Recent News

Indian Rupee Climbs 23 Paisa, Ends at 86.88 Against US DollarThe Indian rupee on friday higher 23 paise to close at 86.88 per dollar, while it had opened at 87.11 in the morning.At close, the Sensex was down 7.51 points or 0.01 percent at 74,332.58, and the Nifty was up 7.80 points or 0.03 percent at 22,552.50. About 2431 shares advanced, 1400 shares declined, and 120 shares unchanged.read more :-Insurance claim to Haryana cotton farmers was Rs 281 crore, but govt, firm reduced it to Rs 80 crore

Haryana Cotton Farmers' Insurance Claim Slashed from Rs 281 Crore to Rs 80 Crore by Govt and CompanyAn alleged "fraud" by way of denying the insurance claims of cotton farmers in Bhiwani and Charkhi Dadri districts during the Kharif 2023 season had been brought to the attention of the government by some farmer activists.The activists, who submitted a complaint to the state government, alleged that the farmers had been assessed a total insurance claim of Rs 281.5 crore in Bhiwani district on the basis of the Crop Cutting Experiment (CCE).However, the insurance firm later approached higher authorities to challenge the insurance amount, which referred the matter to the State Technical Advisory Committee (STAC).The STAC took a decision to approve technical yield assessment for cotton crop insurance claims.Based on this technical assessment, the insurance claim was reduced to just Rs 80 crore.More shockingly, the activists alleged that this STAC was a defunct body when it called a meeting and took the decision. Dr Ram Kanwar, a farmer activist, alleged that the matter of insurance claims was referred to the STAC, an advisory body whose term had expired on August 1, 2024.However, the Director of Agriculture, Rajnarayan Kaushik, and the Joint Director (Statistics), Rajiv Misra, allegedly convened a meeting of this defunct committee on August 20, 2024, and took a decision to approve technical yield assessment for cotton crop insurance claims.Thus, he alleged, the body was not authorised to take any decision after its term had expired on August 1, 2024.Kanwar said that the matter regarding the settlement of cotton crop insurance claims under the Pradhan Mantri Fasal Bima Yojana (PMFBY) for Kharif 2023 for two districts - Bhiwani and Charkhi Dadri districts has taken serious connotations with the denial of about Rs 200 crore of claims of the farmers in the wake of a decision taken by a redundant body.They have submitted the complaint to the chief minister for action against the officials responsible for the alleged fraud with the farmers and to ensure the insurance claims of the farmers.Dayanand Punia, a farmer activist in Siwani tehsil of Bhiwani district, informed that as per the CCE, 34 villages in Siwani block were set to get insurance claims for cotton loss, but the technical assessment showed that about 20 villages had no insurance claim.Punia said that they would not tolerate this injustice regarding the crop insurance of their cotton fields for the year 2023."Despite having insured their crops, the Agriculture Department conducted village-wise crop cutting surveys and determined the per-acre compensation for each village. However, the insurance company, in collusion with the government, rejected the department's report," he alleged.Punia further alleged that the insurance firm claimed that satellite reports did not show any significant crop damage and termed it a scam."We will stage a demonstration at the Siwani office in SDM Office on March 10," he said.Kanwar said that as per government guidelines, the claims should be settled based on Crop Cutting Experiments (CCEs) conducted by state officials. However, the company allegedly refused to honor these claims and instead pushed for an alternative method—technical yield assessment—which is only permitted for wheat and paddy, not for cotton.The complaint further states that the District Level Monitoring Committee (DLMC) of Bhiwani, headed by the Deputy Commissioner, had also rejected the objections raised by the insurance company and directed it to release payments within seven days. "Instead of complying with the DMLC, the insurance firm challenged the decision before the Director of Agriculture and Farmers' Welfare," he stated. The Director, Agriculture Rajnarayan Kaushik, however, did not respond to the calls and messages for his version.read more :- Vidarbha farmers demand HTBt cotton seeds to improve yield

To increase production, farmers in Vidarbha want HTBt cotton seeds.Nagpur : Farmers from across Vidarbha, especially Yavatmal, have urged the govt to make available the latest Herbicide-Tolerant BT cotton (HTBt) seeds to improve the crop yield in the coming season. The farmers claimed that over the years, pests have evolved and are now immune to the Bt cotton variety and pose a major threat to the crops.The farmers were speaking at a gathering organised by the National Farmers Empowerment Initiative on Thursday. Addressing the media, a group of cotton farmers of Vidarbha put forth the demand, saying that the pink bollworm, a major threat to cotton crop, has become resistant to the Cry1Ac toxin produced by the Bt cotton."Bt cotton has been a huge help to us for many years now, but we need the latest research and innovations in terms of cotton seeds," Ganesh Nanote, a cotton farmer from Akola, said. Nanote said that other cotton-producing countries, like the USA, Brazil and Australia have already adopted the HTBt cotton, and Indian farmers too deserve the same opportunity.Farmer leader Milind Damble said that Yavatmal's soil has a high limestone content, which makes agriculture a difficult task. "A majority of farmer suicides are caused because the ryots are not able to produce enough yield," he said.Damble further highlighted the water scarcity in the district saying that in the winter months, they receive water only two to three days a month. "The situation eases up a little during the monsoon, from June when we get water 15 - 17 days," he said. "Due to the evolved bollworm, we have to spray pesticides on our crops, and it takes 10 men to tend to just one hectare of land," he said. Damble added that if HTBt cotton is introduced, then the requirement of labour per hectare will fall to just two.Vidya Warhade, a farmer, said that while cotton is their main crop, they also grow vegetables and other crops to supplement farm income. "The current yield of cotton is not enough for us to sustain. We need to implement measures that will help us increase cotton yield," she said.Another farmer from Yavatmal, Prakash Puppalwar, said that cotton is a global commodity and has high export potential. "For us to stand ahead or at least be at par with the other competitors across the globe, the govt must take some progressive steps," he said.The farmers have demanded that the policymakers interact with them directly to better understand the grassroots level issues rather than relying on third parties for the same.read more :-Rupee Holds Steady at 87.11 vs Dollar

Rupee Remains Stable at 87.11 Against US DollarIndian rupee opened at 87.11 per dollar on Friday against previous close of 87.11.read more :-Indian garments, textiles, yarn may see demand boost as US cotton prices dip amid China’s retaliatory tariffs

As US cotton prices decline due to China's retaliatory tariffs, demand for Indian clothing, textiles, and yarn may increase.The US cotton market’s decline as a result of China’s retaliatory tariffs may increase demand for Indian clothing, yarn, and textile exports.The industry anticipates that India will gain market share in the US and Europe as a result of the retaliatory tariff, which will decrease the competitiveness of Chinese textile exports and boost the availability of superior quality US cotton at lower prices.After China applied retaliatory tariffs of 10–15 per cent, US cotton prices dropped to their lowest levels in four years. With a 31 per cent global market share for its less expensive cotton, India leads the world in the export of cotton yarn.Trade estimates indicate that a decline in domestic production caused India’s imports of cotton to rise by more than 62 per cent in 2024–25 compared to the previous year.The majority of the cotton that India imports from the US falls into the extra-long staple (ELS) category. According to Siddhartha Rajagopal, executive director of the Cotton Textile Export Promotion Council (Texprocil), Indian textile manufacturers may find it financially feasible to increase their imports of US cotton if US cotton prices fall as a result of decreased demand from China.Despite being largely self-sufficient in cotton production, India imports certain ELS cotton and clean and contamination-free cotton to satisfy buyer or quality standards.  India purchased US $ 570 million worth of raw cotton from throughout the world between April 2023 and March 2024, with US $ 221 million coming from the US, accounting for 38.7 per cent of the total imports, according to industry data.The US, with its better Extra Long Staple Cotton (ELS), would also try to diversify its cotton exports and turn towards India as a major trading partner because of the limited access in the Chinese market, Rajagopal stated.The tariffs are expected to affect Chinese textile products’ ability to compete in global markets, giving Indian exporters a chance to increase their market share, particularly in countries like the US and the EU.The demand for Indian cotton yarn, textiles, and clothing may increase as a result of this change, boosting export levels.  According to Rajagopal, exporters would have more alternatives for pricing as the market for Indian cotton products expands, which will boost their profit margins.read more :-Rupee closed 22 Paise lower at 87.11 Against US Dollar

Indian Rupee lower 22 Paise to87.11 Against US DollarThe Indian rupee on thursday lower 22 paise to close at 87.11 per dollar, while it opened at 86.89 in the morning.At close, the Sensex was up 609.86 points or 0.83 percent at 74,340.09, and the Nifty was up 207.40 points or 0.93 percent at 22,544.70. About 2857 shares advanced, 979 shares declined, and 104 shares unchanged.read more :- Int’l recognition to HAU scientists for finding cotton disease pathotype

HAU Scientists Earn International Recognition for Discovering Cotton Disease PathotypeHisar: Scientists from Chaudhary Charan Singh Haryana Agricultural University (HAU), Hisar, have identified a new pathotype of a severe disease that impacts the cotton crop.HAU vice-chancellor Prof B R Kamboj said on Wednesday that this is the first time that the pathotype (VCG 0111, Race-1) of fusarium wilt has been detected in India.He said scientists had already initiated efforts to manage the disease and remain optimistic about finding an effective solution to it.The discovery has received recognition from Elsevier, a Dutch publishing house specialising in scientific, technical, and medical research. An HAU study on the pathotype has been published in the journal Physiological and Molecular Plant Pathology, making it the first-ever report on this new cotton pathotype.prof Kamboj lauded the research team for the achievement, emphasising the importance of early identification of emerging agricultural threats. He urged scientists to maintain strict monitoring of the disease's spread and implement swift, effective management practices to mitigate its impact on cotton production.HAU director of research Rajbir Garg highlighted the growing menace posed by fusarium wilt, which now affects both ‘desi' and American cotton varieties with increased aggression.Lead researcher Anil Kumar Saini stressed the team's ongoing efforts to decode the disease's outbreak and develop targeted mitigation measures, safeguarding India's cotton industry.read more :-Rupee opens 7 paise up at 86.89 against US dollar

Indian Rupee Gains 7 Paise, Opens at 86.89 Against USDThe Indian rupee on thursday opened 7 paise higher at 86.89 against the US dollar, as against the close at 86.96 on wednesday.Indian rupee opened 7 paise up on March 6 due to sharp reduction in the dollar index and Brent crude oil prices.read more :-Indian Rupee higher 27 Paisa, Ends at 86.96 per Dollar

Indian Rupee Strengthens by 27 Paisa, Closes at 86.96 per DollarThe Indian rupee on wednesday higher 27 paise to close at 86.96 per dollar, while it opened at 87.23 in the morning.At close, the Sensex was up 740.30 points or 1.01 percent at 73,730.23, and the Nifty was up 254.65 points or 1.15 percent at 22,337.30. About 3116 shares advanced, 734 shares declined, and 85 shares unchanged.read more :-Reciprocal US tariffs against India, China, other nations from Apr 2

US to Impose Reciprocal Tariffs on India, China, and Other Nations Starting April 2US retaliatory tariffs would kick in from April 2 against nations charging higher duties on American exports, President Donald Trump announced yesterday. These nations include China and India.In his address to the joint session of Congress, Trump called tariffs charged by India and other countries, including China, ‘very unfair’.Trump said he wants to impose the same tariff on imports from foreign countries as those nations impose on US exports."Other countries have used tariffs against us for decades and now it's our turn to start using them against those other countries. On average, the European Union, China, Brazil, India, Mexico and Canada—have you heard of them—and countless other nations charge us tremendously higher tariffs than we charge them. It's very unfair," Trump said Tuesday night in the longest address to the Joint Session of the Congress."India charges us auto tariffs higher than 100 per cent…..China's average tariff on our products is twice... and South Korea's average tariff is four times higher. Think of that, four times higher. And we give so much help militarily and in so many other ways to South Korea. But that's what happens. This is happening by friend and foe. This system is not fair to the United States. It never was," he was quoted as saying by global media reports.His administration would also retaliate to non-monetary tariffs with ‘non-monetary barriers’, Trump said."They don't even allow us in their market. We will take in trillions and trillions of dollars that create jobs like we have never seen before. I did it with China, and I did it with others, and the Biden administration couldn't do anything about it because there was so much money, they couldn't do anything about it," he said."We have been ripped off for decades by nearly every country on Earth, and we will not let that happen any longer," he added.Higher tariffs on Indian exports like textiles would make these products more expensive in the United States, reducing demand, which may hurt Indian manufacturers and exporters and raise prices for American consumers.The announcements came after the United States decided to impose 25-per cent tariffs on its neighbouring countries and two of its biggest trade partners, Mexico and Canada.The United States also doubled tariffs on Chinese goods from 10 per cent to 20 per cent, citing lack of action from China on its alleged role in fentanyl production and exports.read more :-Cotton News: Big upheaval in cotton prices in March! What do experts predict?

March Cotton Market Shock: Experts Predict Major Price Volatility!Cotton News :- There has been a big stir in the cotton market in early March. At present, the arrival of cotton in the market is slow and the Cotton Corporation of India (CCI) has purchased a total of 94 lakh bales of cotton so far. However, there has not been much positive impact on cotton prices and the current price is still below the minimum support price.Cotton prices are under pressure due to the continuous slowdown in the international market and stable demand in the domestic market. According to experts, there is little chance of any major improvement in cotton prices in March as well. Even though the country's total cotton production has declined, the country's cotton industry is also being affected by the low prices of cotton and yarn in the international market.Currently, cotton prices are falling continuously in the international market. By noon, this rate fell by about 3 percent to 63 cents per pound. Due to this, American farmers are also trapped in the economic crisis, which is indirectly affecting the Indian cotton farmers.Due to low prices, cotton imports are being boosted in the country, so there is no major bullish trend in the local market. According to experts' estimates, cotton prices are likely to fluctuate between Rs 100 and Rs 200 in March, but there is little chance of a stable and big increase.The cotton season has now completed five months and so far 21.6 million bales have arrived across the country. The country's estimated total production is 30.1 million bales, out of which about 72 percent of cotton has already been sold by farmers. Now only 28 percent of cotton arrivals are left.Due to a sharp decline in cotton production this year, farmers were likely not to get the expected price. However, due to the slowdown in the global market and low demand, prices have not increased much. Arrivals in the market are gradually decreasing, but there is pressure on prices.Cotton market price situation in MarchUsually, a decrease in cotton arrivals is seen in the month of March, which leads to improvement in prices. However, this year the situation is different. Currently, the average price of cotton in markets across the country is Rs 7,000 to Rs 7,300 per quintal. On an average, 90,000 to 1 lakh bales are arriving per day. Arrivals are likely to fall further in March, but it is not yet certain whether this will have a positive impact on price rise.Cotton purchases made by CCI so farThe Cotton Corporation of India (CCI) has so far procured 94 lakh bales of cotton, of which 28 lakh bales have been purchased from Maharashtra alone. However, due to lack of expected demand from the industrial sector, CCI has had to buy about 43 per cent of the country's total cotton imports. Cotton prices have improved somewhat in the last three weeks, but there have been some obstacles in CCI's procurement process.Therefore, CCI's purchases have slowed down in the last few days, which has benefited the open market. Therefore, farmers are now preferring to sell cotton in the open market. However, there are no signs that cotton prices will increase significantly in March, so farmers need to be cautious in their selling decisions.read more :-Rupee opens 4 paise up at 87.23 against US dollar