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In early trading, the rupee drops 9 paise to 85.61 versus the US dollar.The rupee dropped 4 paise to 85.52 (provisional) against the US dollar in early trade on Monday, as dollar demand from importers, foreign fund outflows and a muted trend in domestic equities dented investor sentiments.Rupee on Tuesday fell by 9 paise to 85.61 against US dollar in early trade.Read More :-  By the end of March 2025, Iran expects to produce 65,000 tons of cotton.

Iran forecasts 65,000 tons of cotton production by end of March 2025The director of cotton planning at the Ministry of Agriculture announced that cotton harvesting in Iran began in September, and 65,000 tons are projected to be produced by the end of the current Iranian calendar year, which ends on March 20, 2025. Ebrahim Hejjarribi shared these projections in an exclusive interview with IRIB, highlighting ongoing efforts to meet the country's cotton demands.Hejjarribi explained that domestic cotton producers supply about half of the cotton needed by the textile industry, while the rest is imported. The demand for cotton in the domestic market is between 150,000 and 180,000 tons annually. However, by the end of the current year, it is estimated that domestic production will meet about 40 percent of this demand.This production is part of the government's broader efforts to reduce dependence on imports and support local cotton farmers. Despite the increase in domestic cotton production, a significant gap persists between total demand and locally sourced supply. The industry is still highly dependent on imported cotton to meet the entire requirements of the textile sector.The goal of achieving a greater share of domestic production is key to the country's economic strategy, as it seeks to strengthen the agricultural sector and reduce dependence on foreign cotton sources. The ongoing efforts reflect a comprehensive initiative to boost agricultural production and address local supply shortages in various industries.Read more :-  The rupee declined by 2 paise to close at 85.54 against the dollar this evening

This evening, the rupee fell 2 paise to settle at 85.54 vs the US dollar.The Sensex closed 450.94 points or 0.57 per cent lower at 78,248.13, while the Nifty fell 168.50 points or 0.71 per cent to 23,644.90. The market breadth was negative, with 1,368 stocks advancing, 2,460 declining and 140 remaining unchanged.Read More :-  Cotton prices fall as global cotton production forecast to rise by over 1.2 million bales

As global cotton production is expected to increase by more than 1.2 million bales, cotton prices decline.Cotton futures closed -0.53% lower at ₹54,140 on the back of higher global production estimates and tight domestic supplies. Global cotton production for the 2024-25 cotton year is forecast to rise by over 1.2 million bales to reach 117.4 million bales, mainly due to higher production in India and Argentina. In India, key northern states—Punjab, Haryana and Rajasthan—have seen a sharp decline of 43% in kapas (unginned cotton) arrivals till November 30 compared to last year. This decline has led to supply chain disruptions, with farmers holding back produce in anticipation of better prices, while ginners and spinners are facing raw material shortages, especially in Punjab.The Cotton Association of India (CAI) has maintained its cotton consumption forecast for the 2024-25 season at 313 lakh bales at 170 kg per bale, while cotton pressing is estimated at 302.25 lakh bales. Cotton imports are also expected to rise significantly to 25 lakh bales in the current crop year, up from 15.20 lakh bales in the previous year. Moreover, U.S. cotton production has been revised upwards to about 14.3 million bales, while global output has risen by 1.2 million bales to 117.4 million, mainly due to a 1-million-bale increase in India's crop.Technically, fresh selling is underway in the market, with open interest rising 0.27% to 368. Prices have fallen by ₹290, support is at ₹53,890 and if broken, a possible test of ₹53,630 is possible. Resistance is seen at ₹54,520, and in case of a bullish trend, the possible upside target is ₹54,890.Read more:- Cotton prices hit 3-year low, ginning mills suffer

Ginning mills suffer as cotton prices fall to a three-year low.Ahmedabad: Due to a fall in international prices, cotton prices have fallen to a three-year low of Rs 53,500 per candy (356 kg). Despite peak season, ginning mills in Gujarat are facing financial difficulties due to falling prices, with over 25% of the units shut. The state witnessed an arrival of 30,000 cotton bales (170 kg each) per day, with the Cotton Corporation of India (CCI) making substantial purchases. Meanwhile, spinning units are operating at almost full capacity and showing positive financial results."Cotton prices have fallen to a three-year low of Rs 54,000 per candy. Ginning units are struggling as they bought raw cotton at high rates. Now the rates are falling continuously, putting pressure on mills. The fixed cost of ginning units is high; therefore, these units operate even after incurring losses," said Apurv Shah, vice-president, Gujarat Chamber of Commerce and Industry (GCCI). Industry reports indicate a decline in cotton cultivation in Gujarat, with production estimated at 88 lakh bales this year, 4 lakh bales less than last year. "November to January is considered the peak season for cotton, and despite this, ginning units are not operating at full capacity. There are around 800 ginning units in Gujarat; 450 of them are fully operational, while many are operational only a few days a week. Around 20% of the mills have not started crushing this year," Shah said. Spinning facilities have become profitable due to the fall in cotton prices.Jayesh Patel, senior vice-president of Spinners Association Gujarat (SAG), said, “At the moment, spinning units are getting some profit, as cotton prices have gone below the level of Rs 54,000 per candy. Now, CCI is buying a significant amount, and we demand that it should keep a reserve quota of cotton for the Indian textile industry, so that the industry gets priority. Spinning mills in the state are running at almost full capacity, and yarn prices are currently at Rs 240 per kg, but the demand is not strong. So there is a fear that prices will come down in a few days, as cotton stocks in the open market are reducing with CCI's strong buying.Read More :- Rupee weakens against dollar, Rupee falls by five paise to 85.53 per dollar in early trade  

Rupee depreciates against the dollar; in early trading, it dropped five paise to 85.53 per dollar.Rupee fell by five paise to 85.53 per dollar in early trade on Monday. Investor sentiment was affected amid heavy demand for dollars from importers, foreign capital withdrawal and soft trend in domestic stock markets, which put pressure on the domestic currency. Foreign exchange traders said that the rupee witnessed heavy volatility on Friday and on Monday, the rupee weakened amid heavy demand for dollars related to the expiry of December currency futures and maturity in outstanding futures.Read More :- All India Weather Warning for today

Today's weather warning for all of IndiaThunderstorm accompanied with hailstorms also likely over Southeast Himachal Pradesh, Uttarakhand, Punjab, Haryana, Chandigarh, Delhi, Uttar Pradesh, East Rajasthan, Vidarbha, Madhya Maharashtra, Marathwada & Gujarat Region on 27th and Madhya Pradesh on 27th & 28th December.Cold day to severe cold day conditions very likely in some parts of Himachal Pradesh on 27th & 28th DecemberDense to Very dense fog conditions very likely to prevail during late night/early morning hours in isolated pockets of Rajasthan during 27th-29stDecember;Ground frost conditions very likely in isolated pockets of Arunachal Pradesh and Nagaland, Manipur, Mizoram & Tripura on 27th December.Read More :- This evening, the rupee weakened by 26 paise against the dollar and closed at Rs 85.52

The rupee fell 26 paise versus the dollar to settle at Rs 85.52 Thursday evening.At the close, the Sensex was up 226.59 points or 0.29 per cent at 78,699.07 and the Nifty was up 63.20 points or 0.27 per cent at 23,813.40. Around 1866 stocks advanced, 1946 declined and 113 stocks remained unchanged.Read More :- ICE Cotton records lowest trading volume; prices slightly lower

The lowest trading volume is recorded by ICE Cotton, with somewhat lower prices.ICE Cotton on Thursday recorded the lowest trading volume in two years due to reduced trading hours and the consolidation phase in the market. US cotton prices closed slightly lower, with price fluctuations remaining in a narrow range.On Thursday, the ICE Cotton March 2025 contract closed 0.03 cents lower at 68.75 cents per pound (0.453 kg). The session recorded the lowest trading volume in two years, with only 13,139 contracts traded. Trading hours were reduced to 6 hours and 50 minutes compared to the usual 17 hours and 20 minutes due to the post-Christmas holidays.Price fluctuations remained in a narrow range, with March futures closing only 3 points lower. Other contract months declined from 8 points lower to 9 points higher.NYMEX crude oil prices fell during a mild holiday break, hit by a stronger dollar that made polyester, a cotton alternative, cheaper.The USDA is scheduled to release its weekly export sales report today, delayed due to the Christmas holidays.Brazil's 2024-25 cotton acreage forecast is 2.12 million hectares, up 0.4 percent from the November estimate, due to a revision in the acreage forecast for Bahia state. Mato Grosso, Brazil's largest cotton-producing state, maintained its acreage forecast at 1.56 million hectares. Bahia, the second-largest producing state, raised its acreage forecast from 365,000 hectares to 374,000 hectares.According to Conab forecasts, Brazil's total cotton acreage is expected to increase by 6.5 percent compared to last year and exceed 2 million hectares for the first time in 36 years.Currently, ICE cotton for March 2025 is trading at 68.74 cents per pound (down 0.01 cent). Cash cotton is trading at 66.92 cents (unchanged). The May 2024 contract is at 69.85 cents per pound (down 0.01 cent), the July 2025 contract is at 70.91 cents (up 0.03 cents), the October 2025 contract is at 69.50 cents (up 0.09 cents) and the December 2025 contract is at 69.98 cents (up 0.03 cents). Some contracts remained the same as the previous close, with no trading today.Read More :-  Maharashtra: Cotton growers worried over strong possibility of hailstorm and rain

Maharashtra: Cotton farmers are concerned about the high likelihood of rain and hailstormsChhatrapati Sambhajinagar: The India Meteorological Department (IMD) has issued a forecast of rain and hailstorm in parts of Marathwada in the next few days, giving sleepless nights to cotton growers and other farmers.Ganesh Mane, a farmer from Beed district, said he is yet to harvest the cotton crop grown on 15 acres. "I am among the many farmers who have sown cotton a little late. Now the crop is ready for harvesting, but rain during the peak winter season will cause me huge losses," he said.Cotton growers feared that their crop may get ruined if the cotton gets damp or wet due to rain or hailstorm. Farmer rights activist Jayaji Suryavanshi said the uncertainty of monsoon will prove disastrous for cotton growers. "Many farmers have suffered losses due to heavy rains in the Kharif season. Now the Rabi season is also getting affected due to bad weather," he said. Rabi crops are cultivated in about 19 lakh hectares in Chhatrapati Sambhajinagar and Latur divisions. A large part of this is cotton cultivation.Agriculture department officials said that farmers who have harvested cotton crop should take care of their crop. A senior official said, "Cotton storage should be well covered to protect it from rain. Vehicles carrying cotton for transportation should also be protected from rain." According to the IMD, Chhatrapati Sambhajinagar and some other areas of the region are likely to receive hailstorm along with thunderstorms on Friday, followed by partly cloudy sky with moderate rain or thunderstorms in the next two days.Read More :- Traders demand cut in cotton MSP

Cuts in cotton MSP are demanded by traders.Amid falling cotton exports and rising imports, there is a growing demand among cotton traders and associations in Gujarat to reduce the minimum support price of the crop.According to Ajay Shah, secretary of Gujkot Vyapar Sangh, if the MSP remains the same, it could signal another nationwide drought for the cotton sector and the textile value chain."Implement a free market mechanism for cotton and give more subsidy to farmers," he said. The MSP mechanism is implemented by the government to support farmers by buying their crops at a pre-determined remunerative price.The 2024-2025 MSP for cotton is Rs 7121 per quintal and Rs 7521 per quintal for medium and long-staple cotton varieties, respectively. This has further added to the challenges faced by cotton traders and mills, who are already struggling to remain competitive in the global market. Speaking to FE, Shah said, "By December 2024, we estimate that the government has bought about 60% of cotton stocks from farmers. Private players are buying less stocks due to the high MSP." Instead, many companies are importing cotton from countries such as Brazil, Australia, West African regions and the USA - which offer lower prices than India's MSP. For example, Brazil reduced its cotton export price to US$0.7060 per pound in October 2024 - a price 15.9% lower than the international market average.Read More :-  Rupee falls to new low of 85.27 as importers stock up dollar at month end