Home / Knowledge / News / Textiles / Domestic market in paucity of cotton despite a production surplus
Domestic market in paucity of cotton despite a production surplus
05
Jun '08
Cotton production in the period 2007-08 reached 31.5 million bales earning India the reputation of being the second largest cotton producer in the world. However, the domestic textile sector is still being hit by sky rocketing cotton prices.

Industrial sources informed Fibre2fashion that reasons for such paradoxical situation can be attributed to the huge amount of exports of the raw material which has left domestic market with insufficient stock for consumption. As a consequence, prices for cotton have increased by leaps and bounds bringing huge losses to manufacturers and millers.

To heighten the condition there has been a speculation that middle players from outside have been purchasing and hoarding cotton bales to sell it later.

Cotton Advisory Board has estimated that domestic consumption this year will touch 24.1 million bales while exports are likely to be around 8.5 million bales. Closing stock on the other hand will amount to 4.3 million bales.

In such gruesome conditions, a plea has been made to the Government to either remove import duty which is currently pegged at 14 percent or levy a five percent export tax on cotton.

Experts believe that this regulation should be brought about by government bodies like the Cotton Corporation of India as this will give the industry a clear idea about the actual production and the amount exported.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Johan Berlin
InvestKonsult Sweden AB

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

Mark Paterson
Technical Absorbents Ltd

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

Marcel Alberts
Eurofibers

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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