India, the world’s biggest producer and second biggest seller, are likely to witness fall in cotton exports by 41 percent to a five-year low of 7 million bales this crop year ending September as China, the top buyer to curb purchases, according to government official.
Lower exports from India could support benchmark New York price that fell to a one-week low on Monday.
The state-run Cotton Corporation of India (CCI) is set to suffer its steepest loss in at least six years from sales in the current season due to bulging world stockpiles and declining demand from China which intent on supporting its own growers.
India’s Textile Commissioner Kiran Soni Gupta on Tuesday revised downward the export forecast of 9 million bales made in October and said that the country will have to raise sales to Bangladesh, Pakistan and Vietnam which accounts for about 40 percent of the total exports currently.
Gupta further added that lower prices for Indian cotton may help boost shipments to these markets, despite dwindling demand from China.
India is expected to produce 39 million bales this crop year, down from the previous forecast of 40 million bales as yields suffered due to poor rains around the planting period late last year, Gupta said.
Domestic cotton demand is expected to rise about 7 percent to 32 million bales this crop year.
Researchers have created an innovative nanofibre patch that aims to simplify and improve the treatment of psoriasis, a common skin…
Clothing 2.0 has teamed up with The Marena Group LLC, a leader in medical-grade compression garments to transform the recovery…
Polartec has enhanced its Power Shield range, as it continues to replace petroleum-based materials with renewable alternatives while improving fabric…
Biomaterial company, Uncaged Innovations, has collaborated with ten independent fashion brands to launch Elevate, a new eco-friendly luxury leather alternative.
Rudolf introduced the Digital Pigment Printing Toolbox, a package of pre-treatment products to improve the quality and sustainability of pigment…
Aquafil Group, the innovator behind ECONYL regenerated nylon, has launched the ECONYL Bespoke Collection that mimic the aesthetics of natural…