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TAG to develop Yarn Index System

The Textile Advisory Group (TAG) plans to develop a Yarn Index System to control the high volatility in Indian cotton yarn prices that have disrupted the entire textile value chain in recent months. Comprising senior officials from the Union ministries of textiles, agriculture and farmers’ welfare, commerce, as well as senior officials from the Cotton Corporation of India, R&D experts and stakeholders, TAG held its first meeting in May.

The Yarn Index System will improve predictability and reduce fluctuations in prices, opined TAG at the meeting.  It was also emphasized on the availability of data for improving policy formulation process. The TAG also advocated penal action to be taken on units not onboarding the textile commissioner’s portal. It also urged for faster TAG approval of new Bt cotton seed varieties to improve cotton yield. The meeting also suggested for a policy to discourage poor quality cotton and to provide premium for cleaner cotton.

The meeting zeroed in on the Cotton Association of India (CAI) to formulate a policy to encourage ginners to adopt better ginning practices. Further, it urged for steps to be taken for state-of-the-art testing to ensure quality and traceability of cotton products.

The meeting also discussed the long-pending demand from downstream industry to ban or discourage future trading in cotton. It also proposed, TAG will urge for reduction in speculative activity in MCX through industry and farmer representation in the product group and transparent specific delivery contracts.


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