Published On: Nov 26, 2022 by Yarn
Cotton exports this year may fall short of the 40 lakh bales estimated recently by the Committee on Cotton Production and Consumption, traders said.
According to Rakesh Rathi, former president of Indian Cotton Association (ICAL), Bathinda, export enquiries are poor as Indian cotton is more expensive by 10 cents a pound compared with world cotton prices.
“We started this season with very poor opening stock. Arrivals are not picking up as expected and domestic mills are gradually increasing capacity utilisation,” he said.
Cotton arrivals in November usually surpass 1.5 lakh bales a day. At present, it is at 1.15 lakh to 1.3 lakh bales per day. In several areas, sowing and harvesting have been delayed. Further, farmers were waiting for prices to improve, he said.
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