India May Postpone The Decision To Export More Cotton

A senior government official said on Wednesday that India may postpone its scheduled meeting on Thursday, which will decide on the export of more cotton. India's annual market determined Cotton export The quota is 5 million 500 thousand bales.

Exporters are striving to export more cotton, because they still have a lot of cotton after they have shipped all the permitted exports in the market year beginning in October 1st. although International cotton price The peak hit since March is still higher than the local price.

The Ministry of agriculture has been striving to improve 2010/11. Export quotas 1 million 500 thousand packages (170 kilograms per pack), while the Ministry of textiles has objections to prevent prices from rising.

The ministerial group composed of the textile Ministry, the Ministry of agriculture, the Ministry of trade and the Ministry of finance will make decisions on export issues.

Global cotton inventories are at a low level for many years, and textile processors are increasingly turning to India for raw materials, because of the decline in production of large cotton producing countries such as China and Pakistan.

India expects to produce 31 million 200 thousand bales of cotton in 2010/11, higher than the 29 million 500 thousand package of the previous year, due to increased planting area and adequate rainfall.