Industry seeks estimation of cotton exportable surplus

Cotton-SurplusThe Cotton Advisory Board (CAB) meeting in Mumbai on 27th August 27 will most probably indicate the estimates of the surplus of cotton that can be exported for the coming cotton season (i. e., October 2010 to September 2011).

An appeal has been made by the domestic textile industry to the Union Government asking them to determine the amount of surplus cotton that can be exported, and to permit the exports in installments only so that good quality of cotton is there for the industry at affordable rates all through the season.

A joint memorandum signed by office-bearers of fourteen business associations representing the spinning, weaving and garment sectors met was submitted to the Union Government. They wanted the exportable cotton for 2010-11 to be constrained to the exportable surplus only.

Besides these, they also want the cotton farmers to get international price for their produce as their spot price, simultaneously protecting the interests of the farmers and industries. They want the government to come out with its decision fast, because if a favorable decision is not achieved, then the entire textile value chain starting from spinners to garment will have to consider stopping their work as a sign of protest.