News Tags

Related Keywords: Brazil and African countries, caused delay in exports, Demonetization move, driven up prices, force buyers to switch to other producers, levels higher than global market, one million bales of cotton, Supply crunch, top producer from India, United States

Demonetization move has caused delay in the exports of 1 million bales of cotton from top producer India. The supply crunch has driven up prices in India to levels higher than in the global market and could force buyers to switch to other producers like the United States, Brazil and African countries.

Related Keywords: buyers look to other markets, CCI, cotton bales, driven up prices higher, ICAC, lack of demand in apparels industry Cotton prices across India, ruling high on subdued arrivals, Supply crunch, Textile Industry, than international prices, traders unable to meet obligations

The supply crunch in the textile industry had driven up prices higher than international prices and since the traders are unable to meet obligations, buyers could look to other markets. Cotton prices across the country are ruling high on subdued arrivals.

The lack of demand in the apparels industry has also impacted arrivals and although farmers are getting high prices, they prefer to hold back because of the currency shortage in the market.