A cotton crisis is upon us as climate change takes a toll on crops
Climate adaptability needs to be improved without compromising on yield potential
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The weather-induced sharp dip in cotton production and the resultant exorbitant spike in its prices in almost all major cotton-producing countries have plunged the whole textile sector into a crisis the world over. In most countries, the prices of cotton have surged by 60 to 70 per cent in the past one year and are currently ruling at their highest level in over a decade. In India, the prices have more than doubled since last year, forcing many units in the textile industry to curtail operations or cease production, despite the waiver of import duty and other concessions to facilitate higher cotton imports. High production costs and the shrinkage of garments demand owing largely to the economic slowdown in many countries have squeezed the margins of all stakeholders in the textile industry —from yarn producers to apparel makers and exporters. Many textile mills have been forced to mix cotton yarn with other materials like rayon or polyester to reduce the dependence on the natural fibre and cut costs.
Topics : Climate Change Global cotton production