Business Daily from THE HINDU group of publications
Tuesday, Jul 31, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 31, 2007 ePaper |
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Agri-Biz & Commodities
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Cotton Industry & Economy - Exports & Imports Record cotton export, crop likely in 2007-08
Arrivals of 2006-07 crop are estimated have topped 270 lakh bales as of July 21. International cotton market is expected to turn positive on the price front.
Our Bureau Mumbai, July 30 The country is slated to harvest yet another record crop of cotton. Going by acreage and rainfall trends, there is conviction that output could surge by 10 per cent to about 300 lakh bales (170 kg) in 2007-08 (October-September) from around 270 lakh bales this season. According to crop status report prepared by East India Cotton Association, cotton acreage has shot up from 58 lakh hectares to 69 lakh ha, with Bt Cotton alone accounting for an estimated 24 lakh ha till the latter half of July. In northern States including Haryana, Rajasthan and Punjab, planting is complete. Gujarat has had clear weather as a result of which over 90 per cent of area has already been planted. Maharashtra and Madhya Pradesh too are close to completion of sowing. Arrivals of 2006-07 crop are estimated have topped 270 lakh bales as of July 21, as compared with the crop size seen at 275 lakh bales max. Exports from out of the 2006 crop are currently estimated at about 45 lakh bales, with bulk of shipments destined for China (27-30 lakh bales). Other importing countries include Pakistan, Bangladesh, Turkey, Thailand and Indonesia. Further shipments of about 5 lakh bales are seen a possibility. Strong domestic consumption growth (240 lakh bales) in 2006-07 is likely result in a closing stock of less than 50 lakh bales, the lowest in three years. Market participants have already begun to take a close look at domestic and global market conditions for the ensuing season. A large Indian crop is likely to generate some export surplus. International cotton market is expected to turn positive on the price front.
Related Stories: More Stories on : Cotton | Exports & Imports
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