Related Keywords: coastal textile hubs, Cotton Corp of India, cotton prices overseas, cotton sowing, Indian cotton import, lower freight costs, new cotton, spinning mills, weak monsoon
India’s cotton import witnesses rise in recent week as cotton sowing has been delayed this year due to weak monsoon raising concern about production followed by sharp decline in cotton prices overseas.
Mills in the coastal textile hubs of southern India have started bringing in shiploads of cotton from Africa due to lower freight costs and as benchmark prices fell to a five-year low on Aug. 1 because of the prospect of ample global supply.
