According to the latest US Department of Agriculture (USDA) report, Indian cotton exports are expected to be slow in mid-December, as demand from major cotton-consuming countries is uncertain, especially China.
The U.S. Department of Agriculture added that India's export forecast for 2011-12 (October-September) has been reduced by 50,000,000 bales, 170 kg each, to 7.5 million bales.
However, the U.S. Department of Agriculture has not adjusted India’s cotton production this year and remains at 35 million bales.
According to the US Department of Agriculture report, Indian cotton exports may slow down around mid-December because exporters are waiting for a clearer tariff level and enquiries from China.
The outlook for Indian cotton exports is somewhat uncertain because China may raise tariffs from January 1, 2012, and China’s procurement plans are not guaranteed.
The U.S. Department of Agriculture added that so far it has been reported that India has registered 2 million tons of exports to China and Bangladesh.
In 2010-11, India is estimated to export about 6 million bales of cotton.
The U.S. Department of Agriculture’s report also stated that in recent months, the Indian Rupee has depreciated by nearly 20% against the U.S. dollar and has fallen from 44 Rs to 52 Rs/US$. Therefore, the price of Indian cotton is lower than that of Other cotton producing countries.
However, although India’s cotton production is expected to record a record, the arrival of cotton continues to lag behind in 2010-11 due to the delay in cotton picking. At the same time, farmers are reluctant to sell cotton and expect to increase market prices and support prices.
According to reports, Indian cotton is the lowest-priced cotton among the major cotton exporting countries, but currently the seed cotton price is trading at Rs 40-42/kg, which is higher than the minimum support price of Rs 31-32/kg.
The US Department of Agriculture said that in recent days, the price of Indian cotton has fallen, indicating that the speed of arrival of cotton has begun to increase.
In terms of domestic demand, the U.S. Department of Agriculture said that demand in India’s domestic textile industry is still weak, and textile mills only purchase cotton that is urgently needed recently because yarn inventory is large and export demand is weak.
The U.S. Department of Agriculture added that India's export forecast for 2011-12 (October-September) has been reduced by 50,000,000 bales, 170 kg each, to 7.5 million bales.
However, the U.S. Department of Agriculture has not adjusted India’s cotton production this year and remains at 35 million bales.
According to the US Department of Agriculture report, Indian cotton exports may slow down around mid-December because exporters are waiting for a clearer tariff level and enquiries from China.
The outlook for Indian cotton exports is somewhat uncertain because China may raise tariffs from January 1, 2012, and China’s procurement plans are not guaranteed.
The U.S. Department of Agriculture added that so far it has been reported that India has registered 2 million tons of exports to China and Bangladesh.
In 2010-11, India is estimated to export about 6 million bales of cotton.
The U.S. Department of Agriculture’s report also stated that in recent months, the Indian Rupee has depreciated by nearly 20% against the U.S. dollar and has fallen from 44 Rs to 52 Rs/US$. Therefore, the price of Indian cotton is lower than that of Other cotton producing countries.
However, although India’s cotton production is expected to record a record, the arrival of cotton continues to lag behind in 2010-11 due to the delay in cotton picking. At the same time, farmers are reluctant to sell cotton and expect to increase market prices and support prices.
According to reports, Indian cotton is the lowest-priced cotton among the major cotton exporting countries, but currently the seed cotton price is trading at Rs 40-42/kg, which is higher than the minimum support price of Rs 31-32/kg.
The US Department of Agriculture said that in recent days, the price of Indian cotton has fallen, indicating that the speed of arrival of cotton has begun to increase.
In terms of domestic demand, the U.S. Department of Agriculture said that demand in India’s domestic textile industry is still weak, and textile mills only purchase cotton that is urgently needed recently because yarn inventory is large and export demand is weak.
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