India boosts cotton exports to hit spinning sector
India’s decision to allow export of an additional 1 million bales of cotton this cotton season has hit the Indian spinning sector.
The Coimbatore-based South India Mills Association described in a statement on June 9 that the Indian government had recently increased the cotton export quota for this cotton season from 5.5 million bales to 6.5 million bales (each bale = 1.70 Kilogram) decision is unsatisfactory.
The Indian government decided on June 8 to increase this year’s cotton export limit by 1 million bales (each bale = 170 kilograms).
Mr. Thulasidharan, president of the South India Factory Association, stated that the government had previously guaranteed to maintain an ending stock of 5 million bales. As export restrictions increase, ending stocks will fall to 1.75 million bales.
In a statement, the president of the South India Mills Association criticized the Indian Ministry of Agriculture for overestimating this year’s cotton production, reaching 33.9 million bales. The South India Mills Association’s estimate of cotton production is 31 million bales, which is lower than the Ministry of Agriculture’s estimate.
The South Indian Mills Association has applied to the Indian government to reconsider its June 8 decision to allow more cotton exports.
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