Only immediate rains can save cotton crop: Arvind Mills

The concern of drought in Maharashtra and in a few neighbouring states is likely to impact the cotton crop. Naishad Parikh, Head-Policy Initiatives and Representative of Arvind Mills feels that some immediate rains can definitely correct the cotton crop situation to a certain extent. "The crops in Maharashtra, Madhya Pradesh, Rajasthan and to some extent Gujarat wherever irrigation is not possible - the crop may get affected if there are no immediate rains."

Excerpts from CNBC-TV18’s exclusive interview with Arvind Mills:

Q: How much of the crop is at stake and is it irretrievably lost or do you think late rains can still save the situation?

A: Not late rains, but I would say some immediate rains can definitely correct the situation to a certain extent. I would say that the crops in Maharashtra, Madhya Pradesh, Rajasthan and to some extent Gujarat wherever irrigation is not possible - the crop may get affected if there are no immediate rains.

Q: If I ask you to make a guess how what is the cotton production expected this season?

A: It was planned about 2,85,000 bails but one does not know to what extent the damage will happen. It’s premature to predict at this point of time but one will have to see what will happens of the states of Punjab, Haryana and to some extent south as far as the rain is concerned. But these states are definitely under pressure.

Q: At the moment are you seeing rise in prices. Do you expect that this year for sure cotton prices will be higher?

A: The rise in prices has happened after the duty reduction to zero, and with cotton scenario not much comfortable, these kinds of aberrations may happen.