India is a cotton surplus country wherein production is more than consumption. Taking into consideration the estimated opening stock of cotton year (commenced from 1st October 2021), there is no shortage of cotton and cotton yarn in the country.
The year-on-year price of cotton since 2017, year wise is as under:-
|
Crop Year |
Average Domestic Rates |
|
Rs./ candy |
|
|
2017-18 |
42,500 |
|
2018-19 |
44,100 |
|
2019-20 |
37,700 |
|
2020-21 |
46,900 |
|
2021-22 |
70,200 |
Ministry is constantly engaged with various stakeholders across the entire cotton value chain in respect of the prices of cotton and cotton yarn to harmonize their interest. Prices are affected by market forces of demand and supply. In addition, cotton being an internationally traded commodity, its price is also affected by the price in the international market. Export of textiles and apparel during April-January 2021-22 is USD 34.459 billion, posting a growth of 49% over the same period in 2020-21 (USD 23.137 billion).
This information was given by the Minister of state for Textiles Smt. Darshana Jardosh in a written reply in the Rajya Sabha today.
***
AM/TFK
