Five-fold increase in India’s cotton shipments to China possible next crop year

Five-fold increase in India’s cotton shipments to China possible next crop year

Five-fold increase in India’s cotton shipments to China possible next crop year

Amid a trade war that is forcing the world’s top consumer to look for other sources of supply, India’s cotton shipments to China could grow five-fold to 5 million bales in the next crop year as exporters rack up orders.

It is said that the United States, the world’s biggest exporter of the natural fibre, has cornered a great amount of China’s imports for at least a decade.

But China’s decision to impose a 2.5 per cent import tax from July 6 on American farm commodities, that include cotton, in retaliation to tariffs enacted by the administration of US President, Mr Donald Trump, is expected to allow India to grab a bigger share of the Chinese market.

India has already signed contracts to ship 500,000 bales of its new season harvest to China, in rare advance deals, reports said.

Farsana

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