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Cotton exports should not exceed 8 mn bales- Expert
13 Apr '10
2 min read
The Cotton Advisory Board (CAB) has revised the export estimates of cotton for the year 2009-10 (October-September), in a meeting held recently in Mumbai. This year cotton exports are expected to reach up to eight million bales, however earlier, this figure was estimated at 5.5 million bales.
The board has also revised the cotton production estimates for ongoing fiscal. Earlier, the cotton production was expected to be 29.5 million bales which has now been revised to 29.2 million bales, considering, the rate of cotton arrivals.
In respect of cotton exports this year, around 7.95 million bales of cotton have been registered with the Office of the Textile Commissioner for export, since October 2009, of which nearly 5.45 million bales have already been shipped.
The closing stock for this year is estimated at four million bales, while earlier it was anticipated at 6.85 million bales. Secretary of the South India Cotton Association, Mr. K. N. Viswanathan said that the effective measures should be taken by the government so as to ensure that the cotton exports would not surpass 8 million bales.
Cotton exports beyond this figure would impact domestic market in terms of prices. These prices have displayed a 35 percent elevation in past two months and are estimated to increase further, which would take its toll on spinning mills, he said.
The board has also revised the cotton production estimates for ongoing fiscal. Earlier, the cotton production was expected to be 29.5 million bales which has now been revised to 29.2 million bales, considering, the rate of cotton arrivals.
In respect of cotton exports this year, around 7.95 million bales of cotton have been registered with the Office of the Textile Commissioner for export, since October 2009, of which nearly 5.45 million bales have already been shipped.
The closing stock for this year is estimated at four million bales, while earlier it was anticipated at 6.85 million bales. Secretary of the South India Cotton Association, Mr. K. N. Viswanathan said that the effective measures should be taken by the government so as to ensure that the cotton exports would not surpass 8 million bales.
Cotton exports beyond this figure would impact domestic market in terms of prices. These prices have displayed a 35 percent elevation in past two months and are estimated to increase further, which would take its toll on spinning mills, he said.
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