Cotton and sugar prices in India may move upwards in 2012-13 as the production of the two commodities is estimated to be lower than 2011-12, according to Centre for Monitoring Indian Economy (CMIE).
Cotton prices in India's National Commodity and Derivatives Exchange (NCDEX) dropped on Thursday due to higher production amid lower demand from domestic textile firms and slowed exports to China.
Global cotton prices may drop down further in 2012-13 as US Department of Agriculture (USDA) in its report “Cotton : World Market and Trade” has lowered the import forecast of China.
Cotton futures in New York Board of Trade (NYBOT) and in India's National Commodity and Derivatives Exchange (NCDEX), traded down due to higher production and sluggish demand.
