Commodity Profile for Cotton- May, 2016

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1 (As on ) Commodity Profile for Cotton- May, 2016 Contents 1. Cotton Estimates for India Cotton Estimates for World Domestic Production Global Production Major Exporting and Importing Countries of Cotton in the World Major Exporting Countries in the World Major importing Countries in the World India s Major Export Destinations India s Trade Flow during to Domestic Prices Movement Price Movement for Raw Cotton (Kapas) Price Movement for Cotton (Lint) Movement of Domestic as well as International prices of Cotton Minimum Support Price (MSP) for Cotton during to Future prices Price Movement in Major Domestic Mandis Cotton Arrivals in Major Domestic Mandis Trade Policy Export policy Import Policy C o m m o d i t y P r o f i l e f o r C o t t o n - M a y,

2 1. Cotton Estimates for India (Crop Year: October 2015 to September 2016) (Unit:Lakh Bales) Table 1: Cotton Stock, Crop Size, Trade, and Consumption (Estimated) Particular March, 2016 Source Supply Opening stock - Textile Commissioner Crop Size # DAC Total Imports 4.45** DoC Total Availability Demand Mill Consumption Textile Commissioner Small-Mill Consumption Textile Commissioner Non-Mill Consumption Textile Commissioner Total Consumption Textile Commissioner Total Exports 60.49** DoC Sources: Department of Agriculture and Cooperation (DAC),Department of Commerce (DoC), Textile Commissioner. # As per 3 rd Advance Estimates for , DES of For preparing estimated figure for , Opening Stock, Mill Consumption, Small Mill Consumption, Non-mill Consumption, Exports, and Imports have been taken for last three years average. **Export and import is for October- March, Cotton Estimates for World (Unit: lakh Bales) Table2: Global Cotton Stocks, Production, Consumption & Export Year Beginning * August 1 Beginning stock Cotton Production Cotton Consumption Cotton Exports Ending stocks Source: USDA *: Estimated Figure During and , the world production has decreased by 3percent (from 1,582 Lakh Bales to 1,528 Lakh Bales), export by 27% (from 597Lakh Bales to 433Lakh Bales). However consumption has increased by 3.6 percent (from 1,377Lakh Bales to 1,427 Lakh Bales). Estimated figure for consumption has increased whereas, production and export has decreased in This is due to excess stock accumulated during the last two years. Based on USDA database the world export may decline by around 2 lakh bales in over the exported value registered in Fall in the import demand from China and excess stocks in the markets are the contributing factors in the decline of total exports during C o m m o d i t y P r o f i l e f o r C o t t o n - M a y,

3 lakh bales Qty in Lacs Bales 3. Domestic Production Figure 1: Domestic Cotton Production Production (Lakh Bales) Source: DES, Agriculture, Cooperation& Farmers Welfare 1 Bale=170 Kgs The projected figure for domestic production in is less than that of the previous year. 4. Global Production Figure 2: Global Production India China USA Pakistan Brazil Uzbekistan * Source: United State Department of Agriculture (USDA). *: Advance estimation by USDA Turkey Other India and China were the top two global producers of cotton in followed by USA. 3 C o m m o d i t y P r o f i l e f o r C o t t o n - M a y,

4 Lakh Bales Lakh Bales 5. Major Exporting and Importing Countries of Cotton in the World 5.1 Major Exporting Countries in the World Figure 3: Major Exporting Countries Source: Comtrade USA was the major exporting country in the world followed by India and Australia in Major importing Countries in the World Figure 4: Major Importing Countries Source: Comtrade China was the largest importing country in the world followed by Turkey and Indonesia in C o m m o d i t y P r o f i l e f o r C o t t o n - M a y,

5 Value in Rs Crore 6. India s Major Export Destinations Figure 5: India's Major Export Destination Source: Department of Commerce India s major Export destinations in were Bangladesh, Pakistan and China. Countries such as Bangladesh, Vietnam, Pakistan and Taiwan are scaling up their cotton imports from India to meet the requirements of their export-focused garment industries. China s restrictive import policy and its accumulated stock have adversely impacted India s export to that country in India s Trade Flow during to Table 3: Trade Flow for India Year Lakh Tonnes Lakh Bales Export Import Export Import Source: Department of Commerce India exported substantial quantity of cotton during to C o m m o d i t y P r o f i l e f o r C o t t o n - M a y,

6 12-Oct Oct Oct Oct-15 5-Nov Nov Nov Nov Nov-15 5-Dec Dec Dec Dec Dec-15 7-Jan Jan Jan Jan-16 1-Feb-16 6-Feb Feb Feb Feb-16 1-Mar-16 7-Mar Mar Mar Mar Mar-16 6-Apr Apr Apr Apr Apr-16 Rs./Quintal 8. Domestic Prices Movement 8.1 Price Movement for Raw Cotton (Kapas)at major Centers during October, 2015 and April, Figure 6: Kapas Price Trend at Key Centers Oct Nov Dec Jan Feb Mar Apr-16 Rajkot (BT) Ahmedabad (S-6) Amravati (Mech-1) Hisar (BT) Source: Textile Commissioner Prices for raw cotton (Kapas) in major markets are showing a mixed trend. Rs./ Maund (of kg each) 8.2 Price Movement for Cotton Lint at major centers during October, 2015 and April, Figure 7: Lint Price Trend at Key Centers Source: Textile Commissioner Bhatinda Sirsa Abohar 6 C o m m o d i t y P r o f i l e f o r C o t t o n - M a y,

7 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 Rs/Ton 9 Movement of Domestic as well as International Prices of Cotton Figure 8: Monthly Domestic and International Price Movement International prices (Cotlook A Index) Domestic Prices ( Shankar-6) Source: International Price cotlook.com, Domestic Price- Textile commissioner Domestic Prices have been lower than International price since October, Minimum Support Price (MSP) for Cotton during to (Unit: Rupees/Quintal ) Table 4: Minimum Support Price for Cotton Staple Size Medium Staple Cotton Long Staple Cotton Source: Commission for Agricultural Costs and Prices (CACP) An increase in the Minimum Support Price (MSP) for both Medium as well as long staple size cotton is recorded. This figure has increased by 35 percent for medium staple and 24 percent for long staple cotton in the last 5 years. 7 C o m m o d i t y P r o f i l e f o r C o t t o n - M a y,

8 11 Future prices Date of Contract 10 May 2016 Table 5: Future Prices for Cotton 10 April 2016 (1 month ago) 10 Feb 2016 (3 months ago) 10 Nov 2015 (6 months ago) 10 May 2015 (year ago) (Unit: Rupees/Bale) % Change over a month % Change over previous year May July Oct Dec Mar N.A N.A May N.A N.A N.A Source: Intercontinental Exchange (ICE). Future prices for cotton are expected to increase over previous year. 12 Price Movement in Major Domestic Mandis (Unit: Rupees/ Quintal) Table 6: Price Movement in Major Domestic Mandis Markets April, 2016 March, 2016 April, 2015 % Change (over previous month) % Change (over previous year) Rajkot Surender Nagar Amaravati Guntur Warangal Sirsa Bhatinda Ganganagar Source: Agmarknet Major domestic Mandis in India experienced an increase in prices in April 2016 over the same period of the previous year (See Table 6). 8 C o m m o d i t y P r o f i l e f o r C o t t o n - M a y,

9 13 Cotton Arrivals in Major Domestic Mandis Markets April 2016 (cumulative) Table 7: Cotton Arrivals in Major Domestic Mandis March 2016 April 2015 (cumulative) (cumulative) % Change (over previous month) (Unit:Tonnes) % Change (over previous year) Rajkot Surender Nagar Amravati Guntur Warangal Sirsa Bhatinda Ganganagar Source: Agmarknet. Arrivals in April, 2016 in major domestic mandis like Surender Nagar, Guntur, Sirsa, Bhatinda, and Ganganagar were less over the same period of the last year. 14 Trade Policy 14.1 Export policy Export of cotton is free without any restrictions. Table 8: Export Policy Exim Item Description Policy Code 5201 Cotton neither carded nor combed Free* 5202 Cotton waste (including yarn waste and garneted stock) Free 5203 Cotton, carded or combed Free* Source: Directorate General of Foreign Trade (DGFT) *: The registration requirement for export of cotton (HS Code 5201and 5203) has been dispensed with vide DGFT s Notification No. 102 (RE-2013)/ , dt: C o m m o d i t y P r o f i l e f o r C o t t o n - M a y,

10 14.2 Import Policy Import of cotton is duty free without restrictions. Table 9: Import Policy Exim Code Item Description Policy 5201 COTTON NOT CARDED OR COMBED Bound Rate Standard Rate Applied Rate Cotton, not carded or combed: Indian cotton: 100% 10% Nil Bengal deshi 100% 10% Nil Indian cotton of staple lengths % 10% Nil mm (25/32 ) and below (e.g. oomras, yellow picking, Assam comillas) Indian cotton of staple length 100% 10% Nil exceeding 20.5mm (26/32 ) but not exceeding 24.5 mm (30/32 ) Indian cotton of staple length over 100% 10% Nil 24.5mm (31/32 ) to 28mm Indian cotton of staple length 100% 10% Nil 28.5mm (14/32 ) and above but below 34.5mm Indian cotton of all staple length 100% 10% Nil 34.5mm and above (112/32 ) Cotton, other than Indian, of all 100% 10% Nil staple length 5202 COTTON WASTE (INCLUDING YARN WASTE AND GARNETTED STOCK) Yarn waste (including thread waste) 100% 15% Nil Other: Garnetted stock 100% 15% Nil Other 100% 15% Nil 5203 COTTON, CARDED OR COMBED Cotton, carded or combed 150% 30% Nil Source: Directorate General of Foreign Trade (DGFT), WTO and D/o Revenue, CBCE 10 C o m m o d i t y P r o f i l e f o r C o t t o n - M a y,

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