Cotton consumption in India reduced by 10 lakh bales per month
The record high prices of raw cotton have led to a decline in the monthly cotton consumption in India. According to the Spinning Mills Association, 29 lakh bales are consumed per month in the country, but this month this figure has come down to 19 lakh bales. The reduction of 10 lakh bales in consumption in a month is astonishing. Let us know in which state there has been a reduction in cotton consumption per month.
A look at the reason for the low consumption of cotton-
Record increase in the prices of raw cotton.
Mills are not able to sell in domestic and export market at higher prices of yarn.
Many small mills are 100 percent closed due to loss.
- Many big mills are also working for only one shift.
Due to not being able to sell yarn at record rates, some mills have taken one or two days off in a week.
Many mills are shifting from cotton to polyester and viscose.
To reduce cotton usage, many mills are shifting from combed yarn to carded yarn.
There are also some states where these days there is a power cut of 6 to 8 hours daily, as a result mills remain closed for the same number of hours.
Garment and powerlooms are working with only 30 to 50 percent capacity.
Due to the high rates of cotton yarn, the garment sector and powerloom unions have announced 100% strike from May 15 to 22.
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