Home / Knowledge / News / Textiles / Cotton prices soar due to expanding demand
Cotton prices soar due to expanding demand
26
Aug '10
Cotton prices in the Lake Victoria zone have soared up by 33 percent, to Tshs 800 (US 0.56 cents) from Tshs 600 (0.42 cents) per kg on account of a stiff competition for fibre in both, domestic as well as international market.

According to an expert, Lake Victoria (western) cotton growing area including Mwanza, Shinyanga and Mara regions have witnessed increased competition for cotton. Such an increased competition in western cotton growing region and the augmented cotton prices in international market played vital role in cotton prices flaring up in Tanzania, he added.

It has been speculated that these prices may show further increases as Pakistan, which is one of the major cotton growers of the world, suffered from floods recently. These worst floods have mostly affected the cotton growing regions of Pakistan, which is expected to be down by a huge volume.

Price of one kg cotton seed is Tshs 800 (0.56 cents) and is still rising up. Cotton ginneries who intended to purchase around 30 million kg cotton seeds during the current season, could buy only eight million seeds by last weekend.

Last week, over 30 cotton buying companies bought around 113 million kg of cotton. Aiming to improve country's cotton production capacity to 1,500,000 bales by the year 2015, Tanzania, in recent years, has introduced a special program.

Tanzania Gatsby Trust (TGT) allocated US $7.2 million for the period 2008 to 2010, to execute cotton and textile development program, which will help cotton harvest to meet the target. This program will prove helpful for improving productivity of cotton, by the year 2015, to 1,500 per hectare from 750 kg per hectare, currently.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Bangladesh Bank

Apparel/Garments | On 22nd May 2018

Bangladesh Bank enhances EDF loan limit to $25 million

Bangladesh Bank has enhanced the loan limit under Export Development...

Sri Lanka's textile imports up 32.5% in February 2018

Textiles | On 22nd May 2018

Sri Lanka's textile imports up 32.5% in February 2018

In what might be an indication of higher exports in the coming...

Provide power at Rs 8/kWh to textile units: APTMA

Textiles | On 22nd May 2018

Provide power at Rs 8/kWh to textile units: APTMA

All Pakistan Textile Mills Association (APTMA) has asked the...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Harmeet Singh

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Suresh Patel
Sidwin Fabric

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sonam & Paras Modi
SVA

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

Mike Hoffman
Gildan Activewear SRL

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

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth 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

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