13 Million 500 Thousand Packs -- India Cotton Exports May Hit Record

China is a major fiber importing country. The government of India initially estimated that China imported about 8 million 400 thousand bales of cotton as a national reserve, and therefore announced the ban on cotton exports in March.

The industry association said on Wednesday that after the government allowed the resumption of exports, India could export 2 million bales of cotton in the current crop year, so that exports would set a record of 13 million 500 thousand packages.

Last month, due to worries about the shortage of cotton supply in the textile industry, India amended the ban on cotton exports in March. The textile industry is the second largest employment creation industry in India. India is the second largest cotton producing country and exporter in the world. After lifting the ban, the India government allows exporters to resume shipments overseas.

Dhiren N. Sheth, President of India Cotton Association, said in a telephone interview with Reuters: "because of the very good demand in neighboring Bangladesh and other Southeast Asian countries, we may export more than 150-200 bales of cotton."

According to data from the cotton advisory board (CAB), India has exported 11 million 500 thousand bales of cotton, 170 kg / bag, during the crop year ending September.

China is the main.

Imported countries, the government of India initially estimated that China imported about 8 million 400 thousand bales of cotton as a national reserve, and announced the ban on cotton exports in March.

Sheth estimates that exports will set a record of 13 million 500 thousand packages, nearly 54% higher than the 8 million 800 thousand package export record recorded in 2007-08, which will put pressure on international cotton prices.

The Ministry of Agriculture estimates that cotton production will reach 35 million 200 thousand packs in 2011/12, higher than the 34 million 700 thousand estimate recommended by the Cotton Advisory Committee.

According to the Cotton Advisory Committee data, the carrying stock is about 4 million bales, so the total supply of cotton this year is 39 million 200 thousand packages, and domestic consumption is expected to be reduced from 26 million 700 thousand packages last year to 25 million 200 thousand packages.

Major textile producers and exporters Bangladesh

The demand is good. In the past six weeks, the India rupee depreciated by nearly 5% against the US dollar, breaking 53 against the US dollar, and India exporters eager to sell cotton to Bangladesh because they would pay the US dollar.

"The price of most India businessmen's contracts is about 92 cents per pound (CIF), which is about 6 cents higher than that of New York cotton.

China's private textile mills are still shopping for cotton, so prices are expected to go further, and Beijing is expected to allow more cotton imports at a low price in May.

China plans to issue new import quotas in May, up to 1 million 500 thousand tons (8 million 800 thousand bales), but it has not yet been announced.