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Current monthly cotton consumption estimated at only 15 lakh bales : Trade body

25 Sep 2022 8:20 pm
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The trade body Saurashtra Cotton Ginners Association’s estimates for monthly consumption of cotton presently is around 15 lakh bales which only 50% of the average monthly consumption. Many spinning mills are closed due to yarn disparity and non-availability of cotton, as per the trade body. The market participants are waiting for the commencement of the operation of spinning mills.

The demand for cotton yarn should increase and all spinning mills need to consume cotton, the Association said.

Cotton Quality need to improve and It should be maintain proper grading wise.

Spinners need to give quality premium to cotton ginners and should not deduct heavy allowance for RD / Length or price volatility. Whole cotton trade need to do with ethically practice only.

Cotton brokerage of Rs. 75 per bales to be fixed which is suggested by CAI president Atul Ganatra.

Due to Flood in Pakistan 50-60 Lacs bales output will come which is 50-60% down compare to last year.

Indian BT Cotton Seed technology need to improve in India and with support of CAI and textile committee Indian cotton crop May reach 6 cr. Bales in coming 5 year.

In Coming Year there is challenges of Worldwide Recession, War situation, Flood, Currency and Economic situation which will affect Demand. Whole industries should do business very safely.

CAI is scheduled to launch official Cotton Contract on 18th October 2022 which will be useful in arbitration with proper quality and trade norms for the participants.

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