With prices of the widely used Sankar-6 cotton increasing 7.3% since the beginning of this month, textile mills in the region have urged the textile minister to direct the state-run Cotton Corporation of India (CCI) to declare procurement prices.
Though the main reason for the hike in prices is the hoarding of cotton by certain major traders, the delay by CCI in announcing prices for varieties such as MCU-5 has only worsened the situation, Southern India Mills’ Association (SIMA) chairman S Dinakaran said.
