Symbol: COTTON| Contract: Jul, 2015| Category: Fiber
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Cotton's Latest News
Cotton exports from India, the world's biggest producer and seller, are expected to fall 41 per cent to a five-year low of 7 million bales this crop year ending September as top buyer China curbs purchases, a government official said.
India Ratings & Research has revised its cotton outlook to negative for 2015-16 due to a decline in domestic yarn production, an unlikely recovery in cotton exports and a fall in domestic cotton prices below minimum support prices (MSP).
The CCI started selling from its stockpiles last month to make room in its warehouses for the ongoing bumper harvest, but managed to find buyers for less than half of what it auctioned.
The government on Tuesday kicked off a sale of its cotton stockpiles, putting a first tranche of 5,100 bales up for auction.
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