Cotton Production In India Increased By 10% In The Year 2010-11.
2010-11 India
cotton
Output may increase by 10%.
On Wednesday, a senior government official said the next market year.
India
Cotton production is likely to increase by about 10%, because the rate of return is high.
A farmer
The cotton planting area has been expanded.
An unnamed official told the media that India is the world's largest cotton producer after China. In the market year that began in October 1st, India's cotton production could be increased to about 32 million bales and 170 kilos a packet, compared with 2009-10 annual output of about 29 million 200 thousand packs.
The official is a member of the Government Cotton Advisory Committee, and the cotton Commission also assesses cotton production.
The committee may publish its 2010-11 year cotton production forecast on Friday.
He said that the output will be adjusted by a small margin, which will exceed 32 million packages.
According to the latest government data, cotton planting area increased by 18% to 9 million 500 thousand hectares by the year July 22nd.
Cotton cultivation in India usually begins at the onset of the monsoon season in June, and cotton planting advances along with the progress of rainfall.
September is the cotton picking season.
India is the second largest exporter of cotton in the world. India's output will increase, which may reduce the price of its own cotton, and provide more relief for the government to control cotton exports. This will help China, the biggest importer of cotton.
In addition, lower prices will help local textile mills reduce raw material costs. Industry veteran points out that prices may drop to less than 28000 rupee / candy (356 kg) in India in October.
Since October, the price of local cotton has soared by about 30% to 29500 rupee / candy in India, thanks to a surge in exports.
The government has imposed a 2500 rupee / ton tariff on cotton exports. It also stipulates that dealers must obtain government approval before signing contracts with foreign buyers before shipment can be carried out.
Last month, a senior government official disclosed that the cotton export tax might be revoked in the next market year, because cotton production in the summer is expected to increase.
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