 Online edition of India's National Newspaper Saturday, Jul 10, 2010 ePaper | Mobile/PDA Version |
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Tamil Nadu
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Coimbatore
It will affect small and medium exporters Prices will shoot up next season COIMBATORE: The Southern India Mills' Association has expressed shock over reports that the Government has removed suspension of cotton exports. Association chairman J. Thulasidharan has said in a release that with this move, the industry feared lack of cotton supply for the domestic industry for the next two or three months. The Government suspended cotton exports in April this year after registering 85.22 lakh bales for exports in 2009-2010 season. Of this, 73.79 lakh bales were shipped. Mr. Thulasidharan said if cotton exports were resumed, small and medium exporters of garments, powerloom and handloom sectors who were suffering due to increase in yarn prices would be hit for want of yarn and the larger exporters would also be seriously affected due to increase in the yarn prices. Closing stock The closing stock for cotton season 2008-2009 was 71.5 lakh bales and the stock-to-use ratio was 31.2 per cent. This helped stabilise cotton prices and maintain parity with yarn prices. By allowing exports again, the country would have closing stock of just 35 lakh bales this year and 14 per cent stock-to-use ratio. Countries such as China maintained minimum 30 per cent to 35 per cent stock-to-use ratio. The prices would rule high from the beginning of the next season and the Indian textile industry would loss its competitiveness, he said. Meanwhile, an official source said, the quantity that was registered earlier for exports and was pending revalidation and the applications that had been revalidated could now apply for licence.
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