The India government said in December 14th that global demand was slowing and domestic consumption slowed, leading to India's surplus cotton this year. Price So down.

Panabaaka Lakshmi, the state minister in charge of textiles, wrote in reply to the federal Academy. consumption Slowing down, coupled with a reduction in demand for cotton in the international market, India has seen a surplus of cotton and a decline in cotton prices.

She said, "2011-12 cotton season" natural Fiber production increased from 32 million 500 thousand packs last year to 35 million 600 thousand bales (170 kg / pack), and domestic cotton consumption this year is expected to reduce to 21 million packs, down from 24 million packs last year.

She added that domestic textile mills operate only 15 days' inventory.

She said that with the number of shipments coming up in 2011-12 years from 100 thousand packages per day last year to 300 thousand bales / days, the demand has not increased at home and abroad, so the price has plummeted.

"Cotton prices in December 2011 dropped to 34500 rupees / candy from 62400 rupees / candy in April 2011," she said. India's cotton price is 86 cents / lb, which is already the cheapest cotton in the world. 1 candy equals 3.6.