Ministry of Textiles has said that the domestic cotton prices have been reduced from its peak level of Rs. 1,03,000 in the month of May 2022 to Rs. 86,400 per candy.
The Minister of State for Textiles Darshana Jardosh shared this information in a written reply in the Lok Sabha.
She also added that the yarn prices, which were ruling in the range of Rs. 400 to Rs. 440 per kg for 40s Cone combed in the month of April and May 2022, have also been reduced by Rs. 35 to 40 per kg in the month of July 2022.
Cotton and cotton yarn prices are dependent on market forces of demand and supply and higher international prices, she added.
Ministry of Textiles is constantly engaged with various stakeholders across the entire cotton value chain in respect of the prices of cotton and cotton yarn to harmonise their interest.
The Ministry of Finance has exempted the customs duty on raw cotton imports upto 31 October 2022.
Source : https://in.apparelresources.com/