The Cotton Corporation of India (CCI) has procured about 5 lakh bales this season of which 4 lakh bales have been procured at minimum support price (MSP) and the remaining 1 lakh bales as part of its commercial operations, senior officials at the CCI said.
Browsing: Cotton Corporation of India
The Cotton Association of India (CAI) has released its first estimates of the crop for the 2015-16 season beginning on October 1 at 380 lakh bales of 170 kg each. This is almost similar to the output of 382 lakh bales achieved in the 2014-15 season.
Another bumper crop of cotton is in offing and tremors are felt already on the price front. The Cotton Corporation of India (CCI) is getting ready for yet another year of minimum support price (MSP) operations.
The predominantly cotton-based textile industry has become highly competent in terms of operational efficiency with the state-of-the-art technology, skilled manpower, high productivity, high quality, etc.
Cotton spinning mills in northern India are planning to shut down one day a week. According to Chandigarh-based Northern India Textile Mills´ Association (NITMA)
The predominantly cotton based textile industry has been producing almost 75 per cent of the spun yarn from cotton and therefore, this industry has been subjected to crisis due to volatility in the prices.
Cotton imports by China in June have fallen by 26 per cent already. The see-sawing of prices in major countries including India is causing a lot of anxieties. Chinese prices are under pressure from significant left-over commercial stocks as well as sales of state reserve cotton, kicked off recently.