As prices increased due to lower US ending stocks, cotton fell on profit booking

Cotton prices fell by -0.96% to 62040 due to profit-taking. Lower U.S. cotton predictions for 2023–2024 decreased production and ended inventories. U.S. production dropped by 334,000 bales to 12.1 million, with ending inventories reduced by 300,000 to 2.5 million. Despite this, upland producers maintained a projected 77.0 cents per pound price. Global cotton supply and…

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Weather risks may impact jeera yield, leading to a gain in its market value

The Jeera market is displaying a complicated scenario; yesterday’s settlement at 25730 showed a significant 1.78% gain, primarily due to growing weather threats in Rajasthan and Gujarat, two important production regions. Market mood has increased due to worries that unfavorable weather conditions will impact yields. Nonetheless, this good news is offset by the fact that…

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As the current Rabi season approaches its four-year high, Jeera dropped

Jeera acreage reached a four-year high during the current rabi season, which caused jeera prices to decrease by -0.93% and settle at 25435. Due to the previous selling season’s record prices, farmers in important producing states like Gujarat and Rajasthan increased their crops. Gujarat saw a significant 160% rise in jeera agriculture, surpassing the average…

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Tanzania is permitted to receive 30,000 tonnes of non-basmati white rice from India

The government has approved the shipment of 80,000 tons of broken rice to Djibouti and Guinea Bissau, and 30,000 tons of non-basmati white rice to Tanzania. The Directorate General of Foreign Trade (DGFT) has stated in a notification that the export is authorized through National Cooperative Exports Limited (NCEL). West African Guinea-Bissau is a tropical…

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Cotton Decreased Following SIMA’s Request for Textile Mills to Prevent Panic Purchasing

Considering a global supply rise predicted after July, the Southern India Mills’ Association (SIMA) advised textile mills to refrain from panic buying amid rising cotton prices. Net sales decreased by 69% in 2023/2024 compared to the previous week and 83% from the previous 4-week average, according to data released by the U.S. Department of Agriculture…

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