Home / Knowledge / News / Textiles / Govt raises purchase price of cotton lint

Govt raises purchase price of cotton lint

13
Apr '10
The Cotton Development Authority (CODA) in Kenya, responding to the plea of industry players to regularize cotton prices has set a new and higher fixed price, thus furthering an opportunity to the cotton farmers, to generate higher earnings.

The price which formerly varied between Sh21 and Sh25 per kilo has been raised and fixed at Sh32 per kilo by the Authority.

As cotton will be made available to the ginners in bulk at several buying centres, the farmers will not anymore be required to incur transportation costs, a statement released from Ministry of Agriculture specified.

Imports of low-priced second hand clothes coupled with liking for foreign made garments are the factors that have created pressure on the industry, compelling several textile companies to put down their shutters. Over 41 companies, since 2006, have shut their mills, rendering over 400,000 workers jobless.

In the past, indications did follow from the side of Prime Minister Raila Odinga, that plans to shore up the industry from the wreck of financial wretchedness will soon be made public, thus ensuring that the sector resumes its vitality.

The premier said that, subsidies and tax waivers are amongst other measures that are laid down to aid the investors, and also that, the Ministry of Agriculture has been empowered to interfere in case the industry players neglect to comply with the new rules.

Also the cotton ginners have been asked to update their machinery so as to raise productivity and increase their incomes.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 23rd Sep 2021

Global economic recovery continues but remains uneven: OECD

The global economy is growing far more strongly than anticipated a...

Pic: Shutterstock

Textiles | On 23rd Sep 2021

President Biden plays down probability of US-UK trade deal

US President Joe Biden has played down the chances of a post-Brexit...

Pic: Shutterstock

Textiles | On 23rd Sep 2021

ADB revises down Cambodia’s growth forecast, sees rebound in 2022

Cambodia’s economy is projected to grow by 1.9 per cent this year...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Ritu Oberoi,

Ritu Oberoi

Mumbai-based Forsarees is a socially driven business enterprise, working...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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


September 2021

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


Advanced Search