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Expect precarious cotton stocks in Dec – Mr Nair, CITI
09
Nov '10
Mr DK Nair
Mr DK Nair
The government of India had placed a cap of 5.5 million bales on cotton exports for which the registrations have closed. Of this, the Office of the Textile Commissioner has permitted and cleared shipments for 5.2 million bales.

Of these 5.2 million bales, 90 percent are destined for just four countries; China, Bangladesh, Pakistan and Indonesia, who are the competitor countries in the global textile value-added markets, lamented a top official of CITI.

Speaking to fibre2fashion, Mr DK Nair, Secretary-General of Confederation of Indian Textiles Industry (CITI) said, “According to CAB estimates, there has been a carry over stock of 4.05 million bales from last year and around 6-6.5 million bales of ginned cotton will be available from the new crop by end-November. Thus, as of end-November, we may have a total of 10-10.5 million bales.

He added by saying, “Out of this, 5.5 million bales need to be procured by exporters, if they have to ship this quantity by December 15, as stipulated in the export contract registration and 4.5 million bales will be consumed in the country in two months, as per the current trend.

"Thus, as of early December, we may have just around 500,000 bales, as against the 5.5-6.0 million bales of stock required to ensure proper availability of cotton all over the country, which obviously is a precarious condition”.

“The largest importers of Indian cotton are China, Bangladesh, Pakistan and Indonesia, in that order and as per my understanding, out of 5.5 million bales meant for export, around 4.8 million bales are meant for these countries and they are the most tough competitors for our textile products in the global markets and the impact of these shipments on the textile and clothing industry would be extremely serious, to say the least”, he concluded by saying.

Fibre2fashion News Desk - India

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