Price of quality raw cotton has risen up to Rs 6,000 per quintal this week in the open market. The minimum support price for the best grade of cotton is only Rs 5,825 per quintal. As a result, cotton procurement by the Cotton Corporation of India (CCI) has virtually come to a standstill. Only a […]
Record U.S. shipments through December are supporting a stronger U.S. export forecast at 15.25 million bales, despite production falling 5.0 million bales from the previous year, the U.S. Department of Agriculture said in its latest monthly report. China has accounted for almost half of U.S. exports in the first 5 months, with the country’s total […]
Paddy procurement has increased by 25 per cent in this kharif marketing season so far to 449.83 lakh tonnes at the minimum support price (MSP), valued at Rs 84,928.10 crore. “In the ongoing Kharif Marketing Season (KMS) 2020-21, Government continues to procure Kharif 2020-21 crops at its MSP from farmers as per its existing MSP […]
The Centre has procured cotton worth Rs 14,654 crore in the first two months of the current marketing year that started on October 1, benefitting around 9.63 lakh farmers. These farmers have already received Rs 11,799 crore in their bank accounts this year, Union textile minister Smriti Irani said. Cotton procurement had stood at a […]
Paddy procurement in the ongoing kharif marketing season has so far increased by 21 per cent to 375.72 lakh tonnes, valued at Rs 70,937.38 crore. In the ongoing kharif marketing season (KMS) 2020-21, the government continues to procure kharif 2020-21 crops at its MSP (minimum support price) from farmers, an official statement said. The Kharif […]
World’s cotton ending stocks are expected to decline by 3.9 million bales during 2020/21 at 97.5 million bales, reflecting lower production and higher consumption, according to the US Department of Agriculture (USDA). The stocks will drop by 1.9 million bales from last year’s level. The decline in production by 2.2 million bales during the year […]
Fears of a fresh Covid wave have led to a rise in daily cotton arrivals to 2.5-3.00 lakh bales, with farmers wanting to sell their stocks on hand before another lockdown happens, Financial Express reports. This has resulted in cotton prices testing levels of between Rs 5,300 and 5,850 per quintal, from Rs 6,000 in […]
Cotton exports from India are likely to jump by 40 per cent in 2020-21 to 7 million bales of 170 kgs each, the highest in seven years, Financial Express reports. Depreciation of the rupee and a rally in global prices have allowed exporters to clinch contracts. India had exported nearly 5 million bales in the […]
The world will be producing less cotton than what was expected for the current marketing year, which will ease a cycle of downward prices since the pandemic, says the International Cotton Advisory Committee (ICAC). Production of cotton this year has been revised down to 24.7 million tons from 24.9 million tons estimated earlier. The recovery […]
The government of Maharashtra has directed the companies selling hybrid cotton seeds to specify in detail the technology used in production of seeds on the pack, reports Financial Express. Seed companies in Maharashtra and other cotton producing states have expressed displeasure at this decision. Dilip Zende, director, quality control, Department of Agriculture, Maharashtra, told Financial […]
