Indian Texpreneurs’ Federation (ITF) has appealed to the Textile Ministry to convene a stakeholders’ meeting to study the ground realities of cotton trade and find ways to protect the industry.
Drawing the attention of the ministry to the spiralling price of cotton, particularly over the past two months, Prabhu Dhamodharan, Secretary, ITF, said, “There is no evident reason for the price rise. The per candy rate of medium staple cotton has shot up from ₹35,000 eight weeks ago to over ₹41,000 now.
“The situation is alarming and neither the farmer nor the consumer would benefit from this hike,” he said.