Asian giants top competitors for cotton production
08 Dec '06
1 min read
For past couple of years, cotton exports have been on a rise with China emerging as a potential market.
Today, statistics reveal that 70-75 percent of the domestic production is being exported.
In 2005, of the total 18 million bales, 9 million were exported to China.
China is not only the largest producer, but also the top importer of cotton, consuming almost 50 million bales this year, of which almost 20 million were imported.
India has also emerged as one of the major cotton producers in past couple of years and in experts opinion the country is showing no signs of slowing down.
These two Asian giants are top competitors for the US when it comes to cotton output and sale.
However, analysts suggest that the US needs to cater to the specific requirements of the export market and though tough, with technological and other advances this should not be a massive challenge.
marketing@alchempro.com
