Apparel / Textiles & Accessories

A local analysis agency in Mumbai, India said that before a large number of cotton is listed in the new year, it is difficult for spinning mills to resume normal operations, and high cotton prices will continue to bring huge pressure on the textile and apparel industry. On the 15th, the domestic S-6 spot price in India remained stable, currently at 102,500 rupees/candi (167.85 cents/lb), while the S-6 spot price in the same period last year was 5,100 rupees/candi (88.75 cents/lb) , the price basically doubled year-on-year after a year.

According to local media reports, nearly 70% of India's national spinning capacity is located in southern Indian states, and nearly 10% of them have been closed. The average capacity of spinning mills in Gujarat is also below 50%. Analysts pointed out that the profit margins of small-scale spinning mills were the most affected, while the profit margins of large and medium-sized spinning mills were better controlled, or only slightly decreased.

In addition, it is reported that some orders in the Indian home textile industry have flowed to Pakistan. Due to the depreciation of the Pakistani rupee against the US dollar, European and American traders are now more inclined to purchase Pakistani textiles.