Indian cotton output estimates lowered

India has further reduced the estimates of cotton production from the earlier estimates made in October 2010 and April 2011.

Cotton production is estimated to touch 30.5 million bales (1 bale = 170 kg), down from estimates of 31.2 million bales in April and 32.9 million bales in October.

The unseasonable rains which hit most of the cotton reducing regions in India had resulted in lower cotton arrivals in the markets.

The untimely rains had brought down the yields of the cotton crop and alongside also spoilt the same.