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India’s cotton exports to rise by 30% in 2020-21

  

Trade sources predict India’s cotton exports will rise 30 per cent from 50 lakh bales in 2019-20 to about 60-65 lakh bales in 2020-21. The International Cotton Advisory Committee estimates global cotton consumption will rise to about 24.31 million tons in 2020-21 from 22.67 million tons in 2019-20. US’ ban on purchase of cotton products from the Xinjiang may unlock opportunities for India.

Vinay Kotak, Director, Kotak Commodities, says, next year, India’s cotton exports will reach 60-65 bales. Exports may depend on multiple factors including the government policy, India-China trade relations and global tensions. The main driver for these exports demand will be the price. Cotton Association of India (CAI) estimates, India’s exports for 2019-20 at 50 lakh bales, of which about 47 lakh bales have already been shipped till August 31, while the shipments may rise this month before the cotton marketing year ends on September 30. India had exported 42 lakh bales of the fibre in 2018-19.

The association’s opening stock for 2020-21 will be about 100-105 lakh bales. But most of this or about 80-85 lakh bales will be with government agencies, and only the rest with mills.

 
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