India: Cotton and Products Update
Post lowered its MY 2016/17 area and production forecasts to 11.2 million hectares and 27 million 480 lb. bales. Despite a good monsoon, farmers have shifted area to food crops owing to expected returns and continued risk of cotton pest pressure and associated input costs. As domestic arrivals slow, Indian ex-gin cotton prices have gone higher than Cotlook A prices and mills are importing. The Cotton Advisory Board revised its MY 2014/15 and MY 2015/16 estimates. The Government of India raised the minimum support price of cotton by 1 percent for MY 2016.
India: Cotton and Products Update
