Curious case of India’s cotton export

There is a likelihood that India’s cotton export could spring up to 40 per cent in 2020-2021, around 7 million bales compared to the valuations an year ago. Rally in global prices and depreciation of domestic currency have enabled the exporters to close in the export contracts, as per the insights shared by the head of trading body to Reuters. 
Being the world’s largest cotton producer, India has seen a gradual increase in the cotton export in October owing to the import trade curbs on the United States, Brazil and Australia imposed by Asian buyers such as China, Bangladesh and Vietnam. 
As India supplies cotton at the cheapest rate, export demand is bound to increase further as long as trade curbs on compatriots continue. According to Atul Ganatra, President, Cotton Association of India, “A recovery in the global prices could lift Indian exports to 7 million bales in the new season from 5 million bales a year ago.”
The only concern before cotton exporters is the limited availability of containers which is delaying the fulfillment of export order.
Cover Image by BusinessToday

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