India issues cotton export license for 10,000 bales
On April 18, India issued a cotton export license for 1.9 million bales and increased India’s production estimate. India said that liberalizing exports can help farmers get better prices by exporting to China, but because the government hopes that all 1.9 million bales of cotton will be shipped before May 7, it may affect global cotton prices.
In addition, India has slightly raised its cotton production forecast for this year to 34.7 million bales (170 kilograms per bale), higher than the previously expected 34.5 million bales. Relevant government departments have raised domestic cotton exports this year to 11.5 million bales, compared with the previously expected export volume of 8.4 million bales.
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