Cotton export pegged at 67 lakh bales in current marketing year

Cotton export pegged at 67 lakh bales in current marketing year

Cotton export is estimated to increase by 15 per cent to 67 lakh bales (of 170 kg each) in the current 2017-18 marketing year, which started in October, because of the rise in the output of the commodity, Parliament was informed today. 

This assessment was made by the Cotton Advisory Board. 

The shipments were aggregated at 58.21 lakh bales during 2016-17 marketing year, Minister of State for Textiles Ajay Tamta said in a written reply to the Lok Sabha. The crop production is estimated to increase to 377 lakh bales during the 2017-18 period, from 345 lakh bales. 

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

In a separate reply, the minister said the government is taking several measures to promote procurement of cotton from farmers on minimum support prices through Cotton Corporation of India (CCIL). "During the current cotton season, CCIL has opened 348 procurement centres to ensure remunerative prices to farmers. 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.


By BOA Bureau