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Cotton prices likely to stay firm

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CIOL Bureau
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BANGALORE: Production of cotton in India between Oct 2007 and Sep 2008 may increase to 300 lakh bales compared to 270 lakh bales in 2006-2007.  The higher production is due to increase in the land under cotton cultivation and the use of genetically modified (GM) seeds.

In spite of increased production, the prices are unlikely to decrease due to strong demand in the domestic market. The exports are likely to be 30-35 lakh bales (47 lakh bales). The expected decrease is due to the appreciation of the rupee and lower demand from China.

Source: India Business Insight /yarnsandfibers.com
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