Related Keywords: CAB, Cotton prices recorded over 5 percent gain, current cotton prices rise as temporary, current crop year, following sharp decline in output estimates, hit fabric and garment manufacturers profit margins hard, non availability of good quality cotton, supported the move, Textile mills, Traders are estimating cotton output to decline further
Following a sharp decline in output estimates for the current crop year, prices of cotton have recorded over 5 percent gain after bottoming out on March 23. Non-availability of good quality cotton has also supported the move immensely.
Traders are estimating cotton output to decline further to 31 million bales (170 kg each). Some go down further with the fibre output forecast at 30 million bales for the current season.
