Cotton imports up 20% since October

Posted by Daily Shipping Times on 20-02-2017        Tweet

PUNE: India's cotton imports have been increased 20% since October following fears of lower supply due to demonetisation. However, with more cash being injected into the economy, crop arrival has improved significantly, particularly in Gujarat.

Atul Asher, Honorary Secretary, Indian Cotton Federation, said Indian traders and mills had contracted imports of 7 lakh bales (one bale is 170 kg) in the five months since October 1, 2016, the start of the cotton year. “This is higher by 20% over the same period of the previous year. Total cotton imports for 2016-17 will not be less than the previous year,“ Asher said.