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Telangana urges CCI to continue cotton purchases to prevent price fallThe Minister for Agriculture in Telangana, Tummala Nageswara Rao, has urged the Cotton Corporation of India (CCI) to continue its cotton procurement in the state. This request comes as farmers still have a substantial quantity of cotton from the 2023-24 kharif season left in their possession.During this season, farmers cultivated cotton in 44.92 lakh acres, with an estimated production of 25.02 lakh tonnes. The CCI, in collaboration with the State government, established 285 cotton purchase centers, purchasing 12.31 lakh tonnes of cotton valued at ₹8,569.13 crore from over 5.36 lakh farmers at the minimum support price. Additionally, private traders acquired 4.97 lakh tonnes of cotton from farmers.There is an anticipated 7.1 lakh tonnes of additional cotton from farmers, with the third picking still in progress in some districts, and some quantity from the first and second pickings still held by farmers. Given the current high demand and prices of cotton in international markets, the Minister emphasized the importance of the CCI continuing its purchases.The Minister highlighted that discontinuing CCI purchases could have adverse effects on market prices for the fiber crop, leading to losses for the farming community. In cases where cotton arrivals have lesser quality, the Minister suggested that the CCI could determine the price based on availability, following established practices.

BSE Sensex opened with weakness todayToday BSE Sensex opened at 72594.77 points with a weakness of about 113.39 points. Whereas NSE's Nifty opened at the level of 22084.50 points with a weakness of 37.80 points. Today, trading started in a total of 2,539 companies on BSE.The rupee opened strongly against the dollar today.The rupee opened strongly against the dollar today. Today the rupee opened 2 paise stronger at Rs 83.00 against the dollar. At the same time, on Monday, the rupee closed at Rs 83.02 against the dollar without any movement.

This evening, the rupee closed at 83.02 against the dollar without any change.Nifty hits fresh high, Sensex ends 282 pts higherIndian benchmark indices ended Monday’s trade near highs. Sensex inched 281.52 points, or 0.39 per cent at 72,708.16 while Nifty closed 81.55 points, or 0.37 per cent higher at 22,122.25.

Centre proposes 5-year guaranteed procurement at MSP for 5 crops – cotton, maize, tur, urad and masurHowever, there is no commitment on a law sought by farmers that could even force private traders to buy at least at the benchmark rate, if not moreIn a bid to find a solution to the farmers’ agitation over the demand for legal enforcement of minimum support price (MSP), the Centre has proposed that it will buy cotton, maize, tur, urad and masur for five years directly from farmers at MSP without any quantitative limit. However, there is no commitment on a law which the farmers have been asking for and that could even force private traders to buy at least at the benchmark rate, if not more.Releasing a video message after the fourth round of talks, farmer leader Abhimanyu Kohar said the ministers have proposed that these five crops will be procured though Nafed, NCCF and Cotton Corporation and there will not be any cap. However, the government has sought more time to respond to the demands for debt waiver and implementation of land acquisition formula.“We have given them two more days to respond on these two demands and if there is nothing heard by February 21, we will resume the peaceful march to Delhi from the Punjab-Haryana borders,” Kohar said. He also appealed to farmers to join the two points of the Punjab-Haryana borders by February 21.Food and Commerce Minister Piyush Goyal, who was part of the ministerial panel holding discussions with the protesting farmer unions, said the farmer leaders have informed them that they would discuss the proposal in their forums over the next two days and take a decision. The proposal to buy the five crops will save Punjab’s farming, improve the groundwater table, and also save the land from getting barren.Kohar also said the decision with regard to the government’s proposal will be taken by the Samyukt Kisan Morcha (non-political) and the Kisan Mazdoor Sangharsh Committee. SKM (non-political) leader Jagjit Singh Dallewal said the government should not dilly-dally and accept the farmers’ demands before the Model Code of Conduct comes into force.The current proposal by the Centre is part of a scheme launched by Cooperation Minister Amit Shah in the first week of January, in which he opened a portal for registration of tur-growing farmers and announced that the assured purchase scheme would be extended to maize and all pulses (except chana and moong).Apart from Goyal, Agriculture Minister, Arjun Munda, and Minister of State for Home, Nityanand Rai, were also part of the team deputed by the Centre for the talks. Punjab Chief Minister Bhagwant Mann also attended the meeting, which began around 8.30 pm on Sunday and ended at around 1 am on Monday.Another farmer leader Sarwan Singh Pandher (of Kisan Mazdoor Sangharsh Committee) said: “We will discuss in our forums on February 19-20 and take the opinion of experts regarding the proposals and accordingly take a decision.”On the other hand, the SKM (another outfit not related to the current Delhi march agitation) on Sunday said it would gherao the residences of BJP leaders in Punjab for three days from Tuesday to press the Centre into accepting the demands. The SKM will not accept anything less than the C-2 plus 50 per cent formula for MSP, said SKM leader Balbir Singh Rajewal.Farmers have been demanding implementation of the Swaminathan Commission’s recommendation for fixing minimum support prices (MSPs) at 50 per cent over and above C2 costs of production, and a law to guarantee purchase of crops at MSP. Other demands include unconditional pension for farmers above 60 years of age, and farmers should be made completely debt-free.Source : business line

*Maharastra :Farmers’ agitation over cotton procurement price in Beed district Chhatrapati Sambhajinagar.*Chhatrapati Sambhajinagar: Two farmers from Beed district on Friday agitated outside the district collector’s office over the poor prices offered for cotton in the market.Shriram Korade and Parshuram Rathod, both farmers from Phulepimpalgaon village in Majalgaon tehsil, blocked the entrance of Deepa Mudhol-Munde’s office, threw cotton on the road and laid down outside the office gates to underline their grievances.The duo raised banners and demanded fair compensation for their work on the field.“I sowed cotton on nearly two acres of land, investing around Rs 35,000, only to yield 5.50 quintals of cotton. Now, with cotton being purchased at Rs 6200 per quintal, how are we expected to sustain ourselves and our families for the entire year?”Their demands include state govt to establish a robust policy framework that considers the true cost of cultivation, encompassing expenses on seeds, fertilizers, irrigation, and harvesting. They also implored authorities to plan a fair minimum support price.The district administration and state govt have already acknowledged that farmers in certain parts of the state were grappling with an unyielding harvest season due to a rainfall deficit.

The rupee strengthened by 2 paise to close at Rs 83.02 against the dollar this evening.Today, the Sensex closed at 72426.64 points with a gain of around 376.26 points. At the same time Nifty closed at the level of 22040.70 points with an increase of 129.90 points.

India's cotton exports to hit 2-year high in February as discounts woo buyersIndia's cotton exports are set to hit the highest level in two years in February as a rise in global prices has made Indian cotton attractive to Asian buyers who previously bought the fiber from Brazil and the United States. , the traders said.Even before benchmark US cotton futures hit a 17-month high this month, India, the world's second-largest cotton producer, was struggling to export the fiber. But, five traders said that after a sharp rise in global prices, buyers have started turning to India.In February, Indian traders signed contracts to export 400,000 bales (68,000 metric tons) of cotton — the most since February 2022 — mainly to China, Bangladesh and Vietnam, he said."Indian cotton is now very competitive. It is the cheapest in the world and exports are increasing," Atul Ganatra, president of the Cotton Association of India, told PTI.He said India could export 2 million bales by September 30 in the 2023/24 marketing year, up from the previous expectation of 1.4 million bales.But some traders believe exports could rise to 25 lakh bales, as Indian cotton is 6 to 7 cents a pound cheaper than supplies from the United States, the world's biggest exporter.If Indian cotton continues to trade at a discount to the global benchmark, traders are expected to export 300,000 bales in March, said a New Delhi-based dealer of a global trading house.Aggressive Chinese buying has pushed up US cotton prices in the past two months and now Beijing is buying from India, a Mumbai-based trader said."China has purchased about 300,000 bales for shipment in February and March," the trader said.Currently, India has the advantage of lower prices and lower freight costs compared to supplies from the United States and Brazil due to its proximity to importing countries, said Vinay Kotak, director of Mumbai-based Kotak Ginning and Pressing Industries Pvt Ltd. Ltd.Kotak said that despite strong demand, India's exports will remain limited by limited surplus as local production is expected to decline this year.The country's cotton production could fall 7.7% from a year earlier to 29.41 million bales in 2023/24, the lowest since 2007/08, according to the Cotton Association of India.ndia's cotton exports to hit 2-year high in February as discounts woo buyersIndia's cotton exports are set to hit the highest level in two years in February as a rise in global prices has made Indian cotton attractive to Asian buyers who previously bought the fiber from Brazil and the United States. , the traders said.Even before benchmark US cotton futures hit a 17-month high this month, India, the world's second-largest cotton producer, was struggling to export the fiber. But, five traders said that after a sharp rise in global prices, buyers have started turning to India.In February, Indian traders signed contracts to export 400,000 bales (68,000 metric tons) of cotton — the most since February 2022 — mainly to China, Bangladesh and Vietnam, he said."Indian cotton is now very competitive. It is the cheapest in the world and exports are increasing," Atul Ganatra, president of the Cotton Association of India, told PTI.He said India could export 2 million bales by September 30 in the 2023/24 marketing year, up from the previous expectation of 1.4 million bales.But some traders believe exports could rise to 25 lakh bales, as Indian cotton is 6 to 7 cents a pound cheaper than supplies from the United States, the world's biggest exporter.If Indian cotton continues to trade at a discount to the global benchmark, traders are expected to export 300,000 bales in March, said a New Delhi-based dealer of a global trading house.Aggressive Chinese buying has pushed up US cotton prices in the past two months and now Beijing is buying from India, a Mumbai-based trader said."China has purchased about 300,000 bales for shipment in February and March," the trader said.Currently, India has the advantage of lower prices and lower freight costs compared to supplies from the United States and Brazil due to its proximity to importing countries, said Vinay Kotak, director of Mumbai-based Kotak Ginning and Pressing Industries Pvt Ltd. Ltd.Kotak said that despite strong demand, India's exports will remain limited by limited surplus as local production is expected to decline this year.The country's cotton production could fall 7.7% from a year earlier to 29.41 million bales in 2023/24, the lowest since 2007/08, according to the Cotton Association of India.ndia's cotton exports to hit 2-year high in February as discounts woo buyersIndia's cotton exports are set to hit the highest level in two years in February as a rise in global prices has made Indian cotton attractive to Asian buyers who previously bought the fiber from Brazil and the United States. , the traders said.Even before benchmark US cotton futures hit a 17-month high this month, India, the world's second-largest cotton producer, was struggling to export the fiber. But, five traders said that after a sharp rise in global prices, buyers have started turning to India.In February, Indian traders signed contracts to export 400,000 bales (68,000 metric tons) of cotton — the most since February 2022 — mainly to China, Bangladesh and Vietnam, he said."Indian cotton is now very competitive. It is the cheapest in the world and exports are increasing," Atul Ganatra, president of the Cotton Association of India, told PTI.He said India could export 2 million bales by September 30 in the 2023/24 marketing year, up from the previous expectation of 1.4 million bales.But some traders believe exports could rise to 25 lakh bales, as Indian cotton is 6 to 7 cents a pound cheaper than supplies from the United States, the world's biggest exporter.If Indian cotton continues to trade at a discount to the global benchmark, traders are expected to export 300,000 bales in March, said a New Delhi-based dealer of a global trading house.Aggressive Chinese buying has pushed up US cotton prices in the past two months and now Beijing is buying from India, a Mumbai-based trader said."China has purchased about 300,000 bales for shipment in February and March," the trader said.Currently, India has the advantage of lower prices and lower freight costs compared to supplies from the United States and Brazil due to its proximity to importing countries, said Vinay Kotak, director of Mumbai-based Kotak Ginning and Pressing Industries Pvt Ltd. Ltd.Kotak said that despite strong demand, India's exports will remain limited by limited surplus as local production is expected to decline this year.The country's cotton production could fall 7.7% from a year earlier to 29.41 million bales in 2023/24, the lowest since 2007/08, according to the Cotton Association of India.

The rupee opened strongly against the dollar today.  The rupee opened strongly against the dollar today. Today, the rupee opened with a strengthening of 1 paise at Rs 83.03 against the dollar. At the same time, on Thursday, the rupee closed at Rs 83.04 against the dollar with a weakness of 1 paise.Today BSE Sensex opened strongly.Today, BSE Sensex opened at 72361.02 points with a gain of about 310.64 points. Whereas NSE's Nifty opened at the level of 22012.80 points with a gain of 102.00 points. A total of 2,074 companies started trading on BSE today.

This evening, the rupee closed at Rs 83.04 with a weakness of 1 paise against the dollar.Today Sensex closed at 72050.38 points with a gain of about 227.55 points. Whereas Nifty closed at the level of 21910.80 points with a gain of 70.80 points.

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.