CCl aims to boost cotton exports to Bangladesh, Vietnam
The Cotton Cororation of lndia (Ccl has surplus cotton stocks before the next harvest season, and it is trving to increase exports. CCChairman Pk Agarwal said that a memorandum of understanding is being developed to export 150,000-200,000 bales (170 kg each) of cottonto Bangladesh, and CCl will also establish its own warehouse in Vietnam.
The company purchased nearly a third of ndia's 2019-20 cotton production. Among the 12.1 milion bales of cotton purchased by its aaent. theNational Cooperative Marketing Federation of Maharashtra, it has been able to sell 900,000 bales in the current cotton season as of Septembe30.
A top ndian business newspaper cuoted Acarwal as saving: "n order to increase exports to Vietnam, we are ooking for a warehouse tcfaclitate transportation and provide cotton to Vietnamese buyers because Vietnam is one of the biggest textile manufacturer country'
Due to the ockdown and COVID19, farmers in Tamil Nadu, especially those in the delta region where summer cotton is harvested this yeartave experenced low demand and prices. However, under the intervention of the state coverment. so far, CCl has stepped in and purchase
more than 40% of the crops, providing relief to farmers.
The covernment of Tami Nadu has made temporary arrancements in more coton crowind areas so that fermers can sel their acriculturaproducts to CCI or traders more quickly for textile or fabric use.
According to J Thulasidharan, President of the Coton Federation of ndia, Tamil Nadu is the only state where cotton is grown in summer, andthe industry usually buys cotton.
Althouch polyster and spandexlycra play great role in the textile and clothes industy, cotton is stil the mainstream for fabric kniting.
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