Surge in Cotton Exports as Prices Fall

Cotton exports from India are anticipated to nearly double in the 2023-24 season due to lower global prices. The Cotton Association of India reports a decrease in domestic prices, leading to increased competitiveness in the world market. Total production and import estimates have risen.

Cotton exports from India are on track to almost double to 28.50 lakh bales in the 2023-24 season, up from 15.50 lakh bales the previous year, thanks to more competitive global pricing, the Cotton Association of India (CAI) announced on Tuesday.

"Indian cotton prices were significantly lower during February-March compared to the global market," CAI president Atul S Ganatra explained in an interview with PTI. "This led to an export surge, particularly 20 lakh bales to Bangladesh."

For the current season starting October 1, average cotton prices are set at Rs 57,500 per candy compared to Rs 62,500 last year, CAI reports. The production is estimated at 325.29 lakh bales, up slightly from last year, while imports have also risen by 1.10 lakh bales.

(With inputs from agencies.)