Tuesday, June 25, 2024
spot_imgspot_img
spot_imgspot_img
HomeNews & ViewsBusiness FocusIndian cotton looks bright prospect in Bangladesh

Indian cotton looks bright prospect in Bangladesh

indian-cottonBangladesh is now the biggest buyer for India. More than 25 lakh bales have been bought till now. Bangladesh, Vietnam and Indonesia are prominent markets for Indian cotton. Traditional buyers such as China and Pakistan have cut down on their purchases.

Exports to China fell by 55 per cent between 2016-17 and 2017-18. Exports to Pakistan remained almost flat in 2016-17 and in 2017-18. However, higher prices are hurting exports. For most of the time last year, Pakistan had banned imports from India. But when Pakistan wanted the fiber, purchases were made around March-April. But cotton exports are again being banned by Pakistan.

The current rate of Rs 49,000 per candy seems to be high for the trade considering the grim situation in the export market.  Forward contracts are also lackluster. For November-December forward contracts have been executed for about five lakh bales. Uncertainty on the crop and yield is impacting the price scenario. On an all-India level, about 40 per cent cotton sowing is yet to take place as rains in most regions were delayed.

Weekly Newsletter

Get hand picked industry updates delivered straight to your inbox
SUBSCRIBE

YOU MAY ALSO LIKE

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement - spot_img

Join Our Weekly Newsletter

Get hand picked industry updates delivered straight to your inbox
Sign Me Up
- Industry Associate - spot_img

Upcoming Events

Simillar News

Recent Random

Target to Roll Out Transformative GenAI Technology to its Store Team Members Chainwide

Retailer's new GenAI-powered chatbot, Store Companion, is designed to make team members' jobs easier and enhance the shopping experience The tool is scheduled to roll...

Jean-Paul Haessig Stays President of the Bremen Cotton Exchange

The Board of the Bremen Cotton Exchange confirmed Jean-Paul Haessig as President of the association on the occasion of the General Assembly on 21 June. Haessig...

Bangladesh Looks to Boost $489 Million: Garment Industry Exploring on Virtual Marketplace

Bangladesh's rapidly expanding apparel sector, essential to the country's economy, is about to undergo a dramatic change. Ready-made garment (RMG) industry demands are being...
Get hand picked industry updates delivered straight to your inbox
Sign Me Up

Weekly Newsletter

Get hand picked industry updates delivered straight to your inbox
SUBSCRIBE