Home / Knowledge / News / Textiles / CCI must offload cotton, says CITI
CCI must offload cotton, says CITI
13
Apr '15
Another textiles trade body, Confederation of Indian Textile Industry (CITI) has urged the union textiles minister Santosh Kumar Gangwar to direct Cotton Corporation of India (CCI) to dispose of the procured cotton immediately in order to avoid an artificial shortage of cotton in the market and to bring cotton prices to reasonable levels.
 
CITI chairman Prem Malik shot off a letter to Gangwar as the market arrivals continued to dwindle while the CCI continued to sit on over 83 lakh bales of cotton. The lower arrivals and the CCIs’ reluctance to offload the cotton has led to a shortage of cotton in several production centres in spite of the fairly large production of 390 lakh bales during the current cotton season.
 
Malik pointed out that most of the cotton of the current season has already arrived in the market and therefore increase in cotton prices at this stage would only help cotton traders and not farmers. He also pointed out that with a huge quantity remaining with CCI, traders are also finding an opportunity to hoard cotton and push up prices further. The only way to force traders to bring out cotton to the market is by disposing of CCI’s cotton stock through e-auctions and at reasonable prices.
 
Last week, the Southern India Mills Association (SIMA) made a similar appeal to Gangwar. SIMA also wanted Gangwar to direct the CCI to immediately start selling cotton by e-auction directly to the actual users with liberal credit norms. (SH)

Fibre2fashion News Desk - India


Must ReadView All

EU, Japan finalise Economic Partnership Agreement

Textiles | On 18th Dec 2017

EU, Japan finalise Economic Partnership Agreement

Building on the political agreement reached in principle during the...

WTO, ITC launch cotton portal to enhance transparency

Textiles | On 18th Dec 2017

WTO, ITC launch cotton portal to enhance transparency

The World Trade Organisation (WTO) and the International Trade Centre ...

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Erik Sy

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

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

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
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

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
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

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
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

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
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


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