The South India Hosiery Manufacturers Association (SIHMA) based in Tiruppur has requested the Cotton Corporation of India (CCI) to stop fluctuation in cotton prices as this affects downstream textile units.
SIHMA which is based in Tiruppur and represents domestic apparel manufacturers has urged the Ministry of Textiles to take necessary measures to keep cotton prices stable.
“CCI which has opened godowns in Tamil Nadu to sell cotton, should keep prices stable and should not change cotton prices based on global trends,” SIHMA President, AC Eswaran said in a press release.
“This is to ensure that downstream textile units such as the spinners and weavers are not affected by fluctuating cotton prices,” he added.
“The garment manufacturers can benefit from competitive cotton prices only if the entire supply chain gets cotton at stable and low prices,” Eswaran stated.
He further added that CCI has decided to sell cotton only to end consumers directly, and not to traders.
“The government should monitor the purchase of cotton by traders and cotton stocks with traders should be permitted for exports only after meeting the domestic requirements,” he demanded.
