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Related Keywords: caused price flare up, cotton bales, Cotton market, improved buying by mills and spinners, increase in booking orders by the foreign countries, Indian cotton export, official spot rate picked up, rates may go up in coming days, short supply, strong demand, witnessed rise in cotton prices sharply

The cotton market on Wednesday in the process of improved buying by mills and spinners, witnessed rise in cotton prices sharply, dealer said. According to market sources, short supply and strong demand by mills and spinners caused price flare-up. It is expected that the rates may go up in the coming days.

The official spot rate also picked up Rs 50 to Rs 5400 while in Punjab, rates of phutti were at Rs 2800-3150. In ready business 8000 deals of cotton bales finalized at Rs 5300-5750, dealers said.

Related Keywords: Indian cotton export

India, the world's second-biggest cotton grower having already exported 8.8 million bales of natural fibre and is expected to ship 10 million bales in the current 2013-14 marketing year will see a downward trend in its cotton exports in the 2014-15 marketing year starting August as exportable supplies will be curbed by domestic demand and lower production.

According to the latest report on cotton by US Department of Agriculture (USDA) India’s cotton exports are likely to plunge by 23 percent to 7.7 million bales in the marketing year 2014-15. One bale comprises of 170 kg of cotton.

Related Keywords: Indian cotton export

India, the world's second biggest cotton producer has seen a rise by five percent in its cotton exports till February of this year. It exported 7.8 million bales, one bale has 170 kg. Exports from December to February were primarily to China, Bangladesh, Vietnam, and Pakistan. However the pace of shipments is expected to lessen in coming months depending upon demand from China as per the latest report.