Government reviews rising cotton prices in the country

New Delhi, July 16 (KNN) Centre has reviewed the recent spurt in c‎otton prices which has resulted in higher input costs for the spinning sector in India.

As per the official release, 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.

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 said.

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.

The Textiles Commissioner assured the government about the cotton stock available in the country and said that opening balance is expected to be 43 lakh bales on 30th September, 2016.

However, she was asked to keep monitoring the situation closely. (With PIB inputs)