India exports more than 1.5 lakh bales of cotton to China since it''s tariff war with US


PUNE: Indian mills have exported more than 1.5 lakh bales of cotton to China during last 10 days since the trade war between China and the US broke out.

"We have contracted between 1.5 lakh bales to 2 lakh bales of exports to China during past 10 days," said Atul Ganatra, president Cotton Association of India (CAI).

As soon as the trade restrictions between US and China come into force, Indian cotton trade expects China to shift to India for its cotton requirements.

"We started getting inquiries right from the day the news of US taxes on China was announced," said Ganatra.

Since the begging of the Cotton Year 2017-28 on October 1, 2017, of the total export of 55 lakh bales, India has exported about 6 lakh bales of cotton to China.

Indian exporters are confident that export demand from China will remain incremental and remain even higher in 2018-19 as the country has been progressively reducing government stocks of cotton.

Source: The Economic Times, India
Tuesday, 17 April 2018

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