The US Department Of Agriculture Says India'S Cotton Exports Will Slow Down In Mid December.
According to the latest US Department of agriculture (USDA) report, India
cotton
Exports are expected to slow down in mid December, because the demand for major cotton consumption countries is uncertain, especially in China.
The US Department of Agriculture added that 2011-12 (October -9) India export forecast has been lowered by 5,00000 package, from 170 kg to 7 million 500 thousand bales.
However, the US Department of agriculture did not adjust India's cotton production this year, still at 35 million bales.
According to the US Department of agriculture report, cotton exports in India may be around mid December.
slow down
Because
Exporter
Waiting for clearer tariff levels and enquiries from China.
India's cotton export prospects are uncertain because China may raise tariffs in January 1, 2012 and there is no guarantee for China's procurement plan.
The US Department of Agriculture added that up to now, India has registered 2 million tons of exports to China and Bangladesh.
In 2010-11, India estimated that there were about 6 million bales of cotton exported.
The US Department of agriculture's report also indicated that in recent months, the rupee in India has depreciated by nearly 20% against the US dollar, from 44 rupees to 52 rupees / dollars. Therefore, India cotton is selling less than cotton in other cotton producing countries.
However, despite the expected record of cotton production in India, the number of cotton arrivals continued to lag behind in 2010-11, because cotton pickup time was postponed and farmers were reluctant to sell cotton, expecting market prices and support prices to rise.
According to reports, India cotton is the lowest price cotton in the main cotton exporting countries, but the seed cotton trading price is 40-42 rupees / kg at present, which is higher than the lowest supporting price 31-32 rupees / kg.
The US Department of Agriculture says cotton prices have dropped in recent days in India, indicating that cotton arrival rate is accelerating.
In terms of domestic demand, the US Department of Agriculture said the demand for India's domestic textile industry remained weak, and the textile mills only purchased cotton which was in urgent need recently because of the large stock of yarn and weak export demand.
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