21 अप्रैल, 2022
Highlights of CAI President Atul Ganatra's live interview
Cotton area will increase by 15 to 25 percent across India in the coming season.
Early sowing this time is expected to lead to early arrivals, which is likely to help cotton prices.
Farmers have become aware and smart, have understood exchange and trading, that's why they have stopped selling goods, still 15 percent cotton stock is with farmers.
Cotton prices are expected to come down somewhat after the May ice futures market is cut. But currently MCX is not able to run in accordance with Ice
MCX has an estimated stock of 1 lakh bales while top 6 MNCCs have a stock of 60 lakh bales and they buy and sell together in good coordination and influence (control) market prices. And carry out their business by doing research
Cotton sowing has also increased in the USA, an increase of about 20 to 25 percent.
Government accepts demand for removal of import duty on spinning mills two months late, still CAI welcomes decision. Our demand is that even after September, import duty should be completely removed so that free trade can be done.
The next 6 months are going to be very difficult for Spigening Mills.
Powerlooms in Tamil Nadu are considering going on strike to reduce yarn rates.
Spinning mills lobby government to impose stock limit on demand cotton.
Cotton yield is a huge problem in India. The yield of cotton is the lowest in India and the area is the highest.
We are repeatedly telling the government that there is a need to revolutionize the country's seed technology.
Mills is unhappy with MNCs, he says MNCs are causing huge losses, taking away all the profits there.
Several mills in Andhra Pradesh and Tamil Nadu have diverted up to 5 lakh spindles from cotton to polyester and viscose. There is also news that some mills have made a good profit by saving their reserve stock from the market price and have stopped production. Grasim Nagda has also increased production of viscose fiber to 15000 bales per day whose market price is around Rs 190 to 200 per kg while clean cotton cost is around Rs 350 per kg. It is clear that now the consumption of cotton will be reduced.
Now the cotton business is risky, the way of doing business has changed.
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Team Sis
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