SIMA president Ravi Sam said cotton arrivals in the current season were less than 60% as on March 31, compared to the normal arrival of 85% to 90% for several decades.
COIMBATORE: The Southern India Mills Association (SIMA) has appealed to the central government to exempt cotton from 11% import duty till October this year, as was done last year.
Global exports of cotton textiles are set to decline to $143.87 billion during the calendar year 2022, as against $170 billion in 2021 and $154 billion in 2020.
He has said that the price of cotton during the peak arrival months (December to February) of last year was around Rs 9,000 per quintal (100 kg), despite the daily arrival rate being 1.32 to 2.2 lakh bales, the price of cotton during April 2022 will be Rs 11,000. per quintal was more than Rs. The daily arrival during the peak season in the current year was only about 1 to 1.3 lakh bales which was very low.
“Ginning of cotton will be difficult during the rainy season and hence, farmers should sell the available kapas to get better price. The industry may face shortage of cotton at the end and beginning of the season till new cotton arrives " Therefore, it is recommended to exempt ELS cotton from 11% import duty and other varieties of cotton from June to October, similar to the exemption granted from April to October 2022.
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