Apparel / Textiles & Accessories

India's cotton output is expected to reach about 30.21 million bales (170 kg per bale) in 2022/23, but low international demand and rising cotton prices in India may lead to a record low in cotton exports, which is expected to be only 3 million bales. Last year, India also exported only 4.25 million packages. Huacheng Import and Export Data Observation reported.

According to Huacheng Import and Export Data Observation, as of the end of February, India's cotton export volume was only 800000 bales. The Cotton Association of India (CAI) lowered its cotton production forecast to 32.1 million bales from 33 million bales earlier this year. However, industry experts said that the output was still higher than last year's 30.5 million packages.

Gujarat Cotton Association said that the cotton price in India has been more than 60000 rupees/kand (356 kg), higher than the international cotton price. Due to inflationary pressure, global demand is very low, while due to the war between Russia and Ukraine, European demand has been very weak. India's cotton export volume usually exceeds 5 million bales. Huacheng Import and Export Data Observation Report.

Arun Dalal, an Indian cotton analyst, said that due to the weak confidence in the textile industry, domestic and international demand has been very low. According to Huacheng Import and Export Data Observation, the current operating rate of textile mills is about 80%, and domestic demand is stable. There were some orders from Bangladesh last month. Recently, the market volume of new cotton has increased, but the price of cotton this year will not be lower than 58000 rupees/cand, Huacheng Import and Export Data Observation Report.