New Delhi, 28 June (IANS) | Cotton and yarn exports to China are also likely to be impacted amid tensions at the border with China and rising voices across India over boycott of Chinese goods, but the Cotton Industry Organization says that China would be less Even if you stop buying cotton, there is no shame.
Atul Ganatra, president of the Cotton Association of India (CAI), told IANS that China now buys very little cotton from India anyway, so not buying from China will not affect India’s cotton exports. He said that currently Bangladesh and Vietnam are big buyers of Indian cotton and their shopping is in full swing.
Asked about this year’s cotton exports to China, Ganatra said that India’s cotton is currently the cheapest in the world, so there is a demand for it. He said, “India’s cotton is currently 15 per cent cheaper than the global price of cotton, so its demand remains constant. It has been exported to China even two days ago and it is continuing, but China’s purchases are low. China barely Buys 6.7 lakh bales (170 kg in one lump) of cotton from India as it is obliged to buy cotton from America under the dread deal. ”
Ganatra told that India’s cotton export is estimated to be 47 lakh bales in the current season 2019-20 October-September, out of which Bangladesh will buy 27 lakh bales and in remaining 20 lakh bales, about 10 lakh bales Vietnam and four lakh bales will be exported to Indonesia. Will happen.
Talking about cotton yarn, China was India’s largest buyer of cotton yarn till last year, but this year Bangladesh may overtake it because the demand for yarn from China has been coming down for the past few days.
Lalit Mahajan of Vardhman Textiles, the country’s leading company of cotton yarn exporting companies, told IANS that cotton yarn inquiries from China have declined over the past few days. Asked if the Indo-China border tension affected trade, he said that this could be the reason and Bangladesh would become India’s largest importer of cotton yarn this year due to reduced demand from China.
Lalit Mahajan is the head of Raw Materials at Vardhman Textiles. “Around 25 per cent of the yarn is exported to China this year, while 17 per cent is exported to Bangladesh, while by September, Bangladesh may be buying more than China,” he said.
India yarn is exported to Vietnam, South Korea, Japan and South American countries besides China and Bangladesh.
Interestingly, India sells both cotton and yarn to Vietnam while China buys yarn from Vietnam. Apart from Vietnam, China is also buying cotton yarn from Pakistan.
There is anger among the Indian public over the Chinese attitude after 20 soldiers, including an Indian Army officer, were killed in a tussle between the soldiers of the two countries in the Galvan Valley between India and China.
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