The textile industry has expressed concern over the steep hike in cotton prices in the country and called for suspension of exports to ensure availability and check prices. The Confederation of Indian Textile Industry (CITI) has complained that ‘speculation’ by a few large international cotton traders was leading to a substantial hike in cotton prices in the Indian market.

Southern India Mill Association has appealed to the Centre to immediately ban cotton export and stop registering any cotton for export considering the ''grave'' situation being faced by the textile industry.

In spite of a significant increase in arrival of cotton in the market during the last couple of weeks, cotton prices for standard varieties has already crossed Rs 25,000 a candy on spot basis and the trend of price increase still continues,  said Mr Shishir Jaipuria, Chairman CITI. He called for an immediate suspension of cotton exports up to March 2010 to ensure that adequate quantity of cotton was available to the textile industry at competitive prices.