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Farmers in Karaikal Feel Relieved as Cotton Prices RiseKaraikal farmers have found relief as cotton prices have improved, surpassing the minimum support price (MSP) at the regulated market on the first day of auction. This forced private traders to increase their prices as well.In recent weeks, cotton prices had fallen below ₹50 per kilogram in the open market in Karaikal. However, on Saturday, the weekly cotton auction began at the Agriculture Department’s Regulated Market in the town, and the price of cotton rose to ₹68 per kilogram, compared to the MSP of ₹66 per kilogram. As a result, private traders offered ₹62 per kilogram on Sunday in the district.Approximately 85 quintals of cotton were brought to the Regulated Market by farmers. The maximum price reached ₹7,190 per quintal, with a minimum of ₹6,289 and an average of ₹6,739 per quintal, according to J. Senthil, Secretary of the Karaikal Marketing Committee.Mr. Senthil credited the presence of mill representatives from Tamil Nadu for the good rates farmers received. "We have learned that private local traders have now increased their prices. We urge farmers to take advantage of the weekly Saturday auctions," he added.N. Palaniraja, a farmer from Melaoduthurai village, expressed satisfaction with the outcome. "Earlier, traders offered only ₹45 to ₹52 per kilogram. We waited to sell our produce through the regulated market and are happy with the good price we received. Farmers are often cheated by middlemen, so we appreciate the Regulated Market’s efforts in organizing the auction," he said.Read more  :- Cotton Area Shortfall Poses Challenge for Textile Industry

TASMA Requests CCI Not to Provide Traders with CottonThe Tamil Nadu Spinning Mills Association (TASMA) has appealed to the Cotton Corporation of India (CCI) to avoid selling unsold cotton stocks to traders. In a letter to CCI, TASMA President A.P. Appukutti highlighted the recent positive revival in the spinning sector due to the influx of garment orders. "Spinning mills are experiencing a resurgence, and their normal activities are picking up again. This resurgence means they will require more cotton," Appukutti stated.Appukutti emphasized the importance of CCI retaining its cotton stocks, expressing confidence that TASMA members will lift the stocks by the end of August. He warned that selling cotton to traders could lead to a cascading effect on the value chain. Traders, driven by profit motives, might escalate costs, which would adversely affect the spinning mills.By ensuring that the cotton stocks remain with CCI and are available to the mills, TASMA believes it can prevent a raw material shortage. This approach is seen as essential for maintaining the steady supply needed to support the ongoing revival in the spinning sector. The association's request underscores the need for strategic management of cotton stocks to safeguard the interests of the spinning mills and ensure the stability of the textile industry.Read More :> India's monsoon advances, set to bring relief from heatwave

Rupee against dollar opens at 83.46.At the interbank foreign exchange market, the local unit opened at 83.46 and gained further to trade at 83.44 against the greenback in initial deals, registering an increase of 3 paise from its previous closing level.READ MORE :> Cotton Area Shortfall Poses Challenge for Textile Industry

This evening, the rupee gained 7 paise against the US dollar to settle at 83.46.At the close of trading, the BSE Sensex rose 131.18 points or 0.17% to close at 77,341.08. The NSE's 50-share index Nifty rose 36.75 points or 0.16% to close at 23,537.85.Read more :- Cotton Area Shortfall Poses Challenge for Textile Industry

Lack of Cotton Creates Problems for Textile IndustryThe agriculture sector is facing a significant challenge as cotton cultivation fell short of the target by 21 percent, potentially impacting the textile industry and rural livelihoods. Cotton is a crucial crop for the country, contributing significantly to exports and providing income for many, including laborers in the textile industry and poor women in rural areas who rely on cotton picking.Official sources indicate that North Punjab missed its cotton target by 26.8 percent, with the Sargodha and Faisalabad divisions achieving 71 and 87 percent of their respective goals. South Punjab, a major cotton hub, also fell short by 21 percent, with the Multan, DG Khan, and Bahawalpur divisions reaching 73, 61, and 87 percent of their targets, respectively.The textile sector, which is vital to the economy, may face challenges due to the reduced cotton supply. This sector supports millions of jobs and contributes significantly to exports.Addressing this shortfall collaboratively can help mitigate potential impacts. Secretary of Agriculture for South Punjab, Saqib Ateel, stated that climate change played a major role in the shortfall. He added that adverse weather conditions affected the wheat harvest, delaying the availability of fields for timely cotton sowing.Read more :- India's monsoon advances, set to bring relief from heatwave

This evening, the rupee gained 12 paise against the US dollar, closing at 83.53.At the close of trading, the BSE Sensex fell 269.03 points or 0.35% to close at 77,209.90. The NSE's 50-share index Nifty fell 65.90 points or 0.28% to close at 23,501.10.Read more :- Telangana Cotton Farmers Await Crucial Showers

In early trade, the rupee advances 1 paisa to 83.60 against the US dollar. The Indian rupee declined to a record low against the US dollar on Thursday weighed down by broader strength in the greenback amid demand from local importers.Rupee fell to its all-time low of 83.62 against the US dollar. The local currency had closed at 83.4550 in the previous sessionREAD MORE :> India's monsoon advances, set to bring relief from heatwave

India's monsoon is expected to relieve the heatwave.India's monsoon is advancing after stalling for more than a week and rains are set to cover central parts of the country in the next few days, bringing relief from the heatwave in the grain-growing northern plains, two senior weather officials said.Summer rains, critical for economic growth in Asia's third-largest economy, usually begin in the south around June 1 before spreading nationwide by July 8, allowing farmers to plant crops such as rice, cotton, soybeans, and sugarcane."Monsoon is reviving. It was stuck after covering most of Maharashtra, but by the weekend, it will enter Madhya Pradesh," an official of the India Meteorological Department (IMD) told Reuters."Western and southern regions will receive heavy rains from the next week. Central parts would also start getting rains," added the official, who spoke on condition of anonymity because they were not authorised to speak to the media.The monsoon arrived nearly two days ahead of schedule in the western state of Maharashtra, home to the commercial capital of Mumbai, but its progress in central and eastern states of the country stalled for nearly a week.The lifeblood of the nearly $3.5-trillion economy, the monsoon brings nearly 70% of the rain India needs to water farms and refill reservoirs and aquifers.In the absence of irrigation, nearly half the farmland in the world's second-biggest producer of rice, wheat and sugar depends on the annual rains that usually run from June to September.The monsoon is expected to advance swiftly from next week and bring down temperatures in northern India, another weather official said.The heatwave in northern states will ease by the weekend, he said.The maximum temperature in India's northern states ranges between 42 degrees Celsius and 46 degrees C (108 degrees Fahrenheit to 115 degrees F) this week, which is nearly 3 degrees C to 5 degrees C above normal, the IMD data showed.India has received 18% less rainfall than normal since the season began on June 1, the IMD says.Read more :- Telangana Cotton Farmers Await Crucial Showers

This evening, the rupee ended the day 19 paise weaker against the US dollar, at 83.65.At the close of trading, the BSE Sensex rose 141.34 points or 0.18% to close at 77,478.93. The NSE's 50-share index Nifty rose 51 points or 0.22% to close at 23,567.00.Read more :-Monsoon at a Standstill Since June 12, Stalled Movement Delays Kharif Crop Sowing

Cotton Growers in Telangana Anticipate Vital ShowersCotton farmers in Telangana are anxiously awaiting fresh showers to save their crops, even as the State government expects cotton acreage to reach 28.30 lakh hectares this year.Although rains have arrived, they have been unevenly distributed, impacting crop survival. Farmers have engaged in large-scale sowing, but only about 70% of seeds have survived, with some farmers resorting to irrigation for support.Despite receiving 85.3 mm of rainfall against a normal of 78.5 mm, 11 out of 32 districts reported deficit rainfall. As of June 19, cotton has been sown on 6.31 lakh hectares and paddy on 11,000 hectares.Agricultural Minister Tummala Nageswara Rao anticipates 70 lakh acres for cotton and 20.23 lakh hectares for paddy. However, excessive focus on these crops may impact horticulture and vegetable production.A senior agricultural scientist noted that sowing is only 70% complete and that further delays in rain could necessitate re-sowing. Paddy farmers are opting for short-duration varieties, allowing for a later sowing window.Read more :- Monsoon at a Standstill Since June 12, Stalled Movement Delays Kharif Crop Sowing

The monsoon season is dead. Stalled Movement Has Been Delaying Kharif Crop Sowing Since June 12 The monsoon, which arrived early in Kerala and the North-East, has been almost at a standstill since June 12, covering roughly 40% of India’s geographical area in the first 14 days. This prolonged pause has exacerbated the heat wave and delayed kharif crop sowing in north and north-west India.Despite this, the India Meteorological Department (IMD) remains optimistic about good rainfall from July to September due to the upcoming La Nina formation, though it has downgraded June rainfall expectations to 'below normal.' La Nina conditions, associated with cooling ocean temperatures, typically bring good monsoon rainfall to India.Climate scientist Madhavan Rajeevan notes that monsoon pauses are common but acknowledges the current one is longer than usual, potentially influenced by intra-seasonal activity and the Madden Julian Oscillation (MJO). He expects the monsoon to revive in the last week of June, projecting an overall normal monsoon.The delay in monsoon impacts farming operations, especially for water-intensive paddy, reducing the gap between kharif harvest and rabi sowing. This may increase stubble burning in north-west India, contributing to air pollution in Delhi-NCR during winter. The agriculture ministry recommends the direct seeded rice (DSR) method to save time, though traditional methods remain prevalent.READ MORE :> Sharper MSP hikes for pulses, oil seeds; paddy support price up just 5.4%