Governments rally behind cotton growers

摘要

According to the International Cotton Advisory Committee (ICAC), governments of large cotton-producing countries are taking measures to help growers, in light of the drop in the Cotlook A Index from 91 cents per 1b in 2013/14 to around 74 cents per lb this season, with further significant drops over recent months. The plummeting prices have prompted China to provide a cotton subsidy of 2,000 yuan per ton to growers in nine inland provinces in 2014. India has a minimum support price system that did not go into effect in the last few seasons due to high prices, but prices have fallen enough to trigger it this season.