Cotton Market: Demand Drop at Home and Abroad Leads to Indian Cotton Surplus

The Indian government said on December 14th that global demand has been declining and domestic consumption has been slowing, resulting in an oversupply of Indian cotton this year and the price has dropped.

State Minister of Textiles Panabaaka Lakshmi, in charge of textiles, said in a written reply to the Federal Institute that "national consumption slowed, coupled with the decrease in demand for Indian cotton on the international market, and therefore the national surplus of cotton and cotton prices fell.

She said that the national natural fiber production in the 2011-12 cotton season increased from 32.5 million bales last year to 35.6 million bales (170 kg/bundle), and this year domestic cotton consumption is expected to decrease to 21 million bales, down from 24 million bales last year. .

She added that domestic textile mill operations only maintain 15 days of inventory.

She said that as the number of arrivals in 2011-12 may increase from 100,000 bales/day last year to 300,000 bales/day, and there is no increase in domestic and foreign demand, prices have plummeted.

She said: “December 2011 cotton prices have fallen from Rs 62,400/candy in April 2011 to Rs 34,500/candy. Indian cotton prices are at 86 cents/lb, which is already the cheapest cotton in the world. 1candy is equal to 3.6 quintals.

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