Related Keywords: African suppliers, CITI, cotton import, domestic market, high price, Indian mills, Shankar-6 variety, Texprocil, transport cost
Cotton import is likely to double at 1.5 million bales (a bale is 170 kg) in the current cotton year (October 2013-September 2014), as compared to 0.7 million bales the previous year, due to the higher prices in the domestic market than abroad, according to the Confederation of Indian Textile Industry (CITI).
The benchmark Shankar-6 variety is trading at Rs 11,642 a quintal, in comparison with the landed cost in southern ports at Rs 11,000 a quintal.
