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Indian cotton sector losing due to tariff issues: CITI
India’s cotton yarn and fabric exports are struggling because of the duty disadvantage faced by the Indian exporters in major markets, pointed out the Confederation of Indian Textile Industry (CITI).
A COTTON OF CRISIS
All is not well on the cotton front! Fall in production and acreage, and wild fluctuations in the prices beginning late last year have dampened the spirit of the industry. On the farm front, ravages of bollworm have added to the woes of the suppliers.
Price volatility, a hurdle to cotton industry growth
The cotton price has been fluctuating in tandem with international price unlike earlier cotton seasons. The global cotton price ruled high during the last cotton season which continued till the beginning of the new season.
MMF consumption to remain stable
In FY18, the domestic MMF industry in volume terms stood at 2,506 million kg. Domestic MMF demand witnessed an uptick of about 3.6% in FY18 on account of release of pent-up demand post the demonetisation and GST implementation.
Yarn production increased in Q2/18
Global yarn production increased by +5per cent between Q1/18 and Q2/18. Higher output where observed in Egypt (+1.4per cent), the U.S.A. (+3.2 per cent), South Africa (+3.3 per cent), and globally in Asia where the overall +5.7per cent increase was led by Chinese Taipei and Korea, Rep. (respective growth rates of +8.1per cent and +8.8).
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