Home / Knowledge / News / Textiles / Rising demand, cotton prices surge by 15-30%

Rising demand, cotton prices surge by 15-30%

19
Jul '10
As per NCDEX Knowledge Management Department Economist, Kavita Chacko, since the beginning of the year, amidst different varieties of cotton, the prices have increased by 15-30 percent, owing to restricted supplies and high demand.

In June, cotton prices reach new heights, practically its peak, owing to active buying by mills and firm demands by yarn producers in Asian nations. The net dearth in the raw material supply, clubbed with increased buying, especially from China, resulted in the practical market prices of cotton move ahead, informed Chacko.

During June 2010, the price of Shankar-6 variety of cotton ruled about Rs 29,500 per candy (356 kg) in the market. Local prices were maintained by fresh demand for exports, post government withdrawing the ban on exports, averred Chacko.

Again in June, cotton prices rose to record highs, mainly on the back of restricted supplies and increased demand. This ascending price trend was supported by the increase in demand for the raw material from China.

Now the government is intending to fix the volume of cotton exports from the country per year, announcing in advance the quantity available for exports and for local use.

However, monsoon failed to meet farmer's expectations in June and sowing in many parts of northern zones was affected. But the recent upward trend in monsoons, which has covered most of the nation, has boosted the prospects for cotton sowing.

More so, as the Directorate of Cotton Development, June 2010 end witnessed a 19 percent rise in cotton acreage on a year-on-year basis. The area for cotton cultivation stood a little more than 2.6 million hectares.

For the current season, a number of agencies have been predicting a steep rise in Indian cotton production, with farmers shifting to cotton, due to better crop earnings. These agencies have predicted local production of cotton, for the year 2010-11 to cross 30 million bales.

Fibre2Fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 15th May 2021

Australian govt earmarks Au$1 mn for boosting fashion industry

The government of Australia has earmarked Au$1 million to promote and ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 15th May 2021

Prime Content| US textiles & apparel imports grow 4.32% in Q1 2021

The import of textiles and apparel by the United States increased by...

Pic: Amanda Wakeley

Fashion | On 15th May 2021

British luxury fashion company Amanda Wakeley enters administration

The British luxury fashion designer Amanda Wakeley’s company, AW...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

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 2021

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


Advanced Search