Global body sees India 2017-18 cotton export 930,000 tn, up 2% on year.

India’s cotton exports are likely to rise 2% on year to 930,000 tn in 2017-18 (Aug-Jul) due to rise in global consumption and fall in ending stocks in China. Globally, consumption of cotton is expected to rise to 25 mln tn, against 24.47 mln tn pegged last year. Ending stocks of cotton in China to fall by 16% on year to 8.9 mln tn in 2017-18. China’s ending stocks account for almost half of the inventories across the world. Globally, year-ending stocks are expected at 18.8 mln tn, down from 18.9 mln tn last year, the committee said. Rise in import estimates by China, Bangladesh and Vietnam, the major importers, may also increase exports of cotton from India in the current season. In 2017-18, imports of cotton by Bangladesh are projected to rise 7% on year to 1.5 mln tn, while Vietnam is likely to import 1.3 mln tn, up 5% on year. China may import around 1.1 mln tn, up 4% on year. Output of cotton in India, the world’s largest producer, is estimated to rise 6% to 6.1 mln tn during the period, while in China, the production is likely to be at 5.2 mln tn, up 7% on year.