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SIMA again demands offloading CCI cotton to textile mills

15 Mar '13
4 min read

SIMA chief has also criticized that it has been the practice of cotton traders in the last five cotton seasons that they manipulate the trade in such a way that the prices shoot up abnormally during February to April by crating artificial scarcity and again speculate the prices during the end of the cotton season.

SIMA Chairman has opined that CCI and other procurement agencies have over 20 lakh bales of cotton procured from the farmers of Andhra Pradesh which are of long stable varieties at the minimum support prices and even if the procurement agencies sell the cotton at today’s price, it would fetch good profit to them.  He has pointed out that the primary role of government procurement agencies is to support the farmers whenever the prices go below the MSP operations and also sell the cotton to the domestic industry and constantly maintain the stability in the cotton prices. 

He has clearly indicated that the Association does not want the farmers or government agencies to incur loss, but at the same time the government should direct the procurement agencies to come out with transparent and consistent policies which would create win-win situation both for the farmers and the end user industry to sustain their global competitiveness.

SIMA Chairman has opined that the present upward trend in cotton price would subsidize soon which has been created artificially and therefore advised the textile mills not to be panic about the present price trend.

Southern India Mills' Association (Sima)

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