8mn Indian cotton bales lie unsold

15 Mar '14

3 min read

INTERNATIONAL

The New York futures has been fluctuating between 86.93 cents per lbs to 89.3 cents per lbs in the last fortnight. The Cotlook-A index is at 95.6 cents per lbs. Depending on the decision of the Chinese government to consume its huge stock reserve the demand for cotton imports may drop temporarily.

This may lead to drop in Cotton buying by leading exporters from India thereby creating a sluggishness in the Indian Cotton market. China announces its import tariff for Cotton. Due to scarce of arable land water sources, urbanization etc Cotton area in China may get relocated to new region as per reports. Cotton subsidy may mar the interest of Cotton Farmers. Beneficial rains are reported in California, USA.

In Pakistan cotton prices decline due to less demand from Mill sector. Pakistan plans to modernize Ginning Industry. In Pakistan a proposal to lift the ban on cotton seed import to improve the quality of cotton seeds. Mali planned to eliminate chemical pesticides and use more Bio pesticides like neem cake etc. Niger Govt. planned to boost cotton production.

An African delegation from Benin, Burkina faso, Chad, Malawi, Nigeria and Uganda is on a WTO sponsored Cotton technical programme for Africa to India. They have planned to visit Coimbatore also and meet stake holders during 1st week of March,14.

Indian Cotton Federation

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