Though the cotton prices were stable till the middle of February 2013, it started increasing abruptly from Rs.33, 800/- per candy to Rs.39, 600/- per candy as CCI and cotton traders were not releasing the cotton to the domestic mills.
Consequently, industry Association including SIMA, Confederation of Indian Textile Industry (CITI) pleaded the government to offload the cotton purchased by CCI under MSP operations to domestic mills to bring stability in prices. Now, Ministry of Textiles has directed CCI to offload 2.5 lakhs bales of cotton to domestic mills which might bring stability in cotton prices.
Mr.S.Dinakaran, Chairman, The Southern India Mills’ Association (SIMA) thanked the Hon’ble Textile Minister and Secretary (Textiles) for taking proactive steps and directing CCI to release 2.5 lakhs bales of cotton to domestic mills.
SIMA Chairman also sent fax communications to the Hon’ble Prime Minister, Hon’ble Finance Minister, Hon’ble Textile Minister, Hon’ble Minister of State for PMO Office, Secretary (Textiles) and Joint Secretary, Ministry of Textiles individually for intervening in the matter and also thanking the decision to direct CCI to release the cotton to domestic mills.
