Kharif cotton sowing for the season 2022-23 in Gujarat is likely to increase by at least 20 per cent, compared to the previous season as a mad rush for sowing the cash crop is being witnessed among farmers in the state. Cotton prices are ruling very high, both in the domestic as well as international […]
China 2021/22 cotton imports are forecast to fall more than 4.3 million bales from the previous year to 8.5 million, down 300,000 bales this month and significantly less than previous projections, the US Department of Agriculture said in its latest monthly report. It said this was mainly because massive earlier imports were still in bonded […]
India hiked the minimum support price for kharif crops by 4-9 per cent for the 2022-23 crop year, with paddy MSP being raised by Rs 100 to Rs 2,040 per quintal. The Cabinet Committee on Economic Affairs (CCEA) approved the increase in MSPs for all 14 kharif (summer) crops for 2022-23 crop year. “The MSP […]
India’s foodgrain production will rise 1.2% on year to a new record of 314.51 million tonnes (MT) for the 2021-22 crop year (July-June), according to the third advance estimate released by the agriculture ministry. In the second advance estimate released in February, the production was seen at 316.06 MT. Wheat production estimate for the current […]
As the 2021/22 global cotton season comes to an end in about 13 weeks, the industry posted gains in most major categories vs the previous season, with area, production and consumption all increasing vs 2020/21, the International Cotton Advisory Committee (ICAC) said in its latest monthly report. One of the few exceptions is world trade, which […]
Despite the removal of 11% import duty on cotton imports, spinning and composite textile mills have not been able to import global cotton as prices of cotton are still hovering around Rs 90,000 per candy (356 kg per candy). Cotton importers feel the duty removal came in too late as prices were already ruling high. […]
A sharp jump in domestic cotton prices since February, caused partly by a drop in output, has hit the country’s textiles-and-clothing value chain, rendering hundreds of thousands jobless. In the beginning of March this year, prices of cotton were Rs 76,000 per candy. But prices of the commonly used cotton variety have more than doubled […]
Global cotton logistics might be starting to sort themselves out after a long and painful struggle through the Covid pandemic, the International Cotton Advisory Committee (ICAC) said in its latest monthly report, adding that the conclusions were drawn solely from US export data. “The USA has greater means to effect changes than most other countries […]
Healthy cash accruals, supported by better-operating profits, and deleveraged balance sheets will keep the credit outlook positive for cotton spinners, despite higher planned capital expenditure (capex) and working capital requirements. Higher spreads1 between cotton and cotton yarn (refer annexures), together with buoyant domestic and export demand, and increased capacity utilisation levels, will push up the operating […]
The Centre has proposed merging the Jute Corporation of India Ltd (JCI) and the Cotton Corporation of India Ltd (CCI) to form a larger public sector entity to handle all textile fibre procurement. To that end, a request for proposal (RFP) has been issued in order to appoint a consultant for the merger of both […]
