Home / Knowledge / News / Textiles / Ambiguity upsets cotton farmers
Ambiguity upsets cotton farmers
20
Jul '10
The falling cotton prices during times of ambiguity about exports of yarn, has irked cotton farmers.

Since the crop was at a stage of being harvested, Prime Minister, Yusuf Raza Gilana had directed the Ministry of Textile to solve the issue at the earliest possible, so as to bring consistency in cotton prices.

More so, a joint meeting, which was arranged by the ministries of textiles and agriculture with spinners, cotton farmers, ginners and the value-added segment, did not succeed in reaching a decision on the issue of extending duty on exports of yarn.

As per former Federal Minister for Industries and Special Initiatives, removing yarn exports had disturbed the cotton prices. He also said that, it was unjust to subsidies spinners and value-added segment on the expense of farmers.

As per industry experts, cotton farmers sharply refused with the extension of duty on exports of yarn by an additional two months. According to them, cotton arrival in market pick up speed during August and September. Therefore, if duty on yarn exports is extended by two month, then it was more likely that cotton rates would fall steeply, probably below Rs 5,000 level.

Cotton farmers have warned the government of a nation-wide protest, if the market falls badly owing to faulty policies.

Following this, spinners too, apparently have urged the government to opt for a free market policy, wherein no restrictions are imposed on yarn trade, as they said that, they were the worst hit with imposition of duty in the last fiscal. Even the ginners have warned of reactions like no purchase of Phutti if the current policy continued.

While various options are being looked in to by the government to solve the problem, one of the suggestions however, is to lessen the duty on exports of yarn from the present 15 percent to 7.5 or 5 percent. The other suggestion under consideration is to levy a quota of 32,000 – 40,000 tons per month.

Fibre2Fashion News Desk - India


Must ReadView All

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Veronique Lee
Modavanti

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

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Ashok Desai
Bombay Textile Research Association

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

Silke Brand-Kirsch
Schlegel und Partner

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

Kerem Durdag
Biovation II LLC

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

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

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

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


May 2018

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

news category


Related Categories:

Advanced Search