Home / Knowledge / News / Textiles / SIMA urges CCI to announce cotton prices
SIMA urges CCI to announce cotton prices
25
Feb '13
Sustenance of conducive business environment for the textile industry is the need of hour with respect to cotton policies, said Mr. S Dinakaran, Chairman of The Southern India Mills’ Association (SIMA).  SIMA Chief has said that after a lengthy recession period, the textile industry started reviving only from the middle of 2012. 

He has further said that textile mills in Tamil Nadu continue to suffer due to acute power shortage and expected to revive only from June 2013 when the power supply position improves. He has pointed out that the reason for the improvement of the textile industry’s performance is the stability in cotton prices and the availability of quality cotton. He has expressed his satisfaction over the global cotton position and the performance the stakeholders of entire textile value chain. 

SIMA Chairman has feared that the domestic cotton prices have started increasing abruptly during the last ten days while the international prices are firm for more than a month mainly because certain leading traders are hoarding the cotton and started speculating the prices.  He has added that Cotton Corporation of India has also been delaying in announcing the prices for varieties like MCU-5 and selling the cotton to the domestic industry, adding fuel to the situation. 

In a representation sent to the Hon’ble Union Textile Minister, Mr. Anand Sharma, SIMA Chairman, Mr. Dinakaran has said that while thanking the Hon’ble Minister for helping to revive from the crisis by announcing debt restructuring package of Rs.35, 000 crores and the various incentives offered by the Government, he requested the Hon’ble Minister to intervene CCI cotton selling policy to sustain the market conditions. 

Mr.Dinakaran has said that the comfortable cotton position and the stability in prices during the cotton season 2012-13 are the major reasons for the improved performance of the domestic textile mills.  He has pointed out that around 55 lakhs bales of cotton have already been registered and around 33 lakh bales of cotton have already been shipped out of the country. 

In the representation, SIMA Chairman has brought the attention of the Union Textile Minister on the abrupt increase in the domestic cotton prices during the last ten days, while the international cotton price is stable for almost a month.  He has stated that the Cotlook A Index price per pound has been varying between 85 to 89 cents during the last one month whereas Sankar-6 cotton price which was around Rs.34,000/- per candy of 355 kgs during the beginning of  February, now ruling at Rs.36,500/-. 

He has pointed out that the main reason for the abnormal hike in price is due to the hoarding of cotton by certain major traders.  Mr.Dinakaran has remarked that the Cotton Corporation of India has been delaying the announcement of the prices for varieties like MCU-5 and delaying its trade in the domestic market in full swing, which has added fuel to the situation. 


Must ReadView All

Bangladesh garment exports rise 7.46% in July-Nov '17

Apparel/Garments | On 11th Dec 2017

Bangladesh garment exports rise 7.46% in July-Nov '17

Readymade garment exports from Bangladesh increased 7.46 per cent in...

Karl Mayer opens new workshop in Vietnam

Textiles | On 11th Dec 2017

Karl Mayer opens new workshop in Vietnam

Karl Mayer, Germany’s leading textile machinery firm, has announced...

Cotton USA promotes cotton at TITAS Taiwan tradeshow

Textiles | On 11th Dec 2017

Cotton USA promotes cotton at TITAS Taiwan tradeshow

Cotton USA, which promotes US cotton fibre and manufactured cotton...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


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