Claims of holding goods by farmers, traders in the hope of getting higher prices of Rs

Mumbai: Like last year, in the current year as well, as big farmers and small traders are hoarding rupees in the hope of skyrocketing rupee prices, rupee-dependent industries and rupee users are currently operating at below capacity levels. The cotton year starts from October and ends in September.

There is also a demand to remove the import duty on rupees to increase the supply of rupees in the country.

An official of the Southern India Mills Association said that currently the rupee income in the market is 35 to 40 percent less than normal. He said that due to import duty on Rs, the requirement of Rs cannot be met even through imports.

In the period from October to December of the current year, market circles said that against the market income of 80 lakh bales, only 50 lakh bales were received.

A total import duty of eleven percent is currently levied at Rs. Indian rupee prices are currently being quoted eight to ten percent higher than global prices. On the one hand, the high price of rupee, while on the other hand, the importers buying cotton textiles, garments and yarn from India are desiring goods at low prices.

Export orders are also low as buyers are now stocked up, he claimed. The fear of global recession has also affected the demand for garments in India.

It is to be mentioned here that in the current year the price of rupee has crossed one lakh rupees per khandi.