Duty waiver will ease supplies, may not help cotton prices: Industry

Group representing farmers protests government dropping customs duty on imports, calls it disastrous

The decision by the government to waive Customs duty on cotton imports until September 30 might not have a long-term impact on prices. International markets have firmed up further after the waiver, while global logistical problems will keep prices supported.

Trade and industry players expected cotton prices to soften around Rs 5,000-6,000 per candy (1 candy is 356 kilos, or kg), following the easing of imports.

India is expected to import around 2-2.5 million bales (1 bale is 170 kg) of cotton in the current season (October 2021 through September).

Of this, trade sources said nearly 400,000-600,000 tonnes have been imported until March