India's cotton exports likely to rebound in 2009-10: ICAC

NEW DELHI: India's cotton exports are likely to rebound in 2009-10 with 1.4 million tonnes of the fibre projected to be sold in the overseas market, an international cotton body said.

"Indian exports (cotton) are expected to rebound strongly in 2009-10 to 1.4 million tonnes," the International Cotton Advisory Committee (ICAC) said in a statement.

The fibre export from India, the world's second largest cotton producer, dipped substantially last year as Indian prices remained uncompetitive amid global economic slowdown that hit demand badly, according to industry experts.

The shipments are estimated to be below one million tonnes in 2008-09, they said.

According to ICAC, the global cotton demand is expected to recover slightly this year depending on an improvement in the world economic growth. The demand is forecast to recover marginally to 23.5 million tonnes in 2009-10, it said.

Similarly, the world cotton trade is predicted to increase by 7 per cent at 6.8 million tonnes, driven by an increase in imports by major consuming countries, including China (Mainland) this year, ICAC said.

The global cotton production is expected to remain stable at 23.6 million tonnes in 2009-10, though, acreage may continue to decline to 30.4 million hectare in the same period, it noted.