Cotton Exports In India May Raise Cotton Prices
Exporters and cotton traders said Monday that India this week cotton It may go up slightly. market It is expected that the government will cancel. Exit Restrictions, but the increase in market arrivals may limit price increases.
An official of the federal Textiles Department of India said that India is exporting cotton and India government will reexamine the domestic cotton supply situation to decide whether to liberate its exports.
India began exporting cotton in November, most of its cotton exports to China, and then exported to other importing countries, because China's textile industry has strong demand, and China is the world's largest cotton importing country.
It is expected that India will cancel 5 million 500 thousand bales of cotton export quota, because the supply of cotton is increasing.
India will review cotton export policy in December, agriculture minister Sharad Pawar said last month.
India has a bumper harvest this year.
The output is expected to increase to 36 million packs. When the number of daily arrivals increased to 250000 packets in mid November and increased to 300000 packs in December, India may expand its export volume.
India postponed the export of cotton in 2010/11 for one month. By November 1st, the arrival time of cotton was delayed because of the rain in the planting area.
Usually the cotton season begins in October in India.
After the festival of Diwali, the number of cotton arriving in all cotton producing countries began to increase.
On Monday, India's most used Carle 6 varieties traded at a price of 42500 rupees / candy (356 kg).
According to the India Cotton Corp, the number of goods arrived in November 6th was 2 million 780 thousand bales (170 kg / bag), compared with 2 million 770 thousand packages in the same period last year.
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