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The rupee appreciated by 1 paisa against the dollar this evening, closing at Rs 83.55At the end of the trading session, the Sensex rose 384.30 points or 0.45 per cent to close at 84,928.61 and the Nifty rose 148.05 points or 0.57 per cent to close at 25,939.Read More :-  India begins monsoon retreat with excess rain

India begins monsoon retreat with surplus rainThis year's monsoon in India began retreating from the northwest about a week later than usual, the India Meteorological Department (IMD) said in a statement.India's annual monsoon rainfall provides about 70% of the water needed for agriculture and to fill reservoirs and hydroponics, the mainstay of the nearly $3.5 trillion economy. Without irrigation, about half of India's agricultural land depends on monsoon rains, which typically last from June to September.The monsoon normally begins in June and begins retreating by September 17, but this year the rains continued, filling reservoirs but damaging crops in some states that were ready to be harvested.Reuters reported in August that monsoon rains this year could extend until late September due to the development of a low-pressure area.According to the IMD, monsoon rainfall so far this season has been 5.5% above average.The IMD said conditions are favourable for further withdrawal of monsoon from west Rajasthan and parts of Punjab, Haryana and Gujarat during the next 24 hours.

In early trade, the rupee climbs 6 paise to 83.46 against the US dollar.The rupee entered its third week of rally and appreciated 6 paise to 83.46 against the US dollar in early trade on Monday, tracking positive momentum in domestic equity markets amid a massive inflow of foreign funds.Read More :> Cotton season likely to get prolonged due to continuous rains in Maharashtra

Maharashtra's ongoing rains are expected to extend the cotton seasonEvery year, farmers used to get the required money by selling their first cotton crop during Dussehra and Diwali. However, this year, due to continuous rains, the process of formation and blooming of cotton bolls is getting delayed, due to which the cotton season is likely to get prolonged. According to experts from the Central Cotton Research Institute, this delay can have a significant impact on the cotton crop this year.Cotton is mainly grown on drip irrigation system in Jalgaon and Khandesh region, due to which farmers sow cotton before the monsoon, in the month of May. Usually, this crop is harvested during Dussehra and Diwali, which helps farmers to raise the required money for the festivals. This year too, the cotton crop is on the verge of ripening, but the boll blooming is being hampered due to rain.Vivek Shah, an expert from the Central Cotton Research Institute, recently inspected Jalgaon district, in which he observed that 40 to 45 pods were present on the cotton plants, but only two to three of them had bloomed. Due to continuous rains, the crop did not get enough sunlight, which has adversely affected the bolls.Given this situation, experts believe that this year the cotton season may be extended for a few weeks. This has also reduced the possibility of large arrivals of cotton in the mandis during Dussehra and Diwali, which may affect the farmer and the market.Read More :- Maharashtra Cotton Association Aurangabad Conference

PRESENTATION THOUGHTS & KEY TAKEAWAYS FROM SANCHIT RAJPAL JIGlobal consumption must rise, or some countries need to reduce cotton production.With China's macro-economic situation slowing down and demand weakening, can Bangladesh, Pakistan, and India step in to replace China in global imports? As per some estimates there can be a reduction of 25% in demand from China.India must reform its MSP policy-continuously raising MSP while maintaining the import duty will cripple the spinning industry.The world has moved on to 7th Generation of BT seeds but we are still on the 3rd generation. Given the significant depletion of our closing stocks, an increased cotton supply will be essential in coming days.Even with 11% duty on Imports we have seen a good imports in last few months? If ICE futures remain range bound and with CCI in procurement can we see more imports happening?It's crucial for our industry to take serious steps in gathering accurate crop data, including production and consumption. In these challenging times, having precise data will help us stay prepared for any unexpected situations.Read More :-  Cotton season likely to get prolonged due to continuous rains in Maharashtra

Maharashtra Cotton Association's Conference at AurangabadKey Insights from Chief Guest Lalit Gupta at the Cotton ConferenceLalit Gupta ji expressed pleasure at being invited as the chief guest at the conference, noting the high registration and distinguished attendees. He stated that the conference outcomes will provide a clear picture of the upcoming season and aid in understanding pricing mechanisms.He emphasized the importance of digital technology for ginners, farmers, seed crushers, and millers to stay updated on current market scenarios. Gupta announced that farmers' accounts are now linked to Aadhaar, facilitating direct payments with a tracking system available in 11 languages.It was decided that no procurement will take place after sunset. An online ginning tender system has been implemented, ensuring timely payments and effective storage management. Gupta confirmed that no deductions will be made for weights up to 165 kg per bale, down from the previous 170 kg. This year, CCI has successfully procured around 33 lakh bales using QR codes for online sales to traders and millers.Read  More :-  Maharashtra Cotton Association Aurangabad Conference Highlights

Highlights of the Maharashtra Cotton Association Aurangabad ConferenceMr. Shri Bhupendrasingh Rajpal, President of the Maharashtra Cotton Association, urged farmers and ginners to focus on Kasturi brand cotton to secure profits of ₹1,000-1,500 per candy. He emphasized the need for mandatory data submission from ginners and millers to improve crop estimates, with penalties for non-compliance.He called for a hedging system akin to those in China and Brazil to ensure business sustainability and congratulated Gujarat farmers for producing high-quality cotton that commands substantial premiums. This season, a trash percentage standard of 3.5% has been established, with deductions for higher levels.Rajpal also announced the formation of the Marathwada Cotton Association, alongside existing associations in Vidarbha and Khandesh. While current cotton crop conditions are good, he noted that a 5% reduction in sowing could significantly impact yields. Cotton associations continue to support the textile industry by maintaining a ₹2 per unit electricity subsidy.Additionally, the Bureau of Indian Standards (BIS) decision is on hold for another two years, and fertilizer bags have been made colorful to prevent contamination.Read More :- Bumper arrival of cotton in MP on the fifth day of Muhurta, rate increased by ₹ 200, farmers happy

Cotton arrived in MP in bumper crop form on the fifth day of Muhurta, with a tariff hike of ₹ 200, making farmers pleasedKhargone: The A-category cotton market in Khargone, Madhya Pradesh has been witnessing a steady increase in the arrival of cotton since the Muhurta. On Friday, on the fifth day of the auction, 7,300 quintals of cotton arrived, which was 2,300 quintals more than Thursday. Khargone district is the largest cotton producer in the state and the cotton here is famous in the country and abroad as 'white gold'.Every year cotton is cultivated in about 2.25 lakh hectares, and along with the district, farmers from Barwani, Khandwa, Dhar also come here to sell their produce.Cotton pricesAccording to market sources, on Friday, farmers arrived in the market with their produce in 54 bullock carts and 556 vehicles. Good quality cotton was sold up to ₹ 7,415 per quintal, while the minimum price was ₹ 4,000. The average price was recorded at ₹6,150 per quintal.Arrival of maize and soybeanMaize, wheat and soybean also arrived well at Krishi Upaj Mandi located at Bistan Road:1. Maize: Minimum price ₹1,550 and maximum ₹2,252 per quintal, average ₹1,630 per quintal.2. Wheat: Minimum ₹2,530 and maximum ₹2,760 per quintal, average price ₹2,630 per quintal.3. Soybean: Minimum ₹3,800 and maximum ₹4,346 per quintal, average price ₹4,160 per quintal.Overall, there is a happy atmosphere among the farmers due to the arrival of cotton and other crops.Read More :-  Low Cotton Sowing in Kharif Season Could Impact India’s Textile Export Targets Amid Production Decline

The rupee strengthened 12 paise against the dollar to settle at Rs 83.56 this eveningToday (September 20) was a very eventful day in the Indian stock market. Both equity indices Sensex and Nifty closed at record highs on the last day of the trading session. The BSE Sensex closed at 84,574, up 1389 points. While the NSE Nifty closed at 25,818, up 403 points.Read More :- Low Cotton Sowing in Kharif Season Could Impact India’s Textile Export Targets Amid Production Decline

India's Textile Export Targets May Be Affected by Low Cotton Sowing During the Kharif Season Due to Production DeclineThe reduction in cotton sowing during the current kharif season is raising concerns about India's ability to meet its ambitious textile export goals. This comes at a time when Indian readymade garment (RMG) exporters were hoping to capitalize on the ongoing crisis in Bangladesh, according to industry sources.As of September 13, cotton sowing had declined to 11.24 million hectares, compared to 12.36 million hectares during the same period last year, as per agriculture ministry data. This drop adds to the challenges already faced by Indian cotton production in recent years“Production has been contracting, and this year’s low sowing levels are expected to further reduce cotton bale output,” an industry insider said. It is hoped that sowing might reach 11.6 million hectares, with additional contributions from summer sowing in Tamil Nadu, Telangana, and Karnataka.Impact on ExportsThe dip in cotton production could impact India’s textile exports, which have already been on a downward trend. After peaking at $41.12 billion in FY22, textile exports fell to $35.55 billion in FY23 and further to $34.40 billion in FY24. With reduced cotton sowing, achieving the government's export target of over $40 billion by FY25 will be challenging.India’s cotton production, which reached 36 million bales in FY20, has been declining, with current estimates for FY24 at 32 million bales.Shift to Other CropsMany cotton farmers are switching to alternative crops like soybean and paddy due to outdated seed technology and high labor costs. “Cotton cultivation requires more resources and effort compared to other crops like soybeans, making it less attractive to farmers,” said Ganesh Nanote, a cotton farmer in Maharashtra.Growing Export GoalsIndia’s textile and apparel industry is projected to grow at 10% CAGR, reaching $350 billion by 2030. The country also aims to scale up textile exports to $100 billion by 2030. However, low cotton sowing and rising cotton prices could pose a significant risk to this ambition.India's textile sector contributes 2.3% to GDP and 12% to exports, and the government has increased its budget allocation for the sector to ₹4,417.09 crore for FY25 to support growth.However, challenges like a 10% import duty on cotton fibre and rising raw material costs could undermine India's export competitiveness, according to industry experts like Mihir Parekh from the Foundation for Economic Development (FED).Read More :-  Dip in Sowing Area and Rain Concerns Push Cotton Prices Up in Gujarat

In early trade, the rupee advances 4 paise to 83.61 against the US dollar. This comes after the rupee strengthened by 10 paise to hit its two-month high level of 83.66 against the US dollar on Thursday after the US Federal Reserve cut the benchmark interest rateRead More :> Dip in Sowing Area and Rain Concerns Push Cotton Prices Up in Gujarat