ITF forms consortium purchase quality cotton to help spinning sector

Indian Texpreneurs Federation, an apex body of textile mills in the region alongwith its total members of 35 spinning mills have formed a consortium on a trial basis to purchase quality cotton from ginners of Maharashtra and Telangana with zero trash and low level contamination.

ITF Convenor Prabhu Dhamodharan said that even one percent savings by way of good quality, better pricing, timely purchase will help spinning sector reduce its cost of manufacturing. The consortium, which required 11 lakh bales per year, has purchased two lakh bales this year.

Considering fruitful results, it was planned to buy four lakh bales during this cotton season, starting October, since raw material cost was the major factor in spinning mills manufacturing cost, ranging from 60 to 70 percent, Prabhu said.

On advantage to ginners, he said that they can reach the top performing mills on a single platform and get a guarantee on professional transactions and timely payments and honoring contracts.

As the consortium was able to partner with more than 50 ginners in Telangana and Maharashtra, some 25 ginners are on a visit of mills in and around the city to know the trend and purchase plans.

Raveender Reddy from Telangana said that the state is expected to have cotton crop of 70 lakh bales and Maharashtra 100 lakh bales this season. Reddy added that the visit here was to evaluate a strategy to focus more on contamination controlled cotton.

Tamil Nadu spinning mills need stronger partnership with cotton growing states as it has requirement for more than one crore cotton bales,