Cotton yarn export is expected to more than double this year to around 80 lakh bales on the back of a revival in demand in major overseas markets, a senior government official said today.
"As of now we have exported 55 lakh bales of cotton yarn. We expect to achieve the target of 80 lakh bales by September, 2010 due to significant rise in demand from overseas," Textile Commissioner A B Joshi told reporters here.
Last year, India's total cotton yarn exports stood at 35-lakh bales.
Out of the total exports so far this year, nearly 30.7 lakh bales of cotton yarn was to China making it as the largest cotton yarn export destination, followed by Bangladesh (8.60 lakh bales), Pakistan (4.02 lakh bales) and Hongkong (2.18 lakh bales), Joshi said.
"The cotton yarn export was dull last year as the demand in overseas markets was hugely impacted by the economic slowdown. This year, however, we expect to achieve the target as markets are recovering," Joshi said.
According to the Cotton Advisory Board's (CAB) estimate, the cotton output in the domestic market for 2009-10 is projected at 292 lakh bales as against 290 lakh bales last year.
