India's cotton imports are likely to jump 80 per cent from a year ago as production could fall to the lowest level in nine years due to low rainfall in key growing region, a senior industry official told Reuters on Thursday. Higher imports by the world's biggest cotton producer could support global prices, trading near their lowest in more than a year. The drop in Indian supplies could help rivals such as the United States, Brazil and Australia increase cargoes to key Asian buyers such as China, Bangladesh and Pakistan. "The production is not sufficient to fulfil ...
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The country could import 2.7 million bales in 2018/19 marketing year ending on September 30, up from 1.5 million bales a year ago, he said.
Topics
Cotton Imports | Cotton
Rajendra Jadhav | Reuters |
First Published: Thu, February 07 2019. 18:02 IST
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