Government decides MSP for farmers, why not HSP for industry?There is no doubt about the fact that the country runs from farmers, but the contribution of industry in the economy of the country should not be denied. Talking about cotton itself, the government fixes the MSP so that the farmers do not suffer any loss, but why no measures like HSP are taken to check the rising prices of cotton. Mukesh Jain, a spinning mill owner from Akola, said this troubled by the current policies of the government, especially the record high cotton prices.Actually, SIS spoke to people from different segments of the industry on the current scenario of the textile industry and tried to know their opinion, as well as questioned that the sowing season of Kharif crops has started. But, the government has not provided the figures of cotton sown so far. Whereas in early June last year, the government had released its report on the sleeping area. Know the thoughts of cotton industry spinners, ginners, brokers and traders-Up to 30 percent more crop expected in HaryanaKapur Chand Kochhar from Padmavati Agro, Maharashtra said that this time it is being said that the percentage of cotton crop will be higher, but no official comment has come yet on how much. We keep talking to the traders of Maharashtra, Punjab and Haryana, on the basis of that we estimate that 10 to 15 percent crop is expected in Maharashtra and 25 to 30 percent in Haryana. However, the correct estimate can be made only after the rain.The higher the seed sales, the higher the estimated cropRajesh Gupta, a broker who has been associated with the cotton industry for a long time, says that crop estimation makes business easier. But, the sleeping has just started, so it is not right to question the government from now on for the figures. The data will be being gathered now. The government will submit the report as soon as the facts come to light. Although the crop is correctly estimated from the report of the month of October itself. It is clear from the figure of seed sales this season that the crop must have grown by 5 to 10 per cent as compared to last year.Government should control cotton pricesSpinning mill owner Mukais Jain said that talking about the data in the cotton industry, India is far behind compared to other countries. There is also a lot of confusion in the data provided here. Keeping in mind the convenience of the traders, the government needs to change its policies. Firstly, exports should be banned and then measures should also be taken to check the unbridled rise in cotton prices.
Rupee depreciates against dollar, loses 3 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 3 paise at Rs 77.65 against the dollar. At the same time, on Friday, the rupee closed at Rs 77.62 with a weakness of 2 paise against the dollar.
Sensex collapses as soon as it opens, registers a fall of 86 pointsToday the stock market opened with a fall. Today the BSE Sensex fell by about 86.08 points and opened at the level of 55683.15 points. On the other hand, NSE's Nifty fell by 23.50 points to open at the level of 16560.80 points.
All India Weather Forecast for June 6, 2022Weather systems made across the countryA cyclonic circulation is persisting over eastern part of Uttar PradeshA trough is extending from this cyclonic circulation to Nagaland across Bihar, Sub-Himalayan West Bengal and Assam.Another trough is extending from Bihar to North Coastal Andhra Pradesh across Jharkhand and Chhattisgarh.A cyclonic circulation lies over east central and adjoining southeast Bay of Bengal at 3.1 to 7.6 km above sea level.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over Assam, Meghalaya and Arunachal Pradesh.Rest of Northeast India, Andaman and Nicobar Islands, Sub-Himalayan West Bengal, Sikkim and parts of Odisha received light to moderate rains.Light to moderate rain occurred over Gangetic West Bengal, eastern parts of Jharkhand, Kerala, Tamil Nadu, South Interior Karnataka and one or two places over Vidarbha and Jammu and Kashmir.Heat wave conditions were observed over many parts of Delhi and at isolated places over Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Haryana, South Uttar Pradesh, North Madhya Pradesh, East Vidarbha, North Rajasthan, Odisha and Chhattisgarh.Probable weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls very likely over Northeast India, Andaman & Nicobar Islands, South Interior Karnataka and Coastal Karnataka.Light to moderate rain may occur over Lakshadweep, Kerala, Interior Tamil Nadu, Sub-Himalayan West Bengal, Sikkim, parts of Gangetic West Bengal and North Interior Karnataka.Light rain is possible over eastern parts of Bihar, South Konkan and Goa and Jammu and Kashmir.Heat wave conditions are possible over many parts of Delhi and at isolated places over Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Haryana, South Uttar Pradesh, North Madhya Pradesh, East Vidarbha, North Rajasthan Odisha and Chhattisgarh.
Today evening, the rupee depreciated by 2 paise to close at Rs 77.62 against the dollar.Heavy morning rush turned into evening decline, 49 points brokenThe stock market, which opened with a huge boom this morning, again came under the grip of a fall in the evening. Today, where the Sensex closed at the level of 55769.23 points down by about 48.88 points.On the other hand, Nifty closed at 16584.30 with a gain of 43.70 points.
Sowing of Kharif crops gets low as compared to the previous year by June 03rdThe sowing of kharif crops gets started with the onset of June. The major crops that are sown in the season are pulses, cereals, rice, oilseeds, cotton, sugarcane etc. As per the report generated by the government here is the comparative analysis of sowing area of kharif crops( in lakh hectare) in the month of June in last year and the current year.Pulses including arhar, kulthi, urad, moong has been sown in 1.09 ( lakh hectare) area which was sown in 0.81 last year , which records a difference of 35.08% increase of sowing area.Rice being a major kharif crop has recorded downfall in terms of sowing that is the difference of 0.14 lakh hectare.If we talk about oilseeds, there’s no apparent difference in sowing it was 0.37 by the start of June in last year and current year as well.As far as Jute and Mesta are concerned they have covered a little lesser area than the last year that is 6.45 in 2021 and 6.31 in 2022.Last but not the least; the government has not revealed any data of plantation of cotton seeds yet. But, if we look at the last year’s data, cotton had covered 13.55 lakh hectare area.In essence, By this time in last year kharif crops had already been sown in 72.28 lakh hectare area, which is merely 10.02 this year which is clearly 86.13% less.
Government unable to cater the data of sowing of cottonEven after the start of sowing season of one of the major kharif crops cotton, the government has still not provided the facts of cotton sown in terms of area covered. Cotton being a major commodity for traders, millers, spinners, ginners and many others, its information is crucial to every sector. The unavailability of the amount of crop sown can affect severely every entity associated with it.However, if we take a look at the last year’s data, by the start of June the cotton crop had already been sown in 13.55 lakh hectare area. On this basis, industry owners and others can speculate the quantity of plantation but it’s quite risky to make sensitive moves without being available with crisp data.
Rupee opens 12 paise stronger against dollarRupee opened with strength today against the dollar in the foreign exchange market. Today the rupee opened with a strength of 12 paise at Rs 77.48 against the dollar. At the same time, on Thursday, the rupee closed at Rs 77.60 with a weakness of 9 paise against the dollar.
All India weather forecast for June 3, 2022Weather systems made across the countryparts of central Arabian Sea, some more parts of Karnataka, parts of Konkan and Goa, parts of Tamil Nadu, parts of southwest Bay of Bengal, west central and northeast Bay of Bengal, and parts of northeast India Conditions are becoming favorable for further advance of Southwest Monsoon into sub-Himalayan West Bengal and Sikkim during next 24 to 48 hours.A Cyclonic Circulation lies over Southeast Uttar Pradesh and adjoining region.A trough is extending from a cyclonic circulation over Southeast Uttar Pradesh to East Bangladesh across South Bihar, Jharkhand and Gangetic West Bengal.The Cyclonic Circulation lies over South Bangladesh and adjoining North West Bay of Bengal, extending up to 5.8 km above sea level. Leaning to the south with altitude.A windswept john between 3.1 and 5.8 km can be seen at 10°N latitude in the South Peninsula.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated falls occurred over northern parts of Andaman and Nicobar Islands, parts of Manipur, Meghalaya, Sikkim and one or two parts of Kerala and Lakshadweep.Light to moderate rain occurred at isolated places over rest of North East India, Interior Tamil Nadu, Coastal and North Interior Karnataka, parts of North and East Uttar Pradesh and Jharkhand.Light rain occurred over Chhattisgarh, Coastal Andhra Pradesh, Konkan and Goa and parts of Jammu and Kashmir.Dust storm, thunderstorm and light rain occurred in parts of Haryana and North Rajasthan of Delhi.Heat wave is prevailing in different parts of North Madhya Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain with one or two parts of Sikkim, North East India, parts of Andaman and Nicobar Islands, Lakshadweep, Rayalaseema and South Interior Karnataka and Kerala is likely to occur at isolated places.Light to moderate rain may occur over Coastal Karnataka, Interior Tamil Nadu, Sub-Himalayan West Bengal and Jammu and Kashmir.Heat wave is possible in isolated parts of Rajasthan, South-West Uttar Pradesh and Madhya Pradesh.
Rupee slips 10 paise to close at 77.60 against US dollarThe rupee depreciated by 10 paise to close at 77.60 (provisional) against the US dollar on Thursday, even as oil prices eased and domestic equities settled on a positive note.Sensex rebounds after 2-day hiatus, ends 437 pts higher; Nifty tops 16,600; RIL up 4%, Adani group stocks rally up to 5%sensex jumping 437 points amid heavy buying in index heavyweight Reliance Industries and positive trends from European markets. The 30-share BSE Sensex jumped 436.94 points or 0.79 per cent to settle at 55,818.11. During the day, it gained 510.75 points or 0.92 per cent to 55,891.92. The broader NSE Nifty climbed 105.25 points or 0.64 per cent to finish at 16,628.
Powerloom units resumes production in Coimbatore and Tirupur districts after yarn price hikeMost of the powerloom units in Tirupur and Coimbatore have resumed their operation which was halted in protest of rise of yarn rates, on Wednesday.The job work weavers who depend on beams manufactured by powerlooms were greatly suffering by the stoppage of operations and thus for their sake the units started them again as told by, K Sakthivel, co-ordinator of Tirupur and Coimbatore Textile Manufacturers Federation. We are also looking forward to shift to artificial yarns like polyester and rayon to keep the working on. Units will start working with cotton again as soon as the price drops, he added.On the other side, G Venkatesan, vice president of South India Spinners Association said the spinning mills will continue to strike by cutting their production. They are operating on 40% capacity just to keep the spindles in good condition.
Rupee collapses against dollar, opens weak by 9 paiseRupee opened with weakness today against the dollar in the foreign exchange market. Today the rupee opened with a weakness of 9 paise at Rs 77.61 against the dollar. At the same time, on Wednesday, the rupee closed at Rs 77.52 with a strength of 12 paise against the dollar.
The country's wheat output is estimated to drop by about 3 per cent to 106.41 million tonnes in the 2021-22 crop year (July-June) from the previous year, agriculture ministry said in its latest estimate released on Thursday. The production is, however, lower by 4.61 per cent from the earlier estimate of 111.32 million tonnes projected for the 2021-22 crop year, the data showed.
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High cotton prices are plaguing textile firms, and many mills are being forced to shut operations. This situation could have been avoided with some corrective measures.
All India Weather Forecast for June 1, 2022Weather systems made across the countryThe Western Disturbance is being seen as a cyclonic circulation over Jammu and Kashmir and adjoining parts of Pakistan.The Induced Cyclonic Circulation lies over Northwest Rajasthan and adjoining areas.A Low Pressure Line is extending from a cyclonic circulation over West Rajasthan to Bangladesh across Haryana, Uttar Pradesh and Bihar.A Cyclonic Circulation is persisting over Jharkhand and adjoining areas.A cyclonic circulation lies over North Kerala and Karnataka coast over Southeast Arabian Sea at 3.1 to 4.5 km above mean sea level.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over Lakshadweep, Andaman and Nicobar Islands and Kerala.Light to moderate rain occurred over Coastal and South Interior Karnataka, parts of Rayalaseema, Sub-Himalayan West Bengal, parts of Assam, Meghalaya, Nagaland, Himachal Pradesh and Jammu and Kashmir.Light rain occurred over Telangana and Chhattisgarh and at isolated parts of North Interior Karnataka, Vidarbha and South-East Rajasthan.Dust storm, rain accompanied by thunderstorm and isolated hailstorm occurred over Haryana, Delhi NCR and western parts of Uttar Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated places will occur over Northeast India, Sub-Himalayan West Bengal, Sikkim, Andaman and Nicobar Islands, Lakshadweep, parts of Kerala, Coastal Karnataka, South Interior Karnataka, Interior Tamil Nadu and Rayalaseema. But there is a possibility of heavy rain.Light to moderate rain is possible over parts of Jammu and Kashmir and Himachal Pradesh.Light rain is possible over Telangana and North Interior Karnataka.Light rain is possible over Uttarakhand, Vidarbha, Marathwada, South Madhya Maharashtra, South Chhattisgarh, Coastal Andhra Pradesh and one or two parts of Odisha.Scattered rain and thundershower activities are possible over Haryana, Delhi and West Uttar Pradesh.
All India Weather Forecast for May 31, 2022Countrywide weather systemsThe Cyclonic Circulation lies over Southeast Arabian Sea and adjoining Kerala, it extends up to 5.8 km above mean sea level.A Western Disturbance as a cyclonic circulation lies over North Pakistan and adjoining Jammu and Kashmir.An East West Trough is extending from Northwest Rajasthan to Assam passing through Haryana, Uttar Pradesh, Bihar and Sub-Himalayan West Bengal.Weather movement across the country during the last 24 hoursDuring the last 24 hours, Lakshadweep, Kerala, Jharkhand and Northeast Bihar received light to moderate rain with isolated heavy rains.Light to moderate rain occurred at isolated places over Sub-Himalayan West Bengal, Andaman and Nicobar Islands, Telangana, North Coastal Odisha and North East Madhya Pradesh.Light to moderate rain occurred at isolated places over Interior Odisha, parts of Chhattisgarh, East MP, West Uttar Pradesh, Uttarakhand and Delhi NCR, East Rajasthan, Haryana and Assam.Weather activity likely during next 24 hoursDuring the next 24 hours, light to moderate rain at isolated places is possible over Lakshadweep, Sikkim and Sub-Himalayan West Bengal, Assam and Meghalaya.Rest of Northeast India, Andaman & Nicobar Islands, Kerala, parts of Tamil Nadu, Coastal Karnataka, Northeast Bihar and Western Himalayas may receive light to moderate rains.Light rain is possible over Jharkhand, Odisha, Gangetic West Bengal, Interior Karnataka, Andhra Pradesh and Chhattisgarh, Vidarbha, Marathwada and parts of Konkan and Goa.
All India Weather Forecast for May 30, 2022Countrywide weather systemsThe Western Disturbance is over North Pakistan and adjoining Jammu and Kashmir.The Induced Cyclonic Circulation lies over Central Pakistan and adjoining Punjab.A trough is running from South Punjab to Bihar passing through South Haryana and Uttar Pradesh.At low levels, circulation is persisting over northern part of Odisha.Another Cyclonic Circulation is persisting over North Interior Karnataka and adjoining region.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain occurred over Andaman & Nicobar Islands, Lakshadweep, Kerala, Coastal Karnataka, West Bengal, Sikkim, parts of Uttarakhand, Himachal Pradesh, North Punjab, Goa and Coastal Odisha.Light rain occurred over Sikkim, South Konkan and Goa, parts of Haryana, Uttar Pradesh and East Madhya Pradesh and one or two parts of Chhattisgarh, Jharkhand and Andhra Pradesh.Weather activity likely during next 24 hoursDuring the next 24 hours, conditions are becoming favorable for the onset of Southwest Monsoon over Kerala, parts of Arabian Sea and Lakshadweep region.Light to moderate rain with isolated heavy falls very likely over Sub-Himalayan West Bengal, Sikkim, Meghalaya, Arunachal Pradesh, Nagaland and Lakshadweep region.Light to moderate rain is possible over Bihar, Kerala, Andaman & Nicobar Islands, Tamil Nadu, South Karnataka and foothills of Western Himalayas.Light rain is possible at isolated places over South India Karnataka, Andhra Pradesh, Telangana, Konkan & Goa, South Chhattisgarh, parts of Odisha and Gangetic West Bengal, Jharkhand and Marathwada.
All India Weather Forecast for May 26, 2022Weather systems made across the countryThe Western Disturbance is over Jammu and Kashmir and adjoining areas. It is moving towards east.An Induced Cyclonic Circulation lies over Southwest Rajasthan.A trough is extending from this cyclonic circulation to Northeast Arabian Sea.A Cyclonic Circulation is persisting over Jharkhand.Conditions are becoming favorable for further advance of Monsoon into some parts of southeast Arabian Sea, Maldives and Comorin region, parts of south and east central Bay of Bengal and northeast Bay of Bengal during next 48 hours. ,Weather movement across the country during the last 24 hoursDuring the last 24 hours, one or two heavy rains occurred over East Assam, Coastal Andhra Pradesh and Tamil Nadu.Light to moderate rain occurred over parts of Assam, Tripura, parts of Bihar, Gangetic West Bengal, Andaman and Nicobar Islands, Interior Tamil Nadu, Kerala, Himachal Pradesh and Uttarakhand.Light rain occurred over Jharkhand, Chhattisgarh, Madhya Pradesh, central and eastern parts of Uttar Pradesh, East Rajasthan and Lakshadweep. Light rain occurred in one or two parts of Telangana, Odisha, North Konkan and Gujarat.Weather activity likely during next 24 hoursDuring the next 24 hours, one or two heavy spells of rain with light to moderate rains are likely over eastern parts of Assam, Arunachal Pradesh, Kerala and South Coastal Karnataka.Light to moderate rain is possible over Sikkim, Sub-Himalayan West Bengal, parts of Bihar, East Madhya Pradesh, Tamil Nadu, Andaman and Nicobar Islands and Lakshadweep.Light rain is possible over Jammu and Kashmir, Uttarakhand, Himachal Pradesh, South and East Uttar Pradesh, Chhattisgarh, Andhra Pradesh, South Interior Karnataka and Telangana. Light rain is possible over Konkan and Goa and one or two parts of Odisha.Heat wave conditions are very likely over some parts of West Rajasthan.
Small scale spinning mills decides to stop buying cottonThe constant increasing prices of cotton are leaving its impact on every sector. The small sized spinning mills deny buying cotton to make yarn for weaving purpose. They announce to close their operations until the price drops to a considerable level.They also accused the big traders and MNCs of hoarding and speculation even in the time of crop crisis.Cotton prices increases to more than 120% in a year and is costing 1.10 lakh per candy currently. Smaller spinning units whose turnover is less than Rs 50 Cr find it extremely difficult to afford the crop at current rates.South India Spinning Association (SISPA), president, J Selvan, asserts that they are lacking of working capital to purchase cotton. As the cotton prices increased to 53% since January, we could raise the price of yarn merely by 21%, he added.Jagdish Chandran, secretary of SISPA alleged that big trading firms and large MNCs had stocked much of the cotton at the start of season and now increasing rates on almost regular basis.The end user that is the customer is no exception in getting affected by such soaring prices. They are spending 7-10% more for their casual summer apparels and will approximately pay 15-20% higher in the festive season.