China´s cotton imports fell 62.3 per cent in July from a year ago to 1,05,700 tonne. Imports by China, the world´s top cotton consumer, are already down by 33 per cent this year to less than 1 mt after the government issued fewer quotas in a bid to boost demand for domestic fibre.
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The Cotton Association of India (CAI) has released its first estimates of the crop for the 2015-16 season beginning on October 1 at 380 lakh bales of 170 kg each. This is almost similar to the output of 382 lakh bales achieved in the 2014-15 season.
´If our cotton could speak, it would describe the extraordinary people behind its growth and cultivation.´ ´Our farmers are passionate: about their work, their crops and their communities. They are devoted to transforming an element from the earth into a fiber of our lives. They see a singular vision of the crop´s connection to what matters every day, and its embrace of all.´
Another bumper crop of cotton is in offing and tremors are felt already on the price front. The Cotton Corporation of India (CCI) is getting ready for yet another year of minimum support price (MSP) operations.
Joining some of the world´s major cotton organisations, the Japan Cotton Traders´ Association (JCTA) has become a member of the International Cotton Association (ICA) and officially joined its ´safe trading´ community.
ICA Bremen´s new and improved testing laboratory will be officially opened recently, by the German Minister for Economic Cooperation and Development, Dr Gerd Müller.
The predominantly cotton based textile industry has been producing almost 75 per cent of the spun yarn from cotton and therefore, this industry has been subjected to crisis due to volatility in the prices.