Indian cotton exports up 67 per cent due to late demand in Bangladesh

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June 20, 2024 Rising demand from Bangladeshi mills is expected to increase India’s cotton exports by more than two-thirds during the 2023–24 season, which ends in September.

According to reports, the Cotton Association of India (CAI) anticipates shipments to total over 26 lakh bales (170 kg apiece), which is 67.7 per cent more than the 15.5 lakh bales shipped in the previous season.

Due to delays in its import shipments from the US and Brazil, Bangladeshi mills are now purchasing Indian cotton. Bangladesh receives exports of roughly 1-1.5 lakh bales every month, according to Atul Ganatra, head of CAI. Cotton is transported by road from India to Bangladesh in approximately five days.

In its recent meeting, CAI revised the pressing estimates for 2023-24 at 317.70 lakh bales, up from 309 lakh bales in February.

The bulk of the increase has come from farmers offloading their aged stock in Central India.
Still, compared to the 318.9 lakh bales of the previous year, the pressing predictions for the current season are smaller.

The president of CAI ascribed the rise in pressing numbers to the incoming carry-forward equities into the markets. Approximately 296.53 lakh bales had been pressed as of May’s end.

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