Cotton Market: Cotton prices are at low levels in KhandeshJalgaon Cotton Market Update: Cotton prices in Khandesh have come down to the lowest level ie 7300 to 7400 rupees per quintal. The income has reached 80 thousand quintals per day. The rate level has fallen due to rising inflows.This month income increased more. In April, an average of 68 thousand quintals of cotton was imported in Khandesh per day. The inflow has increased in the last three to four days of this month. Because the rainy season has cleared. Laborers have also returned to work. Cotton processing factories are working fast.Demand for cotton has increased. This has increased shopping in villages. Income is also increasing. As a result, pressure on rates has increased. Currently 13 to 14 thousand bales (one bale is 170 kg cotton) are being produced in the factories of Khandesh. This process will be faster. Because the import of cotton is getting regular.Last month, the average rate for village purchases was Rs 7,500 to Rs 7,600. But this month the rate has fallen. The minimum rate is Rs 7300 per quintal. The loss of farmers has increased due to low prices.In Khandesh this year, the maximum purchase rate of Kheda was Rs 9200 to 9300 per quintal in early November. By February, rates continued to fall. But during this period the minimum rate was Rs 8100 to 8250 per quintal.1900 loss per quintal to the farmerIn March and April the rate remained below Rs 7800 and this month the rate has come down to Rs 7400 per quintal. At present the farmer is suffering a loss of Rs 1800 to 1900 per quintal.If cotton is kept in the house for a long time, it gets spoiled. Also, where there is cotton, there is now provision for keeping fodder. Due to this many farmers are selling cotton.32 to 35 percent farmers have cotton stocksToday, about 32 to 35 percent of farmers in Khandesh have cotton stock. This stock is more in Chopda, Yaval, Jalgaon areas of Jalgaon district. In Dhule and Nandurbar, only 20 to 25 percent of farmers have cotton stock.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/newsdetails/2340
Agriculture: Revival of cotton needed to surviveCotton is called "White Gold" because of its value and utility in human life. Pakistan is the world's fifth largest producer of cotton, and the cotton crop is indispensable to Pakistan's economy.Exports of cotton and textile products account for about 60 percent of the country's total exports. It contributes about 0.6pc to the GDP and 2.4pc to the value added segment of agriculture.Cotton was grown in 15 percent of Pakistan's total cultivated area, which has been reduced to 10 percent. About 62% of Pakistan's cotton is produced in Punjab, and the remainder is grown in Sindh, with negligible area under cotton in Khyber Pakhtunkhwa and Balochistan.Since the planting of the cotton crop, the highest area under cotton crop was 3.19 million hectares during 2004-05, an all-time high of 14.26m bales as compared to 2.06m hectares and 4.91m bales in 2022-23 was production. This means a 36 per cent area reduction and 66 per cent decline from its peak production. Furthermore, it has been 41% less productive than the previous year.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/newsdetails/2337
Sensex up 250 points, Nifty close to 18,400Equity benchmark indices gained in early trade on Monday after relief in CPI inflation, which fell to an 18-month low of 4.7 per cent in April. The BSE Sensex advanced 160 points to 62,200 and the NSE Nifty 50 advanced 45 points to 18,360.Rupee falls 6 paise to 82.24 against US dollarThe rupee depreciated 6 paise to 82.24 against the US dollar in early trade on Monday on the strength of the American currency overseas.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/newsdetails/2334
Weekly Cotton Review: Prices remain steady amid weak businessKARACHI: Cotton rate witnessed overall stability in the last week. trading volume; Although it was very less. The crisis in the textile sector is deepening. Positive measures needed to increase cotton cultivation; However, at present the condition of cotton sowing is satisfactory.In the domestic cotton market, the prices remained overall stable during the last week. The trading volume remained low due to low interest in cotton procurement by textile and spinning mills.Actually, there is an atmosphere of despair in the textile sector because the government is not paying attention to the problems of this sector. The government has already withdrawn incentives given to the textile sector due to pressure from the International Monetary Fund (IMF).It is feared that the country's exports will fall further as a result of uncompetitive energy and gas rates, which have already pushed the textile sector into dire straits, badly affecting the cotton business.However, effective steps are being taken by the government to increase cotton production. The government has timely fixed the intervention price of fruit at Rs 8500 per 40 kg. It has also announced several incentives for cotton farmers, while rice cultivation has been banned in most cotton-growing regions.According to the information received from the cotton producing areas, at present the sowing of cotton is said to be satisfactory. According to experts, if the weather is favourable, cotton production is expected to increase. This year the government has set a target of one crore twenty seven lakh seventy thousand bales of cotton production.The rate of cotton in Sindh ranged from Rs 18,000 to Rs 20,500 per head. The rate of footi which is available in small quantity is 7 thousand to 8500 rupees per 40 kg. Cotton rates in Punjab range from Rs 19,000 to Rs 21,000 per head, while footy rates range from Rs 7,500 to Rs 9,000 per 40 kg. Khal, cottonseed and oil remained unchanged. The Spot Rate Committee of the Karachi Cotton Association kept the rate unchanged at Rs 20,000 per head.According to Naseem, president of the Karachi Cotton Brokers Forum, there was volatility in the international cotton markets. New York cotton futures trading saw a lot of volatility in its rates. The rate first fell to a low of 76 US cents per pound before rising to a high of 85 US cents per pound and closing at a low of 80.53 US cents per pound.The overall bearish trend in cotton rates in India continues. According to the estimates of the Cotton Association of India, there will be a short production of 298.35 lakh bales in the 2022-23 season. The reason for the lower production is that Maharashtra, Telangana, Tamil Nadu and Orissa will produce less cotton.According to the USDA's weekly export and sales report for the year 2022-23, about two lakh forty six thousand eight hundred bales were sold, which was 7 percent more than the previous week.China topped by purchasing one lakh six thousand two lakh bales. Vietnam bought 77,800 bales and stood second. Bangladesh bought 36,000 bales and came in third. Turkey bought seventeen thousand six hundred bales and stood at the fourth position. Pakistan bought 9,200 bales and stood fifth. Twelve thousand eight hundred bales were sold in the year 2023-24.Nicaragua topped the list buying 4,400 bales. Peru was second with 3,200 bales. Mexico bought 3,100 bales and ranked third. Turkey bought 2,200 bales and ranked fourth.Cotton cultivation is booming in Punjab and 50% area under cotton has already been brought under cultivation, Agriculture Secretary, Punjab Iftikhar Ali Shahu at APTMA office, Lahore for development of cotton and improvement in textile industry said in a meeting heldSecretary Energy Naeem Rauf, Patron APTMA Gohar Ejaz, President APTMA Hamid Zaman, Director General Agriculture (Extension) Dr Anjum Ali and other stakeholders were present. Speaking on the occasion, Shahu said that the Punjab government is committed to the revival of cotton and all resources are being used to achieve the cotton production target. The government has fixed the pre-sowing support price of cotton at Rs 8500 per head, which will benefit cotton farming. Apart from this, farmers will get a subsidy of Rs 1,000 per bag on the seeds of selected approved varieties for 0.6 lakh acres. In addition, subsidies worth billions of rupees are being given on phosphorus and potash fertilizers to reduce the production cost of farmers.He further said that this year production competitions are being organized among cotton farmers at provincial and district level, in which cash prizes worth lakhs of rupees are being given. He further said that the Irrigation Department is taking special measures to supply canal water to the cotton areas. Field workers are available to support the farmers for technical guidance. Teams of the Agriculture Department are working from village to village to promote the cotton crop.On this occasion, APTMA Patron Gauhar Ejaz welcomed the seed supply and subsidy for farming. He stressed on the use of IT to increase the area under cotton cultivation.There are reports of import queries of apparel from the United States and the European Union but there are also some problems due to the delay in agreement with the International Monetary Fund (IMF).
Local BRS leader of Telangana involved in fake business of cotton seedAdilabad: Local BRS leaders and their associates are allegedly involved in the spurious cotton seed trade running on a large scale in Bellampalli, Sirpur (T) and Asifabad assembly constituencies.It is said, "It has become a lucrative business for many politicians, even though it is illegal and farmers suffer huge losses every season."Those selling spurious cotton seeds are considered habitual offenders and the local police invoked the PD Act against 18 such men in the year 2020 and 2021.According to sources, 132 cases were registered in Mancherial district during 2019-2022 regarding spurious cotton seed and 324 people were booked.Komaram Bheem Asifabad district collector Hemant Bhorkade said he has constituted a task force comprising agriculture, revenue and police to control spurious cotton seeds brought into the district from the Maharashtra border.He said that they would involve Sarpanchs, MPTC and ZPTC and raid suspected shops and godowns to control spurious cotton seed business in the villages.Bhimini, Nennela, Kannepalli, Vemanpalli and Tandoor in Bellampalli constituency have become hot spots for sale of spurious cotton seeds. Mandals of Bejur, Penchikalpet, Chintalmanpalli and Kautala in Sirpur (T) constituency and Rebena, Wankidi, Jainur, Kerameri, Tiryani and Narnur in Asifabad assembly constituency.Deccan Chronicle has highlighted the illegal trade of spurious cotton seeds in the past, how it affected cotton farmers, losses due to lack of germination and low yield in a recently published report.Collector Hemant Bhorkade constituted a task force to keep a check on spurious cotton seeds entering Komaram Bheem Asfibad district from various routes from Maharashtra.There are strong allegations that local BRS leaders are involved in spurious cotton seed business with the support of the constituency level elected representatives in Belampalli assembly constituency.There is news in police circles that a senior elected representative of BRS encouraged his colleague from Janakpur in Nenela mandal to do business of spurious cotton seeds and offered him 10 lakhs to start the business in Belampalli area.The local police had arrested Ranjith Kumar, a former director of the Belampalli Market Committee, a few months ago for his involvement in the spurious seed business.It is alleged that the market committee president of the BRS party in Bellampalli assembly constituency was a key player in the spurious cotton seed business in Bhimini Mandal.An Andhra trader from Repallevada in Tandoor mandal is said to be doing business of spurious cotton seed on a large scale and he was continuing it even after cases were registered against him.Local police say that some farmers migrated from Andhra region by taking agricultural land on lease from local farmers, cultivated them and sold these spurious cotton seeds to local farmers.The local farmers, who had taken the land on lease, are getting their land's fertility low after a few seasons due to the sowing of spurious cotton seeds and the use of excessive fertilizers and pesticides by Andhra farmers.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/newsdetails/2328
Farmers urged to increase cotton productionLahore: District administration, agriculture department employees and farmers should work together to increase cotton production.These views were expressed by Captain Saqib Zafar (Retd), Additional Chief Secretary, South Punjab while presiding over the review meeting of the ongoing activities regarding Cotton Action Plan 2023-24.Secretary Agriculture, Punjab Iftikhar Ali Sahu, Secretary Agriculture South Punjab Saqib Ali Atil, Commissioner Bahawalpur Division. Dr. Ehtsham Anwar, RPO Bahawalpur Zone Rai Babar, Director and Deputy Director Bahawalpur, Bahawalnagar and Rahim Yar Khan, Deputy Commissioner, Chief Irrigation Engineer Khalid Bashir and other stakeholders participated.It was informed during the briefing that this year a target has been set for cotton cultivation in Bahawalpur division of 23.14 lakh acres, out of which 14.45 lakh acres have been cultivated so far, which is 62 percent of the total target.Agriculture Secretary, Punjab Iftikhar Ali Shahu said that cotton cultivation is going on and all the stakeholders should work hard to achieve cotton cultivation and per acre production. “We should work day and night for this cause. This will not only make our farmers prosperous but will also provide stability to the country's economy. The Punjab government is using all resources for technical guidance and support to the farmers.He further said that to make cotton farming profitable, its support price of Rs 8500 per head has been announced in a time bound manner and this compensation will be ensured. Apart from this, Rs 60 crore and Rs 500 crore are being given on certified seeds. 11 billion subsidy is being given on fertilizers. He directed the concerned officers to ensure strict monitoring of the quota of respective districts under track and trace system for distribution of fertilizers.
Rupee weakens by 7 paise against US dollarThis evening, the rupee closed at a level of 82.16 against the dollar with a weakness of 7 paise.Sensex closed up by 124 pointsToday the stock market closed with a boom.Today, where the Sensex closed at a level of 62027.90 points with a gain of about 123.38 points.On the other hand, the Nifty closed at a level of 18314.80 points with a gain of 17.80 points.
CAI lowers cotton crop forecast for 2022-23 season to 29.8 million balesThe Cotton Association of India (CAI) on Thursday cut its cotton crop forecast by 465,000 bales to 29.8 million bales for the 2022-23 season as production is expected to decline in Maharashtra, Telangana, Tamil Nadu and Odisha. The latest estimate of cotton crop is the lowest since 2008-09 season at 29.0 million bales.At the start of the season, the association had estimated cotton crop production at 34.4 million bales as against 30.7 million bales in the previous season. CAI's latest crop down revision is against its March estimate of 31.3 million bales.The reason for the continuous cut in the estimates is being attributed to lower cotton offtake due to change in weather patterns. “3-4 pickings of cotton were expected in states like Maharashtra, Gujarat, Madhya Pradesh and Telangana. However, only two selections have taken place so far, said a Mumbai-based industry expert, seeking anonymity.Besides this, it is also estimated that farmers are holding their produce in the hope of remunerative prices as in the previous year. Cotton prices have crossed ₹100,000 per candy (1 candy = 365 kg) in the 2021-22 season. Currently, cotton is trading in the range of Rs 59,000-62,000 per candy in key markets of Rajasthan, Maharashtra, Telangana and Andhra Pradesh and Rs 61,900 per candy on the Multi Commodity Exchange.Due to less attractive prices compared to last year, this year's arrivals have come down to 17.86 million bales so far in the current season that started October, as against 24.4 million bales during the same period last year.“Domestic ginners and spinners are working in face-to-face conditions as farmers are bringing less produce. This is the reason why the market is range bound. Prices are not going up or down," said Ajay Kedia, director of Kedia Commodities, a financial services firm on commodities.As far as the demand-supply dynamics are concerned, prices should move up amid reduction in cotton production. "Despite the decline, cotton prices in the domestic markets have not picked up due to sluggish demand amid fears of a slowdown," Kedia said. Cotton prices were maintained in the domestic market as well." Bangladesh is the largest buyer of Indian cotton.CAI has retained its cotton import forecast at 1.5 million bales as against 1.4 million bales recorded last year. According to CAI data, around 700,000 bales have arrived at Indian ports so far this year. On the other hand, exports are estimated to decline by 500,000 bales to 2 million bales in the 2022-23 (October-September) season.The estimated domestic cotton consumption for this season is around 31.1 million bales, as against 31.8 million bales last year. Total availability of cotton is estimated at 34.5 million bales, which includes opening stock of 3.2 million bales and imports of 1.5 million bales. However, this left an estimated production of 29.8 million bales. The carryover stock at the end of the season is estimated at 1.4 million bales.
Spot rate inactive on cotton marketLAHORE: The local cotton market remained steady on Thursday with low trading volume. Cotton analyst Naseem Usman said that the rate of cotton in Sindh is Rs 17,000 to Rs 20,000 per head.Cotton rates in Punjab range from Rs 18,000 to Rs 21,000 per head. The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.
CCI opens cotton procurement centersHubli: To protect cotton farmers and maximize access, Cotton Corporation of India Limited (CCI) has opened more than 400 cotton procurement centers in all 11 cotton-growing states, said its assistant general manager.A press note issued by CCI states that it is a central nodal. Government of India agency for cotton undertaking procurement work under Minimum Support Price (MSP). This MSP scheme provides an alternative marketing channel for cotton farmers to sell their FAQ-grade cotton at the MSP rates announced by the Central Government for the current cotton season 2022-23. Details of MSP prices, CCI network, nearest procurement center etc. are available on CCI website www.cotcorp.org.in or farmers can download mobile app 'Cott-Ally' for more details.Since the monsoon season is approaching in the first week of June, the level to safeguard cotton from damage by rains at any point of time, the procurement window for cotton under MSP will remain open till 20.05.2023 for the current operational cotton season 2022-23 . This will ensure completion of processing of cotton before the onset of monsoon.In case of any assistance farmers can contact CCI nearest branch.
Rupee opens 1 paise weak against dollarToday, the rupee opened at a level of Rs 82.10 against the dollar with a weakness of 1 paise.Today the stock market has started with weakness.The Sensex was trading around 61,857.69, down 46.83 points, or 0.08 per cent.The Nifty was trading around 18320 with a gain of 23.85 points i.e. 0.13 per cent.
India's cotton exports to hit 18 – year low as output dropsIndia's cotton exports are set to fall to their lowest level in 18 years in 2022/23 as production lagged behind domestic consumption for the second straight year, a leading trade body said on Thursday.Lower exports from the world's biggest producer could support global prices . It could also lift domestic prices and weigh on margins of local textile companies.Exports could fall to 2 million bales in the current marketing year ending on Sept. 30, the lowest since 2004/05 and well below 4.3 million bales last year, Cotton Association of India (CAI) said in a statement.Production could fall to 29.84 million bales, down from the previous estimate of 30.3 million bales, the CAI said.Local consumption could also ease by 2.2% from a year ago to 31.1 million bales, it said.The fall in local production could bring down cotton stocks at the end of 2022/23 marketing year to 1.4 million bales, the lowest in more than three decades, the trade body said.
Rupee Down by 10 paise against dollarThis evening, the rupee closed at a level of 82.09 against the dollar with a weakness of 10 paise.Sensex fell 36 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 61904.52 points with a fall of 35.68 points.On the other hand, the Nifty closed at a level of 18297.00 points with a decline of 18.10 points.
The effect of bad weather on farming, cotton sowing season will last longerThe cotton sowing season may last longer this year, but the cash crop acreage is expected to remain low. Reason: Farmers are worried about frequent changes in weather.So far, about 9,850 hectares of cotton are sown in Muktsar district. Normally the crop is sown by mid-May, but this year the weather is relatively cool and sowing will continue till the end of May.Last year the crop was sown in about 33,000 hectares. However, the target was to bring about 45,000 hectares under cotton cultivation. This year the agriculture department has set a target of 50 thousand hectares in Muktsar district. Teams are going door to door to promote cotton sowing.Some farmers say that the cost of harvesting cotton is too high and requires extensive human labour. “Most of the farmers are worried due to the weather. He has also expressed his concern to the officials and commission agents. Cotton crops will be sown, but mainly in areas where paddy cultivation is not recommended. The cotton crop area may be less this year,” claimed a farmer.On this, Muktsar Chief Agricultural Officer (CAO) Gurpreet Singh said, 'Due to the change in weather, cotton sowing will continue till the end of May this time. We have decided to bring 50,000 hectares under cotton cultivation in the district this year. So far, about 9,850 hectares have been sown and sowing is now at its peak.”
Rupee opens 4 paise stronger against dollarThe rupee opened higher by 4 paise at 81.95 against the US dollar as against Wednesday's closing price of 81.99.The market is trading with a slight gain in the early trade.The Sensex gained 30.61 points, ie 0.05 percent, to the level of 61970.81.But it is visible.On the other hand, the Nifty is showing a gain of 6.05 points i.e. 0.03 percent at the level of 18305.45.
LAHORE: The local cotton market remained steady on Wednesday with low trading volume. Cotton Analyst.Cotton analyst Naseem Usman told that the price of cotton in Sindh is between Rs 17,000 to Rs 20,000 per head. The cost of cotton in Punjab ranges from Rs 18,000 to Rs 21,000 per head.The rate of footi in Sindh ranges from Rs 5,500 to Rs 8,300 per 40 kg. The rate of footi in Punjab ranges from Rs 6,000 to Rs 8,500 per 40 kg.The spot rate remained unchanged at Rs 20,000 per head. Polyester fiber was available at Rs 375 per kg.
| title | Created At | Action |
|---|---|---|
| Cotton Market: Cotton prices are at low levels in Khandesh | 15-05-2023 19:15:52 | view |
| Agriculture: Revival of cotton needed to survive | 15-05-2023 18:41:49 | view |
| Sensex up 250 points, Nifty close to 18,400 | 15-05-2023 18:22:09 | view |
| Weekly Cotton Review: Prices remain steady amid weak business | 15-05-2023 17:38:27 | view |
| Local BRS leader of Telangana involved in fake business of cotton seed | 13-05-2023 18:03:06 | view |
| Farmers urged to increase cotton production | 13-05-2023 17:44:35 | view |
| Rupee weakens by 7 paise against US dollar | 12-05-2023 23:20:27 | view |
| CAI lowers cotton crop forecast for 2022-23 season to 29.8 million bales | 12-05-2023 20:54:34 | view |
| Spot rate inactive on cotton market | 12-05-2023 20:23:19 | view |
| CCI opens cotton procurement centers | 12-05-2023 19:49:27 | view |
| Rupee opens 1 paise weak against dollar | 12-05-2023 18:44:04 | view |
| India's cotton exports to hit 18 – year low as output drops | 11-05-2023 23:39:52 | view |
| Rupee Down by 10 paise against dollar | 11-05-2023 23:16:00 | view |
| The effect of bad weather on farming, cotton sowing season will last longer | 11-05-2023 18:50:17 | view |
| Rupee opens 4 paise stronger against dollars | 11-05-2023 18:37:59 | view |
| LAHORE: The local cotton market remained steady on Wednesday with low trading volume. Cotton Analyst. | 11-05-2023 17:43:24 | view |
