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Maharashtra cotton federation demands further relaxation in export cap
05
Jul '11
The Maharashtra State Cotton Growers Cooperative Marketing Federation (MSCGCMF) has sounded a caution regarding a looming threat of stagnation followed by a further fall in the price of cotton in the State, if the Central Government does not lift the ban on cotton exports.

MSCGCMF Chairman NP Hirani said that there is a surplus of around 2.5 to 3 million bales (1 bale = 170 kg) of cotton in the country. He added that during a meeting with the State Chief Minister Prithviraj Chavan, he had voiced the issue of further hiking the cotton export ceiling. Following this, the CM had summoned a meeting to assess the situation of cotton industry in the State with a view to raise the issue before the Central Government.

Pursuant to their continued efforts, the Central Government relaxed the 5.5 million bale ceiling on cotton exports to allow further export of another one million bales, he said.

Mr. Hirani said that they have stressed on further relaxation of this ceiling so that the farmers can cash in on current year's ample crop.

He held that if the Centre does not review its decision on the present ceiling on cotton exports, the commodity prices would further deteriorate sharply during next year, inducing increasing number of farmers in the cotton belt of Vidarbha region in the State to end their lives.

“The farmers are eager to plant more cotton this year than last year and if it rains sufficiently, this year too, they would reap ample crop. This would result in massive inflow of crop and the prices would again witness a steep fall in the domestic market,” he added.

Fibre2fashion News Desk - India


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