India Cotton Growing Area Increased By 15% In 2011/12

India cotton (0, -30420.00, -100.00%) Association (CAI) said that farmers in India will increase their planting area by 15% in 2011/12, and the estimated increase in planting area is based on the expected increase in income.

Comprehensive media March 28th news Trade The organization said in March 28th that farmers in India will raise their cotton planting area by 15% in 2011/12, raising the possibility that domestic prices will decline from the current close to record highs from June.

　　 India The Cotton Association (CAI) said its estimate of the planting area of the second largest cotton producing countries in the world was based on the expected increase in earnings.

Cotton prices in India hit a record high of 60200 rupees per kg (356 kg) in March 22nd, mainly following the world. Cotton price The rally.

Cotton futures in ICE5 hit a record high of $2.195 a pound in March 7th. supply Anxiety lifted.

"We expect to grow at least 15% of all cotton producing areas," said DhirenSheth, President of the India Cotton Association.

"Plus Orissa, there are nine cotton producing countries. In these areas, we expect that the cotton planting area will increase by about 15%, and the increase in prices will push farmers to grow cotton," he added.

Sheth said farmers will replant cotton instead of rice, peanuts and soybeans (0, -4490.00, -100.00%).

Cotton producers in India say cotton production will increase in the next crop year, even if the planting area has not increased, productivity has also improved.

"The planting area may not increase substantially, but the productivity in 2011 is higher than that in 2010," said D.K.Nair, Secretary of the India textile industry alliance.

India allowed the current export of 5 million 500 thousand bales of cotton in the current year, because output in 2011 is expected to be around 31 million 200 thousand packages, an increase of 5.8% over 2010, when the output was damaged by drought.

However, due to heavy rain damaging the harvest, the government had to extend the deadline for export to February 25th.

Buyers rush to buy cotton to meet export deadline and boost domestic prices. But the current export quotas have been filled and domestic prices will be softened.

India originally estimated to produce nearly 33 million bales of cotton, and the subsequent rains prompted the government to reduce its estimate.