India raised cotton Output estimation in 2010/11 season

India increased the output of cotton output estimation by 4.1% in 2010-11 cotton season. This is because that the cotton farmers began to release kept inventory, and improve the import prospect of Indian cotton.
      In the cotton season of 2010-11, cotton output may goes up to 32.5 million packages,31.2 million package more than before. Joe, spinning committee member,said after the review reference with the Indian consult board of directors conference.
    Joe said that cotton farmers control the inventory of cotton to except a better price, but they hope to totally release their inventory before the arrival of new cotton.
    Till the end of the cotton season in 30,September,2010,India produces 29.5 million package. India has permit to export 6.5 million package of cotton in this season.
    Higher cotton output is estimated to discourage the global cotton price. In the International Exchange, cotton future end up with the price of 98.64 cent per bag in Friday, drop more that 50% than the peak time of 2011,2.2 cent per pound.
    Joe said, in the cotton season of 2010-11, India's total cotton supply (incoluding the import and carry-over inventory) is estimated to go up to 37.05 million package, the total demand may decrease to 31.8 million bags.