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Vidarbha Maharashtra: Clash between farmers and traders over cotton price issueNagpur News: While the guaranteed price of cotton is Rs 7020, it is being bought at a lower price due to lack of quality. Meanwhile, the government has warned of action against those buying below the guaranteed price and there have been clashes between farmers and cotton growers in several districts of Vidarbha. Due to this, a farmer in Wardha district set fire to the cotton kept in his vehicle. In Rajura (Chandrapur) and Deoli (Wardha) committees too, two groups were at loggerheads over cotton purchase.In the last season, the situation was persistent, followed by post-monsoon rains. Bollworm also reduced the quality of cotton. Therefore, at present the price of such cotton is available in the market between Rs 6000 to Rs 6800. There is dissatisfaction among farmers due to purchasing at prices lower than the guaranteed price.Due to this, conflicts are being seen between farmers and traders in many shopping centers and market committees of Vidarbha. The farmer from Rotha (Wardha) loaded cotton in his small vehicle and went to the CCI center at Umri. This time his cotton was rejected saying that there was no record on seven-twelve. Angered by this, some farmers set fire to the cotton kept in the vehicle, which created a stir.In this, the state government has warned of action against those who do not buy cotton with guarantee in the background of growing dissatisfaction. Describing this decision as unfair, the traders of Deoli (Wardha) market committee stopped shopping for two days. The question of traders is that when there is no copy of cotton then how will they buy cotton with guarantee.

Telangana : Crisis hits cotton farmers in AdilabadCotton produce-laden tractors, vans and jeeps and other carriers have been forming a long queue on Nizamabad-Jagdalpur national highway near Chennur town for three days nowAdilabad: Cotton farmers, who were already reeling under a crisis due to a decline in prices, continue to wait for a long time to sell their produce at agriculture market yards and ginning mills across the erstwhile Adilabad district.Cotton produce-laden tractors, vans and jeeps and other carriers have been forming a long queue on Nizamabad-Jagdalpur national highway near Chennur town for three days now. Farmers from not only this region, but other parts of erstwhile Adilabad district are left with no option but to wait for at least two days to dispose of their produce.Cotton farmers staged a dharna at a ginning mill in Asifabad demanding the traders were not buying the produce on Tuesday night. They regretted that they were bearing additional charge for the vehicles hired for a day if they had to wait for extra time. They lamented that they were unable to make profits in growing the cotton.Some of the growers who are in dire need of money are forced to sell the produce to private traders at lower prices, incurring losses. They alleged that the traders levy a tax of 1.5 percent on the value of the cotton for instantly paying the cost. They urged officials to take steps to prevent the fleecing by monitoring the trading. Farmers said that they were selling the produce containing 10 percent of moisture to the traders for Rs 6,500 as against the minimum support price of Rs 7,020 fixed by the Cotton Corporation of India.They alleged that some traders were operating more centres than one authorised by the corporation by bribing officials. They accused the officials of not inspecting the ginning mills.Adilabad Marketing department assistant director T Srinivas said that steps were being taken to speed up the procurement of the cotton in 25 centres across erstwhile Adilabad district. He stated that 18 lakh metric tonnes of the cotton was already purchased out of the expected yield of 24 lakh metric tonnes. The procurement process reached final stage, he added.The assistant director further said that stringent action would be taken against the traders who fleece the growers if brought to notice. He advised the farmers to local secretaries of the department to report grievances. He clarified that the traders were not permitted to impose any tax against the growers citing instant payment or any other reason.The authorities of the marketing department said that the cost of the cotton produce would be directly credited to accounts of the farmers within four-five days if details of the bank account were correct.

Today the rupee opened 3 paise stronger at Rs 83.00 against the dollar.The rupee opened strongly against the dollar today. At the same time, on Wednesday, the rupee closed at Rs 83.03 against the dollar with a weakness of 3 paise.Today the Sensex opened at the level of 71992.53 points with a gain of about 169.70 points. Whereas NSE's Nifty opened at 21890.30 points with a gain of 50.30 points. Today, trading started in a total of 2,669 companies on BSE.

The rupee closed at a level of 83.03 against the dollar this evening, weakening by 3 paise.The stock market recovered from a heavy fall, with the Sensex closing up by 268 points.This morning, the stock market opened with a heavy fall, and later the fall in the Sensex exceeded 500 points. But in the end, the Sensex closed at a level of 71,822.83 points, up by approximately 267.64 points. Meanwhile, the Nifty closed up by 96.70 points at a level of 21,840.00 points.

"Guarantee on MSP" issue hinders farmers-Centre talks.As farmers from Punjab and Haryana set out on their scheduled Delhi march today, the demand for guaranteed minimum support price (MSP) has emerged as the primary sticking point between the farming community and the government.While farmer leaders see the demand for enacting an MSP law as a relatively minor request to ensure that all produce is procured at the Swaminathan formula of C2+50 per cent, the government sees it as a major challenge, with Considerable financial allocation, infrastructure is required. Policy and other guarantees to protect the interests of consumers.The government currently fixes MSP for 22 crops with corresponding annual adjustments for eight Rabi crops and 14 Kharif season crops. However, farmers argue that the absence of legislation leaves them vulnerable to selling their produce at lower prices to private traders, raising questions over the effectiveness of the government's MSP policy.Agriculture and food policy expert Devinder Sharma emphasizes that guaranteed MSP is a solution to address the multi-faceted challenges faced by farmers. They argue that the implementation of such a guarantee, which requires an annual allocation of about Rs 2 lakh crore (additional), is crucial for the welfare of the 50 per cent of the country's population dependent on agriculture.“Farmers are not demanding the government to purchase all crops at MSP, they just want a law to ensure that the produce is not purchased below the MSP set by the government, which is the only reason for the agricultural crisis in the country. " He added.Arjun Munda stressed the need for wide consultation with stakeholders and states, stressing the need for a structured discussion to find solutions.“We need to see what kind of law we have to bring and what are the advantages and disadvantages of such a law,” he said while urging the protesting farmer groups to have a structured discussion with the government on the issue. Allow elements to take over their opposition for political gain.

Cotton demand from US textile mills drops to lowest since 1885American mills are on track to process the least cotton this year since 1885. According to an updated US Department of Agriculture forecast released Monday, US textile mills will feed just 1.74 million bales of cotton into their machines in the 2023-2024 marketing year that ends in July, the slowest rate in 139 years. That’s nearly 15 per cent less than last year and even lower than the agency’s prior forecast.These factories, which turn cotton fibres into yarn and fabric, are among the last bastions of the country’s textile industry after decades of rising competition from cheaper overseas production and synthetic materials. Mill use made a brief recovery in the 1990s, when trade deals encouraged the US to export yarn and fabric to be turned into clothes in other countries before being sent back and sold.US mill use has “just disappeared,” said Peter Egli, the director of risk management at Plexus Cotton Ltd. Factories in other countries “just operated at much better margins than producing in the US.”

Today, the rupee opened at Rs 83.10 with a weakness of 10 paise against the dollarThe rupee opened today with weakness against the dollar. At the same time, on Tuesday, the rupee closed at the level of 83.00 rupees against the dollarSensex (BSE Sensex) and Nifty 50 ((Nifty 50) are down sharply. Sensex is currently at 70989.57 and Nifty at 21579.10.

The rupee settled flat at 83 against the US dollar on TuesdayAs the support from a rally in domestic equities was negated by a strong greenback overseas and rising crude oil prices.Sensex closed 482 higherSensex closed at 71,555.19, up 482.70 points or 0.68 per cent and Nifty closed at 21,743.30, up 127.30 points or 0.59 per cent. About 1284 shares advanced, 1994 shares declined and 62 shares remained unchanged.

Today the rupee opened 2 paise stronger at Rs 82.98 against the dollar.Today BSE Sensex opened at 71153.43 points with a gain of about 80.94 points. Whereas NSE's Nifty opened with a gain of 11.70 points at the level of 21627.70 points. A total of 2,784 companies started trading on BSE today.

This evening, the rupee strengthened by 4 paise and closed at Rs 83.00 against the dollar.Today Sensex fell by about 523.00 points and closed at the level of 71072.49 points. Whereas Nifty closed at the level of 21616.00 points with a fall of 166.50 points.

Cotton Gains As 2023/24 Cotton Ending Stocks Are Lower This MonthCotton prices showed resilience in yesterday's trading session, settling up by 0.62% at 58680. The positive momentum can be attributed to the latest U.S. cotton balance sheet for the 2023/24 season, which reported lower ending stocks, higher exports, and stable production. The export forecast was raised to 12.3 million bales, reflecting a robust pace of shipments and sales, contributing to reduced ending stocks estimated at 2.8 million bales, representing 20% of total disappearance. Internationally, the cotton market witnessed adjustments in ending stocks and production estimates. World ending stocks decreased by nearly 700,000 bales due to lower beginning stocks and production, while consumption remained steady, albeit with variations across countries.Notably, China's imports saw a significant increase, offsetting reductions in other major importing nations like India, Pakistan, Thailand, and Turkey. The USDA's weekly sales report indicated a surge in net sales and exports for the 2023/2024 season, driven by strong demand from China and Vietnam, with exports consistently exceeding 200,000 bales in recent reports. Additionally, the Cotton Association of India (CAI) maintained estimates for domestic consumption and production for the 2023-24 season, reflecting stability in the Indian cotton market. Reports of declining infestation of pink bollworm in cotton crops across the country also provided a positive outlook for production. In the spot market, prices in Rajkot ended slightly lower at 26826.35 Rupees, reflecting minor fluctuations in local trading.From a technical perspective, the market is experiencing fresh buying, with an increase in open interest by 6.12% and prices up by 360 rupees. Support levels for Cotton candy are identified at 57980 and 57290, with resistance expected at 59080 and potential further upside testing 59490.