Government steps in to address concerns of Spinning Sector due to rising cotton prices
Posted on 16 Jul, 2016 1:02 pm
Government steps in to address concerns of Spinning Sector due to rising cotton prices
CCI to sell cotton stock to spinning mills in MSME category only
The recent spurt in cotton prices has resulted in higher input costs for the spinning sector in India. In view of this situation, the Government reviewed the situation and decided the following:
Cotton Corporation of India will sell its existing stock, purchased under MSP, to spinning mills in the MSME category only. This would be based on firm indents by such MSME spinning textile units registered with the Office of Textile Commissioner.
Sowing has picked up
Noting that sowing has picked up, the representative from the Department of Agriculture informed that 75.41 lakh hectare of sowing has taken place as on 15.07.2016, as against normal sowing of 78 lakh hectare in corresponding period of previous years.
It was further informed that the Department of Agriculture is taking steps to manage whitefly attack in cotton in 2016-’17, in states of the Northern Zone. A Central team has been assigned to monitor whitefly infestation and management; advisories have been issued to states in this regard as well.
Cotton stock is adequate
The Textiles Commissioner informed the opening balance is expected to be 43 lakh bales on 30th September, 2016. However, she was asked to keep monitoring the situation closely.
Courtesy – Press Information Bureau, Government of India