Cotton Advisory Board to meet on Nov 15

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MUMBAI, NOV. 7:

The Cotton Advisory Board (CAB) will meet here on November 15 to review the status of the cotton crop for the current season that began on October 1.

“We will be meeting on November 15 to take stock of the cotton crop situation. We have received reports on both crop loss and higher output from various places,’’ said the Union Textiles Commissioner, Mr A.B. Joshi.

He was responding to a query on the crop loss that has been reported from Andhra Pradesh. Erratic weather and disruption in power supply due to the Telangana agitation have taken a toll on the crop. As a result, the yield is likely to be lower this year.

“While there are reports of crop loss from Andhra Pradesh and Gujarat, we have got reports of record output from Punjab,’’ Mr Joshi said here on the sidelines of the World Cotton Research Conference.

The Cotton Advisory Board, comprising representatives from the industry, trade, exporters, growers and government, had at its meeting in August projected a record output of 355 lakh bales (of 170 kg each) against 325 lakh bales last year.

Meanwhile, cotton textile exports are likely to increase 12-15 per cent this year, according to Mr Siddhartha Rajagopal, Executive Director of the Cotton Textiles Export Promotion Council.

“Last year, cotton prices were high touching Rs 60,000 a candy (356 kg). This year, they are around Rs 38,000. The industry will try and adjust itself to the evolving scenario,’’ he said.

However, the hope for improving exports comes from China’s raw material problems.

“China will produce lesser cotton this year and will have to import,’’ he said. “Cotton garment, apparels and even knitwear will improve,’’ Mr Rajagopal said.

Source: http://www.thehindubusinessline.com/industry-and-economy/agri-biz/article2606363.ece

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