Home / Knowledge / News / Textiles / New cotton arrival leads to drop in prices of Sankar-6
New cotton arrival leads to drop in prices of Sankar-6
11
Sep '08
Gujarat, one of the major cotton growing belts in India, experienced a whooping decline in the prices of Sankar-6 with fresh arrivals of early sown cotton.

As new arrivals have started flowing in about seven marketing yards of Saurashtra region including Amreli, Savarkundla, Rajkot, Halvad and in Radhanpur in north Gujarat, prices of long staple cotton, more commonly referred to as Sankar-6, have fallen by Rs500-600 a candy from last weeks prices of Rs28,400-28,500.

In an exclusive interview with Fibre2fashion, Mr Arun Dalal of Arun Kumar & Company stated, "Prices of cotton are expected to go down further by the end of October."

He also noted that textile industry has been facing some or the other problem since last year. Opening price of new season in 2007-08 stood at Rs20,000 per candy which rose to Rs26,000 in the first three months of 2008 and thereafter increased to Rs29,000.

Since last year, consumption has increased by 3.5 percent while production on the contrary, declined by 4 percent. Due to speculation created by some foreign companies, there was an uncontrolled hike in cotton prices like in the case of crude oil. Besides, sowing area of cotton has also dropped as farmers are now shifting to other cash crops.

Mr Dalal further added by saying that since the weather this year is good, they are expecting better production but exports are likely to fall compared to last year. In the previous year, exports stood at 8.5 million bales out of which Gujarat contributed about 4.3 million.

This year, however, the country may export only 4.5-5.0 million bales in which Gujarat cotton would still hold a major share with 3-3.2 million bales. Additionally, power cut, inflation, high labor cost, increased rate of interest which has recently soared to 13-14 percent from the initial 10-10.5 and a host of other problems have affected the purchasing power of the consumers as well as the overall infrastructure of the industry.


Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

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

Robert Brunner
Devereux

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search