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Cotton yarn exports may rise 7.7 pc this fiscal: CAB

Exports of cotton yarn from the country are estimated to rise 7.7 percent to 1,150 million kg in the current fiscal, driven by higher output and rising demand from traditional markets.   

The Cotton Yarn Advisory Board ( CYAB) has projected a 14.2 per cent increase in cotton yarn production to 4,000 million kg in 2013-14, a source told a news agency.

Cotton production was estimated to be around 340 lakh bales, according to the estimates of the Cotton Advisory Board (CAB) for the 2012-13 cotton season (October to September).

Besides, total demand is expected to increase by 44 per cent to 3,900 million kg during this fiscal.

"There is a jump in demand for cotton yarn both in domestic and western markets as mills' consumption is increasing," the source said.

Power loom and hosiery units account for more than half of the total demand for cotton yarn.

Also, there is a surge in number of export orders for cotton yarn not only from traditional markets like the US, China, South Korea and Bangladesh but also from emerging markets such as Latin America and Africa, he added.

The closing stock of cotton yarn is expected to be 215 million kg in the current fiscal.