Garment units in a tizzy as cotton prices approach Rs 1 lakh a candy

High cotton rates have denied them export opportunity created by drop in Chinese shipments

The volatility in cotton and cotton yarn prices seems to be taking a toll on the garments industry in India, which was gearing up to cash in on exports following the demand dip for Chinese exports, driven by lockdown in China. Prices of Shankar-6 cotton, a benchmark for exports and widely used for variety, are all set to touch Rs 1,00,000 per candy mark now.

The price of Shankar-6 cotton, a benchmark for exports, was quoted at Rs over Rs 90,000 per candy, up 96 per cent compared to around Rs 46,000 per candy in January 2021.

Adding logistics costs