Friday, 30 March 2018

CAPITALSTARS - India to export 65-70 lakh bales of cotton in 2017-18

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India will export 65-70 lakh bales of cotton in the ongoing cotton season 2017-18 (October-September) amid aggressive demands from neighbouring countries like Bangladesh, Pakistan and China, said an official on Thursday.
Atul Ganatra, President, Cotton Association of India (CAI), said that apart from the neighbouring countries, India has also been receiving demands for cotton from several other countries, including Vietnam, Indonesia and Turkey.
According to the CAI, India had exported 63 lakh bales of cotton last year. Each bale has nearly 170 kg of cotton.
India has already shipped nearly 53-55 lakh bales in the current season and contracts have been signed for another 8-10 lakh bales scheduled for shipment in April-May.
As per the United States Department of Agriculture (USDA) figures, India is the largest producer of cotton in the world with 365 lakh bales this year, followed by China (353 lakh bales), the U.S. (273 lakh bales), Pakistan (105 lakh bales) and Brazil (103 lakh bales).
The five largest exporters of cotton are the U.S. (186 lakh bales), Australia (56 lakh bales), Brazil (54 lakh bales), India (54 lakh bales) and Uzbekistan (15 lakh bales).
As per the US agency, five major consumers of cotton are China (513 lakh bales), India (314 lakh bales), Pakistan (134 lakh bales), Bangladesh, (92 lakh bales) and Turkey (90 lakh bales).
The five major importers are Bangladesh (93 lakh bales), China (64 lakh bales), Vietnam (54 lakh bales), Indonesia (45 lakh bales) and Turkey (45 lakh bales).

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