India likely to export 7 m bales of cotton this year

India likely to export 7 m bales of cotton this year

India likely to export 7 m bales of cotton this year

India is likely to export 7 million bales of cotton in 2018-19, down 30 per cent from an earlier estimate, as scanty rainfall and an attack of pink bollworms are likely to squeeze crop yields.

Lower shipments from the world’s biggest producer of the natural fibre amid rising demand from top consumer China could support global prices, which till recently were trading near their lowest level in over four months, reports said.

Gujarat and Maharashtra account for more than half of the country’s total cotton production.

Manjula

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