Mumbai: India will probably export about 85% of its September target by March as local yarn-makers start selling cotton directly instead of making yarns, an official and traders said.
The country has exported or contracted to export 5.5 million bales by March-end compared with its target of 6.5 million bales by September, when the cotton year ends.
“Around 5.5 million bales have either been exported or contracted for exports so far,” J.N. Singh, textile commissioner and chairman of the Cotton Advisory Board (CAB), said.
India’s cotton production in 2007-08 is estimated at 31 million bales, while exports are seen at 6.5 million bales, a CAB estimate in early January said. “Yarn makers are exporting cotton directly instead of value-added cotton yarn,” said N.M. Sharma, managing director, Gujarat State Cooperative Cotton Federation.