With yarn prices dropping sharply following the steep decline in cotton prices , textile mills , which bought cotton when prices were ruling at historic highs , have started to feel the pinch . Textile mills , which have about 65 lakh bales (1 bale = 170 kg ) in cotton stock, are staring at losses of over Rs 20,000 per candy (1 candy = 356 kg ) due to the steep fall in prices .

This would amount to an estimated loss of Rs 6,000 crore for the industry , according to the Confederatio...
Continue reading ...