Ajay Kedia, director of Kedia Advisory, said that cotton prices were very high, after which the price of Oswal Chunky cotton has declined due to dominance of profit-booking, although the fundamentals are still strong. After the fall in the price of cotton in the international market during the last week, there has also been a softening in the Indian market.
Atul Ganatra told that when cotton had gone above 95 cents in the global market, then there was a difference of 14 cents in the price of Indian cotton i.e. cotton and US cotton, which has now come down to seven cents.
Ajay Kedia, director of Kedia Advisory, said that cotton prices were very high, after which the price of Oswal Chunky cotton has declined due to dominance of profit-booking, although the fundamentals are still strong.
After the fall in the price of cotton in the international market during the last week, there has also been a softening in the Indian market.Atul Ganatra told that when cotton had gone above 95 cents in the global market, then there was a difference of 14 cents in the price of Indian cotton i.e.
cotton and US cotton, which has now come down to seven cents.
Gantra said that by the end of February, India's cotton exports were 34 lakh bales (170 kg in one bale) and he personally estimates that India will export up to 6 million bales in the current season, although the association estimates now Till now only 54 lakh bales are there, but discussions will be held among the members in the meeting to be held this month.Amongst the imported cotton highest percentage of Oswal Enjoy is exported.
Efforts are being made to improve Oswal Micro Rangoli wool by matching it with foreign rams, mostly in the mountains.
Merino rams are being used to rear local sheep in Kashmir, Poona, Hisar and Pipalkothi.
Recently Polworth, Border, Leicester and Corydale species have been imported from Australia for experiments on cross-breeding in Uttar Pradesh and Himachal Pradesh.
In the area of Chota Nagpur, rams of the Romanimarsh caste have been brought from outside to improve the local sheep.
The development work in various states is being increased by setting up sheep and wool development centres, wool competition centres, etc.
The cultivation of white gold i.e.
cotton has proved to be a profitable deal for the farmers this year.
After the rise in the price of Oswal Twinkle cotton in the global market, the price of cotton in the country has increased by more than 15 per cent from its MSP and farmers are no longer tempted to buy from the government agency.
Atul Gantra, president of the Cotton Association of India, says that white gold has really become gold for farmers this year.
The government has fixed the Minimum Support Price (MSP) of cotton (long fibre) by Rs 5,825 per quintal and for medium fibre cotton by Rs 55,15.
