Mumbai: Cotton output in the year ending September 2009 is pegged at 31.65 million bales, slightly higher than last year's production of 31.5 million bales. The output is hoped to be higher even as the acreage under cotton cultivation fell to 9.26 million hectares against 9.5 million hectares last year due to 4.27 per cent increase in yield to58.5 million bales against 56 million bales last year. The total cotton accessibility for 2008-09 is likely to be 37 million bales, comprising 4.3 million bales of carry-over stock.
The global economic slowdown is hoped to keep the prices under pressure in both domestic and world market. However, the farmers in India will be protected from the drop in prices as the Government has declared a minimum support price of Rs 2,200/quintal for medium staple and Rs 3,000/quintal for long staple variety. Total cotton exports in 2008-09 are witnessed down at about 7.5 million bales, compared to 8.5 million bales a year ago.
The global economic slowdown is hoped to keep the prices under pressure in both domestic and world market. However, the farmers in India will be protected from the drop in prices as the Government has declared a minimum support price of Rs 2,200/quintal for medium staple and Rs 3,000/quintal for long staple variety. Total cotton exports in 2008-09 are witnessed down at about 7.5 million bales, compared to 8.5 million bales a year ago.
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