Economy

CYAB projects 17% jump in cotton yarn exports surplus

PTI New Delhi | Updated on March 12, 2018 Published on March 18, 2011

Cotton yarn produced and stored at Precot Mills in Walayar. (file photo): K. Ananthan   -  Business Line

The Cotton Yarn Advisory Board (CYAB) has projected a 17 per cent jump in the cotton yarn exports surplus to 845 million kg for the next fiscal, against this ficsal.

In December last year, the government capped the yarn shipments to 720 million kg for 2010-11 to help ease rising domestic cotton prices.

In a recent meeting of the Cotton Yarn Advisory Board (CYAB), the board estimated a higher yarn production of 3,931 million kg in 2011—12 against 3,510 million kg for this fiscal, an official said.

The cotton production was estimated to be 312 lakh bales for the current cotton season (October to September), as per the Cotton Advisory Board.

However, the closing stock of the yarn is estimated to be lower at 85 million kg for the next fiscal than 178 million kg in 2010-11, he added.

The Board has been constituted to monitor domestic and international prices of cotton yarn.

In line with cotton, yarn prices have gone up by about 15 per cent in the last two months, depressing domestic demand.

Cotton prices have increased to over Rs 60,000 a candy (of 356 kg) from Rs 42,000 a candy in the last two months.

The cotton yarn is the main raw material for the weavers and a recent rise in the price of cotton has been a matter of concern for the weavers all over the country.

The government has already limited raw cotton exports to 55 lakh bales (170 kg each) for the current crop year.

Published on March 18, 2011
null
This article is closed for comments.
Please Email the Editor