| Date: |
24-08-2012 |
| Subject: |
India hikes cotton export forecast 10 pct for current year |
|
Aug 23 (Reuters) - India's cotton exports are likely to be 12.7 million bales in the season that began on Oct. 1, 2011, up about 10 percent from an earlier estimate, a senior government official said on Thursday.
But the country's Cotton Advisory Board (CAB) failed to issue a forecast for production and exports in the year starting Oct. 1, 2012 because a drought has made assessing acreage planted difficult, Textile Commissioner A.B Joshi said.
"We could not arrive at a conclusion on production estimate for the next season," Joshi told reporters after the CAB meeting.
India is the world's second-largest exporter of the fibre after the United States, which shipped around 15 million bales in its 2011/12 year.
India's cotton output was revised to 35.3 million bales in 2011/12 from 34.7 million bales earlier.
Source : in.reuters.com
|