India is still Suffering Shortage?
India’s cotton crop, which was growing every year has reduced for the last two years and is still facing challenges of area, yield and pests in fact, from LAKH BALES, it has come down to 336 LAKH. The surplus cotton from India has dwindled, leading to competition between exports and domestic usage and thus the industry is forced to import at the end of season. India’s value added industry especially spinning has been suffering despite a strong cotton crop – highest % slippages to NPAs in 2015. A very rampant problem affecting the country is that the domestic cotton prices are many times higher than the international prices.
According to Sanjay Jain, President, NITRA, the country doesn’t have sufficient surplus cotton, however, exports are moving strong leading to forced imports at high price.
“Our competitors (Pakistan, Bangladesh, Vietnam and China are buying 20 to 30% of our crop, forcing industry to import. Also, till today there is no mechanism for measuring crop or forecasting crop which leads to miscommunication and rumour in the market,” said he.
Most of the industry experts feel that there is a need for clear cotton fibre policy and most of the times the cotton is overpriced for the users in country even if the crop is bumper. “Some urgent steps which needs to be undertaken to ensure at least 1.5 month cotton usage stock i.e. 40 lakh bales should stay within the country,” said Sanjay.
BACKGROUND
Diese Geschichte stammt aus der October 2016-Ausgabe von Perfect Sourcing.
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