India’s cotton exports prediction falls to 1.8 mn bales for April’23

New Delhi, Apr 13 (KNN) Cotton exports from India for 2022-23 are estimated to drop by 500,000 bales in April 2023 to 1.8 million, reported Fibre2Fashion.

Exceeding imports by a significant margin exports have historically surpassed the former.

The last time that imports exceeded exports was nearly 20 years ago.

Lower domestic supplies, increased demand for foreign long and extra-long staple grades, and the Australia-India Economic Cooperation and Trade Agreement (ECTA) have all supported this recent dynamic.

The sum of 2022-23 beginning stocks and production is projected at a 14-year low of 33.1 million bales, significantly pressuring exports.

Moreover, Indian spot prices relative to global prices surged earlier in the year, in part due to lower cotton supplies, slowing shipments to major markets including China, according to the ‘Cotton: World Markets and Trade’ report by the United States Department of Agriculture (USDA).  (KNN Bureau)