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India Trade: India'S Cotton Production Increased By 13.6% In 2019/20.
The forecast issued by the India Trade Organization shows that India's cotton production increased by 13.6% in the 2019/20 year due to the expansion of arable land and the increase in average monsoon.
However, the India Cotton Association (CAI) said that the export volume of India, the world's largest cotton producer, could be stable at 4 million 200 thousand packs last year, the lowest level in ten years, as cotton prices in the local market are higher than the global benchmark.
If India's exports remain at its lowest level in 10 years, they may support global prices and help competitors such as the US and Brazil increase exports to key Asian buyers such as Vietnam, Bangladesh and Pakistan.
CAI chairman Atul Ganatra said: "because of adequate rainfall this year, we expect that the increase in production will be based on higher planting area and higher yield per unit area."
It said that since the cotton growing areas in Gujarat and Maharashtra in the West have started to rain, the 35 million 500 thousand package forecast of 2019/20 from October 1st will be revised next month.
India experienced the most monsoon rainfall in 25 years in 6-9 months, and even continued rainfall in October and November.
Pradeep Jain, a cotton gin operator from Jia Gang, Maharashtra, said the recent rain could damage cotton harvest.
India's cotton consumption in 2019/20 could increase from 31 million 200 thousand packages a year ago to 31 million 500 thousand bales, the agency said.
Arun Sekhsaria, general manager of D.D. Cotton, a cotton exporter, said the supply of new cotton has begun, but traders still have difficulty in signing export contracts because local prices are still higher than global prices.
"Cotton in India is 4 cents more per pound than cotton in other countries," Sekhsaria said.
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2019/11/4 12:06:00
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