Cotton Price

Increased capacity utilisation, softening cotton prices set to help sector: Analysts

The Quality Control Order for mandatory certification of cotton bales is good for the Indian industry as there is a need to improve the quality of cotton exported from the country, according to an Aditya Birla Group official. "If they have done anything on quality control it is good for the industry. Cotton is an internationally traded commodity and India is the largest producer of cotton in the world. So obviously, you need to improve the quality of cotton which is exported out of the country. It must meet international standards," Thomas Varghese, Business Head - Textiles at Aditya Birla Group, said. He was speaking on the sidelines of an Assocham Summit here on Thursday. The government on Wednesday said it has approved the Quality Control Order for mandatory certification of cotton bales to augment the supply of good quality cotton to the textile industry. A day before, the decision was taken at the fifth interactive meeting with the Textile Advisory Group here to review the ...

The minister's comments were in response to a question of poor quality silk coming into the country from China

Should you hold textile stocks amid rising cotton prices

Several cotton spinning mills in India have slashed or ceased cotton production on the back of higher prices. Analysts have now turned cautious over the textile sector's outlook for the near-term

At the bourses, shares of textile stocks like KPR Mills, Welspun India, and Vardhman Textiles have tumbled up to 45 per cent so far this year.

The company said it continues to witness encouraging trends via their online channels, and remains confident of their long term sustainable and profitable growth ahead

According to a report, global garment retailers are asking Indian exporters to reduce apparel prices as cotton prices have dropped 16 per cent and the Indian rupee has devalued against the US dollar.

Analysts expect that the inflated cotton prices will continue to haunt small-sized yarn spinners during the first half of FY23 (H1-FY23). However, a good monsoon season can paint a different story

Despite the pandemic, the hub posted exports of Rs 33,525 crore in 2021-2022, contributing to around 1 per cent of the country's exports revenue

The unabated surge in prices of cotton and cotton yarn may affect the country's apparel exports target of USD 19-20 billion during the current fiscal, AEPC chairman Narendra Goenka said on Thursday. He said that the prices have jumped by about 125-130 per cent during the last 18 months and one of the reasons for that would be "unchecked" exports of cotton and cotton yarn. He suggested the government to impose a temporary ban on exports of cotton and cotton yarn like Indonesia has done for its palm oil. "In 2021-22, the exports were USD 16 billion and we are targeting USD 19-20 billion this fiscal. But because of the price rise, it looks to be a concern on achieving the target. The industry is facing a big challenge at the raw material front," Goenka said. He added that if the price rise does not stop, global customers would start looking at sourcing options other than India. "About 60-70 per cent of cotton and cotton yarn are going to our competitor countries like Bangladesh and .

Indian cotton spinners are likely to report double-digit revenue growth and all-time high profits in 2021-22, mainly driven by high demand and realisations, according to a report.

New stock arrivals as well as the Omicron Covid-19 variant's expected impact on demand is likely to arrest any further rise in cotton prices during the short-term, said India Ratings and Research

In other words, it is political compulsion, not political expediency, that has prompted the Centre to lift higher quantities of grain, pulses and other farm commodities

Indian exporters aren't pursuing the Chinese market either, as travel to that country to address quality or quantity issues post shipment will be difficult

Though the government's action is meant to benefit 8 million cotton growers, in reality it may hurt them the most

After hitting the lowest in nine months, cotton price recovered albeit marginally on reports of crop damage due to deficient rainfalls this monsoon season in major producing centres and sudden spurt in its demand from textiles mills.The benchmark Shankar 6 variety of cotton reported an increase of nearly 3 per cent in the last two weeks to trade currently at Rs 10967 a quintal in physical market. In futures, however, cotton prices have declined by Rs 200-300 to trade currently at around Rs 11040 a quintal (~Rs 39300 a candy of 356 kgs each).Traders believe that the extended season rainfalls in October have brought a bounty for cotton crops especially late sown ones across the country. While the cotton output in India is estimated to remain higher this year, the initial crop damage may not be recovered. Still, markets are going to be fully dominated by supplies resulting into a subdued price trend this year."We expect cotton prices touch Rs 10294 a quintal (~Rs 17,500 per bale of 170 ..