Ducking the recent fall in international prices, India's cotton exports, driven by a good output are expected to touch an all time high of around eight lakh bales this season. | |
| "The recent price fall of around 10 cents a pound is restricted to New York futures, I do not think there is reduction in price for trading in physical stocks. India's exports will be around 7-8 lakh bales," chairman and managing director, Ginni Filaments, Rajaram Jaipuria told PTI here. |
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| He said bulk of the trading in Indian cotton has already taken place and with the production season over, only the contracts entered into earlier are being serviced. |
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| Secretary-general, Indian Cotton Mills Federation, DK Nair said it was a unqiue season when the global supplies were tight but India had a good crop, giving a spur to exports. |
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| He said compared to exports of not more than 50,000 bales in previous years, this time around it has jumped manifold and will be anywhere between six and eight lakh bales. |
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| Jaipuria said bulk of the exports were to countries like Pakistan, Bangladesh, Vietnam, Thailand and South Korea. |
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| He said Indian traders had entered into contracts at a time when prices were ruling at a remunerative 70 cents a pound and hence the recent fall in international prices has not had much affect on the country's exports. |
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| Nair said allegations of Indian cotton being highly contaminated is not a dampener on exports. "We are in a slot where our cotton can sell. Many countries use our kind of cotton. Pakistan which is facing shortage this season is one of them," he added. |
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