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India Spinning Mill Cut Production By 1/3

2011/6/9 15:07:00 53

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Export Quota Of Cotton Yarn Price In Spinning Mill

The India spinning mill will reduce production by about 1/3 to reduce the huge inventory pressure caused by the decline in cotton yarn prices and the weak domestic demand.

According to the report, 1998 factories in more than 3300 registered textile factories in India participated in the May 23rd day production protest, demanding that the India government attach importance to India's cotton industry.

The protest was jointly planned by Confederation of Indian Textile Industry (CITI) and several cotton textile associations. The meeting was scheduled for the early June to plan the next step.

CITI chairman Shishir Jaipuria condemned the India government's lifting of the export restrictions on cotton yarn in April 1st of this year, and India began to implement 720 thousand metric tons of cotton yarn since December last year.

Export quota

India's domestic cotton mill has a huge stock for sale.

Jaipuria chairman pointed out that since the lifting of the export of cotton yarn in April, the accumulated inventory of cotton yarn has caused the collapse of cotton prices worldwide and the domestic market in India. What is worse, consumers are beginning to avoid the market because they speculate that cotton prices will go down further because the excessive storage of cotton mills is subject to financial pressure and will be cleared at any cost.

He added that due to the weak domestic demand in India, cotton spinning mills found it extremely difficult to clear out large quantities of stock.

India's output value is 700 billion India Lubi ($15 billion 500 million).

cotton spinning

The industry employs more than 700 thousand workers. The annual export value of cotton yarn is nearly US $3 billion, accounting for 25% of the global cotton yarn market.

Jaipuria chairman salty letter, the 10.3% garments that were taken this year.

Excise tax

And the recent implementation of the water pollution regulations forced hundreds of dyeing and finishing factories in India textile town to close, all of which had a serious impact on the India garment industry, and it also defeated India's yarn and fabric consumption market.

The cotton textile association appealed to the government of India to resume the export tax of cotton yarn. However, the government of India hit back on the demands of the association. It indicated that the quota measures were designed to meet the growing demand for cotton yarn domestic demand and curb the soaring cotton prices.

A statement pointed out that even the export quota of 720 thousand tonnes is still the highest export achievement achieved by the India spinning industry over the years, showing an increase of 22% compared with the 589 thousand tonnes of 2009-10 years and 556 thousand tonnes of 2008-09, showing that the quota measures adopted have achieved some success and have reached a certain degree of stability in cotton and cotton yarn prices.