Cotton Cultivation area in India has increased to 122.59 lakh hectares from 108.45 lakh hectare when compared to last year. This results in the growth rate of cotton to 373 lakh balsas by 8.11 per cent as compared to the 2017-18. Every year New cotton season in India starts from October.
Sanjay Jain, CITI Chairman said that at least 15 lakh bales are likely to be exported while export figure is likely to be 70 lakh bales. He said, “Consumption including non-mill consumption is expected to reach 316 lakh bales this year due to high prices of cotton domestically and internationally as compared to 306 lakh bales in 2016-17.”
To add, China has inked an agreement with India for 5,00,000 bales of cotton from Indian traders for the new season as its buffer stock of cotton has declined to barely a year’s inventory.
Selling of new season cotton usually kicks off from August end after evaluation of crop size in the country, but this year, huge demand from China and higher process collectively motivated Indian exporters to go ahead with export deals in advance.
The Cotton Association of India (CAI) has revised cotton crop production for states while retained same estimated production for India in 2017-18.
– Apparel and Textile News, Apparel Talk, Indian Apparel
