There is good demand for Indian cotton. Around 40 lakh bales of cotton have been exported from the country so far and another 15 or 20 lakh bales are expected to be exported by the end of this season. Around 14 lakh bales have been exported to Bangladesh so far, nine lakh bales to Pakistan and the remaining to Turkey, Vietnam and Indonesia.
China may import some 10 lakh bales this season. China has not been importing cotton for the last two or three years and has been using its buffer stock of some one crore bales and may soon tap overseas markets for some 20 or 25 lakh bales in the next seven or eight months.
Exports from India this year have received a fillip thanks to the rupee depreciation. In addition to exports, the country has also imported around ten lakh bales so far and there is the possibility of imports touching 35 or 40 lakh bales. The main reason for the imports is the pink bollworm infestation. In accordance with the advice of scientists, farmers in several areas, particularly in Maharashtra and Telangana, have uprooted their cotton crop without waiting for further pickings.
Crop estimates for the ongoing season have been lowered by eight lakh bales.