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suggested that presently the prices have come under control because the Government has removed duty on imports and withdrawn incentives from export of cotton fibre.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

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Ebay

Apparel/Garments | On 19th Jun 2018

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

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

Mark Paterson
Technical Absorbents Ltd

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

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search