India’s domestic cotton demand for the 2022-23 season up to September is estimated to be lower by about 18 lakh bales (170 kg each) at 300 lakh bales or nearly 6 per cent less than last year’s 318 lakh bales, the Cotton Association of India (CAI) has estimated. The association’s Cotton Crop Committee meeting on Monday attributed the decline in domestic consumption to a reduction in operations of mills due to slack demand for yarn and cloth.
The cotton trade body said spinning mills operated at 40-60 per cent capacity in the first quarter, which may cause cotton consumption to drop in India for the year starting October 2022.
Source: businessline.
