Home / Knowledge / News / Textiles / CITI urges govt for immediate release of procured cotton
CITI urges govt for immediate release of procured cotton
05
Mar '13
Confederation of Indian Textile Industry (CITI) has requested the government for immediate release of cotton procured by various government agencies through Minimum Support Price (MSP) Operations.

Shri S.V. Arumugam, Chairman, CITI stated that cotton prices had increased steeply because of an artificial shortage of cotton in the market which is created partly by hoarding of cotton by traders and partly by non release of procured cotton by the Cotton Corporation of India (CCI) and other procurement agencies.

Shri Arumugam pointed out that the current stock of nearly 25 lakh bales have been procured through MSP Operations a few weeks ago and cotton prices have increased 12-15 percent after that. Thus, releasing these quantities now can fetch an impressive profit for the procured agencies. Shri Arumugam further pointed out that procuring cotton at MSPs when the market prices were lower gave the requisite protection to cotton farmers.

However, holding on to the procured cotton would help only traders who are also hoarding cotton purchased from the farmers earliest at low prices. Shri Arumugam further pointed out that a substantial part of the crop has already arrived in the market and therefore, increase in cotton prices now will help farmers only marginally.

Shri Arumugam observed that the textiles industry was finding it difficult to pass on the increased cotton prices to the consumers. He has requested government that the procured quantities of cotton may be released immediately which will also force the traders to release cotton held by them.

Confederation of Indian Textile Industry (CITI)


Must ReadView All

UNIDO, eWTP discuss strengthening ties to back e-commmerce

Textiles | On 25th Apr 2018

UNIDO, eWTP discuss strengthening ties to back e-commmerce

United Nations Industrial Development Organisation director general...

Courtesy: HueTrap

Apparel/Garments | On 25th Apr 2018

Making sustainability affordable is a big challenge

In a lot of instances, being sustainable comes with an additional...

Courtesy: Formosa Petrochemical Corporation

Textiles | On 25th Apr 2018

Formosa to set up petrochemical plant in Louisiana

Formosa Petrochemical Corporation has selected St. James Parish in...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts
Eurofibers

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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