India's monsoon beats the delay and is expected to arrive on schedule.India's annual monsoon has covered more than three-fourths of the country and it is set to cover the entire country on time for the planting season despite stalling earlier this month, two senior weather officials said on Thursday.Summer rains, critical for economic growth in Asia's third-largest economy, usually begin in the south around June 1 before spreading nationwide by July 8, allowing farmers to plant crops such as rice, cotton, soybeans, and sugarcane."Monsoon is advancing quickly in northern India and will cover the entire country on time," said an official of the India Meteorological Department (IMD), who spoke on condition of anonymity as he was not authorised to speak to the media.The southwest monsoon advanced on Thursday, covering more parts of Rajasthan, most of Madhya Pradesh, additional areas of Uttar Pradesh, Bihar, and nearly all of Uttarakhand and Himachal Pradesh, the IMD said in a statement.India has received 19% less rainfall since June 1, IMD data showed, as the monsoon's progress had stalled, with almost the entire country except for a few southern states experiencing shortfalls and parts of the northwest gripped by heatwaves.The lifeblood of the nearly $3.5-trillion economy, the monsoon brings nearly 70% of the rain India needs to water farms and refill reservoirs and aquifers.Without irrigation, nearly half of the farmland in the world's second-biggest producer of rice, wheat, and sugar depends on the annual rains that usually run from June to September.Rainfall is picking up, and most parts of the country will receive good rainfall in the next fortnight, accelerating the planting of summer-sown crops, another weather official said.Read more :- Brazil to Surpass US as Top Cotton Exporter
This evening, the rupee gained 11 paise to end higher against the dollar.At the close of trading, the BSE Sensex closed at 79,243.18, up 568.93 points or 0.72%. It touched a new high of 79,396.03 during the day. The NSE's 50-share index Nifty closed at 24,044.50, up 175.70 points or 0.74%. It also made a new all-time high of 24,087.45 during the day.read more:-Brazil to Surpass US as Top Cotton Exporter
Brazil Will Overtake the US as the Leading Cotton ExporterBrazil is poised to become the world’s leading cotton exporter in the 2023-24 season, overtaking the United States, which has held the top spot for decades. This shift follows an over 80% surge in Brazilian cotton shipments this season, according to the local exporters’ association, Anea.With just a month remaining in the 2023-24 cycle, Brazil's ascension to the number one exporter position is now certain, driven by record production, strong demand from Asian countries, and a significant drop in US output due to adverse weather conditions.It happened a little earlier than we imagined,” said Anea head Miguel Faus. “The main reason is the failure of the US crop, while Brazilian production increased.Faus predicts that Brazil's exports could rise further in the next season, as farmers are set to harvest another record crop, with expectations of continued growth into 2025-26. In the medium term, Brazil will consolidate itself in this leadership position,” he said.The US Department of Agriculture (USDA) recently increased its forecast for Brazil’s cotton exports by 300,000 bales to 12.4 million bales, while cutting the US forecast by 500,000 bales to 11.8 million bales.A USDA report noted that the US had led global cotton exports since the early 1990s. However, Brazil surpassed the US in production in 2023-24, ranking third globally behind China and India, a position expected to continue in 2024-25.Brazil has also been increasing its exports of other commodities, including corn and coffee. While it remains the world's largest coffee producer and exporter, Faus noted that Brazil's influence in the cotton market, though significant, is more balanced. In the case of cotton, the forces are more balanced… But of course, if Brazil’s production rises or falls, the market will be paying attention, he said.Key buyers of Brazilian cotton include China, Vietnam, Bangladesh, Turkey, and Pakistan.Read More :> Indore Division Farmers to Sown Kharif Crops on Nearly 21 Lakh Hectares
Farmers in the Indore Division Will Plant Kharif Crops on Almost 21 Lakh HectaresIndore: Farmers in the Indore division are expected to sow kharif crops across nearly 21 lakh hectares, with soybeans, cotton, and maize likely to dominate the planted area, according to the farm department.The area under maize cultivation is anticipated to increase compared to last year, driven by higher maize prices in the previous season, which have attracted farmers in various regions. Maize is expected to be cultivated on 3.4 lakh hectares in the Indore division this season, as per the department's projections.The farm department has set a target of 5.6 lakh hectares for cotton in the division, marking an increase of close to 3% from the previous year.With recent showers and adequate soil moisture, farmers in many parts of Indore, Dhar, Khandwa, Alirajpur, and Jhabua, among other places, have completed more than 50% of kharif crop sowing.Sowing of kharif crops is progressing well, and current weather conditions are favorable for crop growth. The area under maize is higher than last season, and cotton acreage has also increased,said an official from the farm department who wished to remain anonymous.According to a field survey compilation report from the farm department issued on June 21, farmers are likely to sow soybeans on 9.3 lakh hectares and cotton on 5.7 lakh hectares. Soybeans, cotton, maize, and pulses are the main kharif crops in the Indore division.Ramswarup Patel, a farmer from Sanwer, said, We have sown soybeans on 20 bighas, the same as last year, because we do not have many options to switch. This region is well suited for soybeans and gives a good yield. Climatic conditions look good and suitable for crop growth.Read More :> Cotton Loses Its ‘Most Profitable Crop’ Status in Andhra Pradesh’s Undivided Kurnool District
In the undivided Kurnool District of Andhra Pradesh, cotton loses its status as the "most profitable crop."Cotton cultivation in the undivided Kurnool district of Andhra Pradesh has seen an alarming decline in recent years, raising concerns among both the farming community and the scientific fraternity.Historically, the district accounted for almost 70% of the state's total cotton yield, with its natural-colored produce having significant export potential. The Mungari variety, cultivated since the early 1900s, was even hailed as 'white gold'. During the 1990s, average yields ranged between 10 and 25 quintals per acre, thanks to dominant hybrids such as Mallika, Bunny, Brahma, and NHH-44. The introduction of transgenic cotton between 2002 and 2006 initially appeared promising.However, cotton no longer holds the title of 'most profitable crop' due to various factors. The reorganization of Kurnool district two years ago shifted most of the cotton-growing area to rainfed Kurnool, leading to a significant reduction in acreage. Present-day Kurnool witnessed a 26% reduction, from 2.50 lakh hectares to 1.83 lakh hectares in 2023-24. Nandyal experienced an even more drastic 70% fall, from 25,586 hectares to just 7,932 hectares.Despite being a cash crop with attractive prices, cotton has become less appealing to farmers over the last decade due to late monsoon onset, early withdrawal, and unexpected cyclones during October-November attributed to climate change.Pest infestations have further exacerbated the situation. The incidence of pink bollworm has surged over the last decade due to the failure of Bt transgenic cotton to offer protection, as the pest developed resistance. Tobacco streak virus has also added to the woes of cotton farmers in Kurnool and Nandyal districts, as noted by M. Sivarama Krishna, a scientist in entomology at the Regional Agricultural Research Station (RARS) in Nandyal.In response, many farmers are abandoning cotton in favor of more remunerative short-duration crops such as maize and soybeans. This migration is especially evident in Nandyal, where farmers have assured irrigation from sources like the Kurnool-Cuddapah Canal and Telugu Ganga Canal. In contrast, their counterparts in rainfed Kurnool remain burdened by the pest menace with few alternatives in sight.Dr. Sivarama Krishna suggests several measures to address the issue, including cultivating medium to short-duration and early-maturing Bt hybrids (150 days), implementing a strict six-month crop-free period, and using mating disruption technology for off-season management of pink bollworm. Read More :> SISPA Urges CCI to Prioritize Cotton Sales to MSME Mills
SISPA requests that CCI give MSME mills priority in cotton sales.COIMBATORE: The South India Spinners Association (SISPA) has called for immediate action from the Cotton Corporation of India (CCI) to prioritize the sale of cotton to Micro, Small, and Medium Enterprise (MSME) spinning mills starting July 1. SISPA has also requested the continuation of the current cotton sales policy from CCI for the next three months."The textile sector in India is at a critical juncture, grappling with significant financial strain. Numerous spinning mills have ceased operations due to liquidity crises, high operational costs, and market volatility. These challenges are compounded by a notable decline in yarn and textile exports, as well as increased pressure from imports," stated S. Jagadesh Chandran, Secretary of SISPA.Chandran also warned that selling cotton to traders leads to speculative practices, resulting in inflated prices and market instability.Despite these challenges, there are promising signs of revival within the spinning sector. Recent increases in garment export orders have enabled many mills to resume operations, leading to a growing demand for cotton to meet production needs. "Our request to the CCI is to refrain from diverting cotton stocks of 24 lakh bales, which is just one month of mill consumption. In the last three days, 2.5 lakh bales were sold to mills. If this trend continues, all stock will be sold in a month. We request CCI to stop selling to traders and instead retain these stocks for exclusive sale to mills," he added.Chandran noted that cotton prices suddenly increased from Rs 58,000 to Rs 63,000 per candy four months ago. "At that time, we requested the Ministry of Textiles and CCI not to sell cotton to traders. Based on our request, the Union Ministry of Textiles advised the CCI not to sell cotton to traders. As a result, CCI stopped selling cotton to traders, and the cotton price immediately dropped to Rs 57,000 per candy and remained stable for the last four months. The cotton prices in the open market were also stable because CCI's prices acted as a benchmark. If CCI resumes selling to traders, the prices will rise again," he said.Read More :> Piyush Goyal to Meet Exporters on Thursday
In early trade, the rupee advances 8 paise to 83.49 against the US dollar. Benchmarks hit fresh record highs; Sensex above 79,000, Nifty eyes 24,000Read More :> Cotton Consumption Soars: Textile Industry Thrives Despite Challenges
This evening, the rupee closed 14 paise lower at 83.57 against the US dollar.At the close of trading, the BSE Sensex rose 620.73 points or 0.80% to close at 78,674.25. It touched a new high of 78,759.40 during the day. The NSE 50-share index Nifty rose 120.60 points or 0.51% to close at 23,841.90. It also made a new all-time high of 23,889.90 during the day.Read more:- Cotton Association of India
The textile industry thrives despite challenges as the consumption of cotton soars.Cotton consumption in the 2023-2024 marketing season is set to reach its second-highest level in the past decade, with an estimated demand of 307 lakh bales. Despite rising production costs, Indian textile mills are operating at 75%-80% capacity, and cotton yarn exports are showing significant recovery. Cotton production is expected to reach 325.22 lakh bales, with imports and exports at 12 and 28 lakh bales respectively. However, Indian cotton prices remain higher than international rates, posing challenges for mill owners.HighlightsHigh Cotton Consumption: The current marketing season (October 2023 to September 2024) sees one of the highest cotton consumption rates in the past decade, according to the Ministry of Textiles. Textile Commissioner Roop Rashi estimates a demand of 307 lakh bales, including 103 lakh bales from MSME textile units.Cotton Production and Trade: This season's cotton production is projected at 325.22 lakh bales. The industry expects imports of 12 lakh bales and exports of 28 lakh bales. The closing stock at the end of the season is anticipated to be 47.38 lakh bales.Pricing and Market Dynamics: Indian cotton prices are currently higher than international prices but are not expected to rise further. Textile mills are operating at 75%-80% capacity. If this capacity utilization increases, the cotton requirement will rise accordingly.Cotton Yarn Exports: Cotton yarn exports have revived, now reaching 95-105 million kg per month. This marks a significant recovery compared to April-December 2022, when exports dropped to 50 million kg or less per month.Challenges for Mill Owners: Despite the increase in production and exports, mill owners are facing challenges in achieving better profit margins due to high production costs. This indicates a need for strategies to manage and reduce these costs to improve profitability.ConclusionThe Indian textile industry is experiencing a notable increase in cotton consumption, reflecting robust demand and potential for growth. With mills operating at significant capacity and cotton yarn exports rebounding, the sector shows resilience. However, the challenge of high production costs continues to impact profitability for mill owners. As the season progresses, strategies to optimize costs and improve margins will be crucial. Maintaining a balance between production, pricing, and exports will determine the industry's success in leveraging this consumption boom.Read more :-Piyush Goyal to Meet Exporters on Thursday
On Thursday, Piyush Goyal will meet with exporters.Commerce and Industry Minister Piyush Goyal is scheduled to meet with exporters and industry representatives on Thursday to review India’s export performance and discuss strategies to boost outbound shipments. Key issues expected to be addressed include container shortages, the Red Sea crisis, and export targets, according to officials."It is a review meeting on the state of exports and export promotion," stated an official.In FY24, India’s goods exports totaled $437.1 billion, while imports reached $675.4 billion.The ministry has been developing standard operating procedures for negotiating free trade agreements with other countries, which may be discussed during the meeting, according to sources familiar with the agenda.Exporters are likely to raise the issue of extending the Production-Linked Incentive (PLI) scheme to labor-intensive sectors such as leather and footwear. Additionally, they have already approached the finance ministry regarding the high import duty on wet blue leather, which is essential for producing high-end luxury goods.Separately, gems and jewellery exporters have requested a reduction in the import duty on gold, silver, and platinum bars from the current 10-12.5% to 4% in the forthcoming Budget.Read More :> Cotton Association of India
India Cotton AssociationAs per CAI presentation at Ludhiana national crop committee meeting on dt 14 th june Bullish Factors for the Indian Cotton Market (June 2024 to October 2024)1. Hike in Indian Cotton MSP: The government is likely to increase the Minimum Support Price (MSP) for cotton by 5 to 10%.2. Shortage of Sowing Seed: India requires 450 lakh sowing packets, but only 300 lakh packets are available.3. Reduction in Cotton Sowing Acreage: More land is being allocated to other crops, reducing cotton acreage.4. Increase in Cotton Consumption: If large mills decide to stock up on old cotton for October/November, smaller mills may face a shortage.5. Tight Cotton Balance Sheet: A tighter balance sheet could influence market dynamics.6. Consistent Export Shipments: Exporters are continuing to ship 1 to 1.5 lakh bales per month.7. Delay in Import Shipments: Any delays could impact supply.8. Increase in Yarn Prices: Higher yarn prices will drive up cotton prices.9. Water Shortage: Early sowing percentages have drastically reduced due to water shortages.10. Delayed Sowing in North India: Sowing is down by 30-35% and delayed by a month, with new arrivals expected in the first week of October if conditions improve.11. Weather Risks: Adverse weather in India or other major cotton-growing countries could impact production.12. Delayed Crop Arrivals: Delays in sowing will push back new crop arrivals.13. Marketing Policies: The strategies of MNCs and the CCI need careful monitoring.14. Pent-Up Demand: Improved geopolitical situations may dry up supply chain pipelines.15. US Federal Bank Interest Rate Cut: A cut could lead to bullish trends in all commodities.16. Depression in Dollar Index: A weaker dollar could boost commodity prices.Bearish Factors for the Indian Cotton Market (June 2024 to October 2024)1. ICE Futures Fall: If December 24 ICE futures fall below 70 cents, Indian cotton prices will decline.2. Slow Demand for Cotton Yarn and Cloth: Reduced demand will negatively impact prices.3. Spinning Mills Losses: If spinning mills start losing Rs.20 per kg on yarn, they will reduce cotton consumption.4. Competition from Man-Made Fibers: These fibers are competing with cotton.5. Large Crops in the USA, Brazil, and Australia: These countries' large crops will prevent cotton prices from rising significantly.6. China's Economic Conditions: Economic instability due to simultaneous global conflicts could affect demand.7. Retailers’ Cautious Inventories: Uncertainty is leading retailers to avoid building large inventories.8. Hand-to-Mouth Operations: Most cotton spinning mills worldwide are operating on minimal inventories.Read More :> Cotton Factory Owners and Ginners Express Concern Over Decrease in Crop Area
Ginners and Cotton Factory Owners Worried About Declining Crop AreaThis year, the area under cotton cultivation has fallen below one lakh hectares, despite the state government's target to increase it to two lakh hectares. The Punjab Cotton Factories and Ginners Association is calling for the establishment of a Cotton Development Board to systematically address the issues plaguing the state's cotton industry.The drop in cotton cultivation is attributed to infestations of pink bollworm and whitefly, leading to significant challenges for cotton factories and ginners in the state. The proposed Cotton Development Board aims to streamline efforts and provide targeted solutions to bolster the sector.An interaction was organized between the Punjab Cotton Factories and Ginners Association and scientists from Punjab Agricultural University (PAU) under the chairmanship of Dr. S.S. Gosal, Vice-Chancellor of PAU. The meeting aimed to address pressing issues faced by the cotton industry in Punjab.The association's delegation included Bhagwan Bansal, President; Janak Raj Goel, Vice-President; Pappi Aggarwal, Director; and Kailash Garg, Vice-President of the Punjab Cotton Factories and Ginners Association, Bathinda. They expressed concerns over key issues impacting cotton cultivation in the region. Scientists from PAU and Regional Research Stations in Bathinda and Faridkot also attended.Primary challenges highlighted included the decline in cotton acreage due to pink bollworm infestations, inconsistent supply of high-quality seeds and pesticides, the need for timely canal water availability, and rising costs associated with cotton picking. The delegation also emphasized the urgency for early access to pink bollworm-resistant transgenic cotton hybrids and varieties.In response, Dr. Gosal assured that PAU is conducting trials to evaluate new transgenic cotton varieties resistant to pink bollworm. He emphasized the extensive research and extension activities undertaken by PAU, including close collaborations with Punjab’s farmers. Dr. Gosal also highlighted the critical need for support from the cotton industry to bolster ongoing research at PAU.Dr. A.S. Dhatt, Director of Research at PAU, stated that PAU rigorously evaluates and recommends suitable Bt cotton hybrids annually, tailored for the cotton-growing regions of the state. He underscored the importance of cultivating these recommended hybrids to enhance productivity and effectively combat pest-related problems.Read More :> Indian Cotton Exports Surge 76% in FY24
Rupee falls 3 paise to 83.46 against US dollar in early trade This comes after rupee appreciated 3 paise against the US dollar on Tuesday, tracking a firm trend in domestic equities amid stable global crude oil prices. Read More :> CCI Introduces QR Code Traceability for Cotton Bales in India
India's FY24 Cotton Exports Increase by 76%This year marks the second highest cotton consumption out of the last ten years, as shared by the textile commissioner at the press conference following the committee meeting.Cotton exports increased significantly from 270,130 tonnes in FY23 to 476,000 tonnes in FY24, according to provisional data released by the Committee on Cotton Production and Consumption (COCPC), which met yesterday. This sharp rise highlights the growing demand for Indian cotton in the international market.The textile commissioner noted that this year has seen the second-highest consumption of cotton in the past decade. "To enhance transparency and ensure better quality, every bale is now under QR code traceability, providing information on the village of procurement, the factory where it was processed, and the date of sale," stated Lalit Gupta, Chairman of the Cotton Corporation of India.The provisional data indicates that cotton imports have declined from 248,200 tonnes to 204,000 tonnes. Despite this reduction, cotton production has grown by a nominal 7.7 lakh bales. On the demand side, exports have nearly doubled from 15.89 lakh bales in the 2022-23 cotton season to 28 lakh bales in the 2023-24 season. While non-textile consumption remained stagnant, both MSME and non-MSME consumption saw substantial growth.The COCPC includes all textile industry stakeholders, including representatives from the central government, the textile industry, and the ginning and pressing sectors, according to the Ministry of Textiles' press release. The committee shared detailed data on imports, exports, and cotton consumption by MSMEs and non-MSMEs.This season's supply has been significantly higher than the demand in the previous season. The press release also provided data on state-wise area, production, and yield. Gujarat recorded the highest yield again this season; however, the state's yield in 2023-24 of 574.06 kg per hectare was lower than the 2022-23 yield of 601.91 kg per hectare.The north zone, which includes Punjab, Haryana, and Rajasthan, saw a substantial rise in all three parameters. Despite an increase in the area under production, Rajasthan experienced a reduction in both cotton production and yield.Madhya Pradesh saw the highest increase in yield, resulting in a higher production of 18.01 lakh bales of 170 kg each during the 2023-24 season compared to 14.33 lakh bales in the 2022-23 season.Conversely, the south zone, which includes Telangana, Andhra Pradesh, Karnataka, and Tamil Nadu, experienced a reduction in production over the year 2023-24. Nevertheless, the south zone's production of 81.30 lakh bales exceeded that of the north zone, which stood at 47.60 lakh bales.Read more :- CCI Introduces QR Code Traceability for Cotton Bales in India
India's CCI Offers QR Code Traceability for Cotton BalesThe Cotton Corporation of India (CCI) has taken a significant step towards enhancing transparency in the traceability of cotton produced in India by introducing QR codes for each bale. This initiative will allow buyers to access relevant information about the cotton, such as the village of procurement, the processing factory, and the date of sale, via a QR code.Lalit Kumar Gupta, Chairman and Managing Director of CCI, announced this initiative during the third meeting of the Committee on Cotton Production and Consumption (COCPC) for the Cotton Season 2023-24, held yesterday in Mumbai. Gupta emphasized the importance of this move in providing detailed traceability for every bale of cotton.The meeting, chaired by Textile Commissioner Roop Rashi, included representatives from the central and state governments, the textile industry, the cotton trade, and the ginning and pressing sectors. The participants discussed the cotton scenario, covering state-wise area, production, import, export, and consumption.In a post-meeting press conference, Rashi assured that the industry would have adequate raw material availability. She noted that cotton consumption has increased, marking the second-highest level of consumption in the past ten years. "The industry is on a good path, and we look forward to better consumption statistics," she added.According to the COCPC, the total supply of cotton for the current season 2023-24, ending September 30, is estimated at 398.38 lakh bales of 170 kg each. This includes an opening stock of 61.16 lakh bales, production of 325.22 lakh bales, and imports of 12 lakh bales. Last season, the total supply was 390.68 lakh bales, with 39.48 lakh bales as opening stock, 336.60 lakh bales of production, and 14.60 lakh bales of imports.The closing balance for the current season is projected to be 47.38 lakh bales, compared to 61.16 lakh bales last season. Total demand is expected to increase to 351 lakh bales this season, up from 329.52 lakh bales last year. Exports are also anticipated to rise from 15.89 lakh bales to 28 lakh bales this season.Read more :- TASMA Urges CCI Not to Sell Cotton to Traders
The rupee strengthened by 3 paise to close at 83.43 against the US dollar this evening.At the close of trading, the BSE Sensex rose 712.45 points or 0.92% to close at 78,053.52. It touched a new high of 78,164.71 during the day. The NSE's 50-share index Nifty rose 183.45 points or 0.78% to close at 23,721.30. It also made a new all-time high of 23,754.15 during the day.READ MORE:- Farmers in Karaikal Feel Relieved as Cotton Prices Rise
Farmers in Karaikal Feel Relieved as Cotton Prices RiseKaraikal farmers have found relief as cotton prices have improved, surpassing the minimum support price (MSP) at the regulated market on the first day of auction. This forced private traders to increase their prices as well.In recent weeks, cotton prices had fallen below ₹50 per kilogram in the open market in Karaikal. However, on Saturday, the weekly cotton auction began at the Agriculture Department’s Regulated Market in the town, and the price of cotton rose to ₹68 per kilogram, compared to the MSP of ₹66 per kilogram. As a result, private traders offered ₹62 per kilogram on Sunday in the district.Approximately 85 quintals of cotton were brought to the Regulated Market by farmers. The maximum price reached ₹7,190 per quintal, with a minimum of ₹6,289 and an average of ₹6,739 per quintal, according to J. Senthil, Secretary of the Karaikal Marketing Committee.Mr. Senthil credited the presence of mill representatives from Tamil Nadu for the good rates farmers received. "We have learned that private local traders have now increased their prices. We urge farmers to take advantage of the weekly Saturday auctions," he added.N. Palaniraja, a farmer from Melaoduthurai village, expressed satisfaction with the outcome. "Earlier, traders offered only ₹45 to ₹52 per kilogram. We waited to sell our produce through the regulated market and are happy with the good price we received. Farmers are often cheated by middlemen, so we appreciate the Regulated Market’s efforts in organizing the auction," he said.Read more :- Cotton Area Shortfall Poses Challenge for Textile Industry
TASMA Requests CCI Not to Provide Traders with CottonThe Tamil Nadu Spinning Mills Association (TASMA) has appealed to the Cotton Corporation of India (CCI) to avoid selling unsold cotton stocks to traders. In a letter to CCI, TASMA President A.P. Appukutti highlighted the recent positive revival in the spinning sector due to the influx of garment orders. "Spinning mills are experiencing a resurgence, and their normal activities are picking up again. This resurgence means they will require more cotton," Appukutti stated.Appukutti emphasized the importance of CCI retaining its cotton stocks, expressing confidence that TASMA members will lift the stocks by the end of August. He warned that selling cotton to traders could lead to a cascading effect on the value chain. Traders, driven by profit motives, might escalate costs, which would adversely affect the spinning mills.By ensuring that the cotton stocks remain with CCI and are available to the mills, TASMA believes it can prevent a raw material shortage. This approach is seen as essential for maintaining the steady supply needed to support the ongoing revival in the spinning sector. The association's request underscores the need for strategic management of cotton stocks to safeguard the interests of the spinning mills and ensure the stability of the textile industry.Read More :> India's monsoon advances, set to bring relief from heatwave
Rupee against dollar opens at 83.46.At the interbank foreign exchange market, the local unit opened at 83.46 and gained further to trade at 83.44 against the greenback in initial deals, registering an increase of 3 paise from its previous closing level.READ MORE :> Cotton Area Shortfall Poses Challenge for Textile Industry
This evening, the rupee gained 7 paise against the US dollar to settle at 83.46.At the close of trading, the BSE Sensex rose 131.18 points or 0.17% to close at 77,341.08. The NSE's 50-share index Nifty rose 36.75 points or 0.16% to close at 23,537.85.Read more :- Cotton Area Shortfall Poses Challenge for Textile Industry
| title | Created At | Action |
|---|---|---|
| India's monsoon overcomes delay, set to cover country on time | 28-06-2024 00:51:03 | view |
| This evening, the rupee strengthened by 11 paise to close at Rs 83.46 against the dollar. | 27-06-2024 23:56:12 | view |
| Brazil to Surpass US as Top Cotton Exporter | 27-06-2024 19:23:05 | view |
| Indore Division Farmers to Sown Kharif Crops on Nearly 21 Lakh Hectares | 27-06-2024 19:04:04 | view |
| Cotton Loses Its ‘Most Profitable Crop’ Status in Andhra Pradesh’s Undivided Kurnool District | 27-06-2024 18:34:05 | view |
| SISPA Urges CCI to Prioritize Cotton Sales to MSME Mills | 27-06-2024 18:14:28 | view |
| Rupee rises 8 paise to 83.49 against US dollar in early trade | 27-06-2024 17:31:02 | view |
| This evening, the rupee ended at 83.57 against the US dollar, marking a decrease of 14 paise | 26-06-2024 23:47:40 | view |
| Cotton Consumption Soars: Textile Industry Thrives Despite Challenges | 26-06-2024 23:24:04 | view |
| Piyush Goyal to Meet Exporters on Thursday | 26-06-2024 20:16:58 | view |
| Cotton Association of India | 26-06-2024 19:51:12 | view |
| Cotton Factory Owners and Ginners Express Concern Over Decrease in Crop Area | 26-06-2024 18:41:12 | view |
| Rupee falls 3 paise to 83.46 against US dollar in early trade | 26-06-2024 17:27:59 | view |
| Indian Cotton Exports Surge 76% in FY24 | 26-06-2024 00:50:49 | view |
| CCI Introduces QR Code Traceability for Cotton Bales in India | 25-06-2024 23:58:11 | view |
| This evening, the rupee gained 3 paise against the US dollar to settle at 83.43. | 25-06-2024 23:42:39 | view |
| Farmers in Karaikal Feel Relieved as Cotton Prices Rise | 25-06-2024 19:50:17 | view |
| TASMA Urges CCI Not to Sell Cotton to Traders | 25-06-2024 19:01:39 | view |
| Rupee opens at 83.46 vs dollar | 25-06-2024 17:30:17 | view |
| The rupee strengthened by 7 paise to close at 83.46 against the US dollar this evening. | 24-06-2024 23:49:57 | view |
