes provided by both state and central governments—including subsidies for electricity, low-interest loans, and educational scholarships for weavers’ children—the profession is struggling to attract and retain workers.Read More :> Agricultural productivity: Cotton, soybean productivity to increase
Productivity in agriculture: productivity for cotton and soybeans will riseMaharashtra News: Cotton and soybean are expected to produce good yields, leading the state's Kharif season this year. Agriculture department sources said that the productivity of both crops is likely to increase this year. Meanwhile, due to heavy rains in some parts of the state, water has accumulated in the fields of low-lying areas and the crops have started turning yellow and getting spoiled.If we look at sowing of soybean in the state since 2017, the average area has been 41 lakh hectares. However, this year farmers have increased the sowing area by 10 lakh hectares to 50 lakh hectares.The state's five-year average cotton area had become 42 lakh hectares. But in some areas, farmers switched from cotton to soybean. Due to this, cotton cultivation decreased to about 40 lakh hectares in the last season. It was estimated that the area would decrease further this year. But now it is clear that due to good rains, the area of cotton will not increase much this year, but it will not decrease either.Soybean crop has now reached the budding, branching to flowering stage. So cotton is now in the germination and sprouting stage in Vidarbha, Marathwada. According to the agriculture department, though cotton is in good condition, farmers and ginners should be cautious of pink bollworm. Keeping the ginning area clean and removing the previous fungus can help prevent bollworm infestation.Soybean and cotton are now facing two threats: excessive rainfall or rain at the time of harvesting. Last season, farmers had grown 66 lakh tonnes of soybean. Soybean productivity may increase from 1299 kg to 1413 kg per hectare compared to last year. If this happens, the total soybean production in the state is likely to exceed 72 lakh tonnes this year, believes the agriculture department.This year cotton production is also expected to increase from 88 lakh bales to 92 lakh bales (170 kg per bale). Last season, farmers got an average cotton productivity of 355 kg per hectare. If the weather remains favorable till harvesting, the productivity of cotton will increase by 40 to 50 kg this year. It is estimated that this year farmers can get about 400 kg of cotton per hectare.Read More :Bt Cotton Boosts Yield by 3-4 Quintals per Acre: Government Reports in Lok Sabha
Before the RBI MPC meeting, the rupee gains 1 paisa to 83.94 against the US dollar.Sensex down 280 pts, Nifty at 24200 reached upThe Sensex was down 288.27 points or 0.36 percent at 79,179.74, and the Nifty was down 91.60 points or 0.38 percent at 24,205.90. About 1796 shares advanced, 1231 shares declined, and 126 shares unchanged.Read More :> Ministry of Textiles empowers Ginners to produce Kasturi Cotton Bharat brand
This evening, the rupee ended the day 1 paisa down against the US dollar, at 83.96At the close of trading, the BSE Sensex rose 874.94 points or 1.11 per cent to close at 79,468.01. The NSE's 50-share index, the Nifty, rose 304.95 points or 1.27 per cent to close at 24,297.50.Read more :- Ministry of Textiles empowers Ginners to produce Kasturi Cotton Bharat brand
| title | Created At | Action |
|---|---|---|
| 15% Surplus Rain in First Half of August; Monsoon at 105% of Long Period Average | 16-08-2024 19:26:51 | view |
| India Lost 33.9 Million Hectares of Crops Due to Excess Rains, WEF Report Reveals | 16-08-2024 18:38:40 | view |
| The rupee strengthened by 2 paise to close at 83.95 against the US dollar this evening | 14-08-2024 23:43:37 | view |
| Cotton prices Surge as Acreage Declines in Punjab, Haryana, and Rajasthan | 14-08-2024 18:49:44 | view |
| The rupee closed unchanged at 83.97 against the dollar this evening | 13-08-2024 23:48:08 | view |
| White fly and pink bollworm infest cotton crop | 13-08-2024 20:19:43 | view |
| The rupee closed 1 paisa lower at 83.97 against the US dollar this evening | 12-08-2024 23:33:10 | view |
| Bangladesh Crisis Presents Growth Opportunity for Domestic Textile Sector | 12-08-2024 18:59:23 | view |
| Rupee turns flat at 83.95 against US dollar in early trade | 12-08-2024 17:19:05 | view |
| The rupee closed unchanged at 83.96 against the US dollar this evening. | 09-08-2024 23:33:04 | view |
| Rupee rises 2 paise to 83.95 against US dollar in early trade | 09-08-2024 16:42:36 | view |
| The rupee closed unchanged at 83.96 against the US dollar this evening | 08-08-2024 23:29:04 | view |
| Karnataka Eyes Opportunity as Unrest Disrupts Bangladesh Textile Sector | 08-08-2024 19:59:43 | view |
| Agricultural productivity: Cotton, soybean productivity to increase | 08-08-2024 17:44:54 | view |
| Rupee rises 1 paisa to 83.94 against US dollar ahead of RBI MPC meet | 08-08-2024 17:20:38 | view |
| The rupee closed 1 paisa lower at 83.96 against the US dollar this evening | 07-08-2024 23:40:58 | view |
