Home / Knowledge / News / Textiles / Rain blesses cotton market scenario
Rain blesses cotton market scenario
20
Aug '08
Monsoon is known to give respite from scorching summer, but this year it has brought good news for the weavers as well, with prices of cotton going down.

Although cotton scenario looked quite drab few days back, a good spell of rain in the last fortnight has increased hopes of the weavers in Gujarat. The state has always been known for its long staple Bt cotton variety Shankar-6, which stood in the range of Rs28,000-Rs28,500 a candy, during the period October 2007 - July 2008, making it difficult for the spinners.

However, this monsoon has come as a blessing for the weaving mills and current cotton price of BT cotton of 28 mm has come down to around Rs27,000 per candy.

In an exclusive interview with Fibre2fashion, Mr J M Vora (Bhanabhai), Owner of Nirav Enterprise, located in Surendranagar District, Gujarat, told, “Presently cotton price are have come down by Rs1500 – Rs2000.”

In the current fiscal, cotton production has reached 315 lakhs bales. Compared to year earlier, yields increased by 30 lakh bales, which touched around 285 lakh cotton bales.

According to the Nirav Enterprise Head, high exports has created crisis for cotton, and increase in demand for the same can be considered as one of the reasons for such hike in prices. This has resulted in, rise in imports by the textile biggies.

Mr Vora suggested that presently the prices have come under control because the Government has removed duty on imports and withdrawn incentives from export of cotton fibre.

Discussing about the future, Mr Vora worriedly said, “Though there is good rainfall this year, the cotton production is expected to be 10 to 15 percent less. Due to late rainfall the favorable period for BT cotton has gone away. Even in countries like America and Brazil, growth of cotton crop is anticipated to be 10 to 25 percent lower compared to previous season.”

Lastly, he noted that if such scenario persists, demand for cotton may continue further.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kevin Nelson
TissueGen

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

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

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
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search