Cotton ginners are hopeful that notwithstanding the present slump, India will be able to export at least 40 lakh bales each of 170 kg of cotton in the current season. Ginners believe that in case the trade slump caused by the spread of coronavirus in China ceases, the export could be more than 45 lakh bales. Meanwhile, raw cotton from India is expected to find favour in the international markets as the produce is around 5 to 7 per cent lower than the international prices.

Estimates by the Cotton Association of India (CAI), the industry body that represents the cotton value chain, have shown that till January 31, 192.89 lakh bales have arrived in markets, which industry sources say, is around 55 per cent of the produce.

The Cotton Corporation of India (CCI) under its Minimum Support Price (MSP) operations have procured 56 lakh bales while the country has seen 10 lakh bales of imports. Robust procurement by the CCI and a spike in prices of cotton seed has seen average traded prices of kapas (which contains 33-34 per cent lint, with the balance accounted for by seed) in the Rs 5,100-5,200 per quintal range in majority of the wholesale markets of the country.

Ginners from Khandesh — comprising Nandurbar, Jalgaon, Dhule, Nashik and Ahmednagar districts — are hopeful to export directly to Bangladesh. In this regard, a special team will be leaving for Bangladesh towards the end of February.