MUMBAI (Commoditiescontrol) – India cotton consumption in February declines from last month, while cotton stock rose, according to recent data released by Textile commissioner office.
Cotton yarn production in the month of February was tad down from a month ago, while cotton stock was projected lower from January.
India cotton consumption in February was estimated at 24.51 lakh bales (170kg each) from 25.15 in January, but up from 24.58 lakh bales from a year ago.
India cotton consumption dropped mainly because of sharp losses in crude oil that has led to increased synthetic yarn use along with financial crunch, mainly to small to medium scale industries.
The data revealed that cotton consumption from October 2015 to February 2016 dropped 1.8% at 123.13 lakh bales compared with 125.46 lakh bales corresponding period last year.
Cotton stocks in the country in February was projected higher at 55.90 lakh bales versus 50.46 lakh bales a month ago, while down from 51.97 lakh bales last year.
Similar trend was witnessed on consumption side in cotton yarn during February which dropped 1.9 percent at 338.20 million kg against 344.61 million kg last month. Cotton consumption however during April 2015 to February 2016 rose 2.6 percent at 3793.71 million kg from 3697.73 million kg same period a year ago.
Cotton yarn stocks in February was estimated at 155.08 million kg, down from 158.58 million kg from a month ago, while it rose from 149.92 last year.
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(By Commoditiescontrol Bureau; +91-22-40015533)
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