Cotton Export Likely to Jump 43% in 2018- 2019
It is expected that the India’s cotton exports will jump 43 per cent to 10 million bales in the 2018-19 marketing year on strong overseas demand, mainly from China.
In year, 2017-18, in general cotton shipments are likely to cross 7 million bales in the ongoing marketing year.
Till May 2018, already 6.2 million bales have been exported. According to reliable sources, the demand for Indian cotton is high as prices are almost 10 % lower than the international prices.
The President of Cotton Association of India, Atul Ganatra also informed about the same.
He also went on saying that the Indian cotton is quoted at Rs 46,500 per bale in the spot market, which is very much lower than Rs 54,000 per bale in the US and Rs 58,000 per bale in Australia.
Hence, China, which is the world’s second largest producer, has signed an advance contract for 5 lakh bales of new cotton crop from India.
This will be delivered in November-December of the 2018-19 marketing year. It is expected that in the next marketing year, total cotton exports to China could increase to 30-40 lakh bales from 10 lakh bales this year.
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