The Cotton Association of India (CAI) has anticipated that the domestic cotton demand for India for the 2022–23 season up to September will be roughly 18 lakh bales (170 kg each) lower at 300 lakh bales or nearly 6% less than last year’s 318 lakh bales. The fall in domestic consumption was ascribed to mill…
In anticipation of further drops in cotton prices and weak yarn demand, some spinning factories, notably in south India, are observing prolonged holidays for Diwali. Some millers, led by the Tamilnadu Spinners Association (TASMA), have urged Finance Minister Nirmala Sitharaman to prolong the window for duty-free import of cotton until March 31 because the demand…
The Cotton Association of India (CAI) has advocated premiums for cotton ginners to entice them to deposit their stocks at MCX godowns and enable legitimate dealers to engage on the exchange platform in an effort to increase liquidity for the MCX cotton contracts. The MCX new product committee accepted the CAI proposal at its meeting…
The production for the October-September cotton year 2022–23 is anticipated to increase by about 15%, provided the weather remains favourable until October, providing relief to the entire cotton value chain, at a time when the central government is concerned about the closure of 50% of the country’s spinning mills due to cotton shortages. India’s cotton…
Prices of the fibre in the domestic market have dropped below Rs 90,000 per candy (356 kg per candy) from over Rs 1 lakh per candy in a week as early sown cotton sales have started in mandis in cotton-growing states like Gujarat. Due to increased crop supply and poor demand from the textile industry,…
The upcoming festival season and export opportunities emerging from the crisis-ridden textile sectors in neighboring countries may help the textile industry in India battle the declining global demand. “Textile industries of Bangladesh and Sri Lanka are in complete boredom both on account of political instability and their complete reliance on exports for survival. This is a…
Cotton imports by a few spinning mills in Tamil Nadu are likely to result in trade discussions with the buyers yet to get delivery of consignments over the last few months. Some of the mills which had to receive these imported cargoes in March and April have not got any response from the sellers over…
With demand reducing amid a slowdown in the global economy, cotton prices in the `international market are set to come under pressure, experts have said. “There is no demand for yarn from the spinning mills. They are losing about ₹30-40 a kg in yarn sales. But stocks are limited with them. This is stopping the…
Cotton prices in the international market have increased to almost a 11-year high on the Intercontinental Exchange (ICE), but shareholders in the industry say the raise in natural fibre prices ignores fundamentals. According to the U.S. Department of Agriculture (USDA), global production is likely to be higher from earlier impressions this season to June, while…
Spinning mills, mostly in South India, have started to sign deals to import cotton following the Centre’s decision to allow the natural fibre’s shipments into the country duty free until September 30. Mills in Tamil Nadu have started placing orders for imported cotton. As a plan, mills were placed orders for 3040 days of production…
