Textile mills have reduced cotton procurement to maintain minimum inventory. The purchases are expected to remain low till things become clear after the GST is rolled out. Traders estimate that cotton purchases have come down by more than 50 percent in recent times.
Nirav Patel of a city-based cotton export house said that cotton buying by mills has reduced noticeably as mills are preferring to keep minimum stock.
Patel said that purchases from even exporters had declined as there is still confusion over whether exporters will get duty draw back on cotton purchased before June 30.
According to estimates, on an average, 4.5 lakh bales are bought by mills every month. One bale weighs 170 kg.
But mills are buying only as much as they require, said Arun Dalal, a cotton trader from the city. Low procurement by mills has also brought down cotton prices in local markets.
The prices of top quality Shaker-6 variety of cotton dipped to Rs 43,000 from Rs 44,000-44,500 per candy a few days back.
Hyosung will present its latest textile innovations made from renewable and recycled resources at Première Vision Paris, taking place from…
Karl Mayer has expanded its RDJ machine range with the new RDJ 6/2 in E 32 gauge to give manufacturers…
Manchester-based clothing manufacturer WAWWA is investing £120,000 in digital manufacturing technology to improve factory productivity and reduce material waste.
HKRITA has developed an intelligent clothing system that can automatically adjust its thermal insulation according to changes in temperature.
British knitwear manufacturer John Smedley and London-based fashion label Wales Bonner have released their second co-branded collection for Autumn/Winter 2026.
ReFiber has launched a campaign to collect unused clothes from consumers and help address the growing problem of post-consumer textile…