Fashion
India set for record cotton procurement as prices stay weak
Although cotton acreage in the country has declined for the 2025–26 season, other factors are likely to push government procurement even higher. According to the Ministry of Agriculture, cotton acreage stood at 109.90 lakh hectares as of last Friday, down from 112.76 lakh hectares a year ago. Sowing has been completed, so this is the final acreage figure. The area was 123.71 lakh hectares in 2023–24 and averaged 129.50 lakh hectares over the past five years.
India is preparing for record cotton procurement for the second year in a row as prices remain below MSP, driving farmers to CCI centers.
Procurement begins October 1 in northern states, followed by central and southern belts later in the month.
CCI faces large carryover stocks of 62–65 lakh bales but will buy without quantity limits if prices stay weak, ensuring MSP support for farmers.
CCI is preparing to launch its annual procurement operations for seed cotton (kapas) under the MSP scheme for the 2025–26 season. The Ministry of Textiles confirmed that procurement will roll out in a phased manner beginning in October.
The first phase will start on October 1 in the northern states of Punjab, Haryana, Rajasthan, and parts of western Uttar Pradesh, where the harvest typically begins earliest. Procurement centres in these states are already being readied. In Punjab, some farmers have even started bringing cotton to mandis, and private trade is underway ahead of the official procurement schedule.
Central states—Maharashtra, Madhya Pradesh, and Gujarat—will follow next, with operations expected to begin on October 15, coinciding with peak arrivals. These three states account for the largest share of India’s cotton acreage, and CCI has announced that an extensive network of procurement centres will be set up to ensure MSP coverage. The final phase will cover the southern states—Telangana, Andhra Pradesh, Karnataka, and Tamil Nadu—where procurement is likely to begin around October 21.
Officials from the Ministry of Textiles emphasised that procurement will be undertaken without any quantitative ceiling—CCI will buy as much kapas as farmers bring, provided market prices remain below MSP. If prices stay higher, the agency will restrict itself to commercial purchases.
Record procurement is expected once again in the upcoming season. New arrivals in northern states have already pushed prices down by around 5–6 per cent over the past two weeks, with arrivals starting mid-September.
Market sources noted that the government has allowed duty-free cotton imports until the end of December 2025. CCI and traders, however, are struggling to offload last season’s cotton due to large carryover stocks. Market estimates suggest that 62–65 lakh bales will remain as closing stock this season, most of which are with CCI. Clearing this inventory is necessary to free up warehouse space for the new crop.
Traders believe there is little chance of price stability given sluggish consumption, especially after the imposition of 50 per cent US tariffs. Lower cotton prices in the open market are expected to force farmers to sell to CCI. The government has fixed the MSP for seed cotton (kapas) at ₹7,710 (Approx. $86.94) per quintal for 2025–26, up 8.27 per cent from last year’s MSP. Meanwhile, seed cotton is currently trading at ₹6,000–7,000 (Approx. $67.66-78.94) per quintal in north Indian markets as CCI’s purchase operations are yet to begin.
Fibre2Fashion News Desk (KUL)
Nominal GDP, or GDP at current prices, is estimated to grow at 8.6 per cent to reach ₹345.47 trillion in FY26 against ₹318.07 trillion in 2024-25.
India’s real GDP is estimated to grow at 7.6 per cent to ₹322.58 trillion (~$3.54 billion) in FY26 compared to the first revised GDP estimate of ₹299.89 trillion for FY25 (7.1 per cent growth).
It released the new series of annual and quarterly national accounts estimates with FY23 base.
Real GVA is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25.
Real gross value added (GVA) is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25 (a 7.3-per cent growth rate).
Nominal GVA is estimated to grow at 8.7 per cent to hit ₹313.61 trillion during FY26, against ₹288.54 lakh crore in 2024-25.
Robust economic performance in FY26 is primarily on account of robust real growth observed in the second quarter (8.4 per cent) and third quarter (7.8 per cent).
The manufacturing sector has been the major driver of resilient performance of the economy the consecutive three fiscals after rebasing, a release from the ministry said.
Both private final consumption expenditure and grossed fixed capital formation exhibited more than 7-per cent growth rate in FY26.
Fibre2Fashion News Desk (DS)
The transition marks the formal handover of executive leadership to President and CEO Keun-Chang (Kevin) Yoon, reinforcing management continuity while preserving the founder’s long-term strategic vision.
Misto Holdings founder Gene Yoon has transitioned to honorary chairman in a planned leadership succession, formally handing executive control to president and CEO Kevin Yoon.
The founder, who expanded the group through the FILA global trademark acquisition and the takeover of Acushnet, will continue guiding long-term strategy as the rebranded Misto focuses on governance and sustainable growth.
Gene Yoon founded the business that would become Misto Holdings in the early 1990s, introducing the FILA brand to the Korean market and later leading a series of transformative transactions. In 2007, the company acquired the global FILA trademark rights through a leveraged buyout, followed by the 2011 acquisition of Acushnet Company, owner of the Titleist and FootJoy brands. The transaction was among the largest cross-border deals in Korea’s consumer sector at the time and significantly expanded the group’s global footprint.
Under his leadership, the company evolved into a multi-brand global portfolio spanning sportswear, golf equipment and apparel, generating approximately USD 3.08 billion in annual revenue.
As Honorary Chairman, Gene Yoon will remain closely engaged with the company, providing guidance on long-term strategy and global portfolio development while supporting management from a broader strategic perspective.
The leadership transition marks a new chapter under President and CEO Kevin Yoon, who has spent nearly two decades in senior roles across the group’s global operations, building deep operational and strategic expertise.
The company’s 2025 rebranding to “Misto” underscores its evolution into a global brand house focused on disciplined capital allocation, enhanced shareholder returns and sustainable long-term growth.
“Building on the founder’s legacy, our priority is to expand our global portfolio, strengthen governance and deliver sustainable value creation,” said Kevin Yoon, President and CEO of Misto Holdings.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
This Laptop Cooling Pad Knocked 20 Degrees Off My Laptop’s CPU Temperature
Transfer rumors, news: Man City, Man United in for Anderson
EU urges ‘de-escalation’ between Pakistan and Afghanistan as tensions rise
-
Tech1 week agoA $10K Bounty Awaits Anyone Who Can Hack Ring Cameras to Stop Sharing Data With Amazon
-
Business1 week agoUS Top Court Blocks Trump’s Tariff Orders: Does It Mean Zero Duties For Indian Goods?
-
Fashion1 week agoICE cotton ticks higher on crude oil rally
-
Tech1 week agoDonald Trump Jr.’s Private DC Club Has Mysterious Ties to an Ex-Cop With a Controversial Past
-
Entertainment1 week agoThe White Lotus” creator Mike White reflects on his time on “Survivor
-
Politics7 days agoPakistan carries out precision strikes on seven militant hideouts in Afghanistan
-
Business7 days agoEye-popping rise in one year: Betting on just gold and silver for long-term wealth creation? Think again! – The Times of India
-
Sports1 week agoBrett Favre blasts NFL for no longer appealing to ‘true’ fans: ‘There’s been a slight shift’