NEW YORK (Commodity Online): 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.
According to USDA WASDE report, the global cotton production is raised to 505,000 bales due largely to higher production estimates from India, Pakistan. while, the world consumption is forecast is reduced slightly on decreased consumption from Thailand, the United States, and
some others.
Meanwhile, the beginning stocks are raised by 1.6 million bales, mainly reflecting increased estimates for India’s production in 2009-10 and 2010-11.
India is expected to produce around 35.5 million tons for 2011-12.
In Inter-Cotinental Exchange (ICE), the cotton for March delivery traded at 91.35 cents on 9th Februaryand In India's Multiu Commodity Exchange (MCX), the commodity for March delivery traded down 1.045 to Rs 18120 on 10th February at 11:00 IST.
