With domestic prices of cotton ruling high, importers have found good parity for buying cotton from abroad and the consignments are expected to land on Indian shores very soon.
However, exports of cotton still continued. According to mill owners, Indian importers, mostly cotton textile mills, have already contracted an estimated 150,000 bales.
The consignments are likely to arrive in the next 20-25 days and may be discharged in one of the southern ports.
A major part of imports would be West African origin and some parcels would be from Brazil.
The imported cotton would be of 28.5-29 mm staple length, which meets specific requirements of mills.
A bumper harvest, estimated between 260 lakh bales and 270 lakh bales (170 kg each), has failed to rein in cotton prices in India.
Cotton arrivals had peaked by February. After registering about 240 lakh bales, arrivals have levelled off and are currently at an estimated 30,000-35,000 bales a day.
The firming rupee, too, is seen to have contributed to price parity. The price of the popular variety, Shankar-6, had crossed Rs 20,000 a candy recently.
