×
39 567
Fashion Jobs
H&M
Logistics Wms Manager
Permanent · Burlington
CLINIQUE
Retail Beauty Sales Manager - Clinique - (Midrivers) - st. Peter's, mo
Permanent · Saint Charles
AVEDA
Director, Retail Marketing (Fss), Aveda North America
Permanent · Blaine
TAPESTRY
sr. Manager, Merchandising - Women's Outlet Bags
Permanent · New York
TAPESTRY
Project Manager, Store Construction
Permanent · New York
TAPESTRY
Senior Art Director - Brand Creative
Permanent · New York
TAPESTRY
Buyer, Men's Outlet
Permanent · New York
TAPESTRY
Director, Creative Project Management
Permanent · New York
ROSS STORES
IT Senior Manager (Supply Chain Warehouse Core Systems)
Permanent · Fort Mill
ROSS STORES
IT Manager i (New Store Openings, Store Systems)
Permanent · Dublin
ROSS STORES
Real Estate Law Attorney, Director
Permanent · Dublin
ROSS STORES
Merchant Operations Manager (Compliance)
Permanent · New York
ROSS STORES
Loss Prevention Associate
Permanent · Rock Hill
ROSS STORES
Coordinator, Legal Compliance
Permanent · New York
ROSS STORES
IT Manager i (Host Security Delivery)
Permanent · Dublin
ROSS STORES
Loss Prevention Associate
Permanent · Fort Mill
ROSS STORES
Director, Merchandise Finance
Permanent · New York
ROSS STORES
IT Manager i (Store Systems Security)
Permanent · Dublin
ROSS STORES
Loss Prevention Associate
Permanent · Fort Mill
ROSS STORES
Director, Corporate Human Resources Business Partner (Hrbp)
Permanent · Dublin
ROSS STORES
Loss Prevention Associate
Permanent · Fort Mill
ROSS STORES
Area Loss Prevention Manager (Alpm)
Permanent · Littleton

India's cotton exports to slump 41 pct as China buys less

By
Reuters
Published
today Apr 1, 2015
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Cotton exports from India, the world's biggest producer and second biggest seller, are expected to fall 41 percent to a five-year low of 7 million bales this crop year ending September as top buyer China curbs purchases, a government official said.

Bulging world stockpiles and waning demand from China - intent on supporting its own growers - are hurting state-run Cotton Corporation of India (CCI), which is set to suffer its steepest loss in at least six years from sales in the current season.

Lower exports from India could support benchmark New York price that fell to a one-week low on Monday.

India's Textile Commissioner Kiran Soni Gupta on Tuesday revised downward the export forecast of 9 million bales made in October and said the country will have to raise sales to Bangladesh, Pakistan and Vietnam that together account for about 40 percent of the total exports currently.

Lower prices for Indian cotton may help boost shipments to these markets, though demand in China, which used to account for 60 percent of the exports, was not encouraging, Gupta said.

"Currently there is a good chance to enhance exports (to other markets) because Indian cotton is at 65 cents per lb versus international cotton at 75 cents," said Gupta, chief of the agency that was set up during the Second World War to supply clothes to defence forces as well as civilian population.

CCI, which procures cotton at government-set prices, has been struggling to sell despite having already bought 8.6 million bales from farmers out of its target of 9 million. CCI has sold just 300,000 bales so far, Chairman and Managing Director B.K. Mishra said.

India is expected to produce 39 million bales this crop year, down from the previous forecast of 40 million bales as yields suffered due to poor rains around the planting period late last year, Gupta said.

Domestic cotton demand is expected to rise about 7 percent to 32 million bales this crop year.

$1 = £0.68

© Thomson Reuters 2019 All rights reserved.