Home / Knowledge / News / Textiles / Ginners & weavers upset over hike in cotton prices
Ginners & weavers upset over hike in cotton prices
03
Apr '08
Government is expected to revise the prices of fibre producing crops, especially, cotton and measures for the same are on the way after complaints made by traders about speculative hoarding and large scale exports.

Although, the finance ministry is in favor of a 5 percent export tax on cotton, the Cabinet Committee on Prices (CCP) has kept the decision on hold for a while.

Being the cheapest available in the international market, Indian cotton has a huge demand overseas.

Some of the largest cotton trading companies in the world, seeking to take advantage of the situation have become active in the Indian market.

Despite a record high production in 2007-08, local prices for cotton remains not only high, but on the contrary it continues to escalate due to enormous demand from exporters.

The key problem for the Indian market is that even though farmers are benefiting by this trend, ginners and weaving mills find it difficult to make purchases at such unreasonably high prices.

However, the CCP, considering that there is still a surplus in the domestic market, has opposed the imposition of export restriction by the Finance Ministry.

On the other hand, the Cotton Association of India (CAI) strongly holds that large international players with access to foreign cash are trying to create instability in the Indian cotton market.

Moreover, market operators having finance at international interest rates are clocking the supply of cotton raw material at various levels to benefit from the trend of rising prices.


Must ReadView All

Courtesy: Sympatex Technologies

Textiles | On 23rd Feb 2018

Sympatex, Ricosta jointly move towards sustainability

Sympatex Technologies is moving towards sustainability with its...

Courtesy: Business wire

Information Technology | On 23rd Feb 2018

CLO Virtual Fashion launches CLO 4.0 & new website

CLO Virtual Fashion, a leading developer of cutting-edge 3D garment...

Courtesy: Delta Galil

Apparel/Garments | On 23rd Feb 2018

Delta Galil 2017 sales up 16% to $1,368.1 million

Delta Galil sales for full year 2017 increased 16 per cent to...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

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

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

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Ravindra Jain, Ashish Baid

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

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Lynda Kelly
Suominen Corporation

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

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

Robert Brunner
Devereux

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

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

February 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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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