Cotton Corpn Witnesses More Consumption

Coimbatore: Cotton Corporation of India (CCI), which is expecting the spinning sector to recover the lost ground by the end of the third quarter, hopes higher cotton consumption by the mills, more than last year. The net mill consumption is hoped to increase to 265 lakh bales in the coming season from the current 240 lakh bales. Bt cotton acreage this year pegged to be above 60 per cent, the yield will be higher giving volume-led pricing for farmers who are also hoped to gain more on quality of cotton produced by them. The higher cotton production will support the spinners in the form of stable prices. The cotton yarn market currently witnessing a slackened demand will revive beyond September.