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Cotton export delays may lift spot prices
05
Oct '10
India, the second largest exporter of cotton has prolonged the date from which exports of cotton may begin, which is expected to flare-up cotton prices in countries like China, Bangladesh and Pakistan, as users scramble to acquire stocks.

Overturning the estimates of the exporters, cotton export consignments have been delayed by almost a month, and would now start from November 1.

Further, as these exports have been deferred, this would require the importers to procure cotton from whatever source they can, so that they can meet their immediate requirements.

It was just a couple of days back that cotton futures soared to 15-year high levels following the rising apprehension that, the demands may supersede supplies.

Pakistan, the third largest consumer of cotton is expected to import around 2.8 million bales of cotton this year, because floods have devastated most of country's domestic cotton production.

Structural discrepancies in the supply-demand ratio are driving the cotton prices, globally. Experts say that, delay in shipments from India may broaden the gap between the spot prices and New York futures.

A ceiling of 5.5 million bales has been imposed on exports of cotton from India. The ceiling figure will be reconsidered in the second half of December 2010.

Fibre2fashion News Desk - India

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