Symbol: COTTON| Contract: Apr, 2014 | Category: Fiber
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Cotton's Latest News
Engineering company Greaves Cotton Ltd on Thursday reported a 9.86 per cent rise in net profit at Rs 37.75 crore for the third quarter that ended in December 2013.
The Cabinet has approved a plan that will allow it to borrow an additional $4.3 billion from the World Bank by investing in special bonds, but could not agree on an increase in taxes on cotton exports, a minister said on Thursday.
The government could impose a 10 per cent duty on cotton exports as early as Thursday aiming to boost overseas sales of value-added textiles to take advantage of a weak rupee and reduce the current account deficit, government sources and industry off...
Monsoon confirmed its early retreat with rains below average for a third week running, but key summer crops such as rice, cane, soybean and cotton have already had ample watering and can withstand less now as they are maturing.
The Cabinet Committee on Economic Affairs (CCEA) is likely to consider on September 12 a proposal to impose export duty of 10 per cent on shipment of exportable surplus cotton to ensure availability of the natural fibre in the domestic market.
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