Even after the disruptions caused due to the lockdown, cotton prices are trading at all-time highs. This is because the demand for cotton has been strong and the Indian mills are holding more than 100 days of inventory.
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Cotton Association of India (CAI) has reduced its estimate for the cotton crop in the month of May. The estimate of the cotton crop for 2020-21 has been reduced by 0.4 million.
Cotton Association of India (CAI) has reduced its estimate for the cotton crop in the month of May. The estimate of the cotton crop for 2020-21 has been reduced by 0.4 million.
According to the Southern India Mills’ Association (SIMA), the import duty on raw cotton would erode the competitiveness India’s value-added segments that has a business size of around Rs 50,000 crores in exports and Rs 25,000 crores in the domestic market.
According to the Southern India Mills’ Association (SIMA), the import duty on raw cotton would erode the competitiveness India’s value-added segments that has a business size of around Rs 50,000 crores in exports and Rs 25,000 crores in the domestic market.
India’s entire domestic supply chain of cotton is getting affected due to Covid-19. According to King Mukherjee, President and Founder, Global Impex USA, this is referred to as ‘Tsunami Covid’.
Cotton sowing in Punjab has been delayed because only 20% of the crop has been sown till May 10. Also, only 63,220 hectares of land has been used for sowing in Punjab, according to Punjab Agriculture Department.