India Has Signed 100000 Packs Of New Cotton Export Sales Contract
On Friday, a senior cotton official said that in the current sales year since October 1st, India has signed about 100000 packages or 17000 tons of new cotton export sales contracts.
Subhash Grover, executive director of the India Cotton Corp, said that the price of the contract was much lower than the contract price last year due to the gap between local prices and international prices.
Grover said that the price of India is far higher than the target price of international buyers. They are waiting for the price to continue to fall, because India new cotton will accelerate the listing speed in the next few weeks. So far, Grover has not signed a new contract. But by November, after the new cotton went public, prices fell, and more contracts are expected.
The India Cotton Advisory Committee expects that the export volume will be 7 million 500 thousand bales this year. He said that India cotton harvest, now only wait until domestic prices fall, you can make mouth business.
This year, India expects to produce about 32 million 200 thousand bales of cotton, compared with 31 million 500 thousand bags last year.
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