Lack of raw cotton supply, Indore cotton mills closed
① Due to the lack of raw cotton supply in the spot market, about 70% of cotton spinning mills in Indore, India, have been closed as farmers clear most of their inventories early in the harvest season. Traders and cotton mills said falling spot supplies and picking up demand from textile mills have pushed raw cotton prices to Rs 6,500-7,000 per cubic foot from Rs 5,700 per cubic foot in January.
② Manjeet Singh Chawla, chairman of the Indian Madhya Pradesh Cotton Mills Association, said that only about 25-30% of cotton spinning mills are operating, and other factories have stopped production due to shortage of raw materials. Cotton mill supplies are provided by Cotton Corporation of India and stockists. The daily supply of cotton in the Madhya Pradesh market has dropped to about 20,000 quintals from 100,000 quintals in October and November.
③According to the Cotton Association of India, cotton production in Madhya Pradesh is expected to increase by about 17% to 2.1 million bales (170 kg per bale), although compared with last year, The country’s output decreased by 400,000 bales to 3.56 million bales. There are about 175 cotton spinning mills in Madhya Pradesh, of which about 125 are located in the main cotton growing belt up to Dhar.
AAAfefgehfjgffjhggjgjyuy
Disclaimer:
Disclaimer: Some of the texts, pictures, audios, and videos of some articles published on this site are from the Internet and do not represent the views of this site. The copyrights belong to the original authors. If you find that the information reproduced on this website infringes upon your rights and interests, please contact us and we will change or delete it as soon as possible.
AA
