The sharp rise of over 35 per cent in domestic cotton prices since May 2016 will squeeze ginners and spinners profitability by over 15 per cent, says India Ratings and Research (Ind-Ra). Ind-Ra expects prices to remain elevated around the current levels of Rs 120 per kg to Rs 127 per kg till the end of the cotton crop year of September 2016. The spike in cotton prices will adversely impact the profitability of pure cotton ginners and spinners due to their inability to pass on this steep increase to their customers, at once, due to decreasing cotton demand and increased competitiveness of manmade fibre.
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The Cotton Textiles Export Promotion Council, known as TEXPROCIL, has been the international face of cotton textiles from India facilitating exports worldwide. The Council connects international buyers with appropriate suppliers and facilitates interaction that enables them to source their specific needs. Siddhartha Rajagopal, Executive Director, Texprocil, provides some wish-list for the industry and the Government in boosting cotton consumption in India.
Indian cotton crop for the next season beginning in October will remain at the same level as the current year. Mumbai-based Cotton Association of India (CAI) released the first estimate for the next year’s cotton crop beginning on October 1.
India’s cotton import has soared above 20 lakh bales thanks to skyrocketing cotton prices. While Cotton Advisory Board (CAB) had projected imports of around 15 lakh bales during 2015-16, trade and industry officials opine that imports have already crossed 20 lakh bales.
Pest attacks, monsoon delay and switch-over to pulses and oilseeds by farmers are expected to pull down India?s cotton planting its lowest level in seven years.
Pest attacks, monsoon delay and switch-over to pulses and oilseeds by farmers are expected to pull down India?s cotton planting its lowest level in seven years.
Italy, Germany, Romania and Spain were the largest importers of cotton fabrics in the EU, accounting for about 50 per cent of total EU imports in the last 10 years.