The Southern India Textile Research Association Plans To Establish A Forecasting Yarn Price System.

2010/11/10 13:35:00 57

The southern India Textile Research Association (SITRA) will soon establish an organization that will develop a system dedicated to forecasting monthly cotton and cotton yarn prices.

Arindam Basu, the president of the association, said the association will commission the agency to complete the task of forecasting prices.

Yarn Market

All over India.

This organization needs to collect data on the national cotton and yarn market, which requires a powerful database.

This will be a continuous work.

The institution must forecast cotton and yarn prices every month.

The establishment of this system will take several months, as this is a new work and may need to be improved based on feedback.

Cotton and cotton yarn prices have soared in the past few months.

textile industry

Various industries have made requests according to their own needs, or they have asked to restrict the export of cotton or to prohibit the export of cotton yarn.

Therefore, we must find out the causes of price rise.

Rise in price

Is it due to market forces?

Research and forecasting will cover the entire India market.

This will not only benefit the textile industry, but also help the government to adopt policy decisions.

At the same time, the cotton yarn Advisory Committee recently held a meeting in Mumbai. The Committee estimated that the supply of cotton yarn will be 3 billion 460 million kilograms in 2010-11 years. The export may be 720 million kilograms. Consumption (excluding exports) is expected to be 2 billion 656 million kilograms, and the carrying stock is expected to be 84 million kilograms at the end of the year.