India Textile Ministry Says India Will Import 1 Million 200 Thousand Bales Of Cotton.

India

Minister Anand Sharma said on the same day that according to the prediction of the Cotton Advisory Committee,

The factory may import 1 million 200 thousand packages (1 bags of =170 kilograms) of cotton products, including the short staple cotton produced in the current cotton season (October 2011 to September 2012).

The minister said that in July 2012, India

It has exceeded the price of cotton in the international market, so importing cotton is more economical.

In addition, the international credit financing interest rate is low, the quality of cotton in the international market is better, the textile mill saves the cost of storage and storage, and the higher liquidity of yarn is the reason why India imports more cotton.

So far, India has imported 480 thousand bales of cotton.

2010~2011 during the cotton season, India imported 500 thousand bales of cotton.

Minister Anand Sharma said that there was no urgent shortage of cotton in India at present, and that the final inventory controlled by the Cotton Advisory Committee will reach 2 million 846 thousand packages before the end of the current cotton season, equivalent to the cotton inventory of more than 30 days in the textile mill.

He added that the India government has not considered restrictions at present.

Textile mills can import such natural fibers with commercial feasibility.

In the current cotton season, the India Cotton Advisory Committee estimated that the output of cotton in India was 35 million 300 thousand packs, an increase of 33 million 900 thousand packs compared with the previous cotton season.

Similarly, India's cotton exports are expected to be around 12 million 700 thousand packs, an increase of 7 million 600 thousand packages compared with the previous cotton season.