Indian textile industry feels the pain of rising cotton prices
Foreign news on May 30, the rapidly rising cotton prices have become the focus of the Indian textile industry. The industry is worried that companies are not only facing soaring raw material prices, but also facing supply shortages.
The South India Textile Association said in a statement that cotton prices in recent months have dropped from 75,000 rupees per candy in January 2022. Rising to Rs 1.15 lakh. At the same time, yarn prices have also increased from Rs 328 to Rs 399, resulting in textile mills losing Rs 50-60 per kg.
The main reason for the increase in cotton prices is the low cotton output this year.
According to reports from the Tamil Nadu Textile Association and elsewhere, the average price of cotton in October 2020 was 35,000 rupees per kandi, and by October 2021 At the beginning of the cotton year, cotton prices rose to 55,000 rupees. On December 31, 2021, the price peaked at Rs 80,000 and reached Rs 1.15 lakh in May 2022.
Harshit Rana, a local textile factory owner from Haryana, said: Cotton farmers are getting higher and higher prices, but we hope that the increase in input costs will benefit the entire value chain. Because textile mills cannot bear the pressure caused by rising prices. Although the government is doing its best to support the industry by removing the 11% import duty, if further measures are not taken, the end consumers may soon be hurt too.
Akanksha, a resident of New Delhi, said: I bought cotton cloth at a price of 100 rupees per meter in 2021, but by 2022 the price rose to 200 rupees per meter.
Shop owner Shobha Singh said that the cost of cotton clothing has increased by 15% from October 2021 to April 2022, and there are many factors causing the price increase.
“Due to the war in Europe, oil prices increased. So from raw materials, fibers, yarns to fabrics, all prices increased. Secondly, Indian cotton exports increased. India itself Cotton demand is also increasing. Affected by the new crown epidemic, a large number of laborers have not returned from their hometowns. Therefore, cotton prices are higher due to reduced production and relatively high demand.”
AAA Functional Fabric Network SVSGHRUTO
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