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Cotton Policy To Help Textiles Industry: Govt Govt proposes cotton policy to help textile industry: The government today said it will soon formulate a cotton policy to help India's textile industry better compete in the international market. "The Center proposes to formulate a proactive cotton policy and a level playing field for the textile industry to help it compete with other countries," Minister of State for Textiles Panabaaka Lakshmi said in a written reply in the Rajya Sabha. The minister said, the government has also constituted a Working Group under the chairmanship of Textile Ministry Secretary to formulate a National Fiber Policy. The main goal of the Working Group is to ensure there is self-sufficiency in fiber, not only to meet the domestic demand but also for exports and value added finished products, she said. The Working Group also aims in promoting all fibers, including cotton fibers. The textile sector exported garments worth Rs 26,484 crore during the first half of this year, a 21 per cent rise from the year-ago period Courtesy - PTI | |
Global Cotton Prices May Rise On Low Supply Global cotton prices are likely to rise by nine per cent to 67 cents per pound in the 2009-10 season due to shrinking global stocks and increasing consumption, the International Cotton Advisory Committee (ICAC) said today. Increase in global cotton rates will add to the woes of the domestic garment industry, reeling under falling demand from importers and high domestic cotton prices. At present, domestic cotton costs are higher than the global market. Shankar cotton is ruling at Rs 27,000 per candy today against Rs 21,500 per candy in October, said an official with the Confederation of Indian Textile Industry . One candy has 356 kg of cotton. “Any rise in world cotton price is surely going to affect the domestic price, which will further have impact on the textile industry as they won’t be able to buy the fiber at such high prices,” the official said. The 2009-10 season’s average Cotlook A Index is forecast at 67 cents per pound. This would represent a 9 per cent increase from the 2008-09 average, ICAC said in a statement. This means domestic prices, which have already risen by 20 per cent in just two months, may further jump taking cues from the global market. Courtesy - Business Standard | |
Last Five Years Cotton Prices Last five year cotton prices | Quality | 25/11/08 | 25/11/07 | 25/11/06 | 25/11/05 | 25/11/04 | | S-6 29mm | 21700 | - | 18200 | 17500 | 17000 | | V-797 | - | - | - | - | - | | Quality | 25/11/08 | 25/11/07 | 25/11/06 | 25/11/05 | | MP28mm | 22200 | - | 17200/300 | - | | MP 29MM | 22200 | - | 17500/700 | - | Cotton from Karnataka and Andhra
| Quality | 25/11/08 | 25/11/07 | 25/11/06 | 25/11/05 | | 29mm | 22500 | - | 17600 | - | | 30mm | 23600 | - | 18500 | 18500 |
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