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India cotton exports to drop

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India is likely to export nearly one-fifth less cotton than estimated as pink bollworms are expected to eat into the south Asian country’s output. Lower exports from the world’s biggest producer will help its rivals like the U.S, Brazil and Australia to increase their exports to Asian buyers such as Pakistan, China and Bangladesh.

“Production estimates have been revised downwards due to the pest attack,” said a leading cotton exporter.

Earlier, industry officials were estimating exports of 7.5 million bales of 150 kg each.

A 19 percent jump in the area planted for cotton prompted industry officials to estimate production of 40 million bales in the 2017/2018 season.