India’s cotton export assessed to rise to 67 lakh bales in current year

The current 2017-18 marketing year which started in October, due to the rise in the output of the commodity, Parliament was informed that the cotton export is estimated to increase by 15 percent to 67 lakh bales (of 170 kg each). This assessment was made by the Cotton Advisory Board.

The crop production is estimated to increase to 377 lakh bales during the 2017-18 period, from 345 lakh bales.

Minister of State for Textiles Ajay Tamta said in a written reply to the Lok Sabha that the shipments were aggregated at 58.21 lakh bales during 2016-17 marketing year,

As for higher production cost in the textile industry, he also said that the cotton prices in comparison to the previous year show that the average prices have decreased by 2-4.8 percent for various cotton varieties.

In a separate reply, the minister said that the government is taking several measures to promote procurement of cotton from farmers on minimum support prices through Cotton Corporation of India (CCIL).

As on December 20, 97.59 lakh bales have arrived for cotton season 2017-18. Out of which, 3.66 lakh bales have been procured by CCIL under MSP operations from farmers.

CCIL has opened 348 procurement centres during the current cotton season to ensure remunerative prices to farmers.