PUNE: India’s cotton exports have gained momentum as Indian cotton is currently the cheapest in the world. Cotton Corporation of India, which is holding the largest stocks in the country, has sold close to 5 million bales of cotton in the past two months, a lot of which has been shipped abroad by private traders.
“Cotton exports have been sharply up and hence we expect prices to move upwards in the coming week. Due to excess rainfall, there is more moisture in cotton and arrival of good quality cotton has been delayed, giving support to the prices,” said Gnanasekar Thaigarajan, Director, Comtrendz Research.
The state-owned company is trying to sign a government-to-government agreement with Bangladesh which is presently being cleared by different Ministries.
