India’s cotton exports are likely to rebound in 2009-10 with 1.4 million tons of the fiber projected to be sold in the overseas market, an international cotton body said.
“Indian exports (cotton) are expected to rebound strongly in 2009-10 to 1.4 million tons,” the International Cotton Advisory Committee (ICAC) said in a statement.
The fiber export from India, the world’s second largest cotton producer, dipped substantially last year as Indian prices remained uncompetitive amid global economic slowdown that hit demand badly, according to industry experts.
The shipments are estimated to be below one million tons in 2008-09, they said.
According to ICAC, the global cotton demand is expected to recover slightly this year depending on an improvement in the world economic growth. The demand is forecast to recover marginally to 23.5 million tons in 2009-10.