Futures tip, Rise in cotton prices, dearth of incentives make exports uncompetitive
Cotton yarn, fabric exports see dismal growth of 0.38% year-on-year in dollar terms in December 2017
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A sharp 11 percent rise in cotton prices during the past two months in India has pushed up raw material costs for mills, making export unviable and uncompetitive. International cotton prices are also up by 17 percent, but 2.7 percent appreciation in the Indian rupee has nullified all the gains to be had from global cotton prices.
While cotton yarn and cotton fabric exports have seen a dismal growth of 0.38 percent year-on-year in dollar terms in December 2017, that for man-made yarn and fabrics grew by 6.77 percent.
As per the central government's quick estimates of exports for some of the major commodities for December 2017, cotton yarn, cotton fabrics, cotton made-ups and handloom products, among others grew by 0.38 percent to stand at $938.57 million, up from $935.05 million in December 2016.
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