The southern textile mills after having done well for the last 10 month of the year in cotton yarn exports is facing a slow down in February-March due to drop in demand. However, the demand has not fallen sharply and expected to revive in April or after the elections.
According to Industry sources, on an average 120 million kg of cotton yarn was exported a month from the country for 10 months from April last year which is now reduced. China who had increased purchase in December and January has slowed down in February.
Cotton yarn exporters are also facing a drop in price. Further, value of rupee against the dollar is strengthening and that of the Chinese currency is weakening.
With India having exported 1,200 million kg in the first 10 month of the fiscal year was looking achieving export of 1,400 million kg of cotton yarn this year. It seems to be difficult now. Moreover, the cotton prices are around Rs. 42,000 a candy and textile mills are find the yarn rates unviable.
However, with the good demand for garment and home textile industry the international and domestic markets continues, the yarn market is looking ahead to see a boost in demand for yarn in the coming months.
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