Flooding Impacts India’s Cotton Sales
January 13, 2010 Bloomberg
Thomas Kutty Abraham
Cotton sales by farmers in India, the second-biggest producer, declined in the season started October 1 after floods in some areas damaged the crop.
Market arrivals dropped to 12.7 million bales on January 2, down from 12.8 million bales a year ago, Cotton Corp. of India, the nation’s biggest buyer, said on its website. Daily arrivals were 200,000 bales of 170 kilograms each, the company said.
India’s cotton production may gain to 29.5 million bales of 170 kilograms each in the year ending September 30, from 29 million bales last season, the Cotton Advisory Board has said. Exports may more than double to 7 million bales this year, the Cotton Association of India said October 27.
Arrivals in Andhra Pradesh, a southern state ravaged by a flood in October, slumped to 1.5 million bales from 2.4 million bales a year earlier, Cotton Corp. said. Market arrivals in the western state of Gujarat, India’s largest producer, jumped to 4.5 million bales from 2.81 million bales a year earlier, Cotton Corp. said.
(Story found in original format here.)
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