Changing consumer preferences bleed cotton mills, cheer polyester makers

Texprocil data shows 38.8% YoY dip in India's cotton yarn exports, at $1.28 bn in Q2; tepid domestic demand and rural stress add to woes

The marked improvement in the profitability of polyester makers has come at the cost of thousands of spinning mills, many of which fear closure due to the sustained decline in cotton yarn and a significant change in consumer preferences.

The Cotton Textile Export Promotion Council (Texprocil), the apex industrial body of the sector, showed a 38.8 per cent decline in the value of India’s cotton yarn exports, at $1.28 billion for the period between July and September 2019, from $2.09 billion in the corresponding period last year. Cotton yarn exports have been steadily declining month after month this year, even