Ethiopia Will Ban Cotton Exports

According to the general manager of Ethiopia cotton production, cotton ginning and Export Association, this year's cotton demand in Ethiopia will reach 57 thousand tons, but domestic cotton can only supply 51 thousand tons. If the export of cotton is not prohibited, then domestic textile production enterprises will be forced to import cotton from other countries and spend a lot of money.

According to analysis, in addition to the above supply and demand reasons, the larger gap between the export of raw cotton and the export of cotton products is also one of the reasons for prohibiting cotton.

The Secretary General of the Ethiopian textile and Garment Manufacturers Association said that the maximum amount of foreign trade per kilogram of raw cotton exports was 2 US dollars, while that of each kilogram of garments (1.2 kilograms of raw cotton needed) could earn 15 US dollars.

Supplement:

India exporters have asked the government to intervene in the India rupee, which is constantly revalued. Because of the appreciation of rupees, it is difficult for exporters to keep their profits unaffected.

Delhi Exporters Association (DEA) said, "now the market situation is very grim, rupee has appreciated to 44 rupees against the dollar, causing panic in the industry.

Exporters do not know what to do because they have booked their orders. "

The association said, "we have booked the order at the time before, at that time the exchange rate was 46 rupees to one dollar.

We face a lot of difficulties in getting orders, because the economic slowdown in the US and Europe is slowing down.

"Besides, there is competition.

A few months ago, exports began to recover, but the India rupee appreciated against the US dollar, making the situation worse.

If rupees continue to appreciate, some enterprises' textile exports may fall by 10%.