India Cotton Export Restrictions, International Cotton Market Adds Insult To Injury
According to foreign reports in November 2nd, India Government restrictions cotton Exports have greatly increased the global cotton market and increased uncertainty. Recently, the United States National Cotton Federation (NCC) and industry associations held a meeting, the industry is deeply worried.
NCC said that the price difference between the international cotton price and India cotton price has reached 13 cents since the restriction of cotton export in India in April 19th, while the average price difference between the two countries was about 5 cents.
India's move is good for its own textile industry, but at the cost of other countries' textile industry.
At the end of September, India put the export quota of cotton in 2010 at 935 thousand tons. Although these cotton will be shipped in December 15th, India textile industry is still calling for the export of cotton to be postponed to January 1st next year.
The representative of the US cotton industry said India's action intensified the already tense global supply and demand. situation The shortage of cotton is likely to lead to a further rise in the US unemployment rate in the two or three quarter of 2011.
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