Public CompanyCotton export may rebound to 1.4 MT in 2009-10
Cotton exports may rebound to 1.4 million tonnes (MT) in the 2009-10 season as a recovery in the global market is expected to boost demand for the fibre, the International Cotton Advisory Committee (ICAC) has said. “Exports from India could rebound to 1.4 MT,” ICAC said in a statement.
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India’s cotton season runs from October to September. The current signs of recovery in the global market is likely to boost demand and cotton exports may touch the level (1.44 MT) achieved in 2007-08 season, industry experts said. Cotton exports of India, the world’s second largest producer of the fibre, had plummeted 55 per cent to 640,000 in 2008-09 season compared to 1.44 MT in the previous season due to global economic slowdown and high domestic prices.
ICAC said that global trade in cotton is seen to be up by 5 per cent at 6.9 MT even as the world production is forecast to be down by one per cent at 23.1 MT in 2009-10 season.
Cotton consumption is forecast to recover in the top three consuming countries, China, India and Pakistan, after a decline in the last season, it said. China is forecast to import 1.6 MT in 2009-10 season, about 8 per cent more than last season, it said, adding that Pakistan, Turkey, Bangladesh, Indonesia, Thailand, and Vietnam are also expected to import more.