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

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Silke Brand-Kirsch
Schlegel und Partner

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marcel Alberts
Eurofibers

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Silvia Venturini Fendi
Fendi s.r.l

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
January 2017

January 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