Mr.Dinakaran has stated that the cotton price started soaring up in the last few days, while the yarn prices started dwindling down in certain markets particularly for yarn of fine and superfine varieties. He has said that cotton prices have gone up by over Rs.1000/- per candy of 355 kgs in the last two days as the cotton exporters are covering more volume of cotton hoping that they might get export incentive for cotton export.
He said that there is a rumor that the cotton prices would go below the MSP and the farmers might get affected and the CCI must be forced to venture into MSP operations, which is a misguiding and false forecast. He has appealed to the Government to take a fair view considering over 92 million jobs and over Rs.2 trillion investments made in this industry.
The Southern India Mills' Association (SIMA)
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