Cotton Arrived In India Increased By 5.3%
The state owned Cotton Corp of India said that the cotton reached India during October 1st -12 26.
Comprehensive media reported on December 27th that India's state owned Cotton Corp said Monday that the volume of cotton arrived in India during October 1st -12 26 was 5.3% more than that of the same period last year, to about 11 million 900 thousand bales.
An official who asked not to be named said that the volume of arrivals in almost all areas had increased in the past few days, due to the stop of rain.
Gujarat Bong (Gujarat), Maharashtra.
Officials said that as of December 26th, the average daily arrival volume of cotton in India increased to about 250000 bales (170 kg / pack), up to about 153000 bales in December 19th.
Despite the increase in volume, local cotton prices are still expected to remain strong.
India is the second largest cotton producer and exporter in the world. The country allows exports of 5 million 500 thousand bales of cotton from November 1st, but traders are expected to export only half of their exports until the deadline for export in December 15th. The country will issue new permits to allow exporters to export quantities of cotton that they did not export before December 15th.
The demand for cotton in India has surged in the past few months as the volume of domestic production is expected to be bumper harvest, while the main producing countries such as China and Pakistan have predicted a decline in production due to floods.
At the beginning of this month, A.B. Joshi, a textile department member, said that India's cotton production in October 1st could not be lower than the previous estimate of 32 million 500 thousand packages, despite the recent heavy rain in the main producing areas of the south.
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