Indian Textile Minister Ma Lang said on January 22 that the country’s total cotton exports will definitely not exceed 550,000 bales.
Taking into account the adverse effects of the soaring price of cotton, the Ministry of Finance has promised to spare no effort to protect the domestic textile industry. The latest forecast shows that India will produce 3.09 million bales in 2010-2011, while consumption will reach 2.85 million bales. As the current situation continues to develop, many textile mills in June 2011 are likely to “cottage cotton shortages†and will even spread to the livelihood issue. From this perspective, the country must strictly control cotton export quotas, otherwise the entire textile value chain will be blocked.
The South Indian Textile Association recommended that the textile, industry and commerce and agriculture sectors should unite and jointly maintain the export ceiling of 550,000 bales.
Taking into account the adverse effects of the soaring price of cotton, the Ministry of Finance has promised to spare no effort to protect the domestic textile industry. The latest forecast shows that India will produce 3.09 million bales in 2010-2011, while consumption will reach 2.85 million bales. As the current situation continues to develop, many textile mills in June 2011 are likely to “cottage cotton shortages†and will even spread to the livelihood issue. From this perspective, the country must strictly control cotton export quotas, otherwise the entire textile value chain will be blocked.
The South Indian Textile Association recommended that the textile, industry and commerce and agriculture sectors should unite and jointly maintain the export ceiling of 550,000 bales.
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