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‘Temporary ban on cotton exports likely’Cotton prices have touched ₹90,000 per candy. Prices of some  varieties of have  touched ₹100,000 per candyThe Union government may impose a temporary ban on cotton exports if cotton prices continue to surge, textiles secretary Upendra Prasad Singh told Mint. The statement comes at a time when the Indian textile Industry is reeling under a spike in cotton and yarn prices, impacting production and exports.Cotton prices have doubled in barely a year to over ₹90,000 per candy. Prices of some varieties of cotton have even touched ₹100,000 per candy. A ban could free up cotton for the domestic market and thus help soften prices.High cotton prices affect the Indian textile industry disproportionately, as it is heavily dependent on cotton, unlike other markets where man-made fibre occupies a larger share.Singh said cotton prices are unlikely to decline before October when the new cotton crops arrive. Cotton prices have been a “dampener" and the problem could persist for some time as there is a global shortage of cotton, Singh said.The statement comes a week after the government waived customs duties on imported cotton until September. Earlier, cotton imports were effectively taxed at 11%. “Cotton prices haven’t softened as we expected them to. It is not rising too, it’s stagnant at a point. We are evaluating the further course of action and temporarily banning export or imposing quantitative restrictions to check prices is an option," Singh said.“However, policy decisions should not be uncertain or a knee-jerk reaction and these are extreme steps -- but if there is a need we will do it," he added.The price surge can be traced back to the US ban on the import of cotton products from China’s Xinjiang region, experts said. Textile manufacturers said many of them have had to cut production because of rising input costs. While customers have borne rising prices “to a certain point", garment manufacturers apprehend resistance going forward.Manufacturers said the import duty exemption would have been more beneficial if cotton were immediately available after placing an import order. But it takes nearly three months to get the cotton from the date of placing the order and exemption has been given only until September.

Market opened with decline, Nifty below 17100Today the stock market opened with a fall. The stock market started with a fall on the third trading day of the week amid weak global cues.

All India Weather Forecast for April 27, 2022Weather systems made across the countryA cyclonic circulation lies over Southeast Madhya Pradesh and adjoining parts of Chhattisgarh at low levels.A trough is extending from the cyclonic circulation over Southeast Madhya Pradesh up to Interior Karnataka passing through Vidarbha and Marathwada.A North South Trough is extending from Sikkim to West Bengal.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain occurred over parts of Interior Karnataka and Andhra Pradesh.Thunderstorm accompanied with dust storm, thundershower occurred in many parts of western and northern parts of Rajasthan, Haryana, Delhi NCR and western Uttar Pradesh.Light rain occurred over Coastal Karnataka, Jammu and Kashmir, Sikkim, Arunachal Pradesh, parts of Assam and one or two parts of South Chhattisgarh and Kerala.Heat wave conditions were observed over one or two parts of Gujarat, Bihar and West Bengal.Probable weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain is possible over parts of Assam, Arunachal Pradesh, Kerala and Karnataka.Light rain is possible over Northeast India, Sikkim, Andaman and Nicobar Islands and one or two parts of South Chhattisgarh, Andhra Pradesh and Western Himalayas.Heat wave conditions are possible over one or two parts of Gujarat, Vidarbha, Odisha, Coastal Andhra Pradesh, West Bengal, Rajasthan, Madhya Maharashtra, Bihar, Jharkhand, South Haryana, Delhi and South Uttar Pradesh

Sensex jumped 776 points on Tuesday to reach the level of 57,356.Rupee strengthens against dollar, gains 11 paise to close at 76.58.Gold shines brightly, till the writing of the news, the price reached Rs 51,680, up by Rs 287.Confusion in the cotton physical market, there was a drop in prices in the morning, then a slight increaseThe market remained stable withMalaysia palm oil rose, 108 ringgit increased to 7080 ringgit.

Big announcement of Haryana government, those sowing indigenous cotton will get a benefit of Rs 3 thousand per acreAfter increasing the target of sowing cotton, now the Haryana government has made another big announcement for the cotton farmers. The Agriculture and Farmers Welfare Department of the state is making constant efforts to increase the area under indigenous cotton. Under this, the state government has decided to provide financial assistance to the farmers sowing indigenous cotton. Under this decision, the Haryana government will provide assistance of Rs 3,000 per acre to the farmers sowing indigenous cotton. Registration required for assistanceTo get this assistance amount being given by the government, it is mandatory for the farmers to register. Registration will have to be done between 25 April to 31 May. Farmers can register themselves by visiting the portal “Meri Fasal Mera Byora” https://agriharyana.gov.in/. After registration, the physical verification of the information given by the farmers will be done and after that the amount will be provided to them. Sowing target of 19.25 lakh acres in 2022Like Punjab and Orissa, the cotton market in Haryana is also expected to increase. According to experts, selling cotton at twice the MSP is attracting farmers to cotton. The Haryana government has set a cotton sowing target of 19.25 lakh acres for the Kharif season 2022. In the last season, cotton was cultivated in 15.90 lakh acres of land here. In Haryana, cotton is grown mainly in Fatehabad, Hisar, Sirsa, Jind, Bhiwani, Faridabad, Rewari, Sonipat, Palwal Gurugram, Jhajjar, Panipat, Charkhi Dadri, Rohtag, Mewar and Narnaul districts. Complete arrangement of seedsFor the cultivation of cotton, mainly 3 types of seeds are used by farmers in Haryana namely Narma, Bt cotton and indigenous cotton seeds. The Agriculture Department has arranged more than 60 lakh packets of Bt cotton seeds if the farmers face any problem in increasing the cotton farming area. Such number of seeds is sufficient for the requirement here. At the same time, sufficient number of seeds are also available for different varieties of indigenous cotton like HD-107, 324, 123 and 432. Preparation for the management of pink caterpillarFor the last several years, pink larva disease is causing damage to the crops of North India. In 2021, the cotton crop was devastated to a great extent by Kois disease. That is why this time a lot of work is being done on the prevention of this disease. The Department of Agriculture and Farmers Welfare is conducting continuous programs to educate the farmers in the cotton growing districts. And for this reason, this time the government is giving more emphasis on cultivating indigenous cotton. 

Today evening, the rupee strengthened by 11 paise to close at Rs 76.58 against the dollar.Today the stock market closed sharply.Today, where the Sensex rose by about 776.72 points, closed at the level of 57356.61 points. On the other hand, Nifty closed at the level of 17200.80 with a gain of 246.80 points.  

Rupee strengthens by 22 paise against dollarRupee opened strongly against the dollar in the foreign exchange market today. Today the rupee opened with a gain of 22 paise at Rs 76.47 against the dollar. At the same time, on Monday, the rupee closed at Rs 76.69 with a weakness of 21 paise against the dollar. Sensex rises further, opens up 565 pointsToday the stock market opened with great momentum. Today the BSE Sensex fell by about 565.30 points and opened at the level of 57145.19 points. On the other hand, the Nifty of NSE opened with a fall of 172.80 points at the level of 17126.80 points.

The stock market rallied on the first day of the trading week, falling 617.26 points to 56,579.89. The rupee depreciated again, falling by 21 paise to 76.69 against the dollar. Gold also faded, falling by Rs 511 to Rs 51,750 by the time of writing. Cotton prices fell by Rs 500 to Rs 1000 in all mandis on Monday. Indonesia changed its palm oil export policy, causing a decline in the Malaysian market. 21 ringgitThe price fell to 6604.

Gujarat ready to become hub of spinning industry, preparing for investment of 3500 crores in one and a half yearGujarat has become such a state of our country where there is immense business potential. For the textile industry, there is nothing better than Gujarat. The quality of cotton of Gujarat is better than other states, which is why the demand for yarn here is also high. Due to high demand, many spinning mills here have made preparations for capacity expansion. Keeping this in view, it is planned to add at least 7 to 10 lakh new spindles in the coming one and a half to two years. According to the estimates of the Gujarat Spinners Association, an investment of Rs 3500 crore is to be made here in the coming year and a half. This information was given by Saurin Parikh, President of SAG Spinning Association Gujarat. He was speaking as an organizer in an event in the textile industry.Government is ready to helpRecently GCCI Textile Leadership Conclave 2022 was organized in Ahmedabad. The conclave was attended by almost all industry experts from ginning to textile manufacturers including officials of 27 associations from different states. Union Minister of State for Textiles Darshana Jardosh attended the event as the chief guest. He said that the government is ready to extend all possible help to the textile industry. Whatever demand is there from your government, tell us, we will try our best to fulfill it.10 new spinning mills to be startedIt was told on the occasion that last year spinners all over Gujarat have made a lot of profit due to good export and domestic use. At present there are 110 spinning mills in the state. Whose capacity is 45 lakh spindles. 10 new spinning mills are likely to be commissioned in the coming year. With cotton prices rising, there is a lot of enthusiasm among yarn manufacturers to earn margins. This is the reason why more than 7 lakh spindles are being added in the coming 18 to 24 months.

The rupee declined by 21 paise to close at Rs 76.69 against thedollar this evening.Today the stock market closed with a fall.Today, where the Sensex closed at a level of 56579.89, down 617.26 points. On the other hand, Nifty closed at the level of 16954.00 points down by 218.00 points  

The US Department of Agriculture (USDA) has estimated the cotton production in Bangladesh as 1,55,000 bales  in year 2022-23 which is an increase of 2.6% , than in year 2021-22.Harvested area of cotton is calculated as 46,000 hectares for the current year which is a rise of 2.2% than year 2021-22.In cotton year 2021, Bangladesh readymade garment (RMG) came up as the second largest exporter with a record of $35.81 billion.USDA also estimates the import of cotton for the year 2022-23, as 8.9 million bales, which is up by 7.2% over the year 2021-22, consequently because of high demands of yarn and fabrics at RMG industry.