11-Nov-2013
India's cotton exports are expected to drop by 9 percent to 9 million bales in the 2013-14 marketing year on sluggish demand and high prices compared to the global market, a report said.
India had shipped 9.9 million bales in the 2012-13 marketing year (August-July), it added. One bale contains 170 kg of cotton.
"The 2013-14 export estimate is unchanged at 9 million bales. Indian prices have been high relative to international prices over the past few months... Demand from China has also been weak. As reported previously, much will depend on China?s cotton policies," the US Department of Agriculture (USDA) said in its latest report.
However, if India resumes its position as one of the more competitively-priced cotton origins, the pace of exports could accelerate to the extent that there is demand, it noted.
In the last three months, 4,92,565 bales of cotton has been exported, the report added.
On the price front, the USDA said domestic rates have begun to drop with the increase in the pace of arrivals.
The country's cotton output is estimated to be a record 37.2 million bales this year, as against the consumption of 29.5 million bales for the same period, the USDA said.
The report mentioned that the Indian government is working to improve cotton data collection and has issued several notices over the past year concerning mandatory reporting requirements.
Source:- zeenews.india.com
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