Indian Cotton Exports Soar 137% Between October & March
India’s cotton exports during the October-March period of the 2023-24 season have soared significantly by 137 percent to 18 lakh bales as against just 7.59 lakh bales in the similar six-month period last season.
This was informed by the Cotton Association of India (CAI) in its latest estimates report.
India’s cotton exports for the 2022-23 season that ended in September 2023 was 15.59 lakh bales and so exports in the first six months of ongoing season are higher than figures for the whole earlier season.
“For some time, Indian cotton prices were lower by Rs 3,000-4,000 per candy compared to prevailing international prices based on the Cotlook Index benchmark,” CAI President Atul Ganatra said.
CAI however warned that with international cotton prices easing in recent weeks, the pricing advantage that Indian cotton commanded has now neutralised.
Even through exports are expected to moderate in the coming months, CAI still projects India’s total cotton exports for the full 2023-24 season to surpass 22 lakh bales.
