Cotton City Is Still High Fever &Nbsp; &Nbsp; India Cotton Anxious Export.

On Tuesday (9.28) cotton in the ICE Intercontinental Exchange in New York hit a new high of 15 years. Although India issued a signal that it would allow exports of cotton, the market still had fever for fiber.

Cotton delivered in December was also the most active contract for ICE trading, which gained 1.26 cents, or 1.2%, to 1.0518 dollars / pound.

The October contract, which was short but short in volume, closed 2.1% higher at 1.0814 dollars / pound.

The India Ministerial Conference postponed the cotton business for a day, and the meeting decided to allow it to start in November 1st.

The official export registration time will begin on October 1st, the new market year.

The decision has succeeded in cooling cotton prices to some extent.

Kis Brown of Tom Brown Corp of Ji Si said that the market is still a super bull market.

Global cotton stocks have dropped to a low level for many years. Floods in Pakistan and China have destroyed many cotton plants. They will increase their purchases in the international market to meet the needs of domestic light industry.

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Last week, the India textile industry said they hoped to ban cotton exports by January to ensure that domestic textile factories had time to replenish their stocks, and cotton futures soared.

China and Pakistan are running out of supplies, so India is expected to hold cotton, causing global cotton shortages.

After complaints from the India textile mill, the Minister of textile industry of India was forced to postpone the export date to January to ensure the supply of cotton in China.

The new cotton picking time in India began at the beginning of this month, and the acquisition of quality cotton needed by the textile factories was basically completed in January.

Earlier this month, India allowed export duty of 5 million 500 thousand tons of cotton, 170 kg per pack, and the excess portion would be taxed.

Agriculture minister Sharad Pawar said cotton bumper harvest allowed India to comfortably export 7 million 500 thousand to 8 million bales of cotton in 2010-11 years.

The October 15th ministerial meeting will examine whether the export of cotton outside the 5 million 500 thousand package needs to be taxed.

The government has not yet announced the tax standard for exported cotton outside the 5 million 500 thousand package.

If the time of export registration is postponed to October 1st, the delivery plan of domestic cotton exporters will be interrupted. They have signed about 1 million 400 thousand packages of new cotton export contracts in advance.

The US Department of agriculture predicts that global cotton production will exceed production this year. Textile mills have been snapping up cotton in recent months, resulting in a steady increase in prices since July.

Because other countries are in urgent need of cotton in India, cotton growers in India can sell cotton to other countries for more money and sell less to domestic textile mills.

In the 2010-11 year, India expected to produce 32 million 500 thousand bales of cotton, 170 kg per pack, 2009-10 feet for 29 million 500 thousand years, 10% more, due to the expansion of planting area.

In the past 2009-10 years, about 8 million 300 thousand bales of cotton were exported to India.

The U.S. stock market rose on Tuesday and the pharmaceutical sector led the market.

M & a news and corporate earnings have increased market confidence.

Poor economic data raised investors' expectations of the Fed's rapid implementation of more stimulus measures.

The Dow Jones industrial average rose 46.10 points to 10858.14 points, or 0.43%, while the Nasdaq composite index rose 9.82 points to 2379.59 points, or 0.41%, while the standard & Poor's 500 index rose 5.52 points to 1147.68 points, or 0.48%.

Exchange data show that in September 24th, 16669 cotton bags were certified in the exchange, 16669 packages were certified in September 28th, and 1659 bags were required to be certified.

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ICE US cotton futures closing September 28th

Contract month