Global cotton prices are expected to remain under pressure with rising stocks and continuing economic uncertainty as recovery is seen to be inconsistent due to countries’ varying abilities to deal with the pandemic, the International Cotton Advisory Committee (ICAC) said in its latest monthly report. It said that worldwide cotton production is expected to decline […]
Even plummeting prices aren’t enough to offset COVID-19’s impact on global cotton consumption — but the situation could improve quickly, assuming the world gets the pandemic under control, the International Cotton Advisory Committee (ICAC) said in a report. The price projection for the year-end 2020/21 average of the A Index is 62.8 cents per pound […]
Despite softer cotton prices, revenues of Indian garment makers are set to decline by 25%-30% this fiscal year due to covid’s impact on demand, according to rating agency CRISIL. The impact will be felt more by garment exporters due to stretched receivables and tepid discretionary spending in the US and the European Union, according to an […]
The Cotton Corporation of India (CCI) has procured around 1.04 crore bales of 170 kilograms each. This is a global record of procurement by any single entity till date. The total procurement by CCI is valued at Rs 28,000 crore. The previous best performance by CCI was 90 lakh bales in 2008. Of the total […]
Higher than normal monsoon rainfall across the country – 5% above normal so far – has boosted sowing of kharif crops by 19% this year, brightening the prospects of another year of bumper harvest, as reported here last week. The locust attack has also been brought under control and there are no reports of any […]
Ten percent higher monsoon rains than normal have led to a 21.2 percent spike in area under kharif crops in India, the agriculture ministry said, adding that the total acreage under crops had risen to 692 lakh hectares (ha) by July 17 against 570.86 lakh hectares area during the corresponding period of last year. The […]
The International Cotton Advisory Committee (ICAC) has revised downwards the world’s ending stocks of the natural fibre marginally to 23.19 million metric tons for the season beginning August, down by 0.85 million metric tons from the previous estimate. However, year-on-year cotton stocks are still set to grow by 4%, which shows that the pressure on […]
Cotton sowing has picked up pace across India because of good rainfall, with nearly 92 lakh hectares coming under cultivation so far. Last season, farmers had completed sowing operations on 46 lakh hectares around the same period. Cotton sowing is expected to cross 115-120 lakh hectares for the 2020-21 season, according to industry bodies. This […]
World’s second largest cotton producer India may be in a bind over a situation of plenty this year, boding ill for global markets. With seasonal monsoon rains on track to be one of the best and the government offering higher minimum prices to farmers, expectations are that cotton output could top last year’s level 330 […]
As a retaliation against tighter scrutiny of Chinese goods by Indian Customs, Bangladesh has started hitting back against Indian supplies through the Petrapole border in West Bengal since Wednesday. The move is purportedly in response to a decision by the West Bengal authorities to retain restrictions on imports from Bangladesh via Petrapole to contain the […]
