Textile sector will bottom out very soon- Ms Lilin, CCA
The just completed cotton season played havoc and spared neither the farmer nor the trader in the initial months of the new cotton crop arrivals in the market. Despite the fact that prices ruled at four year lows, there was minimal demand from the textile mills for want of liquidity. China fared no better, but was saved by the market inter-vention of the government which procured huge amounts of cotton from the farmers and ginners.
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