News Tags

Related Keywords: attempt to safeguard interest of textile manufacturers, cotton imports, incentives for cotton import, make produce less appealing, Ministry of Textile Industry, opposed restoration of duty, Pakistan cotton demand, reflecting shortage of cotton bales, this move will affect farmers

The Ministry of Textile Industry in an attempt to safeguard the interest of textile manufacturers, has opposed the restoration of duty on cotton imports but this move will affect farmers, as incentives for cotton import will make their produce less appealing.

In the last fiscal year, the agriculture sector performed below par because of lack of interest on the part of government, which is considered pro-industry.

Related Keywords: area under cotton cultivation, Cotton Advisory Board, cotton bales, cotton imports, cotton production in India, likely to decline seven year low, pest attacks, reduction in the area, see a new high this fiscal, Union agriculture ministry

India's cotton production in 2015-16 has declined to 338 lakh bales (one bale of 170 kg each), down 12.4 percent from 386 lakh bales in the previous year, to hit a six-year low, according to last month's update of Cotton Advisory Board (CAB).

Related Keywords: commodity prices of second biggest producer in the world increased, cotton imports, likely to replace India, major exporter of cotton, Pakistan in current fiscal year, shifting to United States, US exports forecast to jump, USDA

Pakistan in the current fiscal year likely to replace India as the major exporter of cotton by shifting to United States for its cotton imports with after the commodity’s prices of the world’s second biggest producer increased, an industry official said. The US exports are forecast to jump one million bales to 11.5 million bales in 2016/17 as the report expects higher production in the US due to better crop.

Related Keywords: cotton exports to Pakistan may reach a record, cotton imports, created by lower off take from China, faces substantial drop in cotton production, Increased buying from Pakistan, largest cotton production state, make up for shortfall, Pakistan banking on Gujarat, Pakistan helped exporters, pushed up prices of cotton

Pakistan, the neighbouring country has so far imported over 13 lakh bales worth Rs 2,000 crore from India is now banking on Gujarat, the largest cotton production state that accounts for more than 7 lakh bales worth over Rs1,000 crore to meet its requirement as it faces a substantial drop in cotton production.

Interestingly , Pakistan garnered the lion's share of 46.6% of total 28.54 lakh bales exported from India during October-December 2015.

Related Keywords: cotton corporation of India, Cotton fibre, cotton imports, hike in local prices, increased exports, increased shipments, India's cotton purchases, marketing year, Pakistan

Cotton crop failure in Pakistan has led to coercion for the nation to raise its imports following the hike in local prices. This has profited the world’s largest producer of the cotton fibre. The Indian Government’s cotton purchases are to plummet to 89% due to the increased exports in the 2015-16 marketing year.

B.K. Mishra, chairman and managing director of the state-run Cotton Corporation of India (CCI) said that prices have been moved above the MSP (minimum support price) level in most states and farmers are selling to private players.

Related Keywords: apparel products, cotton consumption, cotton from Chinese reserves, cotton imports, next season, reduced demand for yarn, slow down, strong trade with China, US Department of Agriculture, Vietnam textile and clothing, yarn shipment

Vietnam is ranked amongst the world’s top 5 nations in textile and clothing exports. The exports of textile and apparel products continued to grow in 2014 despite the difficulties in global economy.

But its strong growth of cotton imports is likely to slow next season. The deceleration forecast for next season reflects ideas of reduced demand for yarn by China, where authorities are attempting to boost use of domestic supplies, and erode the huge inventories that the country ran up through a generous guaranteed pricing regime, that was withdrawn last year.

Related Keywords: China, cotton imports

Beijing is expected to begin to shift to crop subsidies as early as this year, gutting the stockpiling program that has driven up domestic prices and put a floor under global ones.

According to Jarral Neeper, president of Calcot, a growers co-operative and one of the largest US exporters, China's cotton imports may drop as much as 45 percent in 2014/15 as Beijing ends its stockpiling program and starts reducing its huge inventories.