Industrial Cluster: India'S Cotton Export May Increase By 50%

 

Mahesh Sharda, President of the cotton association of India (CAI), said cotton prices in India were 15 cents lower than the cotruk index. If Pakistan opens up the Indian cotton market, Indian cotton exports will further increase to 7-7.5 million bales, far higher than 5 million bales last year and 4.2 million bales in 2018 / 19.

 

India's cotton exports are likely to increase by 50% to 7.5 million bales (170 kg / bag) in 2020 / 21, with demand from China and Bangladesh recovering in the past month, the Indian trade agency said. In the past ten days, China alone has ordered 100000 bags (170 kg each).

 

Dharmendra Jain, partner, exporter and trader of DP cotton, said that as of the end of February, India had exported 3.8 million bales of cotton to China, Bangladesh and Vietnam, and signed future contracts for 700000 bales of cotton. He said India is expected to export 500000 bales to Pakistan, which will bring the total export volume this year to 7.5 million bales.

 

Saurabh pahade, a research analyst at Kedia advisory, said Indian cotton prices rose nearly 5% in a month due to tight supply and demand from exports and factories. Cotton prices in India have risen by 20% in the past year. From November to December 2020, China's demand for Indian yarn will return to the prenatal level, while Pakistan may allow to import cotton from India by land, and bilateral trade relations will gradually resume.

 

Atul ganatra, President of the cotton association of India, said that in the domestic market, cotton prices had risen gradually since October, from 40000 rupees per kand to 47000 rupees per kand. India's cotton exports were good in the first six months of October, but such a high rate may not be sustainable. As of February, India had exported about 3.4 million bales.