INDIA COTTON SHORTAGE LEAVES SPINNERS SCRAMBLING FOR IMPORTS
July 1st, 2016
A SEVERE cotton shortage in India has led local spinners to scramble for imports and prompted a government decision to sell its stock only to small-scale spinning mills within the country.
“The Cotton Corporation of India (CCI) will sell its existing stock, purchased under MSP (Minimum Support Price from farmers), to spinning mills in the MSME (Micro Small and Medium Enterprises) category only,” said a ministry of textiles note, released July 16.
The cotton industry has welcomed the move but fears that there is an insufficient number of stock left to make ...
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