Price Rise May Delay India's Cotton Export Time

2010/9/29 10:14:00 37

Industry officials in India say

Cotton inventory

Gradually, the arrival of new cotton is very poor. Therefore, India may delay the export of cotton for two weeks. By mid October, this may stimulate the global cotton prices to rise.

India is the second largest in the world.

Cotton producing country

India plans to export 5 million 500 thousand bales of cotton in 2010-11 years (beginning in October 1st).

Earlier this month, India postponed the registration date of cotton exports which began in September 15th until October 1st, because the textile industry is worried about the rise in domestic prices.

The Ministry of agriculture and textiles will meet on Tuesday to determine the export volume for 2010-11 years.

If the conference allows exports, then the domestic textile mills and

Exporter

It will compete for a limited supply of cotton and the price will be pushed up again.

In India, the price of the most popular Carle 6 variety on Saturday was 37700 rupees ($837.8) / candy (356 kg), an increase of 68% over the same period last year.

Prices hit a record high of 38500 rupees earlier this month.

Last week, New York cotton rose to a 15 year high because of speculation and textile mill procurement. Analysts said that the main reason for the price increase was speculation, and they expected cotton prices to continue to rise if the weather in China and Pakistan was bad.

This year, about 60% of India's cotton exports to China, China is the world's largest cotton consumption country.

The India Cotton Advisory Committee expects that in the 2010-11 year, 4 million 50 thousand bags in the early were 43% lower than the previous year.