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Rupee opens 8 paise stronger against dollarToday, the rupee opened at a level of 82.04 against the dollar with a strength of 8 paise. On the other hand, on Tuesday, the rupee closed at a level of Rs 82.12 against the dollar with a weakness of 14 paise.

India to set anti-dumping duty on linen yarn from China The DGTR of India's Ministry of Commerce has initiated an investigation to review the need for continuation of anti-dumping duty on flax, known as linen yarn, imported from China. In fact, the current charges are due to expire on October 17, 2023. It is important to note that the lea count, which is a unit to measure the length of a yarn, is below 70 for flax yarn imported from China.The investigation will determine whether anti-dumping duty should be imposed on flax yarn on imports from China and ensure fair trade practices between the two countries. The probe comes following complaints from the domestic industry and an application by Grasim Industries Ltd and Syntex Industries to initiate a sunset review of the anti-dumping duty.Linen yarn is used to make linen fabric, which is used in apparel and home textiles. The purpose of the duty is to ensure fair trade practices and create a level-playing field for domestic producers in relation to foreign producers and exporters.As per the DGTR notification, there is prima facie evidence of dumping of the product from China despite the existing anti-dumping duties. Consequently, the DGTR will review the need for continuation of duties and examine whether cessation of existing duties is likely to lead to continuation or recurrence of dumping and impact on the domestic industry.

Cotton will be cultivated on 4 million acres in Punjab, MSP fixed at 8,500/40 KG, subsidy of one thousand rupeesCotton cultivation is going to be huge this marketing year as 4 million acres of land is being used for cotton cultivation in Punjab. 8,500 / 40KG support price and a subsidy of Rs.1,000. A spokesperson says for best results use fertile land and approved Bt varieties.On Monday, an agriculture spokesman said that about 40 lakh acres of land is being used for cotton cultivation in Punjab. He also directed the farmers to sow approved and registered varieties to get better production results.Those who sow these varieties will get subsidyHe also said that the government has announced Rs. The support price of cotton is 8500/40 kg. He added to his statement that subsidies worth billions are already available to encourage cotton production. Initially the subsidy was given to the farmers sowing the following varieties of cotton – Nibge-11, BS-15, CKC-1, CIM-663, FH-490, CKC-3, MNH-1020, IUB-2013, Niab -1048, Niab-878, Niab-545 and Niab-Kiran.Benefits will be available on first come first serve basisRupee. 1,000 per bag subsidy is available for a maximum area of five acres and can be availed on first come first serve basis. Farmers have to extract the voucher from the seed bag and text its secret number along with their CNIC numbers to 8070. In his statement, the spokesman said that farmers should use fertile land and Bt varieties approved by the local agriculture authorities based on the availability of water and nature of the soil.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Kamjor-mukable-dollor-rupya-bajar-closing-nifty

Rupee weakens by 14 paise against dollarThis evening, the rupee closed at a level of 82.13 against the dollar with a weakness of 14 paise.Today the stock market closed with a boom.Today, where the Sensex closed at a level of 60157.72 points with a gain of about 311.21 points.On the other hand, the Nifty closed at a level of 17722.30 points with a gain of 98.30 points.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Effect-mixed-exports-gujrat-recession-global-amid-despite-growing-gcci

Mixed effect in Gujarat's exports amid global recessionDespite the growing recessionary trend, India managed to see a boom in exports. Major industries in Gujarat experienced mixed fortunes as textiles and chemicals experienced a downturn while the pharmaceutical and engineering sectors saw growth. A look at the important points related to exports-• Gujarat Chamber of Commerce and Industry (GCCI) President Pathik Patwari said, “India's total exports are expected to reach $760 billion (about Rs 62.2 lakh crore) for the financial year 2022-23.• IT, ITES, Artificial Intelligence, Machine Learning etc. are emerging as important export contributors.• Exports from traditional sectors such as textiles and chemicals have declined sharply due to global factors. The government needs to encourage production to make it more competitive in global markets.• In the first quarter of 2022-23, Indian cotton prices touched an all-time high of Rs 1.1 lakh per candy, impacting the entire value chain.• According to the Confederation of Indian Textile Industry (CITI), India's textile exports are set to decline by 23.57% between April 2022 and February 2023.• Indian cotton prices have come down to around Rs 60,000 per candy level, yet Indian cotton is expensive for international markets. Gujarat's garment manufacturers cannot compete with their counterparts in China, Vietnam and Bangladesh.versionOur exports have declined in the financial year due to high cotton prices and low demand. Demand from Europe and the US remains markedly lower. We may register growth in FY 2023-24,”Rahul Shah, Co-Chair, GCCI Textile Taskforce“The textile industry has invested heavily in export oriented plants, but it needs government incentives. The quality of Indian textiles is improving and there are huge opportunities. However, the government should ensure timely incentives for the industry.P R Kankaria, Chairman, Kankaria Textile Industries Pvt Ltd👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Ngo-buy-400-tonnes-organic-cotton-Andhra-farmers-international-produce-hectares-export

NGO to buy 400 tonnes of organic cotton from Andhra farmersOrganic cotton accounts for only 1-2 per cent of the 12.5 million hectares under natural fiber in India. An NGO working with tribal farmers in north-coastal Andhra Pradesh has brought together around 3,000 tribal farmers to procure 400 tonnes of organic cotton in the 2022-23 kharif season.“We have taken it to international brands in the US, Germany and the UK,” said Anil Kumar Ambavaram, chief executive officer of the NGO. Farmers have earned at least ₹500-600 more on fiber per quintal (market price Rs.7,200-7,500)". Starting small with 42 farmers in three villages, the Raddi (radical disruption) initiative has spread to 140 villages At least half of them sold the produce to other buyers. They just don't grow. They grow many types of crops. The NGO has branded their produce as Radis Cotton, which is finding international buyers.  Encouraged by the good results, the NGO plans to expand the program to more villages. “We plan to explore export opportunities in Australia, France and Denmark”, he added.Reddy, who grows cotton on 25 acres in Karavanga village in Nagarkurnool district, says, “I am saving Rs.80 for every Rs.100 spent by other farmers by following natural farming methods. Besides, I am getting ₹1,000-1,500 more for every quintal of organic cotton I sell”. Inspired by Subhash Palekar's zero budget farming, Reddy grows several other crops such as chillies, paddy and pulses using natural farming techniques. They have recently signed a 10 ton deal for their organic cotton with a specialty textile company based in Hyderabad. “I have produced 20 tonnes of cotton this year. I sold the remaining half in the open market.GV Ramanjaneyulu, chief executive officer of the Center for Sustainable Agriculture, said organic cotton cultivation, which showed promise a few years ago, has not taken off well for a number of reasons. Apart from declining interest among farmers, the issue of contamination (natural crops affected by transgenic crops) poses a serious challenge Availability of seeds, varieties by Central Institute of Cotton Research (CICR) and All India Coordinated Research Project (AICRP) 2017-21 At least 64 non-GM (non-Bt) cotton varieties and hybrids were released during 2015 that can be adopted by organic cotton growers. Farmers are also given a package of breeder seeds and practices for organic cotton production.global rankingDespite the constraints, India accounts for half of the global production of 2.5 million tonnes of organic cotton. Madhya Pradesh tops among states with 38 per cent of the country's 8.11 lakh tonnes of organic cotton produced in 2020-21. Orissa is at 20 per cent.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Rainfall-average-imd-dgm-mmohapatra-expected-country-el-nino-farmers

Rainfall expected to be 96% (+-5%) of the country's average: M Mohapatra, IMD DGMIMD DGM M Mohapatra said there is a 67% chance of normal to above normal rainfall during June-September. He said that some areas of northwest India, some parts of west-central India, some areas of northeast India are likely to receive less than normal rainfall.El Nino effect during the second halfM Mohapatra says that at present the El Nino conditions have become neutral over the Pacific region El Nino conditions are likely to develop during the monsoon season. IMD DGM M Mohapatra said that the El Nino effect could be felt during the second half of the monsoon. Not all El Niño years are bad monsoon years. About 40% of El Niño years in the past were years with normal or above-normal monsoon rainfall, he said.Farmers should believeEl Nino may affect the second half of the monsoon in July. He said that Indian Ocean Dipole conditions are favorable for Indian summer monsoon rainfall. Farmers should believe IMD's official forecast on rains: IMD DGM M Mohapatra said that normal rains are expected in Karnataka, Jammu and Kashmir. He said that by the end of May, the IMD will issue an updated forecast on monsoon.

Rupee weakens by 9 paise against dollarThis evening, the rupee closed at a level of 81.98 against the dollar with a weakness of 9 paise.Today the stock market closed with a boom.Today, where the Sensex closed at a level of 59846.51 points with a gain of about 13.54 points.On the other hand, the Nifty closed at the level of 17624.00 points with a gain of 24.80 points.

India likely to receive below normal rainfall in 2023 due to El NinoPrivate weather forecasting agency Skymet on Monday said that India is likely to get "below normal" monsoon rains in 2023 with an increasing likelihood of El Nino, which usually brings dry weather in Asia. Jatin Singh, Managing Director, Skymet, said in a statement: "The probability of El Nino is increasing and it is becoming a dominant feature during the monsoon. The return of El Nino can predict a weak monsoon." Retaining its earlier outlook of sub-monsoon, Skymet said monsoon rainfall over India is expected to be 94% of the long period average.About half of India's agricultural land, which has no irrigation cover, depends on annual June–September rains to grow crops such as rice, maize, sugarcane, cotton and soybeans. Skymet expects the northern and central parts of the country to be at risk of rain deficiency. New Delhi defines average, or normal, rainfall as between 96% and 104% of the 50-year average of 88 centimeters (35 in) for the four-month season starting in June. The state-run India Meteorological Department is expected to announce its annual monsoon forecast soon.The weather forecaster said Punjab, Haryana, Rajasthan and Uttar Pradesh, known as the agricultural bowl of northern India, are likely to receive below normal rainfall during the second half of the season. Meanwhile, unseasonal rains and hailstorms have damaged ripening, winter-sown crops like wheat in India's fertile northern, central and western plains, hurting thousands of farmers and raising the risk of further food price inflation Is.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Bangladesh-Textile-Mills-Association-ban-import-cotton-yarn-demands-temporary

Bangladesh Textile Mills Association demands temporary ban on import of cotton yarnThe Bangladesh Textile Mills Association (BTMA) has urged a temporary halt to imports of cotton yarn used in the country's readymade garment industry to retain foreign exchange and boost apparel value addition amid a dollar crunch.In a letter to the Bangladesh Bank governor on 3 April, BTMA president Mohammad Ali Khokon outlined the proposal, which he argues will reduce their competitiveness in global markets. BTMA claims that around 510 local spinning mills, with a production capacity of 3600 million kg of cotton yarn, can meet 70% of the demand of the export-oriented apparel industry. He also mentioned that "if locally produced cotton yarn is sourced or used, the value addition would be up to 60% as against 30% value addition for imported ones."Bangladesh 100% EnabledKhokon urged the central bank governor to take measures to prevent back-to-back letters of credit (LC) for cotton yarn imports, adding that Bangladesh is 100% capable of producing cotton yarn. According to BTMA, Bangladesh is expected to import 0.543 million tonnes of cotton yarn in 2022, up from 0.297 million tonnes in 2019. which sources most of its yarn and fabric domestically, has expressed reservations about any restrictions on imports.BKMEA protestedBangladesh Knitwear Manufacturers and Exporters Association (BKMEA), working president Mohd Hatem opposed the BTMA's plea saying there should be no ban as local spinners cannot meet the entire demand of the export sector for yarn and fabric. As a result, he said, apparel exporters have to import yarn and fabric, while buyers sometimes nominate essential raw materials from abroad, especially China. "We usually import spun or combed cotton yarn from local spinning mills, even though the difference in prices is 30 to 50 cents per kilogram," said Mohammad Hatem.need to maintain competitionIf the gap is bridged, exporters source locally to meet immediate shipment deadlines, it takes a week to get raw material from local sources while imports take 30-45 days, he said. It seems "We import the rest which is normal and cannot be restricted in a free market economy and to maintain competition," he said.here comes the differenceThe government in January this year allowed the country's apparel exporters to import yarn from India in partial shipments through Benapole, Bhomra, Sonamsjid and Banglabandha land ports amid protests from BTMA. RMG exporters could earlier import yarn through Benapole land port under bonded warehouse facility but they were not allowed to make part shipments.Understand like this-In the last financial year, Bangladesh received US$ 42.61 billion from RMG exports, of which US$ 23.21 billion and US$ 19.39 billion came from knitwear and woven goods, respectively. According to BTMA, textile mills meet 80% and 35%-40% of the knitwear and woven sectors' yarn and fabric demand. Data from the central bank showed that value addition in the sector declined to 54.38% in the last fiscal from 64.32% in fiscal 2019, mainly due to higher imports of raw materials.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Due-cotton-market-demand-farmers-international-market-increased-market-prices

Market price of cotton: Due to increase in demand of cotton in the international market, the price increased, farmers are happy With the price of cotton rising up to Rs 1,000 per quintal in the past few days, farmers have started bringing cotton in large quantities to the market for sale.Maharashtra: There is a good news for the farmers. The price of cotton has increased from Rs 700 to Rs 1000 per quintal. Most of the farmers in Dhule district were keeping their cotton at home. For the last four months, the price of cotton has not gone above Rs.8,000. Farmers expected cotton prices to go up to Rs 10,000 per quintal. But the farmers were disappointed because the prices did not increase. But now for the last few days the demand for cotton has increased in the international market and prices are getting good. Due to the increase in the price of cotton in the international market, the domestic cotton market has also increased.With the price of cotton rising up to Rs 1,000 per quintal in the past few days, farmers have started bringing cotton in large quantities to the market for sale. At present, the price of cotton is above eight thousand quintals. Farmers are hopeful that these rates will increase further. Because farmers have kept cotton around for so long. There is a modest expectation of farmers that they should get good remuneration.In Dhule district, the temperature has reached 40 degree Celsius. Along with this, despite being the month of Ramzan, the farmers have also expressed displeasure over not getting good price for watermelon. Watermelon producing farmers are in trouble as the price of watermelon is not above Rs.7 per kg. The same watermelon customers have to buy at the rate of Rs 15 to 25 per kg. There is a difference of two to three times in the per kg price between the farmers and the consumers.👇🏻👇🏻👇🏻👇🏻https://smartinfoindia.com/hi/news-details-hindi/Market-cotton-pakistan-review-weekly-trading-international-growing-naseemusman