As the cotton season (October 2015 to September 2016) comes to an end and cotton prices have shot up to nearly Rs 50,000 a candy, textile industry associations from different parts of the country met the Union Textile Minister Smriti Irani in New Delhi.
Browsing: cotton prices
As the cotton season (October 2015 to September 2016) comes to an end and cotton prices have shot up to nearly Rs 50,000 a candy, textile industry associations from different parts of the country met the Union Textile Minister Smriti Irani in New Delhi.
With cotton prices rising to Rs 50,000 per candy in the end of the 2015-16 cotton season, many spinning mills in Tami Nadu have cut down on yarn production.
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.
At the end of 2013/14, international cotton prices were around 80 US cents/lb and have continued falling in the first two months of the new season. Given the predicted 1.8 million tons of surplus cotton production and changes in China’s cotton policy,
The USDA’s latest report featured an increase to global figures for 2014/15 beginning stocks (?,000 bales, to 100.3 million) and production (?,000 bales, to 118.0 million) as well as a decrease to the estimate for world consumption (-479,000 bales, to 112.1 million).