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Increasing cotton exports, Indian textile industry cuts production indefinitely

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Increasing cotton exports, Indian textile industry cuts production indefinitely

  • Categories:Industry News
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  • Time of issue:2011-07-20 12:30
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Increasing cotton exports, Indian textile industry cuts production indefinitely

   [Webbing Network] Indian spinning companies have decided to cut production by one third from May 24, aiming to reduce the factory’s backlog of more than 500 million kilograms of yarn inventory, but by the end of May, they once again decided to reduce production The behavior was extended for two weeks because the yarn inventory only improved slightly.

    However, Dr Selvaraju, Secretary General of the South Indian Textile Mills Association (SIMA), said that the production cut will not only be two weeks, but will be indefinitely until the inventory returns to normal.

    He said that the current situation is very bad, the textile mill is suffering huge losses, the inventory has not been cleared, and domestic and export demand has not returned to normal levels. Generally speaking, India’s annual domestic yarn consumption is about 210 million kilograms, but due to pollution problems in the Tiruppur and ERODE regions, the current consumption is only about 150 million kilograms, which is almost a reduction of 60 million kilograms. According to the current national production The situation is that the export of yarn should be 100 million kg, but now only about 50-55 million kg, the main reason is that textile mills have stopped exporting in the past 2-3 months.

    Recently, many countries and buyers are reluctant to sign contracts with Indian yarn manufacturers. Domestic buyers have also proposed many payment terms. All spinning mills hold high-cost cotton inventories. Based on these factors, the government increased the cotton export ceiling this year from 935,000 tons to 1.105 million tons, but this will lead to a shortage of domestic cotton supplies. According to previous estimates, the ending stock of cotton in 2011 was 467,500 tons, which means that the inventory consumption ratio is only about 10%, while in China and other countries, the inventory consumption ratio is about 40-50%.

    He said that the government's decision to increase cotton exports will also result in hundreds of spinning mills being forced to close in August, September and October until new cotton is obtained in the next year. In fact, the Cotton Advisory Committee recently made estimates after collecting the conditions of various states. This year's cotton production in India was only 5.253 million tons, far lower than the Indian Ministry of Agriculture's forecast of 5.736 million tons.

    In addition, Indian cotton merchants currently hold about 255,000 tons of cotton. They do not plan to sell this to domestic spinning mills, but use it for export. The cotton in the hands of farmers has already been sold out, so the policy of expanding exports is also It will not benefit farmers. 

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