Cotton prices in India are likely to increase further in the next two months due to the rise in demand for cotton exports from countries such as Bangladesh and Indonesia.
Speaking to fibre2fashion, secretary of Saurashtra Ginners Association, Mr. Anand Popat said, “The cotton prices in India are likely to increase over the next two months due to the shortage in supply of cotton compared to the rise in demand for cotton exports.”
“We are getting orders for cotton mainly from China, Bangladesh and Indonesia,” he adds.
He informs, “Besides the rise in demand for cotton in export market, there is a rise in demand in the domestic market too and with the increase in demand the market prices for cotton would increase in next two months.”
Echoing him, Mr. Arun Dalal, well-known cotton trader, says, “There will be a continued increase in export demand for Indian cotton and the prices will surge in the near future.”
“At present, the price of benchmark Shankar-6 cotton variety is hovering around Rs. 34,000 per candy of 356 kg. We expect the price to rise by Rs. 3,000-4,000 per candy by March-April this year,” he added.
