Home / Knowledge / News / Textiles / CCI wrings hands in glee as cotton prices surge past MSP
CCI wrings hands in glee as cotton prices surge past MSP
04
Apr '09
The Cotton Corporation of India (CCI), the state owned cotton trading firm and National Agricultural Cooperative Marketing Federation (Nafed) also a state owned entity are sitting on a huge stock of 29 million bales purchased in the just completed cotton season.

With stocks running out from the main cotton trading markets, cotton prices have started surging and have gushed past the Minimum Support Prices (MSP) in the open markets, in a few varieties, in which both the agencies are sitting on huge stocks.

The textile mills who in the last few months were working on a hand to mouth situation on expectations of a bail out package are now approaching CCI to take advantage of the discounts offered by the cotton trading firm on bulk purchases.

But this latent demand is also resulting in a growth in prices of a few varieties of cotton, which are now quoting above MSP levels, notably of the Gujarat grown Shankar-6 variety, which is now priced at Rs 1,500 per ton above the MSP price of 28,500 per ton.

This new development has raised the hopes of CCI which was expecting to lose money on its cotton stored in the warehouses as it was not able to attract prices over and above that of MSP prices and now hopes to make a tidy profit from its stocks.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Mikes Photos from Pexels

Apparel/Garments | On 17th Oct 2018

Bangladesh garment exports swell 14.66% in Q1 FY19

Readymade garment exports from Bangladesh increased by 14.66 per cent ...

Courtesy: Sourcemap

Apparel/Garments | On 17th Oct 2018

Sourcemap launches 1st free digital map of apparel units

New York-based software company Sourcemap recently launched the Open...

US apparel industry is already highly tariffed: AAFA

Apparel/Garments | On 17th Oct 2018

US apparel industry is already highly tariffed: AAFA

The American apparel and footwear industry is highly tariffed, as per ...

Interviews View All

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Top executives, Fabric manufacturers

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Veronique Lee, Modavanti

Veronique Lee
Modavanti

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

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

C Dhandayuthapani,

C Dhandayuthapani

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

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

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

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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


October 2018

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

news category


Related Categories:

Advanced Search