Texas, the largest cotton producing state in the United States is to have the acreage decline of 5.1 percentage from the 2011 level. Compared to other regions, the decline in Texas is relatively less. Producers are expected to plant drought tolerant crop such as cotton and hence the decline in cotton acreage is relatively less compared to other regions, said the NCC report.
Increase in import of cotton by China has raised the world cotton trade for 2011-12 by 1 million bales, according to the latest USDA WASDE report.
It looks just days before the annual Indian budget, India’s Finance Minister Pranab Mukherjee wants to cash in on the commodity futures market by levying a transaction charge on every trade done on the commodity exchanges in the country.
Floods in Australia due to heavy rains badly affected the lives of people and also threatens the farming regions.
