Cotton farmers hit hard in Andhra Pradesh as CCI yet to enter market, ensure MSPThe cotton farmers in the state are being exploited heavily this year, as the Cotton Corporation of India (CCI) is yet to enter the market. The private players in the market are offering throwaway price to the farmers, denying minimum support price (MSP) offered by the state government. This year, the CCI had announced an MSP of Rs 6,250 per quintal, while the market price now is just Rs 4,500 to Rs 5,500. The price is offered at the whims and fancies of the private buyers in the absence of the CCI in the market. The price which was around Rs 9,000 per quintal in the beginning of the season had come down to Rs 4,500 now. The private buyers are rejecting the yield at the market platforms on the grounds of quality, particularly discolour. The cotton is cultivated in 6.06 lakh hectors, which is close to 15 lakh acres, this year, with an estimated yield of 19 lakh bales (84.5 lakh quintals) at a productivity rate of 536 kg per hectare, according to the reports of the Agriculture Market Intelligence Centre of Acharya NG Ranga Agriculture University. While the entire country was estimated to produce 371 lakh bales of cotton from 129.57 lakh hectors in this season, Andhra Pradesh contributes 19 lakh bales. Interestingly, Andhra Pradesh is one of the third highest cotton producing state in the country, after Maharashtra and Gujarat.AP is a part of the Cotton Basket of India, including Maharashtra, Gujarat and Telangana, which collectively contribute two-thirds country’s cotton production. Cotton is produced in Kurnool, Guntur, Anantapur, Krishna and Prakasam districts, the top five districts in terms of area of cultivation and production. The price which was around Rs 6,000 per quintal in July 2020 had come down to Rs 2,500 in August 2020 and currently fluctuates around Rs 4,500 to Rs 5000 per quintal at the Adoni market in Kurnool district.
Xinjiang sees bumper cotton harvest this yearNorthwest China's Xinjiang Uygur Autonomous Region has seen a bumper harvest of cotton this year, with machines doing over 80 percent of the picking work, authorities said.The cotton harvesting work this year has almost been completed in the region, and the total yield is expected to reach 5.2 million tonnes, 39,600 tonnes higher than that of last year, according to the regional department of agriculture and rural affairs.The quality is also much higher compared with last year.Thanks to the high cotton prices since mid-September, cotton farmers are expected to reap an average net income exceeding 22,500 yuan (about 3,530 U.S. dollars) per hectare this year.The department estimates that machines have performed over 80 percent of the cotton-picking work, with the northern part of the region reaching nearly 100 percent of mechanized harvesting.The cotton and textile industry is one of the pillar industries in the region. Figures show that the cotton output of Xinjiang, the country's largest growing area for the crop, accounted for 87.3 percent of China's total in 2020.
Rupee collapses against dollar, opens weak by 9 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 9 paise at Rs 75.25 against the dollar. At the same time, on Friday, the rupee closed at Rs 75.16 with a weakness of 17 paise against the dollar.
Poor start in Sensex, falling 152 points to openToday the stock market opened with a fall. Today the BSE Sensex fell by about 151.81 points and opened at the level of 57544.65 points.
cotton farmers hit hard in Andhra Pradesh as CCI yet to enter market, ensure MSPThe cotton farmers in the state are being exploited heavily this year, as the Cotton Corporation of India (CCI) is yet to enter the market. The private players in the market are offering throwaway price to the farmers, denying minimum support price (MSP) offered by the state government.This year, the CCI had announced an MSP of Rs 6,250 per quintal, while the market price now is just Rs 4,500 to Rs 5,500. The price is offered at the whims and fancies of the private buyers in the absence of the CCI in the market.The price which was around Rs 9,000 per quintal in the beginning of the season had come down to Rs 4,500 now. The private buyers are rejecting the yield at the market platforms on the grounds of quality, particularly discolour.The cotton is cultivated in 6.06 lakh hectors, which is close to 15 lakh acres, this year, with an estimated yield of 19 lakh bales (84.5 lakh quintals) at a productivity rate of 536 kg per hectare, according to the reports of the Agriculture Market Intelligence Centre of Acharya NG Ranga Agriculture University. While the entire country was estimated to produce 371 lakh bales of cotton from 129.57 lakh hectors in this season, Andhra Pradesh contributes 19 lakh bales. Interestingly, Andhra Pradesh is one of the third highest cotton producing state in the country, after Maharashtra and Gujarat.AP is a part of the Cotton Basket of India, including Maharashtra, Gujarat and Telangana, which collectively contribute two-thirds country’s cotton production.Cotton is produced in Kurnool, Guntur, Anantapur, Krishna and Prakasam districts, the top five districts in terms of area of cultivation and production.The price which was around Rs 6,000 per quintal in July 2020 had come down to Rs 2,500 in August 2020 and currently fluctuates around Rs 4,500 to Rs 5000 per quintal at the Adoni market in Kurnool district.
*All India Weather Forecast for December 06, 2021**Weather systems made across the country*Cyclone Jawad has weakened into a deep depression and today at 5:30 hrs it was over North West and adjoining West Central Bay of Bengal near 18.4 N Longitude and 85.4 East Latitude.The circulation remains over Northeast Arabian Sea off South Gujarat Coast.A fresh Western Disturbance has reached the Western Himalayas.*Weather movement across the country during the last 24 hours*During the last 24 hours, Coastal Odisha received light to moderate rain with isolated heavy falls.Light to moderate rain occurred over Gangetic West Bengal, parts of Tamil Nadu and isolated parts of Kerala.Light rain occurred at isolated places over Manipur, Mizoram, Tripura, Interior Odisha, Lakshadweep, Madhya Maharashtra and Goa, Coastal Karnataka, Andaman and Nicobar Islands, Himachal Pradesh and South Chhattisgarh.Light rain and snowfall occurred in Jammu and Kashmir.*Weather activity likely during next 24 hours*During the next 24 hours, light to moderate rains with isolated heavy falls are very likely over Coastal Odisha, Gangetic West Bengal and Manipur, Mizoram and Tripura.Light to moderate rain may occur over Jharkhand, remaining parts of West Bengal, Tamil Nadu and Kerala.Light to moderate rain and snow may occur over Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, Ladakh, Himachal Pradesh and Uttarakhand.Light rain is possible over Meghalaya, Nagaland, Lakshadweep, Andaman and Nicobar Islands, parts of Punjab, Haryana and Northwest Uttar Pradesh.*Light rain or thundershowers may occur over Delhi NCR.**-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111977775
Today evening, the rupee depreciated by 17 paise to close at Rs 75.16 against the dollar.The Sensex closed at a level of 57696.46, down 764.83 points. On the other hand, Nifty closed at the level of 17196.70 points down by 205.00 points.
India's cotton textile exports grow 40.72% in November 2021India’s exports of textiles, covering cotton yarn/fabrics/made-ups, handloom products, etc increased by a substantial 40.72 per cent to $1.227 billion in November 2021, compared to $872.55 million in the same month of the previous year, according to the preliminary data on merchandise trade released by the ministry of commerce and industry.Readymade garment exports of all textiles increased slightly by 2.72 per cent from $1.043 billion in November 2020 to $1.072 billion last month, the data showed.India’s merchandise exports in November 2021 stood at $29.88 billion, showing an increase of 26.49 per cent over $23.62 billion in November 2020 and an increase of 15.93 per cent over $25.77 billion in November 2019.Cumulative value of exports from India for the period April-November 2021 was $262.46 billion, an increase of 50.71 per cent over $174.15 billion in April-November 2020 and an increase of 24.29 per cent over $211.17 billion in April-November 2019.The trade deficit in November 2021 was $23.27 billion, while it was $121.98 billion during April-November 2021.
Rupee depreciates against dollar, loses 2 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 2 paise at Rs 75.01 against the dollar. At the same time, on Thursday, the rupee closed at Rs 74.99 with a weakness of 9 paise against the dollar.
Sensex opened sharply today, up 216 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 215.76 points to open at the level of 58677.05.
Today evening, the rupee depreciated by 9 paise to close at Rs 74.99 against the dollar.Today the stock market closed sharply. Today, where the Sensex gained about 776.50 points, closed at the level of 58461.29 points. On the other hand, Nifty closed at the level of 17401.70 points with a gain of 234.80 points. Apart from this, a total of 3,400 companies were trading on the BSE today, out of which about 2,202 shares closed up and 1,049 shares closed down.
Heavy Rains Caused Major Losses for Cotton Farmers in Tamil NaduHeavy incessant rains and water-logging have led to huge losses for cotton farmers of Tamil Nadu, especially those in Tiruchi district, which is considered the hub of the crop in the state.The Agriculture and Farmers Welfare Department teams that conducted an inspection of cotton farms have come to a report that almost 60% of the cotton farms in Tiruchi were destroyed, leading to heavy losses for farmers.The department has assessed that cotton cultivated in about 5,500 hectares has been totally destroyed in the rains. In Tiruchi, cotton was cultivated in more than 10,000 hectares.Farmers were expecting a good season as cotton prices had touched an all-time high and in Tamil Nadu, the market price was Rs 76 per kg during the commencement of the season.Talking to IANS, Velmurugan, a cotton farmer at Thurayur in Tiruchi, said: "We were expecting a good profit and the rains came when we were about to harvest the cotton. Now almost all is lost and we have appealed to the state government to provide good compensation. I have cultivated cotton expecting that I could square off my liabilities with this year's crop, but things have turned upside down and I have fallen into more debt."In Madurai also, several cotton farmers have lost their whole crop leading to huge losses. A senior Agriculture Department official told IANS that they have done a field study on the estimated losses of cotton and will make a compilation based on the studies they conducted and file a report with the Department."The cotton farmers are in dire straits as our field report has revealed. Cotton farmers have had a failed season," the official said.
Rupee collapses against dollar, opens weak by 15 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 15 paise at Rs 75.05 against the dollar. At the same time, the rupee on Wednesday closed at Rs 74.90 with a gain of 25 paise against the dollar.
Strong opening in Sensex, opened up 124 pointsToday the stock market opened with great momentum. Today the BSE Sensex rose by about 123.84 points to open at the level of 57808.63 points.
*All India Weather Forecast for December 02, 2021**Weather systems made across the country*There is a low pressure area over the central part of Andaman Sea and the associated cyclonic circulation is extending up to mid-troposphere level. It is very likely to move west-northwestwards and center into a Depression by tomorrow, December 2. It may further intensify into a cyclone over central Bay of Bengal during the next 24 hours. It is expected to reach North Andhra Pradesh and South Odisha coast by the morning of December 4.A Cyclonic Circulation is persisting over Southeast Arabian Sea. Under its influence, a low pressure area is very likely to form over East Central Arabian Sea during next 24 hours. A trough is extending from the above cyclonic circulation up to North Maharashtra Coast.*Weather movement across the country during the last 24 hours*During the last 24 hours, Andaman and Nicobar Islands and Interior Tamil Nadu received light to moderate rain at one or two places.Light to moderate rains occurred over remaining parts of Tamil Nadu, South Coastal Andhra Pradesh, Kerala, Lakshadweep and Coastal Karnataka.Light rain was recorded over Interior Karnataka, parts of Konkan and Goa, Madhya Maharashtra and Gujarat region.*Weather activity likely during next 24 hours*During the next 24 hours, heavy to very heavy rainfall is very likely over Andaman and Nicobar Islands.Light to moderate rain at a few places with heavy rain at a few places is possible over Gujarat region, North Konkan and North Madhya Maharashtra.Light to moderate rain is likely over Kerala, Tamil Nadu, parts of Karnataka, remaining parts of Madhya Maharashtra, Konkan and Goa and parts of Saurashtra and Kutch and western Madhya Pradesh.Light rain is possible over Rayalaseema, Southeast Rajasthan and one or two parts of Himachal Pradesh and Uttarakhand.Strong gusty winds and high seas can occur over Gujarat and Maharashtra coasts. Wind speed can be 40 to 50 kilometers per hour.*-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111677774
Cotton prices to soften as arrivals set to increase, says CAICotton prices in India are expected to soften from their peak levels of around ₹8,000-8,800 a quintal (raw cotton) as the arrivals gain momentum, stated the chief of the top cotton body Cotton Association of India (CAI).Acknowledging that the cotton arrivals in India have been delayed partly due to the unseasonal rains and other factors, Atul Ganatra, President, CAI, stated that “cotton prices in India will fall once the arrivals pick up.”Addressing the 99th Annual General Meeting of the trade body on November 30, Ganatra expressed no need for restrictive measures to tame the spiralling prices, which have crossed ₹8,000 per quintal in several markets. “It does not require implementation of any restrictive measures to tame the cotton prices against the long- term interest of the entire cotton value chain including farmers,” Ganatra said adding that better realisations for cotton growers will encourage them to bring larger area into cotton next year.Regarding Indian cotton’s competitiveness in the international market, Ganatra stated that it is traditionally traded at a discount in the international markets compared with other competing countries. “Imposition of duty and other retrograde measures, when implemented, send a wrong signal and raise questions about the credibility of the whole country as a regular cotton supplier to the international market, thus playing a very vital role in attracting discounts,” he said.“Although farmers have a protection in Minimum Support Price, yet they deserve an opportunity to earn international prices like their counterparts in USA, Australia, Brazil and other developed countries. Therefore, at CAI we, believe in a free trade policy without any fetters,” Ganatra said.India enjoys a competitive advantage globally with its cheaper cotton prices. “Although Indian cotton prices have risen by about 58% during the last one year due to the strong fundamentals, yet they are still the cheapest in the world,” Ganatra said, adding that the comparable price rise in the international market as reflected in the Cotlook A index is much higher at 63%.Processed ginned cotton in India was quoted at ₹64,500 per candy (356 kg) on November 30, up from ₹57,000 quoted at the beginning of the season on October 1, 2021.
China state cotton reserves sales suspended from Dec 1, 2021The China National Cotton Reserve Company announces that the state cotton reserves sales will be suspended from December 1, on concern about current cotton market situation. If cotton market has big changes later, the state cotton reserves sales may restart.
Rupee opens 20 paise stronger against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a strength of 20 paise at Rs 74.96 against the dollar. At the same time, on Tuesday, the rupee closed at a level of Rs 75.16 with a weakness of 6 paise against the dollar.
Sensex opens sharply, rises 582 pointsToday the stock market opened with great momentum. Today the BSE Sensex opened with a gain of 582.29 points at the level of 57647.16 points.
*All India Weather Forecast for December 01, 2021**Weather systems made across the country*The Cyclonic Circulation lies over Southeast Arabia and adjoining Lakshadweep region extending up to 5.8 km above sea level.A low pressure area is expected to form over East-central Arabian Sea off Maharashtra coast around December 1.Another low pressure area is very likely to form over South Andaman Sea by the evening of 30 November. It is expected to move west-northwestwards and intensify into a depression over southeast and adjoining east-central Bay of Bengal during the next 48 hours.A Western Disturbance is likely to affect the Western Himalayas between December 1 and 2.Another fresh Western Disturbance is likely to affect Northwest India from the night of December 4.*Weather movement across the country during the last 24 hours*During the last 24 hours, light to moderate rain with isolated heavy falls occurred over Coastal Andhra Pradesh, parts of Tamil Nadu and Rayalaseema.Light to moderate rain occurred over remaining parts of Tamil Nadu, Rayalaseema, Kerala and Lakshadweep.Light rain occurred at isolated places over Karnataka and Marathwada and Andaman and Nicobar Islands.*Weather activity likely during next 24 hours*During the next 24 hours, light to moderate rain with isolated heavy falls at isolated places is likely over Coastal Andhra Pradesh, parts of Tamil Nadu, Kerala, South Gujarat and Andaman and Nicobar Islands and parts of Konkan and Goa.Light to moderate rain may occur over rest of Tamil Nadu and Madhya Maharashtra.Light rain is possible at isolated places over Rayalaseema, Karnataka, Central Gujarat, West Madhya Pradesh and Southeast Rajasthan.*-For Regular Commodity Market Update:**Call:9111977771*https://wa.me/919111977775
| title | Created At | Action |
|---|---|---|
| Cotton farmers hit hard in Andhra Pradesh as CCI yet to enter market, ensure MSP | 06-12-2021 10:52:31 | view |
| Xinjiang sees bumper cotton harvest this year | 06-12-2021 10:16:14 | view |
| Rupee collapses against dollar, opens weak by 9 paise | 06-12-2021 10:15:35 | view |
| Poor start in Sensex, falling 152 points to open | 06-12-2021 10:15:11 | view |
| Cotton farmers hit hard in Andhra Pradesh as CCI yet to enter market, ensure MSP | 06-12-2021 10:14:39 | view |
| *All India Weather Forecast for December 06, 2021* | 06-12-2021 07:47:23 | view |
| Today evening, the rupee depreciated by 17 paise to close at Rs 75.16 against the dollar | 03-12-2021 16:13:07 | view |
| India's cotton textile exports grow 40.72% in November 2021 | 03-12-2021 11:29:02 | view |
| Rupee depreciates against dollar, loses 2 paise | 03-12-2021 10:43:22 | view |
| Sensex opened sharply today, up 216 points | 03-12-2021 10:43:04 | view |
| Today evening, the rupee depreciated by 9 paise to close at Rs 74.99 against the dollar | 02-12-2021 16:57:21 | view |
| Heavy Rains Caused Major Losses for Cotton Farmers in Tamil Nadu | 02-12-2021 14:56:49 | view |
| Rupee collapses against dollar, opens weak by 15 paise | 02-12-2021 10:54:40 | view |
| Strong opening in Sensex, opened up 124 points | 02-12-2021 10:54:20 | view |
| *All India Weather Forecast for December 02, 2021* | 02-12-2021 07:20:27 | view |
| Cotton prices to soften as arrivals set to increase, says CAI | 01-12-2021 18:19:28 | view |
| China state cotton reserves sales suspended from Dec 1, 2021 | 01-12-2021 11:46:16 | view |
| Rupee opens 20 paise stronger against dollar | 01-12-2021 11:33:14 | view |
| Sensex opens sharply, rises 582 points | 01-12-2021 11:32:55 | view |
| *All India Weather Forecast for December 01, 2021* | 01-12-2021 07:22:26 | view |
