NEW DELHI: India’s cotton exports is likely to more than double to 6.2 million bales in 2009-10 season ending September, on the back of higher global demand and tight supplies in the US, says a report.
India, the world’s second biggest cotton producer, exported 2.36 million bales of cotton last season. “India’s exports are up by 4,00,000 bales to 6.2 million bales due to stronger global import demand and limited exportable supplies of the US cotton,” t he US Department of Agriculture said, while revising its last month’s estimate.
The department noted that tight cotton supplies in the US may benefit India this year. The ending stocks in the US may dip to 3.20 million bales, a level 70 per cent below that of just two years ago.
India’s top three export destinations - China, Turkey and Mexico - are projected to buy higher quantity of cotton as their import demand is estimated to rise by over 33 per cent to 14.5 million bales, it said. One bale contains 170 kg of cotton.
The import demand of China, the world’s biggest cotton producer, is pegged at 9.5 million bales, while that of Turkey at 3.5 million bales in the review period, the report said.
India has shipped 3.5 million bales during October - February period of the current season, the domestic trade data showed.
The country’s cotton output is expected to be slightly higher at 23.5 million bales in the 2009-10 season, as against the annual demand of 19.2 million bales.
Source : Business Line