Palm | Kelapa Sawit

indian cotton export news june 10 2011, india agriculture commodities - Cotton export enhancement shocks Indian spinning sector: LUBBOCK (Commodity Online) : Cotton export enhancement by one million bales this season has shocked the Indian cotton spinning sector.

Coimbatore-based The Southern India Mills’ Association in a statement today, June 9th has expressed dissatisfaction with the recent Indian government’s decision to cap the cotton export this season at 6.5 million bales of 170 kg each instead of 5.5 million bales.

Government of India on June 8th decided to increase this year’s cotton export by one million bales (170 kg each).

J Thulasidharan, Chairman of SIMA has stated that the government has earlier assured to maintain a closing balance of 5 million bales. With the enhanced export limit, the closing stock this year will come down to 1.75 million bales.

In a statement, SIMA Chief has criticized India’s Agriculture Ministry for over estimating this year’s crop to be 33.9 million bales. SIMA is backing an estimate of 31 million bales, which is less than the Agriculture Ministry’s estimate.