| Date: |
29-11-2010 |
| Subject: |
India's Cotton Exports Likely to Miss Target: Textile Min |
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Indian cotton exports are likely to miss target this season due to slump in the crop, following untimely rains in states like Gujarat and Maharashtra, according to a senior official of the Ministry of Textiles.
The official said as per estimates, exports may hover around only 25 lakh bales (170 kg per bale) by December 15, against 55 lakh bales permitted by the government.
"We need to convene a meeting of Cotton Advisory Board. It is the body that will decide. We will have to wait for the clarity to emerge on how much will be exported. It looks like that it will be around 25 lakh bales. Trade bodies feel it would be only 20 lakh bales," the official said on condition of anonymity.
Unseasonal rains in cotton-growing states like Gujarat and Maharashtra and floods in Andhra Pradesh have affected the production of cotton this year.
The Ministry had earlier set a limit of 55 lakh bales for exports, assuming a bumper cotton crop. But it would be difficult for exporters to meet the export obligation. The shortage of cotton produce in India has pushed up cotton prices.
Meanwhile Panabaka Lakshmi, Union Minister of State for Textiles said here today the government has sanctioned 40 integrated textile parks across the country and 25 of them have become operational so far.
Source : deccanherald.com
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