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Net profit up

The Cotton Corporation of India’s net profit for 2007-2008 was Rs. 22.55 crore, about 45 per cent more than the previous year.

A release from the corporation said the country saw an overall improvement in cotton sector, both in terms of production and productivity. The productivity touched 560 kg per hectare in 2007-2008 as against 521 kg a hectare during the previous year. Cotton production was 315 lakh bales as against 280 lakh bales. The use of BT had gone up, covering 66 per cent of the total area.

Appeal

The India Spinning Mill Owners’ Association has appealed to the State and Central Governments to control the cotton prices.

Association president A.R. Chinnaiyan has said in a release in Coimbatore that about 25 per cent of the textile mills in the State are struggling to continue operations because of the steep hike in cotton prices. The textile sector – from spinning to garmenting – is suffering due to slowdown in market and hike in raw material prices. Mr. Chinnaiyan sought a ban of cotton exports.

Exemption from power cuts sought

The Tirupur Exporters’ Association has appealed to the State Government to exempt the garment exporting units in Tirupur from power cuts.

Association president A. Sakthivel has said in a release that the exporting units were reeling under high production costs. With unannounced power cuts, the units were unable to meet the delivery schedules.

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