India Reached 100 To 1 Million 400 Thousand Tons Of New Cotton Export Agreement

A senior trade official said.

On September 9th, a senior trade officer said in September 9th that India exporters had agreed to ship 100-140 tons of new cotton export agreements. Recently, the government decided not to limit the shipment volume that began in the next market year in October 1st.

Most of the cotton supply will go to the top executives of a large trading company who do not want to reveal their names.

The cotton contract will be delivered in December.

The new supply is usually listed at the end of 9.

Last week, India allowed 5 million 500 thousand export packages of 170 kilograms of cotton per packet, and said that the latter would be subject to customs duties.

Exporters will probably benefit from soaring global prices after the recent floods in Pakistan, a big producer, have led to a 16% reduction in cotton production in the country and supply worries.

The global demand for cotton is mainly due to the largest consumption of textiles in China.

However, exports will reduce domestic supply and increase the cost of raw materials for textile companies.

A senior textile industry insider said, "most of the new cotton arrived before November has been signed for export.

Therefore, the supply of the domestic market is definitely in short supply, and at least 11 months (0) (0) commented on other comments in this article.

Cotton prices have surged over 65% since October 1st last year, to 38000 rupees per 356 kilograms.

The India textile factory has complained that a large number of exports have caused domestic supply shortages and appealed to the government to restrict exports.

Cotton futures climbed to a two-year high on Tuesday. ICE's most active December cotton contract rose 1.9% to 91.18 cents a pound.

But on Wednesday, it closed down to a profit of 90.56 cents per pound.

Cotton production in India reached 32 million 500 thousand tons in 2010/11, 10% higher than the previous year, due to increased planting area and good rainfall during the rainy season.

It is estimated that the cotton shipment volume will be 8 million 300 thousand bales in 2009/10.