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New Delhi, Jun 26 : well as industry should reap the benefit, the minister added.
Cotton dynamics says that a reasonable ending stock of around 60 lakh bales is necessary to ensure that cotton prices remain competitive. The ending stock this year has declined to 43 lakh bales, basically because exports have increased to 85 lakh bales from 58 lakh bales last year.
The figure of 85 lakh bales is the export estimated by the Cotton Advisory board, but cotton traders expect exports to touch 95 lakh bales. Some even think that actual exports may exceed 100 lakh bales.
A reasonable stock-to-use ratio is another important factor influencing cotton prices.
As per the International Cotton Advisory Committee, stock-to-use ration in most countries is over 40% as against 18%.
The advantages of processing cotton within the country in the various stages of the textile value chain, in terms of increasing industrial production and generating employment are obvious.
Restricting large exports is the only way of ensuring that cotton remains available domestically. To discuss the ongoing cotton crisis and possible solutions, CITI had organised a meeting in Mumbai. Various industry associations and export promotion councils attended it....
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