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Import of cotton into India surges beyond 20 lakh bales

High cotton prices in the domestic market have pushed up cotton imports in the 2015-16 season. While Cotton Advisory Board (CAB) which comprises representatives of the textile industry, trade, ginners and government officials, had projected imports of around 15 lakh bales during 2015-16, trade and industry officials say imports have already crossed 20 lakh bales. This is in stark contrast to import of around 14.5 lakh bales in 2014-15. China, the largest buyer of cotton from India in the past, reduced imports significantly after it accumulated huge stocks as reserves.

The country imported around 80 lakh bales of cotton from India in 2013-14. But cotton exports to China plunged by over 50 per cent in 2014-15 as it shows India exported about 58 lakh bales of cotton in 2014-15.

 
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