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Low prices, erratic monsoon boost cotton imports

Shipments could rise 25% above the official forecast

Reuters  |  Mumbai 

A sharp drop in cotton prices overseas and a weak monsoon have raised India's imports in recent weeks, which could lift shipments more than 25% above the official forecast for this season ending September and help support cotton futures. Cotton sowing in India, the world's second-largest producer and exporter of the fibre, has been delayed this year due to erratic monsoon rains, raising concerns about production. Mills in the coastal textile hubs of southern India buy cotton from Africa due to lower freight costs and are bringing in shiploads now as benchmark prices fell ...

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First Published: Wed, August 06 2014. 12:02 IST
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