Home / Knowledge / News / Textiles / Tamil Nadu urged to shield MSMEs from cotton price rise

Tamil Nadu urged to shield MSMEs from cotton price rise

14
Sep '18
Tamil Nadu urged to shield MSMEs from cotton price rise
The South India Spinners Association (SISPA) recently urged the Tamil Nadu state government to formulate a policy to protect micro, small and medium enterprises (MSMEs) following the rise in cotton prices. The state should ensure a buffer stock of cotton and an affordable raw material pricing mechanism, the association said in a press release.

The rise in cotton prices benefits multinational companies, traders and the Cotton Corporation of India, the release quoted the SISPA president SK Rangarajan as saying.

Companies and traders buy cotton at the minimum support price, hoard the stock and inflate the prices later affecting end-users and farmers, he said. The SME mills lack the financial capacity to buy cotton and store it.

In April, the price of cotton hovered around ₹38,000 per candy-level and reached ₹48,000 in June, he said, adding that the SME sector is unable to repay bank loans, resulting in non-performing assets. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Bangladesh apparel exports jump 20% in July–Oct 2018

Apparel/Garments | On 19th Nov 2018

Bangladesh apparel exports jump 20% in July–Oct 2018

Readymade garment exports from Bangladesh increased by 20.08 per cent ...

95% Britishers want shopping centres for all: Hammerson

Apparel/Garments | On 19th Nov 2018

95% Britishers want shopping centres for all: Hammerson

As many as 95 per cent of British people feel that shopping centres...

Courtesy: Hyosung

Textiles | On 19th Nov 2018

Hyosung leading global market with creora

Hyosung is leading the global market with ‘creora’, the brand name of ...

Interviews View All

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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


November 2018

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

news category


Related Categories:

Advanced Search