With the Global Fall in Cotton production, Traders buy and stock cotton for exports

摘要

With the global cotton crop estimated to fall 14 per cent in 2013-14, prices of the commodity have touched an 11-month high in international markets. Sensing an export opportunity, leading multinational traders have turned buyers of Indian cotton, leading to a rise in prices. The International Cotton Advisory Committee has said in the next financial year, global production is estimated to drop 14 per cent to 22 million tonnes.