Cotton consumption highest  in the  country  in 10  years

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By  our  Commercial  Correspondent

New  Delhi, June  26  (IVC)    Cotton  consumption in  the  country  by  the  textile industry in  the  current  marketing  season (October  2023  to  September  2024)  is  one  of  the  highest , according  to  a  press  release  of  the  Ministry of  Textiles .

                The  third  meeting  of  the  Committee on  Cotton  Production  and Consumption  for  this  season was  held on June  24,  the  Textile  Commissioner, Roop  Rashi  said.  This  year  will be the second  highest  consumption in 10  years  with demand of  about  307  lakh  bales, including  103 lakh  bales from the MSME  textile  units, he  added.

                Cotton  production this  season  is  expected to  be  325.22  lakh  bales, imports 12  lakh  bales  and exports 28  lakh bales.  The  season is likely   to end  with  47.38 lakh  bales as  closing  stock.                 The  industry  stakeholders said  current  Indian  cotton prices  are  higher than international  market  prices and are unlikely  to    rise  further aand the textile mills are  operating  at  75-80  capacity, the oress  release  said. 

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