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'Cotton production better than projections' – Mr JN Singh

04
Oct '08
Mr JN Singh, Joint Secretary, Ministry of Textiles, India
New cotton has started arriving in Indian markets. Though the area under cotton cultivation is likely to be around 9.3 million hectares, which is about 2 percent lower than the previous year, there are prospects of a good cotton crop on expectations of a better yield.

Speaking to fibre2fashion Mr JN Singh, Joint Secretary, Ministry of Textiles said, “Cotton prices are going down and a further fall in prices can be expected. The prices for cotton as seen on October 1 have gone down by 5 percent when compared with prices prevailing in September.

In this cotton year (October-September) 2008-09, cotton production is predicted to be better than projections. In the just completed cotton season of 2007-08 cotton production touched 31.5 million bales (1 bale = 170 kgs) in comparison to 28 million bales in 2006-07.”

Mr. Singh expressed confidence when he said “by the end of the eleventh five year plan (2007-12), the country's cotton production will reach 39 million bales.”

Further expressing his views on cotton exports Mr Singh said, “Exports in the first five months of 2008 have gone up by nearly 14 percent, though due to ongoing crises in the US, pace in exports has slackened. But compared to other countries India has maintained its export growth.”

“Exports are anticipated to grow in coming months. Indian exports will be benefited due to good cotton production and dollar appreciation.”

Last year India had exported 1 million bales of cotton.

Fibre2fashion News Desk - India


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