The East India Cotton Association (EICA) forecasts that production in this cotton year which runs from October 2006-September 2007, is likely to touch 282 lakh bales against previous estimates of 270 bales.
Talking to Fibre2fashion, an EICA official said that cotton exports may reach upto 55 lakh bales by the end of this cotton year compared to 47 lakh bales last year even if international prices increased by over 6 percent in July.
Meanwhile domestic cotton consumption has increased from 168 lakh bales in 2002-2003 to 240 lakh bales in 2006-2007.
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