The Collapse Of Cotton And Cotton Yarn Prices May Lead To The Closure Of India Textile Mills.
Recent raw cotton
Price
Decline,
Cotton yarn
Price follows
Fall
It seems to have damaged.
Do spinning
Factory profit.
India's national spinning mills worry that their profits will be squeezed.
In a month, benchmarks
yarn
The price of varieties has dropped from the highest 280 rupees / kg to 225 rupees / kg.
The main reason for the weak price is the increase in yarn stock and the decrease in exports.
Cotton prices are also falling, adding to the worries of the spinning mills.
Cotton prices in recent years have dropped to 42000 rupees / candy (356 kg) from the highest price of 62000 rupees / candy in April.
The government resumed yarn export in April, but abolished export incentives such as tax rebates.
This is not conducive to exports, because the international market price has also declined from the peak level in February to March, and export profits have been squeezed, said Sanjay Jain, President of the Calcutta Garment Manufacturers Association.
K Selvaraju, chairman of the South India Textile Mills Association (Sima), said the crisis facing the spinning mills in the first quarter and the two quarter of this year could be even more severe.
The profits of the spinning mill were seriously squeezed.
Most of the spinning factories in the country have a 50 to 60% boot rate.
The pfer stock will increase to 500 million kg, while the normal stock is 80 million kg to 100 million kg.
If action is not taken in time, the situation may be even worse.
The price of synthetic yarn is falling, but there is still demand for synthetic yarns.
Synthetic yarn prices follow crude oil prices.
The price of synthetic yarns was 82 rupees / kg a month ago, when the crude oil price was 128 dollars / barrel, and now the price dropped to 72 rupees / kg.
According to the Cotton Advisory Committee, India's cotton output is estimated at 31 million 200 thousand bales (176 kg) this year, while the export cap is set at 5 million 500 thousand bales.
The price of yarn has plummeted and export prospects are bleak.
The Federation of India textile industries (Citi) will convene the conference of all textile mills associations in New Delhi tomorrow and make final decisions at the conference.
They will meet on Wednesday to decide what to do next.
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