Global cotton prices to adjust

India is one of the world’s second-largest cotton industry, cotton this season, comes from India’s cotton exports are expected to decline because farmers lifted overseas sales of cotton from domestic cotton price higher in more profits, the domestic cotton price The Government of India is fixed.

The cut-off on September 30 to 12 months, India’s cotton exports fell from a year ago 8,500,000 package, state-run Cotton Corporation of India managing director Subhash Grover said. India’s cotton is India’s largest cotton procurement companies.

The Government of India in May elections, the Government of India in September to set minimum purchasing price of cotton rose by 48%, which is to protect the income of farmers 10,000,000. This year, the New York cotton futures trading fell 39 percent because of global consumer spending as a result of restrictions on banks to reduce credit.

Yesterday in Mumbai and National Commodity Derivatives Exchange Ltd., cotton futures reached 22,597 rupees / Kandy (356 kg / Candido), about 60.5 cents / lb. Than 47% of high international prices.

In India, cotton prices rose on the textile industry had a major problem, India’s textile industry federation vice president of the Shishir Jaipuria said last week.

As of the September 30 quarter of the cotton, India’s cotton production may increase 2.2 percent to 32,200,000 package, a year earlier to 31,500,000 package, according to the Indian Cotton Advisory Council on the figures. India a pack of about 170 kg of cotton.