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Indian farmers have planted 39.8 million hectares (98.3 million acres) with rice, up 3.7% on the same period last year, farm ministry data showed on Friday, as record high prices prompted farmers to expand the area. Higher rice planting could alleviate supply concerns in the world's second biggest producer and consumer of the grain. India surprised buyers in July by imposing a ban on the export of widely consumed non-basmati white rice, following a ban on broken rice exports last ye...
India`s rice area grows on higher prices, cotton sowing lags
Indian farmers have planted 23.7 million hectares with summer-sown rice so far, according to the farm ministry's latest data, up 1.71% year-on-year, as crucial monsoon rains revived in July and helped farmers accelerate sowing. Higher rice planting in India, the world's second biggest producer of the grain, will ease concerns about the lower output of the staple. Earlier this month, India ordered a halt to its largest rice export category - a move that will roughly halve shipmen...
India`s rice planting gathers pace as monsoon rains revive
Greaves Cotton is currently trading at Rs. 138.45, up by 0.95 points or 0.69% from its previous closing of Rs. 137.50 on the BSE. The scrip opened at Rs. 137.75 and has touched a high and low of Rs. 140.40 and Rs. 137.45 respectively. So far 65030 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 184.50 on 08-Sep-2022 and a 52 week low of Rs. 118.70 on 14-Mar-2023. Last one week high and low of the scrip stood at ...
Greaves Cotton rises as its step down arm enters into strategic partnership with Vidyuttech
The rating agency ICRA in its latest report has said that the despite lower revenues, operating margins of Indian cotton spinning companies is likely to improve by 50 - 100 bps to 11.5%-12% in FY2024. The spinners are expected to benefit from the operating efficiencies arising from higher volumes, and lower logistics expenses as the blockages at the ports in various regions have started to ease, accompanied by a reduction in container freight rates. Nonetheless, profits and cash accruals of s...
Operating margins of Indian cotton spinning companies likely to improve to 11.5%-12% in FY24: ICRA
India's cotton production in 2022/23 is set to fall to the lowest level in 14 years and below domestic consumption for the second straight year as yields dropped in producing states, a leading trade body said on Wednesday. Lower production will reduce exports from the world's biggest producer in the current marketing year ending on Sept. 30 and support global prices. It could also lift domestic prices and weigh on margins of local textile companies. Production could fall t...
India`s cotton output could fall to 14-year low-trade body
In less than one month cotton prices have fallen from a peak of Rs 2500 for 20 kgs to Rs 1600 on December 30. The farmers complain that when they are in need of money, in the months of December and March, the prices fall. The present prices can't even cover the production cost. Traders and experts say the domestic and international markets are down, there are no buyers, because of which yarn and cloth manufacturing units are functioning at 50 percent capacity. Raju Patel, a farmer f...
Gujarat farmers cry foul as cotton prices drop, traders say market is dull
Indian institutions are "deeply engaged" in the development Of genetically modified seeds for 13 crops, including rice, wheat and sugarcane to improve their yield and quality, the government said on Friday. The environment ministry in October granted clearance for indigenously developed GM mustard seeds, potentially paving the way for a commercial release of the country's first food crop in about two years. Cotton is the only GM crop currently allowed for cultivation in In...
India `deeply engaged` in developing GM seeds for 13 crops
Punjab ranks second in the country in average monthly income per agricultural household. This fact came to light in a data provided by Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar in the ongoing session of Rajya Sabha. The minister was replying to a question by Aam Aadmi Party's Rajya Sabha member Sanjeev Arora. As per information, Meghalaya tops across the country with average monthly income per agricultural household (Rs 29,348). Punjab (Rs 26,701) is ...
Punjab ranks second in average monthly income per agricultural household: Centre
India needs to allow duty-free imports of cotton as higher raw material prices have reduced textile mills' capacity use, a leading trade body told the government on Wednesday. Cotton imports into India, the world's biggest producer of the fibre, attract 11% duty, which makes the imports financially unviable, the Cotton Association of India (CAI) said in a letter to Textile Minister Piyush Goyal. India cotton is nearly 15% more expensive than cotton of other origins, and the high...
Indian trade body seeks duty-free imports of cotton
Indian traders are struggling to export cotton despite higher production as farmers are delaying sale of their harvest hoping for higher prices in coming months, industry officials told Reuters. The limited supplies are keeping local prices significantly above the global benchmark, making overseas sales unviable from the world's biggest producer of the fibre. (Graphic: Higher cotton prices make Indian exports unviable - "Harvesting of the new crop sta...
India`s cotton exports stall as farmers delay sales hoping for higher prices
Union minister Piyush Goyal has said that India's textiles sector aims to hit $100 billion exports in 5-6 years, which would take the industry's combined domestic and international economic value to $250 billion. He said outbound shipments from the country's textiles segment stood at around $42 billion in 2021-22. The minister said manufacturers should start securing cotton to meet their demands. Besides, all those involved with cotton industry should meet to discuss the strate...
India's textiles sector aims to hit $100 billion exports in 5-6 years : Piyush Goyal
India is likely to produce 34.4 million bales of cotton in the 2022/23 season that started on Oct. 1, up 12% from a year ago after farmers expanded the crop area, a trade body said on Tuesday. The rise in output in the world's biggest producer of cotton could weigh on global prices that have corrected sharply after rising earlier this year to their highest in a decade. The cotton crop area has increased by around 10% and per-hectare yields are also likely to rise this year, Atul Gan...
India cotton output seen rising 12% on bigger crop area, says trade body
As a traditional cotton spinner working from home in her village in northern India, Anita Devi was long resigned to having sore hands, meagre income and a constant struggle to make ends meet. But her life changed in 2019 when the mother of two received a solar-powered spinning wheel, or charkha, as part of a drive by the state of Uttar Pradesh to boost rural women's work opportunities and incomes in an environmentally-friendly manner. The solar charkhas - which feature 12 spindles, ...
Solar power helps Indian women make light work of cotton spinning
The monsoon, which accounts for about 75% of India's annual rainfall, is the lifeblood of its nearly $3 trillion agriculture-dependent economy. Asia's third-largest economy and the world's top producer of a host of critical crops such as rice, wheat and sugar has received 11% more than average monsoon rain since the four-month season began on June 1. An average monsoon is rainfall between 96% and 104% of a 50-year average of 89cm over the season. However, the uneven na...
Explainer-India`s economic outlook at the mercy of monsoon
Ample monsoon rain in the first half of July accelerated planting of main summer-sown crops such as soybean, cotton and pulses in India, although rice planting is still lagging behind due to scant rainfall in northern states. Farmers planted summer-sown crops on 59.2 million hectares, as of July 15, slightly higher than 59.1 million hectares a year ago, according to the Ministry of Agriculture & Farmers' Welfare. Crop sowing was down 9.3% until last week. The planting of s...
Planting of summer crops ramps up in India as monsoon revives
Greaves Cotton is currently trading at Rs. 157.00, up by 1.00 points or 0.64% from its previous closing of Rs. 156.00 on the BSE. The scrip opened at Rs. 156.70 and has touched a high and low of Rs. 157.35 and Rs. 155.65 respectively. So far 13896 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 258.85 on 21-Jan-2022 and a 52 week low of Rs. 126.15 on 23-Aug-2021. Last one week high and low of the scrip stood at ...
Greaves Cotton gains on inaugurating multibrand Electric Vehicle retail store `AutoEVmart` in Thiruvananthapuram
India has extended deadline to import cotton without paying import taxes until Oct. 31 from the earlier cut-off date of Sept. 30, the government said in a notification, as the sowing of the fibre crop delayed in some regions due to patchy monsoon rainfall. The world's biggest producer of the fibre had allowed duty free imports in April after local prices jumped to a record high because of a drop in the production and following rally in global prices. India mainly imports cotton from...
India extends deadline for duty free cotton imports to October 31
Greaves Cotton is currently trading at Rs. 149.45, up by 5.90 points or 4.11% from its previous closing of Rs. 143.55 on the BSE. The scrip opened at Rs. 145.70 and has touched a high and low of Rs. 151.95 and Rs. 145.70 respectively. So far 125424 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 258.85 on 21-Jan-2022 and a 52 week low of Rs. 126.15 on 23-Aug-2021. Last one week high and low of the scrip stood at...
Greaves Cotton zooms after its arm allots 35.80% stake to Abdul Latif Jameel
MUMBAI/ AHMEDABAD - Cotton planting in India, the world's biggest producer of the fibre, could jump as much as 15% in 2022 to an all-time high, as strong prices prompt farmers to switch away from other crops, an industry association said. Higher output could help cool the rally in global and local cotton prices, which is hurting Asian apparel makers. Area planted to cotton in India could rise as much as 15% from last year because the crop is providing far better returns than al...
Cotton price rally could lift Indian planting to record high
The dairy farmers of Tirupur are affected after the increased price of cotton seeds led to an increase in the price of cattle feed. Cotton seeds are a vital part of the cattle feed and are rich in protein and fibre. Farmers told IANS that the price of cotton seeds has gone up from Rs 2000 to Rs 2500 in a span of four months. Tamil Nadu Milk Producers Association leader Kolanthaisamy, told IANS that "The rising prices of cotton seeds will also affect ordinary farmers who have a few cow...
Tirupur dairy farmers affected as hiked cotton price raises price of cattle feed
A delegation of Tamil Nadu parliamentarians will meet Finance Minister Nirmala Sitharaman in New Delhi on Wednesday over the rising cotton and yarn prices. The delegation, mostly MPs from Western Tamil Nadu, is led by Kanimozhi. The textile industry of Tamil Nadu, which is reeling under the rise in cotton and yarn prices, is waiting anxiously at the outcome of the meeting. Tamil Nadu Chief Minister M.K. Stalin has written a letter to Prime Minister Narendra Modi that the rising price...
Tamil Nadu MPs to meet Nirmala Sitharaman over cotton prices issue, textile industry awaits outcome
Clarification on import duty waiver on cotton till September 30, reduction in margin money demanded by bankers for cotton purchases and mandating cotton and yarn stock declaration by spinning mills, are the requests of Tamil Nadu Chief Minister M.K. Stalin to Prime Minister Narendra Modi. Pointing to the rise in prices of cotton and yarn, Stalin in a letter to Modi said there was a growing discontent in the textile industry and weavers. In order to rein in the price rise and consequent ...
Mandate spinning mills to declare cotton, yarn stocks: CM M K Stalin to PM Narendra Modi
The Southern India Mills' Association (SIMA) chairman, Ravi Sam has appealed to all stakeholders in the cotton textile value chain to stand united and adopt a win-win strategy to mitigate the crisis rather than demanding the government to take certain short-sighted policy decisions. He said banning or imposing quantitative restrictions on cotton and yarn exports would tarnish the country's image as a reliable supplier in the global market. The chairman said the Indian spinners have...
SIMA appeals cotton textile stakeholders to stand united to cope with high yarn prices
The Textile mills in Tamil Nadu are expecting a reduced price for Cotton yarn that is to be announced in May. Presently, the price of Cotton yarn in Tamil Nadu for all varieties is in the range of Rs 400 per kg. The traders and industry is expecting a reduced price as the production of Cotton this time is high in the state as compared to the same period the previous year. The cotton bags have started arriving at the Mulanur cotton market in Tiruppur district from various parts of the...
Cotton yarn rates to be announced in May, Tamil Nadu Textile mills expect reduced prices
Cotton price inflation to impact margins; long term prospects intact Indian cotton sheet / terry towel exports to US increased 4.9%/9.3% YoY during Feb’22. India’s market share during Feb’22 improved MoM as Jan’22 was impacted due to the emergence of third wave. Market share across a) cotton sheet stood at 54% vs 44% in Jan’22 – China’s market share decreased by 540bps b) terry towel stood at 44% vs 35% in Jan’22 – China’s market ...
Textile Sector Update - Cotton price inflation to impact margins; long term prospects intact By JM Financial Services
The cotton producers of Tamil Nadu are on a warpath as the central government has effected exemption for the Agriculture Infrastructure and Development Cess and Basic Customs Duty for the import of cotton. This will in affect allow import of cotton bales at zero duty until September 30. While cotton farmers are upset with the decision of the central government, the textile industries of Tiruppur and other parts of Tamil Nadu have got a major relief for which they were actively pursuing ...
Cotton producers of Tamil Nadu on warpath after reduction of import duty
Higher raw material cost is likely to impact textile demand during Q1FY23 on a quarter-on-quarter basis. As per India Ratings and Research (Ind-Ra), sustained rub-off impact from high man-made fibre (MMF) prices amid new arrivals will keep domestic cotton prices to remain at the current high levels during Q1FY23. "Rising cotton and MMF prices are likely to moderate demand for textile fabrics, made ups and garments as the downstream prices will also rise in tandem with the raw material...
Higher raw material cost to dampen textile demand: Ind-Ra
Greaves Cotton is currently trading at Rs. 163.45, up by 0.25 points or 0.15% from its previous closing of Rs. 163.20 on the BSE. The scrip opened at Rs. 156.60 and has touched a high and low of Rs. 164.50 and Rs. 156.60 respectively. So far 139981 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 258.85 on 21-Jan-2022 and a 52 week low of Rs. 116.90 on 19-Mar-2021. Last one week high and low of the scrip stood at...
Greaves Cotton surges after its arm incorporates wholly owned subsidiary in USA
HINDUPUR India - At Texport Industries' factories in India's south, thousands of mostly women workers are busy converting yarn and fabrics into T-shirts, shirts, spaghetti tops and kids' clothes for U.S. customers of Tommy Hilfiger and Kohl's Corp. After being outpaced in recent years by neighbouring Bangladesh and then hammered by the COVID-19 pandemic, India's garment factories are now humming near full capacity - a rare labour market bright spot for Prime Minist...
India's textile industry revs up, giving hope on jobs for PM Narendra Modi
HINDUPUR - India is hoping its labour-intensive textiles and apparel (T&A) companies will help it address a jobs crisis, and has promised to pump about $2 billion into the industry over the next few years to generate more than 1 million jobs. About a third of the money would go into setting up seven so-called Mega Integrated Textile Region and Apparel parks, each spanning across more than 1,000 acres (404 hectares). The government says India's T&A companies, small and large,...
Factbox-Indian cotton yarn's journey, from knitting to packing
Shares of Ambika Cotton Mills hit the 20 per cent upper circuit on Friday. Ace investor Vijay Kedia reportedly bought nearly one per cent stake in the company through open market on Thursday. This week, the shares of the company rose over 37 per cent, and 182 per cent in the past one-year period, data showed. In the past one-year period, benchmark Sensex rose around 16 per cent. On Friday, the shares settled at Rs 2,762.30, up 20 per cent. The company is based out of Tamil Nadu...
Ambika Cotton Mills' shares hit 20% upper circuit
The Cotton Association of India has reduced India's annual cotton output estimate for the current season -- which started in October -- to 348 lakh bales. The earlier estimate was at 360 lakh bales (a bale is approximately 170 kg). The latest revision was done after a virtual meeting held on Monday where all 29 members representing all cotton producing states and stakeholders participated. Gujarat, a major producer, is expected to produce five lakh bales lower on year, the associ...
Cotton Association cuts India's 2021-22 output estimate by 12 lakh bales
New stock arrivals as well as the Omicron Covid-19 variant's expected impact on demand is likely to arrest any further rise in cotton prices during the short-term, said India Ratings and Research (Ind-Ra). As per the credit ratings agency, cotton prices are expected to get corrected in the short term, because of increased new arrivals as well as the spread of the Omicron variant which would impact demand. Till recently, healthy international and domestic demand along with minimal op...
New stock, Omicron impact to arrest rising Cotton prices: Ind-Ra
By Rajendra Jadhav MUMBAI - Indian cotton exports have begun to slide due to traders charging hefty premiums over benchmark U.S. futures on expectations of lower output at a time when there is strong demand from local textile mills, industry officials said. The higher premiums sought by India, the world's biggest cotton producer, could force Asian buyers such as Bangladesh, Vietnam and China to increase purchases from other suppliers such as the United States, Brazil, Australia and ...
India's cotton exports begin to slide as traders seek high premiums
Claiming to safeguard the interests of the cotton farmers, the Centre on Wednesday gave approval for committed price support of about Rs 17,000 crore to the Cotton Commission of India (CCI) for the cotton seasons from 2014-15 to 2020-21 till up to September 30 this year. Cotton is one of the most important cash crops and plays a major role in sustaining the livelihood of around 58 lakh cotton farmers and 400 to 500 lakh people engaged in related activities such as cotton processing and tra...
Centre's nod for cotton price support from 2014-15 till September 2021
The company reported standalone net profit of Rs 23.88 crore for the quarter ended March 31, 2021 as compared to Rs 10.03 crore in the same period last year, registering a year-on-year growth of 138.09 per cent. Net revenue of the company rose substantially by 27.09 per cent at Rs 457.00 crore in January-March quarter of this fiscal as against Rs 359.58 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 24.51 per cent to Rs 409.67 cro...
Greaves Cotton Q4 net profit zooms 138.09% at Rs 23.88 cr
Telangana agriculture department has signed an agreement with Wadhwani Institute of Artificial Institute (Wadhwani AI) to deploy solutions for the benefit of cotton farmers on Saturday. "Wadhwani AI has developed an AI solution that equips smallholder cotton farmers with scientific knowledge of an agriculture expert with the help of a simple smartphone," said an official. The solution, delivered through an app provides real-time localized advisory and surveillance, enabling fa...
Telangana , Wadhwani AI team up to benefit cotton farmers
NEW DELHI - India has raised the price of genetically modified cotton seeds by 5% for the fiscal year that began in March, a government order said, potentially boosting revenues of leading local seed makers. According to the order, the Ministry of Agriculture and Farmers' Welfare has raised the price of genetically modified cotton seeds to 767 rupees for a 450-gram packet, up from 730 rupees. New Delhi approved U.S. seed maker Monsanto's genetically modified cotton seed trait, t...
India raises genetically modified cotton seed prices by 5%
The Apparel Export Promotion Council (AEPC) Chairman A Sakthivel has urged the government to impose restrictions on exports of cotton yarn to curb prices and increase supply for domestic manufacturers. He said despite several efforts by the government to reduce the price of cotton yarn, it has consistently increased in the last four months and was affecting the entire value chain. Sakthivel suggested that quantitative restrictions should be imposed on exports of cotton yarn, specifically o...
AEPC urges government to impose restrictions on exports of cotton yarn
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