Indian cotton prices are seeing unusual rise during the current peak arrival season.
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Gujarat, which has long been a hub for premium cotton for textile mills in Tamil Nadu, in the wake of increased adulteration with substances like comber noil and other cotton waste by Gujarat?s ginners, has drastically cut back their cotton procurement.
The Cotton Association of India (CAI), which has released its December estimate of the cotton crop for the 2016-17 season beginning from October 1, 2016, has placed the cotton crop at 341.00 lakh bales of 170 kg each.
Higher production world over and increasing demand is the state of the cotton industry. On the day of inauguration of the 45th President of the United States, cotton industry people gathered in Lubbock, USA for the Plains Cotton Growers’ cotton meeting. The year 2016 has been phenomenal for cotton production in the High Plains of Texas and the production in this region is expected to be about 5.05 million bales.
The Union Textile Ministry has announced unique terms and conditions for procuring fully pressed cotton bales from Cotton Corporation of India (CCI) for the benefit of MSME textile units.
The International Cotton Advisotry Committee (ICAC) Secretariat forecasts that the season-average Cotlook A Index in 2016/17 will range between 66 and 83 cts/lb, with a midpoint of 74 cts/lb, which would be 4 cts/lb higher than last season.
Following a 35 per cent increase in cotton prices in 2015, Brazilian cotton prices continued to rise in 2016, in which they grew 22.6 per cent over 2015.