New Delhi, Aug 5 (KNN) In a bid to address the demands of cotton in the region, the Union Ministry will be setting up a trans-shipment facility at the Tuticorin port that could be used to store imported cotton. The facility is expected to assist the Micro, Small and Medium Enterprises of the region with access to imported cotton.

The facility can hold up to 250 containers of cotton at once and the government has announced exemption of charges for using the facility for the initial 30 days. After 30 days, the next 60 days, storage facility is being provided on a discounted price.

In a press interview, Senthilkumar, Chairman of the Southern India Mills Association (SIMA) said that the facility would help the MSMEs in the region to have daily and direct access to quality imported cotton.

He also informed that the locally sourced cotton didn’t meet the quality standards, with a trans-shipment facility in place, the sector can easily avail good cotton from other states and other countries as well.

At present there exist instability in cotton prices, once the facility starts functioning, it is expected to stabilize the cotton prices as imported cotton could be availed on demand, SIMA added. (KNN/ DA)