Learn More About Cotton Exports
India is set to overtake the United States in cotton production by 2015 however most of this product is used locally . The rise in global prices in 2012 at around 10% saw the volume of cotton exports by the Asian tiger spike only slightly. The Cotton Advisory Board (CAB) met in January this year to estimate the local production, consumption and exports. Production in India, the world's second biggest producer, is pegged at 33.9 million bales. Projections indicated that the exportable excess this year (October 2012 to September 2013) would be close to 80 lakh bales.
The Shankar-6 variety which has high demand abroad experienced a sharp rise in price from Rs. 34, 000 a candy (355 kg) to Rs. 37, 200.According to Mohit D. Shah, the vice president of International l Cotton Association . India in recent years has adopted policies to reduce exportation for local consumption that include banning exports.
Countries involved in this commercialism of the above named crop use several methods of transporting it from one country to another. Research done in the recent years shows that Brazil is the leading producer and majority uses airplanes and ships in this transportation. It is evident that the crop is not of these perishable types that require extra care during transportation. Thus, the gin got from farms can take as long as several months or years before getting perished.
The Bangladeshi Commerce Ministry recently protested against the Indian ban. According to them it was against global trade norms, arguing that the repeatedly stopping of shipments of the natural fiber had impacted negatively Bangladesh's textile industry. China, the biggest consumers worldwide, also lodged a formal protest amid signs that India is rethinking the ban.
The commercialization of this named crop has economic significance to the countries producing the crop and the countries that purchase the crop from other countries. There are several economic significances, however, to name but only a few, the commercialization of the produce leads to industrialization, results in employment in the industries established, leads to the development of infrastructure in the producing countries and lastly, acts as a source of foreign income to the producing countries.
Majority of Africa production is done through subsidiary farming in small holdings. Furthermore human labor instead of machines is greatly employed. This limits the volume of production thereby having a negative impact on the overall exports. Lack of advanced technology and poor farming methods have significantly hindered their production levels.
The passing of NAFTA and GATT has increased the output sold abroad by 5 million bales Around 11 million bales from USA were released on the world market from 1995 to 2003 which led to prices for the commodity being low during that time. This contributed to the reduction of the commodity prices in the global market. It dipped to 48 cents in 1997 and bottomed out at 28 cents in 2000. Until 2003 the commodity went on to transact in range of forty eight.
At that price it was being sold at 30 cents less than the average growing cost and 40 cents what the mean of what these farmers received for it at the gin. The challenges in cotton exports price are set to continue due to the policies adopted by these two market leaders. This business has therefore favored the countries that are engaging in this type of business. It is an opportunity that should not be left out.
The Shankar-6 variety which has high demand abroad experienced a sharp rise in price from Rs. 34, 000 a candy (355 kg) to Rs. 37, 200.According to Mohit D. Shah, the vice president of International l Cotton Association . India in recent years has adopted policies to reduce exportation for local consumption that include banning exports.
Countries involved in this commercialism of the above named crop use several methods of transporting it from one country to another. Research done in the recent years shows that Brazil is the leading producer and majority uses airplanes and ships in this transportation. It is evident that the crop is not of these perishable types that require extra care during transportation. Thus, the gin got from farms can take as long as several months or years before getting perished.
The Bangladeshi Commerce Ministry recently protested against the Indian ban. According to them it was against global trade norms, arguing that the repeatedly stopping of shipments of the natural fiber had impacted negatively Bangladesh's textile industry. China, the biggest consumers worldwide, also lodged a formal protest amid signs that India is rethinking the ban.
The commercialization of this named crop has economic significance to the countries producing the crop and the countries that purchase the crop from other countries. There are several economic significances, however, to name but only a few, the commercialization of the produce leads to industrialization, results in employment in the industries established, leads to the development of infrastructure in the producing countries and lastly, acts as a source of foreign income to the producing countries.
Majority of Africa production is done through subsidiary farming in small holdings. Furthermore human labor instead of machines is greatly employed. This limits the volume of production thereby having a negative impact on the overall exports. Lack of advanced technology and poor farming methods have significantly hindered their production levels.
The passing of NAFTA and GATT has increased the output sold abroad by 5 million bales Around 11 million bales from USA were released on the world market from 1995 to 2003 which led to prices for the commodity being low during that time. This contributed to the reduction of the commodity prices in the global market. It dipped to 48 cents in 1997 and bottomed out at 28 cents in 2000. Until 2003 the commodity went on to transact in range of forty eight.
At that price it was being sold at 30 cents less than the average growing cost and 40 cents what the mean of what these farmers received for it at the gin. The challenges in cotton exports price are set to continue due to the policies adopted by these two market leaders. This business has therefore favored the countries that are engaging in this type of business. It is an opportunity that should not be left out.
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