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India'S Cotton Exports Are Expected To Expand Due To The Bumper Cotton Harvest And Rupee Weakness.

2011/10/12 16:32:00 25

Cotton Bumper Harvest Rupee India Is Expected To Expand

India government and industry insiders said on Monday.

India

As the second largest cotton supplier in the world, India's cotton exports are expected to expand in the year to September 2012, due to the bumper harvest of cotton and the rupee. But the biggest buyer of cotton in India and Pakistan cotton will also have a good harvest, which may inhibit the sale of cotton in India.

Officials say 2011-12 years of cotton exports

Probably

Expanded to 800-900 bales, compared to last year exported 7 million packs.

The number of exports decreased by more than 18% last year due to the government's restrictions on exports. It was not until July that the export quota was lifted.

Last month, the government announced that cotton exports would not be restricted in 2011-12 years unless otherwise notified.

This year cotton exports may be larger than last year, because this year's output is larger.

India's Ministry of Agriculture estimates that cotton output is about 36 million 100 thousand packs, larger than the Cotton Advisory Committee estimates.

Last month, the Cotton Advisory Committee supported by the India government predicted that, in the current year of sales, which began in October 1st, India might have harvested 35 million 500 thousand packs of the highest historical output, because of the increased planting area and abundant rainfall.

Cotton planting area increased by 9% from last year to about 12 million hectares.

monsoon

Seasonal precipitation is widespread.

In 2010-11, India produced 32 million 500 thousand bales of cotton.

Since September, the rupee has depreciated more than 8% against the US dollar. In the financial turmoil, investors regarded the US dollar as a safe haven currency.

Due to good weather, cotton production in China and Pakistan is expected to rise to 7 million 250 thousand tons and 2 million 270 thousand tons in 2011-12 years, compared with 6 million 400 thousand tons and 1 million 910 thousand tons respectively last year.

According to the International Cotton Advisory Committee, global cotton consumption is expected to reach 24 million 720 thousand tons in 2011-12 years, compared with 26 million 910 thousand tons.

Because of 2011-12 years of planting

The measure of area

The expansion will lead to a bumper harvest of cotton in major countries, which will lead to an increase in inventories and lower prices.

In October 7th, domestic cotton prices in India were about 39000 rupees / candy (356 kg), lower than 61500 rupees / candy in April 1st.