Home / Knowledge / News / Textiles / Indian cotton market to remain upbeat
Indian cotton market to remain upbeat
08
Feb '12
The prices of cotton have increased by around 10-15 percent in the Indian markets during the past few days and the price of Shankar 6 variety has risen to about 37,000-37,100 per candy of 356 kg.

There are several factors that indicate that the cotton market will remain upbeat in the coming days, especially due to the demand coming from China.

Mr. Anand Popat, Secretary, Saurashtra Cotton Ginners Association, told fibre2fashion, “There are three factors that indicate that the Indian cotton market will remain upbeat in the coming days. First, the Chinese Government has already purchased 14.8 million bales of cotton and kept it as reserve stock. Secondly, USDA's report anticipates sowing for the next season to remain lower. Moreover, the world cotton consumption has also increased compared to last year.”

However, Mr. Popat opines that the impact of the cotton stock with the Chinese Government is the main factor. He says, “The entire balance sheet of world cotton market shows that most of the holding stock is currently lying with the Chinese Government as reserve stock. At present, the Chinese Government is undecided about selling the stock and hence, the cotton rates will remain firm.”

“If the Chinese Government continues its buying for its reserve stocks, then the rates will go on increasing, if not the market will remain steady. On the other hand, if the Government releases its stocks for sale in the market then it will negatively impact the market. So currently, China plays a key role,” he explains.

Mentioning the demand from China for Indian cotton, he says, “Actually, the stocks lying with the Chinese Government are not for sale. In such a situation, the textile mills in China are looking towards India to get the cheapest cotton for running their industries. This has led to a continuous demand from China for Indian cotton.”

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X