Import of cotton in the 2018-2019 cotton season is expected to be 22 lakh bales, almost seven lakh bales higher compared with the previous season. The Cotton Advisory Board, which met on Tuesday, estimated (provisional) cotton production this season (October 2018 to September 2019) to be 337 lakh bales of 170 kg each. The international price of cotton is lower compared to the domestic price. It is not just the mills, but traders are also importing, especially African cotton. There are offers for American cotton too, added J. Thulasidharan, president of Indian Cotton Federation. Meanwhile, cotton consumption (total demand) during the current season is expected to be lower at 361.5 lakh bales as against 386.65 lakh bales last season. Exports are expected to be just 50 lakh bales though the board earlier estimated it to be 65 lakh bales. Consumption of cotton by the domestic textile mills has dropped as yarn production has reduced. Prices of cotton in the domestic market have remained largely stable though it is higher than international prices, and the season is likely to end with adequate closing stock (neraly 40 lakh bales). If all the cotton- growing areas are covered by the monsoon rains by the first week of July, production next year will be good, Mr. Thulasidharan said.

(The Hindu)