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H1 cotton exports to quota countries exceed expectations 

Our Bureau  
Mumbai, Nov 7: Indian exports of cotton textiles to non-quota countries during the first six months of the current year (April-September) has outperformed the exports to quota countries.

The exports to non-quota countries amounted to $1,132 million against previous year's $974 million registering a growth rate of almost 11 per cent. As against this exports to quota countries declined by nearly 10 per cent at $631 million as against previous year's $728 million.

The share of exports to quota countries has declined to 35.80 per cent while exports to non-quota countries has increased to 64.80 per cent from the previous year's 42.78 per cent and 57.22 per cent respectively.

Total exports of Indian cotton textiles amounted to $1,763 million as against $1,702 million registering an increase of meagre 3.57 per cent.

However, in spite of the increase, the performance of exports against the target set for the year has registered a decline of 2.4 percentage points compared to previous year.

The exportsachieved account for 45.20 per cent of the target for the current year which is set at $3,900 million. While last year the exports achievement was 47.62 per cent against the target of $3,575 million.

The exports of fabrics and madeups to both quota and non-quota has declined by 1.58 per cent at $982 million as against previous year's $997 million. Exports of fabrics and madeups to quota countries at $551.43 million has shown a decline from previous year's $614 million. The percentage share in total exports has also declined to 56.18 per cent against 61.57 per cent.

However, exports of fabrics and madeups to non-quota countries largely set-off the loss by registering an increase at $430 million as against 383 million. Thus the share in total exports has also increased to 43.83 per cent against 38.43 per cent.

Exports of yarn and sewing thread has displayed a hefty rise at $781 million as against previous year's $705 million. The target achievement has been 52.09 per cent against previous year's 44.06per cent. However, it is worth noting that the target for the current year for yarn and sewing thread has been reduced to $1,500 million from previous year's $1,600 million.

The share in total exports to quota countries has declined at 10.19 per cent against previous year's 16.19 per cent. The exports of yarn and sewing thread to quota countries stood at $781 million against $114 million. However, the exports of yarn and sewing thread to non-quota countries has increased substantially at $702 million from last year's $ 591 million. Thus the share in total exports also increased to 89.81 per cent as against 83.81 per cent.

The average price realisation in respect of cotton fabrics has decreased to $0.48 per square metre in January to September 1999, as against $0.52 per square metre in January to September 1998. In respect of cotton yarn the average price decreased to $2.80 per kg during January to September 1999, from $3.05 per kg, when compared to the same period of last year.The overall performance incotton textiles during January to September 1999, stood at Rs 11,271.12 crore, which is higher by 6.88 per cent when compared to the Rs 10,545.89 crore achieved during January to September 1998.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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