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Coimbatore

Meet on cotton to discuss price volatility

Covai Post Network

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Price volatility during a particular period of the year and financial constraints to purchase cotton, would be among other issued to be discussed at the two-day All India Bi-yearly Conference on cotton beginning on August 19.

With the main theme ‘Indian Cotton Scenario in 2016-17’ along with Global Cotton outlook as a back drop, the conference would have the participation of 400 delegates from India and abroad, the organising chairman of the conference, P Nataraj told reporters here today.

The price fluctuation of cotton during April to June, affecting adversely entire textile value chain, from ginners to traders to spinners to garmenters to end users and need for funds with reasonable interest, would be discussed, he said.

Claiming that lack of exact statistics on consumption and availability of cotton, particularly in the initial stage of season (October-September) was a major reason for the fluctuation, J. Thulasidharan, president of Indian Cotton Federation, said there were also need of funds, to the tune of Rs.50,000 crore annually to ginners and spinners to buy and stock at the beginning of the season, which was done by multi-national companies, leading to speculation.
“The situation will be easy for the stakeholders if the banks come forward to provide funds at a reasonable interest rate of seven per cent,” he said.

The conference would interact on the real situation of cotton acreage, demand-supply equations, price situation, sustainable management, Thulasidharan said. Cotton being a natural fiber, farmers had to overcome unforeseen situation of climate change, cost escalation, quality seeds, technology upgradation, field improvements, insurance to deliver quality seed cotton, he said adding that the recent development in the regulation and licensing mechanisms in cotton seed production by Monsanto also need an opinion poll.

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