New Delhi: India, the largest producer of cotton in the world, can import twice as long as last year, while exports from the country may fall drastically. According to the Apex Industry Organisation Cotton Association of India, India can import 31 Lac bales (170 kg in lump) cotton during the current cotton production and marketing year 2018-19 (October-September), as compared to about 15 Lac bales of cotton imports in the country last year.
also read Oil companies cut prices of petrol and diesel once again, check out the rates here
Such estimation was made
As per the information received from the sources, the industry organization in its May month estimate released on Monday said that cotton exports from the country could be 46 lakh bales this season, while India exported 69 lakh bales of cotton in the previous season. According to the organization, the production of cotton this year in the country is estimated to be 315 lakh bales and the total supply in the country could remain 374 lakh bales, including opening stock 28 lakh bales and imports 31 lakh bales.
With this, domestic consumption is estimated to remain 13 lakh bales for the next year after 315 lakh bales and exports 46 lakh bales in the entire season.
also read Sensex once again crossed the 40,000 mark in the market after PM Modi's swearing ceremony