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Cotton import expected to rise
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Why in the news ?
- As textile mills are increasingly buying cotton from the U.S. in larger quantities, cotton imports this season might surpass the official estimate of 17 lakh bales.
More on news
- Since U.S. firms offering discounted cotton this season, textile mills are booking cotton from the U.S.
- Total imports during the last cotton season (20162017) was 30.94 lakh bales and the previous year it was 22.79 lakh bales.
- The total imports this season (October 2017 to September 2018) might cross 20 lakh bales
- Though imported cotton is of slightly lower micronaire (one of the quality parameters of cotton) compared with the widely used domestic cotton (Shankar 6 variety), mills were opting for U.S. cotton as these were free of contamination and realisation would be better.
- Mills in Andhra Pradesh, Gujarat, and Tamil Nadu are buying from the U.S.
- Domestic cotton production is estimated to be high this cotton season at 377 lakh bales.
Source
The Hindu.