India'S Exports To Cotton May Increase To 1 Million 500 Thousand Packs From April To June.
On Wednesday, India officials said drawback India's -6 exports will more than double in April, when the rupee depreciates against the US dollar.
India Southern Cotton Association reported that in April -6, cotton exports could reach about 1 million 500 thousand packages, 170 kilos per pack, compared to 597060 packages in January -3 months.
In February, the federal government approved the tax rebate rate increase to Raw cotton 5% of the value of exports began in April 1, 2008 and continued to June 30th, shrinking overseas demand in response to the global economic downturn.
At the same time, the rupee has been in existence since January. depreciation About 2.6%, India's export price competitiveness has improved.
However, by the end of September 30th, the total annual export volume of the market is expected to be lower than that of last year, because the demand of major importing countries is not as good as that of last year, such as China.
As China's textile exports have declined, the demand for cotton in China has dropped drastically.
China is the largest cotton in India. Imported The state accounts for more than 70% of India's cotton exports, followed by Pakistan, Bangladesh and Thailand.
Exports may drop to 4 million packs, down from 8 million 500 thousand packages in 2007-08 and lower than 5 million packages previously estimated.
Cotton production in 2008-09 may be reduced by 10% to 29 million packs due to delayed planting time and insufficient rainfall.
Editor in chief: Wang Xiaonan
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