India's Cotton imports likely to increase as output dips
Commodity Online | February 08 2019
UPDATED 14:34:37 IST

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India's Cotton imports are likely to jump 80 percent from a year ago as production could fall to the lowest level in nine years due to low rainfall in key growing region.

Rains in Gujarat and Maharashtra, which account for more than half of India's Cotton production, were nearly a quarter below normal during the June-September monsoon season in 2018.

India could import 2.7 million bales in 2018/19 marketing year ending on Sept. 30, up from 1.5 million bales a year ago. India imports Cotton mainly from the United States, Brazil and Egypt.

Spinning mills have imported 548,000 bales by the end of January out of total contracts of 1 million bales signed so far in the current marketing year.

India is likely to produce 33 million bales in the current season, down from earlier estimate of 33.5 million bales and last year's output of 36.5 million bales, CAI estimates.

Higher imports by the world's biggest Cotton producer could support global prices, trading near their lowest in more than a year. The drop in Indian supplies could help rivals such as the United States, Brazil and Australia increase cargoes to key Asian buyers such as China, Bangladesh and Pakistan.

 

Commodity Arrivals Rate
Mustard Oil 28 8700.00
Coconut Oil NR 17600.00
Arecanut 6 2800.00
Sugar NR 3700.00

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