Indias cotton planting area likely to rise by 15% to a 3yr high as prices increase
The Dollar Business Bureau Buoyed by increasing cotton prices, Indian farmers have started sowing cotton in a larger area. Sowing has begun on a stronger note in Haryana, Punjab, Karnataka for the 2017-18 season. India is the world’s biggest producer of cotton and a higher output in the country could enrich the cotton farmers who have been under distress due to prolonged drought, adverse market conditions, non-payment of bank loans and climatic aberrations. India’s current cotton crop for the season ending this September is expected to be 170 kgs or 34.1 million bales. According to M.M.Chockalingam, Chairman of the State run Cotton Corporation of India, “this year farmers received higher prices, so they are going to raise the area under cotton. We are ...
Price hike disables cotton exports in near future
The Dollar Business Bureau In the current marketing year end of September, the exports of cotton is likely to decline by 10% to 6 million bales due to a of hike in domestic prices, which restricted the competitive aspect of the natural fibre globally. India had exported 6.7 million bales in the marketing year of 2014-15. The top most export destinations were Bangladesh, Vietnam and Pakistan. BK Mishra, Chairman and MD of Cotton Corporation of India, revealed that so far 5 million bales were exported. However, exports have stopped as global prices are cooling down and domestic prices are increasing. The estimated total cotton exports will be around 6 million bales in 2015-16, he said. The prices within the country have increased to Rs. 1,000, ...
WTO removes subsidies helps Indian cotton farmers
The Dollar Business Bureau On the removal of subsidies on cotton exports by developed member countries of the World Trade Organisation (WTO), the Government of India said that it would help Indian cotton growers and prevent other countries from dumping subsidised products into India. Under the Nairobi Ministerial Declaration of WTO, the decision to eliminate subsidies on cotton exports will help the Indian exporters as it will provide an equal opportunity for local farmers, who were earlier not allowed subsidies, while other developed nations were offering the same to their farmers, the Ministry of Commerce said in a release. The Government of India is committed to the well-being of the country’s cotton farmers. To safeguard them, it has ...
Indian cotton prices remain too high for recovery in exports: CAI
The Dollar Business Bureau Higher production and lower global demand has led to a decline in cotton prices in India, but Indian cotton remains highly priced in the international market, according to the Cotton Association of India (CAI). Speaking at the Annual General Meeting of the Association, Dhiren N. Sheth, President, CAI, said last week, “Although the prices of Indian cotton have fallen substantially, they are still not competitive enough to attract foreign buyers.” Moreover, an uptick in demand and arrival of better quality crops have led to an increase in prices in the last few weeks. This means that cotton exports are unlikely to recover any time soon this year. Meanwhile, global demand is expected to remain low ...
India's cotton exports likely to decline 47% in MY2014-15
Neha Dewan | @TheDollarBiz An overloaded truck carrying cotton crop, Kota, Rajasthan, India The US Department of Agriculture (USDA) says that cotton exports from India in MY2014-15 may decline to the lowest in three years to around 5 million (480 lb) bales, which is down almost 47% from an estimated 9.4 million (480 lb) bales exported in the previous year. Last month, the USDA Post in New Delhi had said that India’s cotton exports in the marketing year beginning August 2014 may reach around 6 million (480 lb) bales, but the figures have been revised downwards, mainly due to declining demand in China which is expected to lower its cotton purchases from India. Source - USDA China’s restrictive import policy and surplus ...
Indias cotton exports forecast to decline 35% in MY2014-15
The Dollar Business Bureau | @TheDollarBiz After rising by almost 19% y-o-y in MY2013-14, India’s cotton (raw) exports are expected to decline sharply by almost 35% this year, mainly due to lower demand in China. According to the USDA Post in New Delhi, India’s cotton exports in the marketing year beginning August 2014 are forecast to decline to 1.3 million tonnes (around 6 million 480 lb bales), which is down about 34.8% from an estimated 2 million tonnes (around 9.2 million 480 lb bales) exported in MY2013-14. India is the world’s largest cotton producer (about 6.7 million tonnes) and the second largest exporter of cotton. India’s cotton exports have grown in the last few years, in tandem with growth in China’s imports. ...
