Related Keywords: cotton consumption, cotton production, export estimate, global demand, Indian cotton industry
India, the world's second-biggest cotton producer with strong global demand flowing from buyers beyond China as increased its export estimate for the crop year ending September by 27 per cent on Wednesday.
The new estimate of 11.4 million bales is also higher than India's shipments last year and could further pressure New York cotton futures that hit their lowest in about one and half years on Tuesday. (1 Indian bale = 170 kg)
