CCI aims to boost cotton exports to Bangladesh, Vietnam

25-09-2020

The Cotton Corporation of India (CCI) has surplus cotton stocks before the next harvest season, and it is trying to increase exports. CCI Chairman PK Agarwal said that a memorandum of understanding is being developed to export 150,000-200,000 bales (170 kg each) of cotton to Bangladesh, and CCI will also establish its own warehouse in Vietnam.

The company purchased nearly a third of India's 2019-20 cotton production. Among the 12.1 million bales of cotton purchased by its agent, the National Cooperative Marketing Federation of Maharashtra, it has been able to sell 900,000 bales in the current cotton season as of September 30.

A top Indian business newspaper quoted Agarwal as saying: "In order to increase exports to Vietnam, we are looking for a warehouse to facilitate transportation and provide cotton to Vietnamese buyers because Vietnam is one of the biggest textile manufacturer country."

Due to the lockdown and COVID-19, farmers in Tamil Nadu, especially those in the delta region where summer cotton is harvested this year, have experienced low demand and prices. However, under the intervention of the state government, so far, CCI has stepped in and purchased more than 40% of the crops, providing relief to farmers.

The government of Tamil Nadu has made temporary arrangements in more cotton growing areas so that farmers can sell their agricultural products to CCI or traders more quickly for textile or fabric use.
According to J Thulasidharan, President of the Cotton Federation of India, Tamil Nadu is the only state where cotton is grown in summer, and the industry usually buys cotton.


Although polyster and spandex/lycra play great role in the textile and clothes industy, cotton is still the mainstream for fabric knitting.

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