1-Sep-2013
NEW DELHI: India's cotton exports are likely to remain flat at around 100 lakh bales (170 kg each) in the 2013-14 season due to lesser demand from China, according to a government official.
China is the biggest importer of the Indian natural fibre. Cotton season runs between October and September. "In the 2013-14 cotton season, the natural fibre exports are expected to remain flat at 100 lakh bales owing to lesser demand from China as it is already sitting on a huge inventory of cotton," the official told PTI.
According to the recent estimates of the Cotton Association of India (CAI), production is estimated to be higher at around 372 lakh bales in the 2013-14 season against 355 lakh bales in the current year.
"The natural fibre output is expected to be higher this time on account of good and timely rains, particularly in cotton growing states, which would result in higher yields," the official said.
The Cotton Advisory Board (CAB), which is under the Textiles Ministry, has not come out with its review on cotton for the current year or for the the next year. CAB, which usually meets every quarter to estimate cotton output, consumption, exports and imports has not come with any review since April this year.
In terms of cotton acreage there won't be much of a change and it may remain at the same level of around 115 lakh hectares, the official said.
Gujarat, which is the highest yielding state in India, has seen an increase of more than 10 per cent in acreage on the back of a good monsoon, he said.
As per the CAI projections, the domestic consumption may also remain flat at around 260 lakh bales in the upcoming season.
"There has hardly been fresh investments in textiles sector. Thus, the demand is expected to remain stagnant," the official said.
The price of a cotton candy (356 kg) is hovering around Rs 45,000 at present.
Source:- economictimes.indiatimes.com
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