Cotton mills in a wait and watch mode: Atul Ganatra of CAI

The COVID-19 pandemic has disrupted the cotton industry “Due to lockdowns in various states, cotton arrival may slow down and it has happened last year also,” said Atul Ganatra, President at Cotton Association of India in an interview with CNBC-TV18.

“Due to increase in COVID-19 cases, mills are now in a mode of wait and watch. India has a big unsold stock of around 160 lakh bales with farmers, ginners, exporters, traders, MNCs and government agencies. So in India, we have a very comfortable situation as far as stock is concerned,” he said.

“In yarn prices, we have seen the correction, it has reduced to Rs 15-20 per kilogram and this month no increase has been seen,” he added.