Industry sources said several textile mills have reduced production due to low demand for yarn leading to a drop in demand for cotton
Industry sources said several textile mills have reduced production due to low demand for yarn leading to a drop in demand for cotton
Cotton consumption by textile mills has declined in the recent months and is expected to be 283 lakh bales (non-SSI mills) between October 2021 and September 2022, according to an estimate by Committee on Cotton Production and Consumption.
The Committee, which reviewed the cotton supply and demand position on Wednesday, said cotton consumption by SSI mills would be 19 lakh bales and for non-textile purposes, it would be 16 lakh bales. At a meeting last month, the committee estimated non-SSI mill consumption to be 285 lakh bales, SSI mill consumption to be 20 lakh bales and non-textile demand to be 42 lakh bales. On Wednesday, the Committee also revised import estimates to 12 lakh bales as against the earlier estimate of 15 lakh bales.
Industry sources said several textile mills have reduced production due to low demand for yarn. This has led to a drop in demand for cotton.
