India’s Cotton Exports to Tank 41 Percent as China Curbs Buying

MUMBAI (Reuters) – Cotton exports from India, the world’s second-biggest producer and seller, are expected to fall 41 percent to 7 million bales this crop year ending on Sept. 30 as top buyer China curbs purchases, Textile Commissioner Kiran Soni Gupta said. India on Tuesday also lowered the production estimate to 39 million bales from the previous forecast of 40 million bales made in October. The prior export forecast was 9 million bales for this season. China, the world’s largest cotton importer, accounts for more than 60 percent of total raw cotton exports from India. The rest goes to Bangladesh, Pakistan and Vietnam.

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