This evening, the rupee strengthened by 8 paise to close at 83.89 against the dollar.At the end of the trading session, the Sensex closed at 82,890.94, down 71.77 points or 0.09 per cent, and the Nifty closed at 25,356.50, down 32.40 points or 0.13 per cent. About 2363 stocks rose, 1431 stocks declined and 102 stocks remained unchanged.Read more:- 11 new CCI centres for cotton procurement in Jalgaon: To be started soon
Cotton Arrivals Begin in Punjab MandisBathinda: The arrival of raw cotton has commenced in Punjab’s mandis, with the first batch of 5 quintals being sold at ₹7,154 per quintal in the Malout grain market on Thursday. While the minimum support price (MSP) for the current season is set at ₹7,421 per quintal for 27.5-28.5mm long staple cotton, this MSP will only come into effect from October 1. Until then, the previous MSP of ₹6,920 per quintal for the same variety will remain applicable until September 30.This year marks a significant shift as cotton cultivation in Punjab has fallen below 1 lakh hectares for the first time in decades. Muktsar district mandi officer, Ajaypal Singh, noted that small quantities of cotton had started arriving in Muktsar earlier in the week, with the first arrival at Malout recorded on Thursday.Read More :- 11 new CCI centres for cotton procurement in Jalgaon: To be started soon
Rupee gains 3 paise vs the dollarAt the interbank foreign exchange market, the local unit opened at 83.97 and witnessed an intraday high of 83.95 and a low of 83.99 against the American currency.Read More :> 11 new CCI centres for cotton procurement in Jalgaon: To be started soon
This evening, the rupee strengthened by 1 paisa to close at Rs 83.97 against the dollar.At the end of trading, the BSE Sensex jumped 1,439.55 points or 1.77 per cent to close at 82,962.71. During the day's trading, it touched its new all-time high of 83,116.19 points. On the other hand, the NSE's 50-share index, Nifty, rose 470.45 points or 1.89 per cent to close at 25,388.90. It also made its new record high of 25,433.35 points today.Read more:- Ajit Pawar Said Centre Favourable to Raising MSP for Soybean, Cotton
11 brand-new CCI locations in Jalgaon for the purchase of cotton: to begin shortlyJalgaon: This year the Cotton Corporation of India (CCI) has approved 11 cotton procurement centres in the district, which will come into operation soon. For the last two years, many centres were closed due to lack of procurement under the Cotton Marketing Federation, causing huge financial losses to the farmers.Cotton is widely cultivated in Jalgaon district, especially in other talukas except Raver and Yaval. A large quantity of cotton was procured at the centres set up by CCI during the Covid pandemic. However, in the recent two years, most of the procurement centres were closed due to lack of personnel and other systemic challenges. Due to this, farmers were not able to get a fair price for their crop, which affected their economic condition.Keeping in mind the problems of the farmers, Union Minister of State Raksha Khadse had discussed with Union Textiles Minister Giriraj Singh. As a result, 11 new CCI cotton procurement centres will be opened in the district at Jamner, Bhusaval, Chopra, Bodwad, Pachora, Jalgaon, Chalisgaon, Erandol, Shendurni, and Dharangaon.Farmers will get benefits under MSPHigh quality cotton with 8 to 12 percent moisture will be procured from farmers at these centres. The cotton will be procured under the Minimum Support Price (MSP), and payments will be made directly into the farmers' bank accounts through DBT (Direct Benefit Transfer).This move by CCI will help farmers of Jalgaon district get the right price for their crop and overcome the financial crisis.
Center Favorable to Increasing MSP for Cotton and Soybeans, According to Ajit PawarMaharashtra Deputy Chief Minister Ajit Pawar on Wednesday expressed optimism that the central government is inclined towards increasing the Minimum Support Price (MSP) for key agricultural crops such as soybean and cotton, as well as granting export permissions for these products. Pawar, who also oversees the finance and planning departments, made these remarks during a meeting with farmer representatives at the Mantralaya in Mumbai.Pawar reassured farmers that both the state and central governments are committed to ensuring they receive appropriate compensation for crop losses. He stated that discussions with Union Agriculture Minister Shivraj Singh Chouhan have been positive, especially on the issues of raising MSPs and preventing fraudulent practices by insurance companies. "The Centre is keen on addressing farmers' concerns regarding compensation from crop insurance companies, and the positive outcomes will soon be visible," he added.The Deputy CM also highlighted the state's ambitious plan to generate 11,500 megawatts of solar energy, which would ensure daytime electricity supply for agricultural pumps. Additionally, he mentioned that the government is working to clear all obstacles preventing eligible farmers from receiving debt waivers under the Mahatma Jyotirao Phule Scheme, with the goal of resolving these issues by the end of September.On the topic of crop insurance, Pawar emphasized that the government is taking a strong stance to protect farmers from fraudulent practices by insurance firms. He assured farmers that discussions are ongoing with insurance companies to develop a more farmer-friendly solution. Surveys are currently being conducted to assess the damage caused by heavy rains during the kharif season, and the government is making every effort to ensure that no affected farmer is left without assistance.Pawar also mentioned that the Centre has decided not to impose a ban on onion exports, which will provide some relief to farmers. He further added that the process of transferring funds under the Mahatma Jyotirao Phule Farmer Loan Waiver Scheme is nearing completion. Discrepancies in payments are being reviewed to ensure that all farmers receive the full benefits they are entitled to.In the coming days, a delegation of state ministers will meet with central leaders, including Union Cooperation Minister Amit Shah, to discuss pending issues such as agricultural subsidies, MSP for crops, and other support measures for farmers. Efforts are also underway to distribute subsidies for farm wells, drip and sprinkler irrigation, and fruit orchards.In conclusion, Pawar assured farmers that the state government, in coordination with the Centre, is fully committed to addressing their concerns and ensuring that their demands are met, particularly regarding MSP, crop insurance, and compensation for losses.Read More :> Cotton Farmers in Telangana Face Uncertain Future Amid Weather Woes
In early trade, the rupee climbs 2 paise to 83.97 against the US dollar.Sensex off day's high, trades 300 pts higher, Nifty above 25,050the BSE Sensex was up 198 points, or 0.24 per cent, at 81,721, while the Nifty 50 had gained 69 points, or 0.28 per cent, at 24,987Read More :> Cotton prices skyrocketed, 3% higher than MSP, prices will increase further due to less sowing
This evening, the rupee closed at 83.98 against the US dollar, unchangedAt the close of trading, the BSE Sensex fell 398.13 points or 0.49 per cent to close at 81,523.16. The NSE's 50-share index, Nifty, fell 122.65 points or 0.49 per cent to close at 24,918.45.Read More :- Cotton prices skyrocketed, 3% higher than MSP, prices will increase further due to less sowing
Prices for cotton surged, rising 3% over MSP; less sowing will cause prices to rise even more.Due to the shortage of cotton, prices are continuously rising in the market. In the current season, cotton prices have gone up by 3% above the Minimum Support Price (MSP), and experts believe that there may be further jump in them in the future.There are many reasons for this increase in cotton prices. In this Kharif season, farmers have sown cotton in 11 lakh hectares less area. Apart from this, heavy rains in major cotton producing states like Maharashtra, Telangana and Andhra Pradesh have caused great damage to the crop. In Punjab too, cotton sowing has decreased compared to last year.Last year, the outbreak of caterpillar pest in the cotton crop had badly affected the yield, due to which the farmers suffered a lot and they could not even recover the cost. This year also, farmers are showing less interest in cotton cultivation, the effect of which is visible in sowing.Signs of reductionAccording to the Union Ministry of Agriculture and Farmers Welfare, till September 2, 2024, cotton has been cultivated in 111.74 lakh hectares across the country, which is about 11 lakh hectares less than 123.11 lakh hectares last year.Cotton prices in wholesale marketsThe average price of cotton in the wholesale markets of Surat and Rajkot has reached Rs 7525 to Rs 7715 per quintal, while in Amreli it is Rs 7450 per quintal. The maximum price of cotton has been recorded up to Rs 12,222 per quintal in Chitradurga Mandi.Difference between MSP and pricesThe central government has increased the MSP of cotton by Rs 501 for the 2024-25 season. Now the MSP for the medium staple category is Rs 7121 per quintal and for the long staple category it is Rs 7521 per quintal. The difference between the average price of cotton in the market and the MSP has increased to Rs 300-400 per quintal, indicating a further increase in prices in the coming days.The ever-increasing prices of cotton are posing a new challenge for both farmers and the market.Read More :> Cotton Farmers in Telangana Face Uncertain Future Amid Weather Woes
Telangana's Cotton Growers Face An Uncertain Future Due To Weather ProblemsThe hopes of cotton farmers in Telangana have been shattered as adverse weather conditions continue to impact their livelihoods. The initial sowing of cotton, which began in late May after pre-monsoon showers, faced severe setbacks due to prolonged dry spells.Cotton farmers in Telangana are grappling with a severe crisis as recent heavy rains and subsequent flooding have caused extensive damage to their crops. Despite expectations of stable prices this year, preliminary estimates indicate that over seven lakh acres of cotton have been affected by the floods.This year, Telangana anticipated a significant increase in cotton cultivation, with many farmers shifting away from paddy due to irrigation shortages and crop failures from the previous season. However, their hopes were dashed as adverse weather conditions took a toll. While sowing began optimistically in late May, the crops were soon impacted by dry spells, and now floods have compounded their difficulties.Despite these setbacks, farmers remained hopeful, driven by price forecasts suggesting stable rates of Rs. 6,600 to Rs. 7,200 per quintal for the upcoming harvest season, which spans from November 2024 to February 2025. Market intelligence reports from institutions such as the Agriculture and Market Intelligence Centre of Prof. Jayashankar Telangana State Agricultural University further boosted their optimism.Last year, cotton prices mostly stayed below Rs. 7,000 per quintal, with only a few varieties fetching profitable rates. This year, however, the cost of cotton production has increased significantly due to labor shortages and the rising costs of inputs like seeds, fertilizers, and pesticides.Cotton was cultivated on nearly 43 lakh acres across Telangana this year. Yet, early reports suggest that cotton crops in over one-sixth of this area were damaged by the August rains that triggered widespread flooding. Although the full extent of the losses has yet to be determined, preliminary estimates paint a grim picture.Government agencies have assessed the initial damages from the recent rains at Rs. 5,438 crore, with cotton losses accounting for a large share of this figure. While the Centre’s price forecast mechanism, supported by the Department of Agricultural Economics, predicts stable prices for most crops compared to last year’s Vanakalam marketing season, persistent rains remain a significant threat to cotton farming. Mahabubabad and Khammam districts have been the worst hit by crop losses, and farmers fear the worst may not be over yet.Cotton farming is critical to Telangana’s agricultural economy, and these adverse weather conditions have undermined farmers’ efforts to boost productivity and lower production costs. Farmers are now demanding compensation of Rs. 35,000 per acre, given their high investments in this year’s crop. Timely support, they argue, is essential for them to recover and shift to alternative crops. They are calling on the State government and agricultural institutions to step in and provide much-needed relief.Read More :>Cotton production expected to fall by 10 to 15 per cent due to heavy rains in Gujarat
The rupee appreciated by 2 paise to trade at 83.96 per US dollar.Mumbai, Sep 11 (PTI) The rupee traded in a narrow range on Wednesday and appreciated 2 paise to 83.96 against the American currency, on easing crude oil prices and tracking its Asian peers.Read More :> Gujarat: Cotton prices rise at Botad marketing yard and farmers' income rises
This evening, the rupee finished 2 paise down versus the US dollar at 83.98At the close of trading, the BSE Sensex rose 361.75 points or 0.44 per cent to close at 81,921.29. The NSE's 50-share index, the Nifty, rose 104.70 points or 0.42 per cent to close at 25,041.10.Read More :- Gujarat: Cotton prices rise at Botad marketing yard and farmers' income rises
Gujarat: Botad marketing yard sees an increase in cotton prices, and farmer income risesLong queues of vehicles were seen today at Botad marketing yard to sell farmers' crops. With cotton prices at this yard being the highest compared to other marketing yards in Saurashtra, it has become the first choice of farmers. Farmers are getting the best prices for their produce here, which has increased the popularity of Botad marketing yard.Botad: Saurashtra's largest cotton hubBotad marketing yard is considered to be the largest cotton hub in Saurashtra. Not only Botad, but farmers from remote villages of Amreli, Surendranagar and Ahmedabad districts also come here to sell their cotton crop. Long queues of vehicles are seen since morning, due to which the arrival of cotton has increased here. A huge increase in the arrival of cotton has been seen in the last three days.Cotton arrival and price rise in the last three daysRegular auction of cotton takes place daily at Botad yard. In the last three days, the arrival of cotton was 45 to 70 quintals, and the prices were recorded up to Rs 1600 per quintal. But today, 100 quintals of cotton were recorded, and the prices also rose. The minimum price of cotton per maund reached Rs 1160 and the maximum price reached Rs 1631. A total of more than 30 quintals of cotton yield was auctioned in the last three days.Auction of other crops along with cottonAlong with cotton, various crops like wheat, millet, sorghum, groundnut, sesame, black sesame, cumin, gram, coriander, moong, tuvar and castor are also auctioned in Botad marketing yard. Due to this diversity, this yard remains a major trading center for farmers.Read More :>Cotton Crops Affected by Parawilt Disease in Siddipet
Strong Rupee Against US DollarThe Indian rupee traded in a narrow range against the US dollar on Tuesday, supported by foreign institutional inflows and a muted trend in domestic equities.Read More :> Cotton production expected to fall by 10 to 15 per cent due to heavy rains in Gujarat
This evening, the rupee closed at Rs 83.96 against the dollar with a weakness of 1 paisa.At the end of trading, the Sensex closed at 81,559.54 with a gain of 375.61 points or 0.46 percent. At the same time, the Nifty closed at 24,936.40 with a gain of 84.25 points or 0.34 percent.Read more:- Cotton Crops Affected by Parawilt Disease in Siddipet
Gujarat's severe rains are predicted to cause a 10% to 15% decrease in cotton yieldThe incessant rains in Gujarat have caused deep concern among farmers. While the reservoirs are filled with sufficient water, the crops sown in the fields are getting damaged due to the overflowing water. According to the estimates of the Cotton Association of India (CAI) and farmers, cotton production in Gujarat is likely to fall by 10-15 per cent this year due to low sowing and crop damage due to rain. Farmers say that the rains in June and July have caused the most damage.According to the data of the Gujarat Agriculture Department, till September 2, cotton cultivation in the state has declined by 12% to 23.62 lakh hectares compared to 26.79 lakh hectares last year. According to the CAI, cotton production in Gujarat is estimated to be 92 lakh bales in 2023-24, but due to rains, production is likely to decrease further this year.Cotton traders say that the season's stock in Gujarat is almost about to end, which is also leading to a decline in rupee income. Despite the low income of cotton in the last 15 days, the price of rupee has increased by about 200 to 2,000 rupees. Now the price of cotton per khanddi (356 kg) has increased from Rs 57,500 to Rs 59,500. The daily cotton income of the state is 1,500 to 1,700 bales, while across the country it is 5,000 to 6,000 bales.According to the CAI president, cotton was planted in about 10 lakh hectares in June. The crop condition was better in early August, but due to heavy rains after August 15, cotton producing areas have suffered losses of 15-25%. However, the plants planted in July-August suffered less damage as they were smaller. If there is more heavy rain now, the situation may worsen.On an average, cotton is cultivated in 125-130 lakh hectares across the country, but this year the area under cultivation in major producing states like Punjab, Haryana, Gujarat, and Maharashtra has come down to 111 lakh hectares from 123 lakh hectares last year.Source: Bombay Samachar
Siddipet Cotton Crops Affected by Parawilt DiseaseFarmers are deeply concerned as cotton plants have started shedding leaves and bolls prematurely due to continuous rainfall.In Siddipet Persistent rains over the last few weeks have severely affected cotton crops in the erstwhile Medak district, leading to an outbreak of para wilt, also known as sudden wilt disease.This disease causes cotton plants to wilt suddenly, leaving farmers anxious as they notice leaves and bolls dropping early. Cotton is the primary crop in Sangareddy district and the second most important crop after paddy in Siddipet and Medak districts. With heavy rains battering the region for over two weeks, agriculture officials have reported widespread occurrences of sudden wilt in several areas.Markook mandal Agriculture Officer T Nagendar Reddy explained that plants with a higher number of cotton bolls are the most vulnerable to the disease. He advised farmers to regularly drain excess water from the fields and closely monitor the crops to prevent further damage. While some plants may survive the wilt, Reddy warned that cotton productivity is expected to decline significantly.Urging farmers to be cautious, Reddy emphasized avoiding excess water supply to the crops, especially in areas where plants are growing rapidly and bearing more bolls, as they are more prone to sudden wilt disease.Read More :> India to Produce Carbon Fibre by 2025-26: Textile Minister Giriraj Singh
In early trade, the rupee starts on a flat note against the US dollar at 83.95.Sensex down for 5th day, Nifty below 24,800The BSE Sensex fell 169.57 points or 0.21 per cent to 81,014.36. This was the fifth day of fall for the BSE barometer. The NSE Nifty fell 54 points or 0.22 per cent to 24,798.15. This index was down for the fourth straight session.Read More :> Container Shortage and Rising Shipping Costs Severely Impact Tirupur's Textile Industry
The textile industry in Tirupur is severely impacted by a shortage of containers and rising shipping costsThe textile export industry in Tirupur has been significantly impacted by a severe container shortage and a sharp increase in shipping costs over the past three months.Shipping plays a vital role in garment exports, especially from Tirupur to key markets such as Europe, the UK, the USA, and Arab countries. Goods are primarily shipped through the ports of Tuticorin, Chennai, and Kochi, with Tuticorin handling about 80% of Tirupur's exports.M P Muthurathinam, president of the Tirupur Exporters and Manufacturers Association, emphasized the importance of timely delivery in the export business. "Garments from Tirupur are transported by container trucks to Tuticorin, then shipped to Colombo, where they are transferred to larger vessels. However, the container shortage has severely disrupted this process, affecting the garment export business for the last three months. Three months ago, the cost of a 40-foot container was $1,700; it has now surged to $7,000 due to the shortage."India relies heavily on China for containers, where production delays have further exacerbated the issue. Previously, containers returning from China with imported goods were refilled with exports. However, they are now frequently sent back empty, as shipping companies prioritize routes to Europe and the USA, where they earn higher profits.An exporter noted that air freight costs are four times higher than sea freight, making shipping the preferred mode of transport. He stressed the need for India to start producing containers domestically. "The Union government should consider establishing public sector shipping firms to tackle the issue. Unfortunately, the Centre has not yet taken any significant steps in this direction. Export disruptions are treated as temporary, but they have long-term consequences on employment, trade, and foreign exchange earnings."K M Subramanian, president of the Tirupur Exporters Association, pointed out that the rising shipping costs have forced businesses to increase the prices of their products, making it difficult to compete with countries like Bangladesh and Vietnam. "In Tirupur, 90% of textile players are micro, small, and medium enterprises (MSMEs), with only 10% being large companies. The burden of increased shipping costs is especially hard on these smaller enterprises."
India Will Produce Carbon Fiber by 2025–2026: Giriraj Singh, the Textile MinisterUnion Textiles Minister Giriraj Singh announced on Friday that India is expected to start producing carbon fibre by 2025-26. Carbon fibre, a key material used in aerospace, civil engineering, and defence, is currently imported from countries like the US, France, Japan, and Germany. Singh expressed confidence that this niche product would soon be domestically produced.Addressing the media, Singh highlighted the growing importance of technical textiles across various sectors, stating, "The future belongs to technical textiles, and I am confident that India will produce carbon fibre by 2025-26."He also mentioned the European Union’s upcoming Carbon Border Adjustment Mechanism, a tax on embedded carbon imports, which is set to take effect in 2026, underscoring the urgency of local production.The minister praised the Narendra Modi-led government for initiatives that have reduced imports in sectors like hygiene. He credited the Production-Linked Incentive (PLI) scheme with boosting domestic production, noting, "We used to import diapers, but thanks to PM Modi’s PLI scheme, the industry has been revitalized."At a technical textiles event organized by Ficci, Singh reiterated the government’s commitment to developing the industry. Initiatives like the National Technical Textiles Mission (NTTM) and the PLI scheme for man-made fibre (MMF) fabrics and technical textiles were cited as key efforts.Singh highlighted 156 research projects under NTTM, including carbon fibre development and support for startups. He also pointed to innovations such as the North India Textile Research Association's (NITRA) work on Milkweed fibres, which are useful for cold-weather applications.Discussing export targets, Singh expressed confidence that India would surpass the $10 billion goal for technical textiles exports by 2030. He emphasized the potential of the Meditech sector, particularly hygiene products, and also identified Agrotech as a promising area for employment and daily use products.Singh concluded by expressing optimism about India’s ability to develop high-performance fibres with applications in aerospace, automotive, construction, and other fields.Read More :>PLI Benefits Likely to Expand to More Textile Items
| title | Created At | Action |
|---|---|---|
| The rupee appreciated 8 paise versus the US dollar this evening, closing at Rs 83.89 | 13-09-2024 16:26:20 | view |
| Cotton Arrivals Begin in Punjab Mandis | 13-09-2024 11:24:30 | view |
| Rupee rises by 3 paise vs dollar | 13-09-2024 10:19:41 | view |
| This evening, the rupee gained 1 paisa against the dollar, ending the day at Rs 83.97. | 12-09-2024 16:30:04 | view |
| 11 new CCI centres for cotton procurement in Jalgaon: To be started soon | 12-09-2024 16:25:08 | view |
| Ajit Pawar Said Centre Favourable to Raising MSP for Soybean, Cotton | 12-09-2024 10:56:50 | view |
| Rupee rises 2 paise to 83.97 against US dollar in early trade | 12-09-2024 10:22:57 | view |
| The rupee closed unchanged at 83.98 against the US dollar this evening | 11-09-2024 16:29:54 | view |
| Cotton prices skyrocketed, 3% higher than MSP, prices will increase further due to less sowing | 11-09-2024 12:21:58 | view |
| Cotton Farmers in Telangana Face Uncertain Future Amid Weather Woes | 11-09-2024 11:33:28 | view |
| The rupee strengthened by 2 paise to 83.96 per dollar against the US currency. | 11-09-2024 10:30:33 | view |
| The rupee closed 2 paise lower at 83.98 against the US dollar this evening | 10-09-2024 16:18:33 | view |
| Gujarat: Cotton prices rise at Botad marketing yard and farmers' income rises | 10-09-2024 10:55:17 | view |
| Rupee Holds Steady Against US Dollar | 10-09-2024 10:24:08 | view |
| This evening, the rupee ended at Rs 83.96 per dollar, marking a decline of 1 paisa. | 09-09-2024 16:37:13 | view |
| Cotton production expected to fall by 10 to 15 per cent due to heavy rains in Gujarat | 09-09-2024 13:31:36 | view |
| Cotton Crops Affected by Parawilt Disease in Siddipet | 09-09-2024 11:06:27 | view |
| Rupee opens on flat note at 83.95 against US dollar in early trade | 09-09-2024 10:25:20 | view |
| Container Shortage and Rising Shipping Costs Severely Impact Tirupur's Textile Industry | 07-09-2024 11:35:55 | view |
| India to Produce Carbon Fibre by 2025-26: Textile Minister Giriraj Singh | 07-09-2024 11:25:21 | view |
