According to a NASDAQ Report, cotton for December delivery rose 2.1 per cent to end at 75.83 cents a pound on the ICE Futures U.S. exchange, the highest since June 24, 2014. Cotton has been a star performer this year among commodities.
Browsing: ICAC
Cotton production in two major countries?China and the US
Cotton production in two major countries?China and the US
Textiles is India´s foremost manufacturing industry and has a significant impact on the economy since it contributes to industrial output, employment generation and the export earnings of the country. With contribution of about 14 per cent to the industrial production, 4 per cent to the GDP and 13 per cent to the country´s total export earnings, the industry provide direct employment to over 45 million people.
Textiles is India´s foremost manufacturing industry and has a significant impact on the economy since it contributes to industrial output, employment generation and the export earnings of the country. With contribution of about 14 per cent to the industrial production, 4 per cent to the GDP and 13 per cent to the country´s total export earnings, the industry provide direct employment to over 45 million people.
In the 2015-16 season, world cotton imports may recover modestly, increasing 2 per cent to 7.7 mts with imports outside of China rising by 3 per cent to 6.1 mts. In 2011-12, Chinese imports more than doubled from the previous season to 5.3 mts and surpassed the total volume of imports by the rest of world, which reached only 4.4 mts.
Cotton prices in India are expected to remain subdued in the near future. Coming to the domestic scenario, prices are likely to trend in line with the international markets as domestic prices have plunged below the international levels offering no triggers for upside movement.