Home / Knowledge / News / Textiles / Ask CCI to sell cotton to textile mills: SIMA tells govt
Ask CCI to sell cotton to textile mills: SIMA tells govt
18
Mar '13
The Southern India Mills’ Association (SIMA) has written to the Indian Government, including the Prime Minister, Finance Minister, Minister of Textiles and Minister for PMO Office, requesting offloading of cotton parked with the Cotton Corporation of India (CCI) to domestic textile mills and not to the cotton traders.
 
SIMA has urged the Government to interfere in offloading CCI cotton to stabilize the yarn prices in the country.  
 
The appeal says that the CCI and National Agricultural Cooperative Marketing Federation of India Limited (NAFED) purchased over 2.5 million bales of cotton of 170 kg each, as part of minimum support price (MSP) operation at prices 15 to 20 percent lower than today’s prices.
 
According to SIMA, large traders and the CCI still hold about 5 to 6 million bales of cotton, which has created an artificial scarcity and increased the prices by 15 percent in a month, eroding the export competitiveness of textile mills. As a result, the export growth has started turning negative.
 
The association appealed the Government to immediately intervene and direct the CCI to offload its stock only to domestic textile mills, in order to sustain the viability of the country’s textiles and clothing sector.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Egypt signs agreement with UNIDO for cotton production

Egypt has signed a €1.5 million ($1.74 million) cooperation agreement ...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Judy Frater
Somaiya Kala Vidya

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

July 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

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

Yes No

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

Yes No

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


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



X