China’s cotton imports seen lower on high stocks, subdued consumption, says USDA

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China 2021/22 cotton imports are forecast to fall more than 4.3 million bales from the previous year to 8.5 million, down 300,000 bales this month and significantly less than previous projections, the US Department of Agriculture said in its latest monthly report. It said this was mainly because massive earlier imports were still in bonded […]

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Minimum Support Price for paddy hiked by Rs 100 to Rs 2,040 per quintal for 2022-23; other kharif crops MSP also hiked

India hiked the minimum support price for kharif crops by 4-9 per cent for the 2022-23 crop year, with paddy MSP being raised by Rs 100 to Rs 2,040 per quintal. The Cabinet Committee on Economic Affairs (CCEA) approved the increase in MSPs for all 14 kharif (summer) crops for 2022-23 crop year. “The MSP […]

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India’s food grain output estimated at record 314 million tonnes for 2021-22 crop year (July-June)

India’s foodgrain production will rise 1.2% on year to a new record of 314.51 million tonnes (MT) for the 2021-22 crop year (July-June), according to the third advance estimate released by the agriculture ministry. In the second advance estimate released in February, the production was seen at 316.06 MT. Wheat production estimate for the current […]

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Global cotton area, output and consumption seen up as 2021/22 season winds down – ICAC

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As the 2021/22 global cotton season comes to an end in about 13 weeks, the industry posted gains in most major categories vs the previous season, with area, production and consumption all increasing vs 2020/21, the International Cotton Advisory Committee (ICAC) said in its latest monthly report. One of the few exceptions is world trade, which […]

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Global cotton logistics seen improving after Covid struggle – ICAC

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Global cotton logistics might be starting to sort themselves out after a long and painful struggle through the Covid pandemic, the International Cotton Advisory Committee (ICAC) said in its latest monthly report, adding that the conclusions were drawn solely from US export data. “The USA has greater means to effect changes than most other countries […]

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Credit outlook for India’s cotton spinners positive despite capex, says CRISIL

Healthy cash accruals, supported by better-operating profits, and deleveraged balance sheets will keep the credit outlook positive for cotton spinners, despite higher planned capital expenditure (capex) and working capital requirements. Higher spreads1 between cotton and cotton yarn (refer annexures), together with buoyant domestic and export demand, and increased capacity utilisation levels, will push up the operating […]

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