Search Result for : Cotton

The Dollar Business Bureau With good monsoon rains and various policy initiatives by the Government, India’s overall production of food grain to be increased by 2.3 million tonne to an all-time high of 275.68 million tonnes in the crop year 2016-17, according to the fourth advance estimates released by the Agriculture Ministry on Wednesday. Record production has been achieved in wheat, rice, pulses and coarse cereals in the crop year that ended in June.  The previous record of food grain production was 265.04 million tonnes, achieved in the crop year 2013-14 (July-June). However, the output had dropped to 251.57 million tonnes in crop year 2015-16.  “As a result of very good rainfall during monsoon 2016 and various policy initiatives taken by the Government, India ...

The Dollar Business Bureau Agriculture Secretary Shobhana K Pattanayak said on Saturday that the foodgrain production in the ongoing kharif season 2017-18 is expected to exceed last year's record output of 138.04 million tonnes on account of higher sowing area and good monsoon.  Till now, more than 80% of the sowing of kharif crops such as pulses, paddy, cotton, oilseeds, jute and sugarcane, has been completed and the sowing will continue in some regions until next month, he told PTI.  Crop area of around 19 lakh hectare across the country has been impacted by floods and farmers are expected to take up other crops in the season once the water goes down, Pattanayak said. He also expressed concerns about poor rainfall in ...

The Dollar Business Bureau Buoyed by increasing cotton prices, Indian farmers have started sowing cotton in a larger area. Sowing has begun on a stronger note in Haryana, Punjab, Karnataka for the 2017-18 season. India is the world’s biggest producer of cotton and a higher output in the country could enrich the cotton farmers who have been under distress due to prolonged drought, adverse market conditions, non-payment of bank loans  and climatic aberrations. India’s current cotton crop for the season ending this September is expected to be 170 kgs or 34.1 million bales. According to M.M.Chockalingam, Chairman of the State run Cotton Corporation of India, “this year farmers received higher prices, so they are going to raise the area under cotton. We are ...

The Dollar Business Bureau Even though sugar demand is expected to decline by 3%-4%, prices are likely to firm up due to record low production estimates in the current year. A prolonged drought in the sugar producing regions of Maharashtra, Karnataka and Tamil Nadu; the second, third and fourth largest sugar producing states of India respectively; has caused productivity to take a serious hit. Indian Sugar Mills Association (ISMA) estimates a 40% - 50% decline in the yield from sugarcane fields during the season ending September 2017. The state of Maharashtra, which had produced 84.2 lakh tonnes of sugar in the previous season, is estimated to contribute merely 42 lakh tonnes to the nation's sugar output in the current season. This is deemed to be the lowest recorded output for the ...

Abin Daya It appears that India’s export performance is back on the growth track once again. After two years of decline, exports might hit a marginal positive growth figure this year. The recovery of petro exports in value terms due to the rise in crude oil prices is one of the reasons for this growth. However, the much steeper rise in imports has widened the trade deficit, though the overall figure would still be lower than last year.  Indian exports will continue to be affected by headwinds to the global economy, though recovery in the US economy might provide some respite. The strengthening rupee is another concern for exporters as it takes away vital price advantage available to them. Talking about individual ...

Sharath Chowdary The Union government had recently withdrawn the notification on licencing guidelines for genetically modified seed technology issued on May 18, 2016. Experts from the industry have welcomed the government’s decision to withdraw the conditions on GM seed licencing fee. According to them, the earlier notification was disastrous to the industry as it would have sent wrong signals to foreign investors. The new decision has once again sent a positive note on the future of the textile industry, J. Thulasidharan, Vice Chairman of Confederation of Indian Textile Industry (CITI) told The Dollar Business Bureau. The CITI is an apex national body of the textile industry. Thulasidharan is the Managing Director of Rajaratna Mills Ltd and also the President of the Indian Cotton ...

The Dollar Business Bureau Indian credit rating agency (ICRA) on Wednesday expressed concerns over limited growth in domestic consumption and exports of spun yarn and said a similar outcome in the financial year 2016-17 will pose a serious challenge for the Indian textile spinners. The report indicated that a tepid domestic consumption and subsiding exports of yarn will deter its volume growth as well as profitability of spinners. “The slow pace of growth in spun yarn production has been driven by factors like tepid domestic consumption and limited growth in exports. With cautious outlook on cotton yarn exports, domestic demand growth will determine the production growth going forward,” the agency said in its report. According to ICRA’s estimates, domestic consumption growth for cotton yarn ...

The Dollar Business Bureau In the current marketing year end of September, the exports of cotton is likely to decline by 10% to 6 million bales due to a of hike in domestic prices, which restricted the competitive aspect of the natural fibre globally. India had exported 6.7 million bales in the marketing year of 2014-15. The top most export destinations were Bangladesh, Vietnam and Pakistan. BK Mishra, Chairman and MD of Cotton Corporation of India, revealed that so far 5 million bales were exported. However, exports have stopped as global prices are cooling down and domestic prices are increasing. The estimated total cotton exports will be around 6 million bales in 2015-16, he said. The prices within the country have increased to Rs. 1,000, ...