Weather conditions unfavorable for India's cotton export volume is less than expected

A senior official from the Federal Ministry of Textiles of India stated that due to non-seasonal precipitation in the states of Girat, Maharashtra and Andhra Pradesh, the number of Indian cotton exports this year may not reach the target.

The Ministry of Textiles believes that by the December 15 cotton export deadline, the export volume will be only 2.5 million bales (170 kilograms per bag), compared with 5.5 million bales allowed by the government. When attending a roadshow, Vice Minister of Cotton Vriznivas revealed to the media that the number of exports this year seems to be about 2.5 million bales. However, the trade group said that the export volume is 2 million bales, and the deputy minister said that this number seems reasonable.

He said that the Ministry of Textiles has set a maximum export volume of 5.5 million bales, but they assume a large harvest of cotton. Due to the shortage of cotton supplies at home and abroad, cotton prices have skyrocketed.

The minister of state for the textile industry, Panabaka Lakshmi, said that the central government has approved the construction of 40 integrated textile parks nationwide, of which 25 have already been operated.

The central government approved Rs 14 crore and the development of these textile parks is expected to invest approximately Rs 20,000 crore. The rest of the textile park will be put into production next year.