Home / Knowledge / News / Textiles / Cotton imports may shoot up by 60%
Cotton imports may shoot up by 60%
26
May '09
Thanks to the increase of nearly 25-40 percent in the Minimum Support Price (MSP) of cotton, implemented by the government of India, the country could end up importing a higher number of bales in the current cotton season.

International cotton prices are quoting at a discount ever since the government owned agency Cotton Corporation of India (CCI) started its procurement, forcing eligible importers to import cotton which is available at a lower rate.

Fibre2fashion spoke to Mr DK Nair, Secretary General of the Confederation of Indian Textile Industry (CITI) was very forthcoming when he said, “About 500,000 bales (1 bale = 170 kg) of cotton has arrived in the country so far and another 500,000 bales may be imported in the remaining part of the current cotton year, since ours is the costliest cotton in the world today and mills are looking for cheaper options abroad”.

He added by saying, “An unprecedented increase in imports may lead to decline in prices for the new crop and if this happens, it would be the result of reckless government intervention in the cotton economy during this year. The Government needs to separate populism from policy and to recognise the interdependence of cotton farmers and textile mills”.

Mr KF Jhunjhunwala, Chairman of Cotton Textiles and Allied Products Research Foundation, and Past President of Cotton Association of India, said, “This year import of cotton till September will touch 800,000 bales out of which 500,000 will be extra long fibres and 300,000 bales would be medium and small staple fiber”.

“Every year we import approximately 600,000 bales of cotton so this year it will exceed by only 200,000 bales which is not a matter of concern, though it is tough to predict about the future because it depends on the behaviour of the weather and if it rains well situation will be good”.

Fibre2fashion News Desk - India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

October 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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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