The price of cotton is decreasing in the mandis. In such a situation, it was expected that the price of clothes would come down, but this does not seem to be happening. If we talk about the data, then the inflation of clothes has been higher in June than in May, while it was expected that due to the fall in the price of cotton, the price of clothes will also come down. In May, the retail inflation of clothing was 8.53 percent, which has been recorded at 9.19 percent in June. Due to low production of cotton, there is a shortage of supply and the same shortage is coming to the fore in the form of inflation of clothes. Cotton production in the country is estimated to be 315 lakh bales this year, which is 38 lakh bales less than last year. On the other hand, if we look at the consumption, the industry has estimated only 315 lakh bales. It is clear from this that this time production and consumption are going to be same.
On top of this, out of the total cotton production, 38 lakh bales have also been exported. That is, the lesser the production, the more cotton has gone out of the country. This is the reason why there is a shortage of cotton in the country. The textile industry is now expecting a new crop, but the new crop will also arrive in the mandis only after September and by then the remaining stock of cotton will also shrink. However, this time there has been an increase in the area under cotton, which is expected to bring some relief.
causing more rain
In October last year, when the new cotton crop started arriving in the mandis. Till then the old stock of cotton was around 72 lakh bales and this year the old stock is expected to come down to 47 lakh bales. Although this year cotton cultivation is going ahead from last year. Till July 29, cotton crop has been registered in more than 117 lakh hectares across the country as compared to 111 lakh hectares during the same period last year. The increased area under cotton is raising hopes of an increase in the yield this year, but it will be possible only if the weather favors and it is feared that the crop has been affected due to bad weather in many places.
Major cotton producing states like Gujarat, Maharashtra, Telangana and Rajasthan have received much higher than normal rainfall this year. It has rained twice in Telangana. If the weather conditions do not improve in time, the cotton crop may suffer and cotton imports will have to be increased to meet the domestic requirement.
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