MUMBAI (Commoditiescontrol) - The Indian government’s recent decision to direct state authorities for closure of textile units releasing hazardous waste disposal, has certainly impacted the country’s cotton industry.
Following the closure reports, country’s cotton sector seems to have come under major stress. Not long ago, market players had become optimistic in cotton considering the bullish trend in markets. Resultantly, ginning mills had build huge stocks, as demand in yarn was constantly rising. However, now demand in yarn has slowed down, hurting cotton prices. Grey markets have large inventory as printing process has slowed down, which would halt arrivals of finished product in market yards, eventually leading to tight liquidity on the whole. Demand in garment is good at the moment, but then there is short availability issue, said a Mumbai-based garment trader. Upcoming Ramzan season followed by Ganpatti festival are prompting stockists to build stocks and sell to retailers much before. Usually, garment markets in India witness constant strong movement right from the current wedding season till Diwali festival.
The Pollution Control Board in Rajasthan had been directed by the High Court to close down all polluting textile units operating without a NOC in the Sanganeer block. Effluents from these units have been polluting the Draviyawati River (Amanisha Nulla) and ground water in the area. Similarly, the Maharashtra Pollution Control Board (MPCB) has also directed a proposal for closing of the Metro Hi-Tech Cooperative textile park, as the board has found grave irregularities in the ways the park treats effluents. Also, the India’s National Green Tribunal (NGT) ordered closure of 739 textile factories in Balotra, Jasol and Birthuia until July 9. Further, members of the Tamil Nadu Pollution Control Board (TNPCB) demolished two textile dyeing factories for discharging untreated effluent into the drains.
(By Commoditiescontrol Bureau; +91-22-61391533).
0 Comments 
Post Comment 
