The Hindu : National : Over 10 lakh bales of cotton ready for exports

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Over 10 lakh bales of cotton ready for exports

M. Soundariya Preetha

Textile associations seek ban

COIMBATORE: About ten lakh bales of raw cotton have been registered for exports with the Office of the Textile Commissioner since October 1.

An official at the Textile Commissioner’s office told The Hindu that since the commencement of the current cotton season (October 2009 to September 2010), 10.18 lakh bales of raw cotton were registered for exports for shipments to be made in 45 days. So far cotton arrivals in the market were nearly 18 lakh bales, the official said.

South India Cotton Association Secretary K. N. Viswanathan said cotton arrivals were delayed because of rains in Maharashtra, Andhra Pradesh, Karnataka and Gujarat recently.

The Cotton Corporation of India had started operations in Punjab and Haryana markets.

Domestic mills were also buying in the market now and exporters were purchasing for shipments to be made in December.

These factors had led to a pressure on prices.

However, the price quoted for Indian cotton in the international market was lower than the price for the international varieties and the dollar conversion rate was not favourable to cotton exporters. These could dampen exports and export realisations could be lower than expected, he said.

Meanwhile, textile associations had appealed to the government to ban cotton exports.

According to them, cotton prices had shot up in the domestic market in the last few weeks even for standard varieties such as Shankar 6.

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