President highlighted the pressing issue of low cotton production in India, attributing it to outdated BT seed technology, climate change, and the El Niño effect.
The 101st Annual General Meeting (AGM) of the Cotton Association of India (CAI) took place, where the 14th President, Atul Ganatra, addressed attendees, marking his 6th year in office. With a warm welcome to participants, the President reflected on CAI’s 102 years of service to the cotton trade and textile industry.
The 101st Annual Report, Directors’ Report, and audited Annual Accounts were distributed well in advance, adhering to legal requirements.
Before delving into the official AGM agenda, Ganatra shared thoughts on the domestic and international cotton scenario, emphasising the challenges and opportunities. The President highlighted the pressing issue of low cotton production in India, attributing it to outdated BT seed technology, climate change, and the El Niño effect.
Ganatra also addressed the current challenges faced by the cotton industry, including a 30% reduction in cotton yield over the years. He underscored the urgent need for new seeds, the impact of climate change on non-irrigated areas, and the hindrance posed by the duty on cotton imports in India.
The President discussed the mismatch between the textile industry’s demand and the current cotton production, hindering mills from operating at full capacity. The report highlighted the increase in spindleage due to state government subsidies, potentially leading to a surge in cotton consumption.
Current cotton markets were reported at Rs.54,000/- per candy, with concerns raised about further price declines leading to increased MSP procurement by CCI. Unfavourable rain patterns and quality issues due to November-December rain impacted cotton yields and quality.
The report detailed CAI’s involvement in international conferences, notably hosting the ICAC Cotton Conference in Mumbai, focusing on increasing Indian cotton yields. Additionally, a successful cotton conference in Hyderabad drew attention to industry challenges and solutions.
The report acknowledged CAI’s efforts in providing daily rates through weekly committees, along with the initiation of daily arrivals information, a commendable achievement for the organisation.
During the meeting, Atul Ganatra assumed the role of the President of CAI. Bhupendra Singh Rajpal was appointed as the Vice President, Vinay N Kotak as the Additional Vice President, Shyamsunder M Makharu as the Honorary Treasurer, and Rintu K Pandya as the Honorary Additional Treasurer.
In conclusion, the 101st AGM of the Cotton Association of India offered insights into the challenges faced by the cotton industry, emphasising the importance of technological advancements, policy reforms, and international collaboration for sustainable growth.