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Indian cotton to see two times increase in exports

10
Sep '09
Cotton exports from India may get doubled in the crop year starting from October, as higher domestic prices encouraged the farmers here to grow the fiber amid an anticipated shortfall in global production.

During this crop year, India's cotton exports may reach 6.5 million bales from an estimated 3.5 million bales, each weighing 170 kilograms (375 pounds). Global cotton consumption is likely to swell next year due to a stabilizing world economy.

Monsoon revival in most of the regions improved the condition of cotton crop, which is extremely good, at present. The overall cotton output of the country is projected to reach 31.2 million bales, against 29.3 million bales achieved in the previous crop year.

Planted area of cotton may reach 10 million hectares i.e. 24.7 million acres. However, global production is expected to fall to 23.3 million tons from 23.4 million tons due to the plunge in production in China, the biggest global producer of cotton. Along with India, the cotton output would probably increase in the US, Pakistan and Australia.

Fibre2fashion News Desk - India


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