Home / Knowledge / News / Textiles / Cotton exports set to bloom in current fiscal
Cotton exports set to bloom in current fiscal
21
Nov '08
The worldwide slump in cotton prices is also affecting prices of the white gold in Pakistan. But it is proving to be a boon for a country short on foreign exchange reserves. Exports of cotton are expected to grow by a wide margin in the current fiscal year (2008-09) compared to the previous year.

According to statistics released by the Federal Bureau of Pakistan, shipments of cotton have grown to 59,100 bales in October-08 from 17,400 in the same month of last year which translates in to a growth of nearly 250 percent.

The main buyers of Pakistani cotton are India, Bangladesh and Thailand. The ginners in Pakistan have demanded that the government start purchasing cotton on the lines of China & India which will help support prices, but the government has still not taken a firm decision on the same.

Meanwhile cotton prices in the international market have continued to crash and have fallen by as much as 6 percent, compared to the closing of the previous week in the first three trading days of the current week on the New York cotton exchange.

The prices in the Indian market are ruling high due to an increase in the Minimum Support Price (MSP) of cotton by 25-40 percent for different varieties, but this rise in prices has come with its own problems.

It is only the Cotton Corporation of India (CCI), a state owned cotton procurement agency, which is doing the purchasing, while the real users; the textile mills are staying away due to the high MSP prices. But this has come as a boon to Pakistani cotton since textile mills in India are importing the same due to the low prices prevailing here.

Cotton prices in China are also following trends set by global markets and have also lost 5-6 percent in the last few days. The government has mandated to purchase nearly 1 million tons of cotton grown from the current season, but the procurement pace is yet to pick up.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 27th Jun 2017

Vietnam to build fashion, textile, trading centres

Vietnam's Ho Chi Minh City will build large centres for designing...

Textiles | On 27th Jun 2017

Barcelona’s Unitin develops recycled Indigo yarns

Unitin, a trademark of Industrias Morera SA and a leading textile...

Information Technology | On 27th Jun 2017

ThreadSol to bring fabric solutions to Thailand

ThreadSol, an enterprise material management provider for the sewn...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search