 "India's cotton exports plunges 36% till June")
India's cotton exports are estimated to have plummeted by 36% to 9.14 million bales in the first 11 months ended June of the current marketing year, a latest USDA report said.
The country had shipped 13.91 million bales of cotton in the August-June period of the 2011-12 marketing year. One bale contains 170 kg of cotton. The cotton marketing year runs from August to July.
"Preliminary data suggest that exports reached 9.1 million bales through end of June," the US Department of Agriculture (USDA) said in its latest report.
Yarn shipments in June are expected to have risen with the rupee devaluation boosting exports. Yarn export registrations for May have risen by more than 21% on a year-to-year basis, trade sources said.
Major exports markets continue to remain China, Bangladesh, and Vietnam, the report added.
The country's domestic consumption is expected to be 28.56 million bales this year, while trade sources indicate that the local demand will continue to remain strong as mills seek to cover their position till September.
There has been a steady demand from yarn manufacturers as exporters look to take advantage of the weaker rupee by exporting at higher margins, it added.
India's cotton production is estimated at 33.8 million bales in 2012-13 crop year (July-June), slightly lower than the last year.
The country had shipped 13.91 million bales of cotton in the August-June period of the 2011-12 marketing year. One bale contains 170 kg of cotton. The cotton marketing year runs from August to July.
"Preliminary data suggest that exports reached 9.1 million bales through end of June," the US Department of Agriculture (USDA) said in its latest report.
Also Read
According to trade sources, exports however have started picking up again with major trading firms busy buying at auctions of Cotton Corporation of India (CCI).
Yarn shipments in June are expected to have risen with the rupee devaluation boosting exports. Yarn export registrations for May have risen by more than 21% on a year-to-year basis, trade sources said.
Major exports markets continue to remain China, Bangladesh, and Vietnam, the report added.
The country's domestic consumption is expected to be 28.56 million bales this year, while trade sources indicate that the local demand will continue to remain strong as mills seek to cover their position till September.
There has been a steady demand from yarn manufacturers as exporters look to take advantage of the weaker rupee by exporting at higher margins, it added.
India's cotton production is estimated at 33.8 million bales in 2012-13 crop year (July-June), slightly lower than the last year.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%