The South India Hosiery Manufacturers Association (SIHMA) has made an appeal to the Union Government seeking a ban on export of cotton and also requested to give directions for stopping online cotton sales by Cotton Corporation of India, for stabilising the yarn prices.
In the representations to Union Agriculture and Commerce Ministries, the SIHMA president A.C. Eswaran said banning the export of cotton at this moment would help ensure that whatever stocks available would get utilised only for domestic consumption till the next cotton season starts in October.
“The flow into the domestic market is essential considering that the cotton prices and subsequently the yarn prices have surged in the recent times,” Mr. Eswaran added.
The hosiery manufacturers were of the opinion that instead of selling cotton online, the Cotton Corporation of India should allow the domestic consumers to directly buy the consignments.
“This step will make sure that textile mills can get adequate quantity of cotton for production of yarn, which in turn steady the yarn prices,” Mr. Eswaran said.