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Higher cotton prices can lead to increased sowing next year: CAI's Atul Ganatra

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Atul Ganatra, President of Cotton Association of India (CAI), on Tuesday said that higher cotton prices will lead to more sowing in the next year. He also said that Indian cotton is cheaper compared to the global prices and yarn is sold at international rate and this augurs well for the Indian spinning mills.

Atul Ganatra, President of Cotton Association of India (CAI), on Tuesday said that higher cotton prices will lead to more sowing in the next year.
“It is a good time for farmers because today raw cotton prices have gone up to Rs 6,500-6,600 per quintal, which is 15% higher rate than MSP they are getting as on today. The news that we are getting from Rajasthan, Gujarat, and other states is that farmers next year in sowing season can go for cotton in a big way. The Indian cotton sowing can be increased from 8% to 12%,” he said in an interview to CNBC-TV18.
He also said that Indian cotton is cheaper compared to the global prices and yarn is sold at international rate and this augurs well for the Indian spinning mills.
He expects the spinning mills to continue to do good for the next 1-2 years.
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“Spinning mills at present are doing good. Indian cotton is very cheap compared to world cotton and yarn is sold on ICE market. So, it is a win-win situation for Indian spinning mills."
"They are very comfortable in this type of situation where cotton is available at cheap rate and yarn is getting sold at international market,” he said.
However, the textile mills have been protesting against the higher yarn prices. “Yesterday there was a one-day strike by the Tirpur garment factories to protest against the high yarn prices. In last 6 months, yarn prices have increased around 40-45% compared to cotton prices which increased 17-20%,” he said.
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