Prices likely to remain stable: Ganatra
Cotton exports so far this season (October 2020 to September 2021), have clocked 47 lakh bales and are expected to touch 60-70 lakh bales by the end of the season. Pradeep Kumar Agarwal, CMD, Cotton Corporation of India (CCI), said total cotton exports may touch 70 lakh bales.
The CCI, which has 47 lakh bales in stock and has exported almost one lakh bales so far, is looking at shipping an additional 10 lakh bales. There may be exports of 10-12 lakh bales to Bangladesh, he said.
However, Atul Ganatra, president, Cotton Association of India (CAI), said the association estimated total cotton exports this season at about 60 lakh bales.
International prices have dropped and those of Indian cotton are now on a par with international prices. So, exports may not account for much. Prices in India are expected to remain stable or vary slightly. It will depend on government agencies that have almost 50 lakh bales in stock, he said.
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