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Dip in Chinese Orders to Hit Cotton Exports 16 Oct 2012  
Dip in Chinese Orders to Hit Cotton Exports

Dip in Chinese Orders to Hit Cotton Exports

 

China’s total imports are likely to drop to 2.5 million tonnes this year, half of last year. Around 65 per cent of India’s cotton is exported to China.

MUMBAI, Oct. 15 Export of cotton from India is expected to drop to 7 million bales (1 bale = 170 kg) in 2012-13, down from 12.8 million bales last year. The decline would be due to a sharp fall in demand from China, according to the Cotton Advisory Board (CAB), which is headed by the Textile Commissioner.

China’s total imports are likely to drop to 2.5 million tonnes this year, half of last year. Around 65 per cent of India’s cotton is exported to China.

“China’s imports will be lower as their crop is good: they also have huge stocks,” said the Textile Commissioner, Mr. A. B. Joshi. Indian cotton prices are higher than global prices.

“Although China is expected to reduce import of cotton from India, they may start importing cotton yarn.” said Mr. Umang Kapasi, Joint Managing Director of Coimbatore based Shri. Vardhaman Cotton Corporation, which is also an indenting agent.

The CAB has pegged this cotton year’s (October-September) total production at 33.4 million bales, as against 35.3 million bales last year. The fall in production is attributed to the scanty rainfall received in major growing areas of Gujarat, particularly Saurashtra.

 

(Source: Exim India Dt. 16.10.2012)
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