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Related Keywords: APTMA Chairman Aamir Fayyaz urged, Federal government, immediately withdraw restrictions on import of cotton, international buyers, medium staple cotton, meet export requirement, need of contamination free fine, Pakistani textile industry, produce goods, Quality cotton not available in market, quality textile products, spinning industry

The Pakistani textile industry is badly in need of contamination-free fine and medium staple cotton to produce goods to meet the export requirement of quality textile products by the international buyers. Hence, APTMA Chairman Aamir Fayyaz urged federal government to immediately withdraw restrictions on import of cotton to let the industry meet the export.

He stressed that the government should immediately announce withdrawal of 4 percent Customs duty and 5 percent Sales tax as per the announcement made by the prime minister vide an initiative of export led growth package.

Related Keywords: Commission for Agricultural Costs and Prices, cotton expected to increase next year., farmers preparing fields for kharif sowing, government, higher MSP and normal monsoon, long staple cotton, medium staple cotton, MSP of cotton, mulls increase minimum support price, recommendation of CACP

The government is mulling to increase the minimum support price (MSP) of cotton by Rs 160 per quintal, to Rs 4,320 for the 2017-18 crop year beginning July as farmers are preparing fields for kharif sowing.

According to sources, the Agriculture Ministry has proposed increase in cotton MSP by Rs 160 per quintal for the 2017-18 crop year, based on the recommendation of the Commission for Agricultural Costs and Prices (CACP).

Related Keywords: abnormal volatility, Centres intervention, check soaring prices of cotton, Cotton Spinning Mills, farmers nor consumers benefited due to rise, Indian Texpreneurs Federation, ITF, medium staple cotton, preventive measures, textile sector body, unbearable loss to the industry

Indian Texpreneurs Federation (ITF) a textile sector body urged for Centre's intervention to check the soaring prices of cotton in the last two months which has resulted in unbearable loss to the industry.

In a letter to Union Textiles Minister Santosh Kumar Gangwar, Indian Texpreneurs Federation (ITF) Secretary Prabhu Dhamodharan said that the per candy rate, which was Rs 35,000 two months ago, had skyrocketed to Rs 41,000 for medium staple cotton but neither the farmers nor consumers benefited due to the rise.

Related Keywords: cotton corporation of India, cotton price, direction of Union textile minister, farmers started bringing, first lot of cotton harvest, long staple cotton, market in hands of private traders, medium staple cotton, MSP, reluctant to start procurement process, to mandis

The Cotton Corporation of India (CCI) has shown reluctance to start procurement process of the season despite directions from Union textile minister for state Santosh Kumar Gangwar on October 1, leaving the market in the hands of private traders as the farmers have started bringing the first lot of cotton harvest to the mandis.

Even Punjab chief minister Parkash Singh Badal had met Gangwar on October 11, appealing him to direct the CCI to start procurement of cotton crop which had come under whitefly attack.

Related Keywords: bumper harvest, cotton, cotton corporation of India, cotton farmers, cotton prices plunge, Gujarat and Maharashtra, increase purchase, long staple cotton, medium staple cotton, MSP, procurement operation, Textiles Minister Santosh Gangwar

The government on Wednesday has directed the Cotton Corporation of India to increase its purchase from the major producers, including Gujarat and Maharashtra as cotton prices have plunged below the minimum support price fixed by the Centre due to an expected bumper harvest.
Prices have also slumped below the MSP in many places because of weak global markets , which has stopped exports.