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Trump Claims India Offered Tariff-Free Trade DealIndia-US trade deal: US President Donald Trumpon Thursday claimed that India had put forward a proposal for a trade agreement with "no tariffs" or 'zero tariffs". Trump said that India has proposed eliminating import duties on American products. Trump said that Indian authorities have put forward a proposition that would essentially remove all import taxes on US merchandise.The Indian government aims to secure a trade agreement with America during the 90-day suspension declared by Trump on April 9 regarding tariff increases for significant trading partners, which had incorporated a 26% duty on India."It is very hard to sell in India, and they are offering us a deal where basically they are willing to literally charge us no tariffs," Trump said in a meeting with executives in Doha, according to a Reuters report.The United States maintains its position as India's primary trading partner, with the total bilateral trade reaching approximately $129 billion in 2024. Currently, India holds a favourable trade position, maintaining a surplus of $45.7 billion in its trade dealings with the United States.Last week, Reuters reported that India has offered to lower its tariff gap with the US to less than 4% from the present 13%, aiming to gain exemption from Trump's current and upcoming tariff hikes, according to two sources close to the bilateral negotiations.Both nations are striving for a quick resolution.Following the Trump administration's recent 'breakthrough deal' with Britain, which saw reduced British duties on US goods while maintaining America's 10% baseline tariff on British imports, a potential template has emerged for talks with other trade partners.According to two Indian government officials directly involved in the talks, New Delhi has suggested removing duties on 60% of tariff lines in the first stage of negotiations, as disclosed to Reuters.read more :- Indian Rupee Opens Firm, Rises 27 Paise to 85.27 vs Dollar

The local currency opened at 85.27 against the US dollar, compared to the previous close of 85.54.The Indian rupee opened 27 paise higher on May 16, tracking a decline in the dollar index during early trade.read more :-Indian Rupee lower 01 Paisa, Ends at 85.54 per Dollar

Rupee falls  01 Paise, Closes at 85.54 Against US DollarThe Indian rupee on thursday lower 1 paise to close at 85.54 per dollar, while it opened at 85.53 in the morning.The Sensex was up 1,200.18 points or 1.48 percent at 82,530.74, and the Nifty was up 395.20 points or 1.60 percent at 25,062.10. About 2511 shares advanced, 1302 shares declined, and 139 shares unchanged.read more :-Australia's cotton harvest for 2024-25 season more than 70% complete, production crosses 5 million bales

Australia Cotton Harvest 70% Done, Exceeds 5M BalesSYDNEY – More than 70 percent of cotton harvesting in Australia for the 2024-25 season has been completed. According to industry body Cotton Australia, total production this year is likely to exceed 5 million bales.Most cotton producing areas in New South Wales and Queensland have recorded above-average yields and better quality of cotton this year. The estimated 5.1 million bale crop could prove to be another successful year for the Australian cotton industry, extremely close to record crop levels and equal to last season's production.Some industry groups, such as the Australian Cotton Shippers Association, believe the figure could reach 5.5 million bales. The improved forecasts are underpinned by an increased cotton planted area this year, with farmers planting 390,000 hectares of irrigated cotton and 131,000 hectares of dryland cotton — down from 370,000 and 111,000 hectares respectively last year.Cotton Australia general manager Michael Murray said the higher production was expected from the larger planted area, but rain-affected yields in some areas took a toll. "Yields have been good but could have been better without some periods of rain. However, the results are very positive across most regions," he said.He also said the "Goldilocks"-like ideal weather (dry and sunny) in some parts during March and April had led to excellent crop quality and yields.While harvesting is still ongoing in some areas, both irrigated and dryland crops performed better than average. Mr Murray also cited reports of irrigated cotton yields of up to 16 bales per hectare in the Darling Downs region.read more :-Bangladesh set to remain world’s top cotton importer in MY26

Bangladesh to Stay Top Cotton Importer in MY26Bangladesh is on track to retain its status as the world's biggest cotton importer in the marketing year (MY) 2025-26, with imports projected to reach 8.5 million bales, according to a record-setting forecast by the United States Department of Agriculture (USDA).Vietnam is set to follow closely with 8 million bales, marking an all-time high for both countries, as per the USDA's latest Cotton: World Markets and Trade report.The report highlights a modest rebound in global cotton consumption, which is expected to hit a five-year high of 118.1 million bales. This resurgence is attributed to stable economic activity, particularly in major textile-exporting countries such as Bangladesh and Vietnam.For Bangladesh, the surge in cotton imports reflects the continued expansion of its ready-made garment (RMG) industry — the backbone of its export economy.In the first 10 months of FY25, Bangladesh's RMG exports grew 10.86 percent year-on-year to $30.25 billion, according to Export Promotion Bureau (EPB) data.Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said Bangladesh's decision to import more cotton from the US is part of a broader strategy to reduce the trade gap between the two countries.He noted that the record volume of cotton imports would also strengthen Bangladesh's case for securing duty-free access for its RMG products in the US market."The government has already taken necessary initiatives in this regard," Hatem said.He further stated that US cotton is considered the best in the world in terms of quality and consistency, making it the preferred choice for local spinners and manufacturers."With global buyers increasingly prioritising sustainable sourcing and natural fibres, cotton remains a vital raw material for Bangladesh's spinners and knitwear producers," Hatem added.He viewed the USDA's import forecast as a strong endorsement of Bangladesh's capability to maintain and expand its leadership in the global apparel value chain.The global cotton trade is also forecast to rise by 2.3 million bales to 44.8 million bales in MY26, indicating a broader uptick in demand across textile-producing economies.China, which imported 15 million bales in MY24, is projected to import only 7 million bales in MY26. The country's shift away has left space for Bangladesh to rise to the top, which analysts say marks a notable structural shift in global cotton trade flows.The USDA also anticipates stable cotton prices globally, aided by adequate supply, a weakening US dollar, and declining energy costs. These trends may ease cost pressures for Bangladeshi millers, who have grappled with high input costs over the past two years.On March 17 this year, Foreign Affairs Adviser Md Touhid Hossain said Bangladesh intends to import more cotton from the US, creating mutual benefits for US suppliers and local businesses.He added that such trade ties could offer Bangladesh protection amid former US President Donald Trump's tariff-centric policies.Although the Trump administration has levied high tariffs on many countries, Bangladeshi goods have so far remained outside the purview of such punitive measures.Hossain argued that sourcing more US cotton could further dissuade the administration from targeting Bangladesh, whose products face an average tariff of 15.62 percent in the US market.He also stressed the need to boost domestic cotton production to meet at least 20 percent of the country's annual demand, amounting to about 9 million bales.read more :-Global cotton production projected at 117.8 mn bales in 2024-25: WASDE

WASDE Projects 117.8 Mn Bales of Cotton in 2024-25For 2024–25, the United States Department of Agriculture (USDA) has projected a decrease in global cotton production by 3.08 million bales, bringing the total to 117.81 million bales (each weighing 480 pounds), according to its May 2025 World Supply and Demand Estimates (WASDE) report. Global cotton production for 2025–26 is expected to increase by nearly 1.5 per cent from 2024–25, as higher beginning stocks offset the decline in production.Global consumption is projected to rise by 1.2 per cent to 118.08 million bales, as increases in Bangladesh, India, Turkiye, and Vietnam (collectively a 1.40 million bale increase) more than offset a 500,000-bale decline in China, with smaller changes elsewhere. Global trade is expected to rise by over 5 per cent to 44.83 million bales, as both the United States and Brazil are projected to increase exports by over 1 million bales each. Ending stocks are essentially unchanged from 2024–25 at 78.38 million bales.In the 2024–25 world balance sheet, production, consumption, and trade have been revised upward from the April forecasts, with beginning stocks virtually unchanged and ending stocks revised downward. Due to excellent early harvest yields, Australia’s projected crop has been raised by 200,000 bales, accounting for much of the increase in production.Consumption and imports have each been raised by 300,000 bales for both Pakistan and Vietnam, while imports by China have been reduced by 500,000 bales. As a result, ending stocks have been reduced by over 450,000 bales to 78.40 million, for an ending stocks-to-use ratio of 67.1 per cent.The forecast for the current season for US cotton shows a small increase in production, higher exports, higher beginning and ending stocks, and unchanged consumption compared to 2024–25. Planted area is expected to be 9.87 million acres based on the March 31 Prospective Plantings report. With recent precipitation in the Southwest, abandonment is projected to be lower than average, resulting in a US harvested area of 8.37 million acres, higher than the 7.81 million acres harvested in 2024–25.The national average yield for 2025–26 in the US is projected at 832 pounds per harvested acre, below last year’s 886 pounds, based on regionally weighted five-year averages. Production is projected to be 14.50 million bales, slightly above the 14.41 million bales produced in 2024–25. Exports are projected to rebound to 12.50 million bales, up from 11.10 million, due to larger beginning stocks and higher global import demand. Ending stocks are forecast to be 400,000 bales higher at 5.20 million, resulting in an ending stocks-to-use ratio of 36.6 per cent. The projected season-average price for 2025–26 is 62 cents per pound.The 2024–25 balance sheet for US cotton reflects a 200,000-bale increase in projected exports to 11.10 million and a crop of 14.41 million bales based on NASS’s final estimate of 2024–25 US cotton production. As a result, ending stocks for 2024–25 are reduced to 4.80 million bales. The projected 2024–25 season-average price remains unchanged at 63 cents per pound.read more :-Maharashtra : Cotton seed sales start today; preparations for pre-season planting in Khandesh

Cotton Seed Sales Begin in MaharashtraJalgaon News : Preparations are underway for pre-season or horticultural cotton cultivation in Khandesh. Cotton seeds have reached the sellers and their sale will start from Thursday (15th).There will be a demand for about 25 to 26 lakh cotton seed packets in Jalgaon district. There is also a demand for direct, indigenous cotton varieties. For this, farmers are going to Madhya Pradesh and Gujarat. There is doubt whether some direct, indigenous varieties, which are in great demand, will be available on Thursday.This year, cotton cultivation in the country is likely to decline. But there will not be any major decline in it. Horticultural farmers have planned to reduce the area and cultivate other crops. Some people have decided not to plant. This will reduce the sowing of pre-season cotton. The total area under irrigated cotton cultivation is two lakh hectares. But this year there will be a reduction of two to two and a half thousand hectares in cultivation. The total cotton cultivation in the country is expected to be around five and a half lakh hectares. There are indications that this year this crop will be planted in five lakh i.e. four lakh 90 thousand hectares.Farmers have done a lot of pre-cultivation in the fields for pre-season cotton cultivation. First of all, the field was plowed deeply and allowed to warm up. After this, many people used rotavators to plow the fields. 100 percent of the farmers in Khandesh use drip irrigation for pre-season planting. This immediately started the work of properly installing the drip system. This month it will start in earnest. Many people have completed it this week. Since cotton seeds will be available from May 15, farmers have planned to buy them and sow them this month.The heat has reduced in Khandesh in the last three-four days. The maximum temperature reached 44 degrees Celsius. At present, the maximum temperature has come down. Because it is cloudy. As soon as the temperature drops further, planting work will start. Many farmers will sow after May 25. Some farmers are going to start farming from June 1.Planning of planting on raised bedsMany farmers have planned to sow cotton at an interval of four times one and a half feet, three times two feet. Some people have planned to sow cotton at an interval of four times two feet. Many people have also prepared beds for cultivation in black fertile soil. Because heavy rains damage the crop. Mattress pads help in drainage of water.read more :-Rupee falls 26 paise at open to 85.53 against US dollar

Rupee opens at 85.53 versus the US dollar, down 26 paise.Indian rupee opened 26 paise lower at 85.53 per dollar on Thursday versus Wednesday's close of 85.27.read more :-Indian Rupee lower 21 Paisa, Ends at 85.27 per Dollar

The Indian rupee on wednesday lower 21 paise to close at 85.27 per dollar, while it opened at 85.06 in the morning.At close, the Sensex was up 182.34 points or 0.22 percent at 81,330.56, and the Nifty was up 88.55 points or 0.36 percent at 24,666.90. About 2749 shares advanced, 1085 shares declined, and 134 shares unchanged.read more :-New equation for Kharif crops: Preference for 'these' crops instead of cotton!

Kharif Switch: Farmers Ditch Cotton for New CropsMaharashtra: There is a big change in the crop pattern for the Kharif season in Chhatrapati Sambhajinagar district. Due to low profit in cotton prices and continuous increase in production cost, farmers are turning to soybean, maize and jowar instead of cotton this year.According to the estimate of the Agriculture Department, the area of cotton will decrease by about 21 thousand hectares, while the area of soybean is estimated to increase by 144 percent.For the last few years, the profit from cotton crop is getting less, prices are also weak. Apart from this, looking at the cost from cultivation to production, it seems that cotton is not affordable.Due to this, the Agriculture Department has estimated that this year the area of cotton in the district will be reduced by about 21,346 hectares. Recently, a pre-kharif season meeting was held in the District Collector's office under the chairmanship of Guardian Minister Sanjay Shirsat. In this meeting, information was given about the possible crop sowing for the Kharif season. According to this, during the Kharif season, sowing is done in about 6 lakh 86 thousand 562 hectares of area in the district. This year also sowing is expected in the same area. However, it was also noted that there will be a change in the crop pattern. For the last several years, cotton is being cultivated on about 3 lakh 87 thousand 146 hectares in the district.The attachment of farmers towards cotton is decreasing, because for the last three years the price received for cotton has not been in line with the production cost. Cotton cultivation has been declining since last year. The Agriculture Department estimates that this year the area will decrease by about 21,346 hectares. While the area of cotton is decreasing in the district, the area of soybean is increasing. Last year, soybean was cultivated on only 24,398 hectares of land in the district. This year this area is estimated to reach 35,125 hectares.The agriculture department said that soybean sowing is expected to increase by 144 per cent. Turi got a good price last year. It was estimated that the area of Turi would increase. Maize crop is also becoming popular among farmers. This year maize will be planted in about 1 lakh 92 thousand 512 hectares. Jowar is on the verge of extinction. Kharif jowar was sown well in the district 30 years ago. However, Kharif jowar is not used for food. Farmers are now sowing jowar only because it provides fodder to animals.read more :-Rupee Rises 28 Paise to 85.06 Against Dollar

Indian rupee opens 28 paise higher at 85.06 against US dollarThe local currency opened at 85.06 against the US dollar, as compared to 85.34 at the previous close against the greenback.read more :-Monsoon 2025 Updates: Meteorological Department gives update on monsoon, enters Bay of Bengal, Andaman Sea