Page 4 - Cotton

Govt meets stakeholders today as industry seeks ban on cotton exports

Here is a look at the major issues surrounding them despite import without duty

Textile in trouble

Govt must revisit the GM policy

Rise in yarn prices: TN's Tirupur garment units to go on 6-day strike

The price of cotton yarn has increased by Rs 40 per kg after the Centre reduced the import duty on cotton.

Import duty removal on cotton may help bring down prices: Textile Secy

The government's decision to remove import duty on cotton is likely to help bring down prices of the commodity, Textiles Secretary U P Singh said on Thursday. The finance ministry on April 13 waived customs duty on cotton imports till September 30, a move that will benefit the textile industry and keep prices low for consumers. Currently, cotton imports attract 5 per cent Basic Customs Duty (BCD) and 5 per cent Agriculture Infrastructure Development Cess (AIDC). The industry has been demanding a waiver of duty to lower domestic prices. "It would enable people who want to import. We are expecting that within a day or two, you would certainly see the impact on prices going down but at the same time we would not expect the prices to be very low because there is a shortage all over (the world)," Singh told reporters here. In India, cotton crops get affected because of unseasonal rains, and in the US, there were drought-like conditions. "So supply is less, demand is high....import duty

Textile, yarn firms demand duty-free cotton imports on dwindling supplies

Pipeline stocks will last for just about three-four months, companies say

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

Better realisations help larger denim makers tide over cotton blues

Raw cotton prices have more than doubled since mid-2020, leading to consolidation with the larger players banking on international business

Textile sector pitches for removing import duty on all varieties of cotton

The Centre estimates cotton production in 2021-22 at 36.25 million bales, while traders said it was around 33-34 million bales

Cotton spinners likely to report double-digit growth in revenues in FY22

Indian cotton spinners are likely to report double-digit revenue growth and all-time high profits in 2021-22, mainly driven by high demand and realisations, according to a report.

Demand by pressure groups for suspension of cotton futures irrational: MCX

MCX said pressure groups in the value chain of the cotton industry are making "irrational" demand for suspension of futures trade in cotton on its platform

Greaves Cotton soars 20%, hits all-time high on the back of heavy volumes

Up 52% so far in Jan; demand has surged after EV arm reported strong sales

Middle-men, traders creating havoc by pushing up price of cotton: Exporters

The TEA said the 11 per cent total import duty existing on cotton has been the reason for the cartelisation of players to increase the domestic cotton prices and make an abnormal profit

Punjab approves policy for giving relief to cotton picking farm labourers

The Punjab Cabinet on Wednesday approved a policy formulated for extending relief to cotton picking farm labourers affected by the damage caused to the crop by the pink bollworm pest attack

Kharif output: Oilseed production under a cloud but pulses look steady

Among kharif oilseeds, soybean and groundnut are the biggest in terms of both production and area under cultivation

Cotton, bajra and groundnut see big drop in acreage, shows data

The total area covered under all crops was more than their normal area, which is the average of the last five years

Kharif sowing till July 9 down 10.45% over last year, water levels high

Area under rice (-8.9%), soybean (-11.05%), bajra (-37.83%) and cotton (-17.51%) sees maximum shortfall

Pakistan to import sugar, cotton from India: Finance Minister Hammad Azhar

The Economic Coordination Committee on Wednesday allowed the private sector to import five lakh tonnes of white sugar from India, Azhar said

Top Pak economic body allows import of cotton and yarn from India: Report

Pakistan's Economic Coordination Council, a top decision-making body, on Wednesday allowed the import of cotton and yarn from India

US blocks cotton imports from China due to human rights abuses of Uyghurs

The US government issued an order to block cotton imports from a Xinjiang governmental organisation in China due to the ongoing human rights abuses of Uyghurs, the Department of Homeland Security said

Commodity picks: 2 November, 2020

Mustard seed at the benchmark Jaipur market is trading at Rs 6,160 per quintal; Benchmark cotton S6 (29mm) in Gujarat is quoting around Rs 19,100 per bale