News Tags

Related Keywords: cotton corporation of India, cotton prices shooting up, cotton stocks, e sale of cotton stock, minimum support price, msms textile mills, SIMA, Textile mills, Textile Ministry

With cotton prices shooting up, the Textile Ministry to keep prices under check has directed the Cotton Corporation of India to sell cotton purchased by it. CCI will start e-sale of cotton stock with it to to micro, small and medium-scale (MSMS) textile mills in a couple of days directly at minimum support price, according to the official.

Related Keywords: Bhiwandi powerloom units strike, Bhiwandi strike, control on yarn prices, grey cloth, illegal holding of yarn, minimum support price, permission to export cloth, Textile Industry, Textile processing unit

Strike has been called by Bhiwandi powerlooms since Monday demanding control on yarn prices and permission to export cloth . Approximately 9 lakh people are dependent on Bhiwandi’s powerlooms and related businesses of which nearly three-fourths of the 9 lakh powerloom units in Maharashtra’s Bhiwandi are on strike. The strike aims at ensuring less cloth is sent to the market, which may result in prices increasing.

Related Keywords: China reduced cotton imports, Cotton prices in domestic market, from India to China, increase in stock levels, minimum support price, plunge in cotton exports, protect cotton producers, reduction in import quota, subdued

Parliament was informed today that the cotton prices in the domestic market are subdued due plunge in India’s exports to China in 2014-15. Export of cotton from India to China has witnessed turn down by 56.72 percent from 61 lakh bales in 2013-14 to 26 lakh bales in 2014-15.

As a result, there had been slowness in the domestic prices as compared to last year, said Commerce and Industry Minister Nirmala Sitharaman in a written reply to Rajya Sabha. Cotton policy adopted by China is the major reason for less imports.

Related Keywords: cotton cultivation, Cotton growers, cotton research centre, minimum support price, textile unit, Warangal farmers, weed management

Majority of farmers in Telangana state are engaged in cotton cultivation. In Warangal district, about 65 to 70 per cent of farmers cultivate cotton as main crop. Farmers in the Warangal district have urged the state government to help in making modern biotechnology based advancements in cotton cultivation available to cotton growers in Warangal as well as those in other districts of the state.

The Rythu Sangham leaders have urged the government to set up a cotton research centre and a textile unit in Warangal district for the benefit of farmers and to create employment opportunities.

Related Keywords: Central government of India, Confederation of Indian Textile Industry, cotton yarn, demand for exports, DGFT, export of cotton, exporter, globally cotton prices, minimum support price, Secretary-General, targeted export volume

The Centre government of India has done away with the registration requirement for exports of cotton and its yarn, the exporters now need not register with the Director-General of Foreign Trade before making the shipment. The government said on Monday in two separate notifications.

Earlier, traders were required to register their targeted export volume in advance for the entire year. With the change in rules, it is likely to speed up shipments, particularly when overseas demand for cotton and yarn has dropped sharply.