This evening, the rupee fell 4 paise to settle at 84.49 versus the US dollarAt the close, the BSE Sensex was down 1,190.34 points, or 1.48 per cent, at 79,043.74, and the Nifty was down 360.70 points, or 1.49 per cent, at 23,914.20. Traders did not give any clear reason for the fall, except that trades were liquidated in a hurry ahead of the expiry of derivatives today.Read More :- Cotton Farmers in Telangana Struggle with Low Yields and Poor Returns
Telangana Cotton Farmers Face Poor Returns and Low YieldsPink Bollworm Infestation and Unseasonal Rains Add to WoesCotton farmers in Telangana are grappling with multiple challenges this season, from declining yields to poor returns on their produce. Late-season rains not only damaged the crop but also increased moisture levels, reducing the quality and market value. Yields have fallen drastically, dropping from an average of 8-10 quintals per acre to just 3-4 quintals. "We are not happy. The pink bollworm attack brought down yields, and unseasonal rains further damaged the crop. I managed only 4-5 quintals across two acres," said a farmer from Mahboobabad district. The Cotton Corporation of India (CCI) has procured around 43 lakh quintals of cotton so far, offering an average price of ₹7,400 per quintal. Procurement began slowly this season due to high moisture content and delays during the festive season but gained momentum after Diwali as farmers started bringing their produce to CCI centers. Farmers Face Reduced Incomes and Labor Shortages Despite procurement by CCI, many farmers feel shortchanged. Raji Reddy, a farmer from Jangaon district, noted that millers were deducting 4-5 kg per quintal citing damage, further reducing their earnings. Additionally, farmers are struggling to find labor for the second picking of the crop, compounding their difficulties. Political Spotlight on Cotton Prices The issue has drawn political attention, with the opposition Bharat Rashtra Samithi (BRS) alleging that farmers are being paid only ₹6,500 per quintal, despite the Minimum Support Price (MSP) being set at ₹7,500. BRS leader T. Harish Rao recently visited the Khammam market yard, demanding that the CCI establish procurement centers there. "The middlemen are exploiting farmers by buying cotton at ₹6,500 and selling it to CCI at ₹7,500," Harish Rao alleged. In response, the Telangana Rythu Sangham has called for the government to announce a bonus of ₹475 per quintal to support struggling farmers. The association held a state-level meeting in Warangal to address the issues plaguing cotton growers.CCI's Appeal to Farmers To streamline the process, the CCI has urged farmers to use its 'Cott-Ally' app or website to locate the nearest procurement centers, check MSP details, and register grievances. “We appeal to farmers not to sell their produce below the MSP. Our procurement operations will continue as long as cotton lots arrive,” said the CCI branch head in Warangal. While the CCI is the primary buyer, private traders currently play a limited role. A local trader, speaking on condition of anonymity, noted, "The bulk of the procurement is being handled by the CCI." With falling yields, pricing disputes, and labor shortages, Telangana's cotton farmers find themselves at a crossroads, calling for urgent support from the government and industry stakeholders to secure their livelihoods.Read More :> Dr.Chandrasekhar Pemmasani Calls on CCI to Ensure Cotton Procurement from Farmers
In early trading, the rupee drops 6 paise to 84.46 versus the US dollar.The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets.BSE Sensex was above 80,250, Nifty50 was above 24,250BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Thursday. While BSE Sensex was above 80,250, Nifty50 was above 24,250. At 9:17 AM, BSE Sensex was trading at 80,264.71, up 31 points or 0.038%. Nifty50 was at 24,277.25, up 2 points or 0.0097%.Read More :> Dr.Chandrasekhar Pemmasani appelle le CCI à garantir l'achat de coton des agriculteurs.
The rupee closed 12 paise lower at Rs 84.45 against the dollar this evening.Indian equity indices erased previous session's losses and ended higher on November 27 with the Nifty trading above 24,250.At the close, the Sensex was up 230.02 points or 0.29 per cent at 80,234.08, and the Nifty was up 80.40 points or 0.33 per cent at 24,274.90. About 2471 stocks advanced, 1302 declined and 105 stocks remained unchanged.Read more:- Cotton Farmers Urge Centre’s Intervention Amid CCI Procurement Hurdles
Dr. Chandrasekhar Pemmasani urges CCI to guarantee farmers' procurement of cottonUnion Minister of State for Communications and Rural Development, Dr. Pemmasani Chandrasekhar, has urged the Cotton Corporation of India (CCI) to ensure the procurement of all cotton stocks from farmers. During a meeting with CCI Chairman and Managing Director, Lalith Kumar Gupta, at Sanchar Bhavan in New Delhi on Tuesday, Dr. Chandrasekhar stressed the importance of addressing farmers' concerns. He called for proactive measures to purchase cotton stocks without rejecting them due to issues like moisture content, emphasizing fairness to the farming community. Gupta briefed the minister on CCI's current initiatives to support farmers, reaffirming the corporation's commitment to purchasing their produce. He assured full cooperation in ensuring that no farmer faces hurdles in selling their cotton. Dr. Chandrasekhar also highlighted the need to address challenges linked to the e-crop system and provide comprehensive support to cotton growers. In response, Gupta highlighted the introduction of the "Cotton Yali" app, which serves as a resource for farmers. The app offers information on cotton procurement, production data, and integrates Aadhaar and bank account details to streamline payments for those selling cotton at CCI procurement centres. The meeting underscored the shared goal of supporting farmers and improving the cotton procurement prcess.
In early trading, the rupee drops 14 paise to 84.43 versus the US dollar. Rupee appreciated 7 paise to 84.22 against the US dollar in morning trade on Tuesday, on a sharp rebound in domestic equities amid improved investor risk appetite. Read More :> Andhra Pradesh cotton farmers grapple with delayed procurement and price cuts amid harsh weather
This evening, the rupee ended the day 4 paise down versus the dollar at 84.33Indian equity indices ended marginally lower in a volatile session on November 26 with the Nifty settling around 24,200. At the close, the Sensex was down 105.79 points or 0.13 per cent at 80,004.06, and the Nifty was down 27.40 points or 0.11 per cent at 24,194.50.Read More :- Cotton Farmers Urge Centre’s Intervention Amid CCI Procurement Hurdles
The rupee gains 5 paise against the US dollar in early trading, reaching 84.24.Rupee appreciated 6 paise to 84.35 against the US dollar in morning trade on Monday, supported by a firm trend in domestic equities.Read More :> Cotton Farmers Urge Centre’s Intervention Amid CCI Procurement Hurdles
The rupee strengthened by 16 paise to close at 84.29 against the dollar this evening.Continuing its gains from the previous day, the BSE benchmark Sensex jumped 992.74 points, or 1.25 per cent, to close at 80,109.85. During the day, it rose 1,355.97 points, or 1.71 per cent, to 80,473.08.The NSE Nifty rose 314.65 points, or 1.32 per cent, to 24,221.90.Read more:- Cotton Farmers Urge Centre’s Intervention Amid CCI Procurement Hurdles
Amid CCI Procurement Obstacles, Cotton Farmers Demand the Center's Intervention Vijayawada: Cotton farmers in Andhra Pradesh face mounting distress as the Cotton Corporation of India (CCI) rejects their produce, citing high moisture content. The delays in procurement have left farmers vulnerable to middlemen and private traders, who are exploiting the situation to purchase cotton at significantly reduced prices, causing substantial losses to growers. The Centre had announced a Minimum Support Price (MSP) of ₹7,521 per quintal for the current crop season. However, due to CCI's hesitance, farmers are forced to sell their produce to local traders for as low as ₹5,000–₹5,500 per quintal, resulting in losses of ₹2,000–₹2,500 per quintal. Farmers Blame CCI for Deliberate Delays Farmers allege that CCI officials are intentionally rejecting stocks to benefit private traders. While CCI has established around 60 procurement centres at ginning mills and 11 centres at market yards across the state, the rejection rate remains unusually high. Many growers, unable to afford the transportation costs of taking their rejected produce back home, are left with no choice but to accept low offers from traders."The connivance between CCI officials and private exporters is evident. Instead of supporting farmers, they are creating opportunities for private players to exploit the situation," alleged CPI(M) district secretary Pasam Ramarao. Chief Minister Calls for Immediate Action Chief Minister N. Chandrababu Naidu has urged the Union government to intervene and rectify the procurement issues. Agriculture Minister K. Atchannaidu emphasized that CCI must streamline its operations to ensure that farmers are not subjected to unnecessary hardships. Naidu has already brought the issue to the attention of Union Agriculture Minister Giriraj Singh, requesting urgent action and clear instructions to CCI officials. Shifting Market Dynamics In recent years, high global demand for cotton had rendered CCI largely inactive, with 90–95% of the crop being purchased by private players at prices exceeding MSP, often reaching ₹10,000–₹12,000 per quintal. However, the current season has seen prices plummet to ₹5,000 per quintal, prompting CCI to step in. Farmers were optimistic about relief through government procurement but are now disheartened by the high rejection rates and delays. Ministerial Review Yields Limited Results Union Minister for Rural Development Pemmasani Chandrasekhar recently reviewed the cotton procurement process with CCI officials and urged them to adopt a more flexible approach. However, CCI maintains that it is bound by procurement norms set by the Centre. A Call for Fair Practices As private traders continue to exploit the farmers' distress, there is growing demand for CCI to act in good faith and adhere to its mandate of providing MSP. Farmer leaders and political representatives stress the urgent need for the Union government to intervene and ensure fair and timely procurement, safeguarding the interests of the farming community.Read More :> Andhra Pradesh cotton farmers grapple with delayed procurement and price cuts amid harsh weather
In early trading, the rupee climbs 8 paise to 84.38 against the US dollar.The rupee recovered from its lowest level and appreciated by 8 paise to 84.38 against the US dollar in early trade on Monday despite a stronger American currency and sustained outflow of foreign funds.Read More :> 61 CCI Centres Begin Cotton Procurement Today
Today, 61 CCI Centers Start Purchasing Cotton In a significant relief for cotton farmers, 61 procurement centres under the Cotton Corporation of India (CCI) will become fully operational starting Saturday. Previously, only 40 centres were active, while the remaining 21 faced delays due to pending fire department approvals and other logistical challenges. The limited number of operational centres had forced farmers to travel long distances, incurring extra transportation costs and enduring prolonged waiting times to sell their produce. Acknowledging these challenges, Union Minister of State for Rural Development and Communications, Dr. Pemmasani Chandra Sekhar, raised the issue with Union Textile Minister Giriraj Singh. Acting promptly, Singh instructed CCI to address the matter. Enhanced Facilities for Farmers Following a review meeting with CCI officials, ginning mill owners, and farmers, Dr. Chandra Sekhar announced a series of measures to streamline the procurement process. Key changes include extending the working hours of procurement centres until 7:30 PM and ensuring same-day processing of paperwork. The centres will now operate from Monday to Saturday, accommodating tenant farmers, who make up 60% of the farming community and often face scheduling conflicts during weekdays. Addressing Moisture Content Concerns One major issue raised by farmers was the high moisture content in cotton, which affects its market value. Dr. Chandra Sekhar assured farmers that the Centre and State governments, along with agricultural experts, are exploring solutions to mitigate this problem. Factors such as climate, transportation, and storage methods contribute to moisture retention, and the minister pledged swift action to address these challenges. Additionally, he proposed extending procurement operations until March 2025 to ensure all farmers’ produce is purchased without delays.Read More :- Cotton prices jump amid concerns of lower production in 2024/25
The rupee appreciated 4 paise against the dollar this evening, closing at Rs 84.45On the last trading day of the week, the Sensex rose 1,961.32 points to close at 79,117.11 while the Nifty rose 557.35 points to close at 23,907.25. Know the detailed market situation.Read More :- Andhra Pradesh cotton farmers grapple with delayed procurement and price cuts amid harsh weather
Early trading sees the rupee gain 1 paisa to 84.49 against the US dollar.Sensex was above 77,300, Nifty50 was near 23,400.BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Friday. At 9:17 AM, BSE Sensex was trading at 77,329.15, up 173 points or 0.22%. Nifty50 was at 23,403.50, up 54 points or 0.23%.Read More:> Andhra Pradesh cotton farmers grapple with delayed procurement and price cuts amid harsh weather
Andhra Pradesh cotton growers struggle with delayed procurement and price cutbacks despite bad weatherCotton farmers in Andhra Pradesh are facing a growing crisis due to delayed procurement and price cuts, aggravated by unfavourable weather conditions. The Cotton Corporation of India (CCI) has set up 31 procurement centres across the state, but only 20 are operational, leaving farmers in many areas unable to sell their produce.After suffering losses last season due to fake seeds and falling prices, farmers had hoped for better returns this year. However, heavy rains have significantly affected the quality of the crop, adding to their woes. The minimum support price (MSP) set by the government for cotton is ₹7,521, attracting farmers to CCI centres in search of a fair price.*Rejection due to moisture levels*Prolonged rains and cool temperatures have led to very high moisture content in harvested cotton, with levels exceeding the acceptable 8%-12% limit. As a result, CCI officials have rejected a large amount of produce, leaving farmers unable to sell their produce at MSP rates. Many farmers are forced to sell their cotton to middlemen at much lower prices."It costs us more than Rs 15,000 to transport cotton to the procurement centre. If our produce is rejected, this cost doubles, further increasing our financial burden," lamented K Raghava Rao, a farmer from Medikonduru.Allegations of deliberate delayFarmers from Kurantula village have accused the local CCI officials of delaying procurement citing server problems and making them wait for hours. They expressed their disappointment to Union Minister of State for Rural Development Pemmasani Chandrasekhar during his visit to the procurement centre.Government interventionResponding to farmers' complaints, the minister raised the issue with Union Textiles Minister Giriraj Singh. Following this, Central Marketing Director Vijay Kuradagi has been appointed as the special inspection officer to investigate the matter.Farmers are now requesting the government to address their concerns by either increasing the permissible moisture limit or adjusting procurement rates for weather-affected crops. Without intervention, they fear falling further prey to middlemen and deepening financial losses.Read More :- Cotton prices jump amid concerns of lower production in 2024/25
Cotton prices rise on concerns about decreased output in 2024/25Cotton candy prices rose 0.2% to close at ₹54,480 on fears of a reduction in cotton production in India. The USDA has lowered its forecast for India's 2024/25 cotton production by 7.4% to 30.72 million bales, citing excessive rainfall and pest infestation. Cotton acreage fell by 9% to 11.29 million hectares, as many farmers in Gujarat have started cultivating peanuts, which gives them better returns.This reduction is expected to increase India's cotton imports by up to 2.5 million bales, significantly higher than last year's 1.75 million bales, while exports may fall to 1.8 million bales from 2.85 million bales.Globally, the USDA has raised cotton production estimates by 200,000 bales, with growth in China, Brazil and Argentina offsetting declines in the US and Spain. US cotton production is estimated at 14.2 million bales, down by more than 300,000 bales due to Hurricane Helen. US cotton exports are also expected to fall by 11.5 million bales due to weak global demand. The final estimate of worldwide stocks is 76.3 million bales, slightly lower than the previous forecast.Spot prices in Rajkot, a major cotton trading hub, fell 0.41% to ₹25,814.95.Read More :- Lower Cotton Projections Raise Concerns in Textile Sector
The rupee fell 7 paise versus the dollar to settle at Rs 84.49 this eveningOn the fourth trading day of the week, the Sensex closed with a huge decline of 422 points at 77,155.79 points, while the Nifty slipped 168 points to close at 23,349.90 points.Midcap stocks also witnessed a volatile environment throughout the day. Nifty Midcap 50 closed at 15,167.55 points with a gain of 105 points till the market closed.Read More :- Lower Cotton Projections Raise Concerns in Textile Sector
Concerns in the Textile Sector Are Raised by Lower Cotton ProjectionsThe textile sector is voicing apprehensions over a dip in cotton production this year, driven by reduced sowing areas. Cotton associations estimate India’s cotton output at 302 lakh bales (1 bale equals 170 kg). In Gujarat, a key cotton-growing state, cultivation has shrunk to 23.71 lakh hectares, down from 26.82 lakh hectares last year. Industry experts stress the urgent need to introduce new seed varieties to boost productivity, given the state’s robust ginning and spinning infrastructure. Agricultural department data shows Gujarat’s cotton cultivation area fluctuating in recent years, from 25.49 lakh hectares in 2022 to 26.82 lakh hectares in 2023, before falling to 23.71 lakh hectares in 2024. A senior agriculture department official explained, “Crop damage from pests has lowered productivity and delayed arrivals. Many farmers have switched to groundnut this year for better returns.” Reflecting this shift, groundnut cultivation in Gujarat surged to 19.08 lakh hectares, up from 16.35 lakh hectares the previous year.Read More :> CCI Begins Cotton Procurement at Minimum Support Price in Five States
Due to fluctuating crude prices, the rupee flattens at 84.42 against the US dollar.The rupee turned flat at 84.42 against the US dollar in early trade on Thursday amid volatile crude oil prices and lackluster sentiment in the domestic equity markets.Read More :> Telangana Farmers Protest Over Cotton Purchases Falling Below MSP
This evening, the rupee fell 3 paise versus the dollar to settle at Rs 84.42The 30-share BSE benchmark Sensex closed up 239 points, or 0.31%, at 77,578. The broader NSE Nifty closed up 65 points, or 0.28%, at 23,518. During the session, the Sensex touched an intraday high of 78,451, while the Nifty 50 touched 23,780.Read More :- Telangana Farmers Protest Over Cotton Purchases Falling Below MSP
| title | Created At | Action |
|---|---|---|
| The rupee declined by 4 paise to close at 84.49 against the dollar this evening | 28-11-2024 16:27:55 | view |
| Cotton Farmers in Telangana Struggle with Low Yields and Poor Returns | 28-11-2024 11:13:58 | view |
| Rupee falls 6 paise to 84.46 against US dollar in early trade | 28-11-2024 10:21:16 | view |
| The rupee ended the day at Rs 84.45 against the dollar, depreciating by 12 paise. | 27-11-2024 16:47:00 | view |
| Dr.Chandrasekhar Pemmasani Calls on CCI to Ensure Cotton Procurement from Farmers | 27-11-2024 11:32:59 | view |
| Rupee slides 14 paise to 84.43 against US dollar in early trade | 27-11-2024 10:15:07 | view |
| The rupee closed 4 paise lower at 84.33 against the dollar this evening | 26-11-2024 16:40:55 | view |
| Rupee rises 5 paise to 84.24 against US dollar in early trade | 26-11-2024 10:17:23 | view |
| This evening, the rupee rose 16 paise versus the dollar to settle at Rs 84.29. | 25-11-2024 16:40:58 | view |
| Cotton Farmers Urge Centre’s Intervention Amid CCI Procurement Hurdles | 25-11-2024 11:27:04 | view |
| Rupee rises 8 paise to 84.38 against US dollar in early trade | 25-11-2024 10:16:42 | view |
| 61 CCI Centres Begin Cotton Procurement Today | 23-11-2024 11:26:02 | view |
| This evening, the rupee strengthened by 4 paise to close at Rs 84.45 against the dollar | 22-11-2024 16:24:03 | view |
| Rupee rises 1 paisa to 84.49 against US dollar in early trade | 22-11-2024 10:22:41 | view |
| Andhra Pradesh cotton farmers grapple with delayed procurement and price cuts amid harsh weather | 21-11-2024 17:19:42 | view |
| Cotton prices jump amid concerns of lower production in 2024/25 | 21-11-2024 16:51:03 | view |
| This evening, the rupee closed at Rs 84.49 against the dollar with a weakness of 7 paise | 21-11-2024 16:26:43 | view |
| Lower Cotton Projections Raise Concerns in Textile Sector | 21-11-2024 10:55:08 | view |
| Rupee turns flat at 84.42 against US dollar amid volatile crude prices | 21-11-2024 10:20:27 | view |
| The rupee closed at Rs 84.42 this evening with a weakness of 3 paise against the dollar | 19-11-2024 16:42:00 | view |
