Manisha Gupta | January 11, 2021
Arun Sekhsaria, Maging Director of DD Cotton, on Monday discussed about Indian exports and prices, going forward.
“As far as cotton is concerned and as far as textile is concerned, we have never had any incentives and we are happy with that. That means no change in policy,” he said in an interview with CNBC-TV18.
“As far as Indian cotton prices are concerned, all the spinning mills are the happiest lot in the value chain because all the doors are leading to the banks and there are huge margins and huge profits. Therefore, they have wiped off all the losses of COVID-19 and they have huge surpluses,” he said. “Last year same time the prices were in the range of about Rs 43,000-43,500 and it started coming down. We are now at the level which is very scary,” he said.
In terms of crop production, he said, “I don’t think we are sitting on a number which is less than last year.” “In spite of Indian cotton being the cheapest, it is still not finding buyers. We have large unsold cotton available and we have to find buyers for that,” he said.
Watch the video, for more… https://www.cnbctv18.com/market/commodities/budget-2021-no-incentives-from-government-and-happy-with-that-says-dd-cotton-7965301.htm (Source: https://www.cnbctv18.com)