Date: 21/06/2024

Cotton exports seen soaring by 67 pc 

India’s cotton exports for the 2023-24 season, ending in September, are projected to increase by over two-thirds due to rising demand from mills in Bangladesh. The Cotton Association of India (CAI) expects shipments to reach around 26 lakh bales (of 170 kg each) — a 67.7 per cent increase from the previous season’s 15.5 lakh bales. According to Mr Atul Ganatra, President of CAI, Bangladesh mills are buying Indian cotton as their import shipments from the US and Brazil have been delayed. Monthly about 1-1.5 lakh bales are being exported to Bangladesh. Bangladesh gets cotton from India delivered in about five days by road. At its recent meeting, the CAI revised the pressing estimates for 2023-24 to 317.70 lakh bales, up from 309 lakh bales in February. The increase has mainly come from Central India, where farmers are seen off-loading their old stocks, as per a report.
Source: Exim News Service: New Delhi, June 20