The output of the cotton crop in Pakistan is likely to improve during this season mainly due to favourable weather conditions. It is being projected that Pakistan’s cotton crop is expected to be 10.6 million bales, slightly higher than 9.7 million recorded in the last year.
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Consumption of Turkish cotton is expected to hit a 10-year high next year as the country’s cotton industry invests in new technology.
Consumption of Turkish cotton is expected to hit a 10-year high next year as the country’s cotton industry invests in new technology.
Consumption of Turkish cotton is expected to hit a 10-year high next year as the country’s cotton industry invests in new technology.
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.
The US Department of Agriculture (USDA) has raised India’s cotton export forecast in April 2016 on account of increased demand form Pakistan. India’s exports are boosted 250,000 bales to 5.8 million on strong demand, especially from Pakistan, USDA said in its latest report. “Strong textile exports, especially of apparel and bed wear, have forced Pakistan’s textile sector to look to imported cotton, especially from India, to make up for a significantly smaller crop,†according to the report.
The Cotton Association of India fears that India may be piling up huge inventory of cotton just like China, if the Cotton Corporation of India (CCI) does not take measures to offload its stock swiftly. Maintaining the cotton output at the last estimated level of 38.27 million bales (a bale is 170 kg), Dhiren N Sheth, President, CAI, says the Corporation had procured about 8.7 million bales from farmers as part of the Government’s minimum support price commitment.