SIMA urges CCI to announce cotton prices

25 Feb '13

4 min read

He has pointed out that the abrupt increase in cotton prices has sent wrong signals to the international market and the pace of demand for Indian cotton yarn and fabrics have started declining in the recent days. He has worried that the upward trend in domestic cotton price has already made many textile mills to resort for imports which might affect the Indian farmers.

SIMA chief has stated that CCI has procured large volume of cotton in Andhra Pradesh to the tune of 20 lakh bales, particularly the long staple varieties including MCU-5. He has pointed out that since these varieties are available only in limited quantity, it should be ensured that these cotton varieties reach the domestic mills and particularly the woven garment and made-up sectors specifically need this cotton to meet their export commitments.

Therefore, SIMA Chief has appealed to the Hon’ble Union Textile Minister to direct the CCI to announce the prices for the AP cotton varieties particularly MCU5 immediately to avoid panic in the minds of spinners and the downstream sectors. Mr.Dinakaran has also requested the Hon’ble Minister to ensure that CCI cotton is made available to the domestic sector and avoid exports or selling to the traders in order to sustain the global competitiveness of the textile industry.

Southern India Mills' Association (Sima)

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