Textile Market News

As Tamil Nadu readies a new textile policy, industry stakeholders are appealing for state support to modernize aging powerloom units. Many powerlooms need upgrades or retrofitting to maintain competitiveness, according to local industry associations. Key issues raised include financial aid for modernization and tackling waste from Common Effluent Treatment Plants. Rising electricity costs, now at Rs 9.5 per unit, were also highlighted as a major burden for mills.

Deputy Commissioner B Susheela has announced the opening of Minimum Support Price (MSP) cotton procurement centres in the district. Farmers can now sell their cotton crops at these designated centres. The Cotton Corporation of India Limited's Hubballi unit has been tasked with overseeing the procurement process. To be eligible for MSP, cotton must meet quality standards, including a moisture content of 12 per cent or less.

A recent Rs 10 per kg reduction in cotton yarn prices has gone down well among Tiruppur's knitwear exporters. This price drop, effective comes ahead of the peak New Year and Christmas season, and is expected to stimulate domestic production and international exports. The price reduction across all counts, including 20s kh and 40s kh, has been welcomed by industry leaders. KM Subramanian, President, Tiruppur Exporters' Association, believes this development, coupled with the decline in cotton prices to Rs 56,000 per candy, will significantly contribute to achieving the annual export target of Rs 40,000 crore.

An innovation in ring spinning technology promises to significantly boost productivity and yarn quality. The new ‘S-2m’ ring-traveller system, developed by a team of researchers, offers a revolutionary approach to traditional ring spinning. The core issue with traditional ring spinning is the high friction between the traveller and the ring, limiting the machine's speed.

Farmers in erstwhile Adilabad district, a major cotton-producing region in Asia, are facing significant losses due to insufficient procurement centers. The Cotton Corporation of India (CCI) has established only 11 centers, leaving many farmers reliant on private traders who offer lower prices and additional charges. The government's Minimum Support Price (MSP) for cotton is Rs 7,520 per quintal, but private traders are offering only Rs 7,010, along with a 2.5 per cent commission and a Rs 25 per quintal handling fee.

Tajikistan's cotton harvest is facing significant delays due to heavy rainfall, potentially impacting the country's textile industry. Till late October, only 164,000 tons of cotton had been harvested, falling short of expectations. The delayed harvest could extend into mid-December, leading to lower production volumes. Slow harvest poses challenges for Tajikistan's textile industry, which heavily relies on domestic cotton supply.

After a tough 35-year legal battle, the Gujarat High Court has finally approved the sale of 58,000 sq. yards of land belonging to the bankrupt Aryoday Spinning & Weaving Mills in Ahmedabad's Asarwa. The land, valued at Rs 82 crore, will be purchased by Devbhoomi Agrifresh. This decision comes as a bittersweet victory for the 3,285 workers who have been patiently waiting for their rightful compensation since the mill's closure in 1989. Despite the long delay, only a meager Rs 55 lakh has been disbursed to the workers so far, and tragically, over 60 per cent of them have passed away during this protracted legal process.