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Indian raw cotton export falls 41% in 2014-15
30
Apr '15
India’s export of raw cotton during 2014-15 (Apr - Feb 2015) declined by 41.32 per cent in quantity terms and 46.60 per cent in value terms compared to the corresponding period of 2013-14, according to a government statement.

As exports account for a substantial share of India’s production of cotton, the decline in exports has resulted in a surplus for the domestic market and has impacted the cotton growers. Cotton Corporation of India (CCI) has undertaken large MSP operations in all cotton growing states, commerce minister Nirmala Sitharaman informed the Rajya Sabha in a written reply.

According to the agriculture ministry’s second advance estimate, India’s production of cotton during 2014-15 was 351.52 lakh bales (of 170 kg each) as compared to 359.02 lakh bales in 2013-14 and 356.02 lakh bales in 2012-13.

For safeguarding the interests of cotton growers in general and disposal of cotton to be procured under the MSP operations in particular, the textiles ministry written to Indian missions in cotton deficit countries like Bangladesh, Vietnam, Indonesia, Turkey and Thailand to explore new avenues for export of cotton for stabilizing cotton prices in India. (SH)

Fibre2fashion News Desk - India

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