China 2012 cotton output seen down 4.2pc on year

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BEIJING: China, the world’s top cotton consumer, is expected to harvest 6.9 million tonnes this year, a decline of 4.2 percent, due to a smaller sowing area, an official from the country’s top planning agency said in remarks cited on Tuesday.

Rising production costs have eaten into profits of cotton farmers despite the government having raised its purchase prices by 3 percent this year, the unnamed official was quoted as saying.

Source: http://www.brecorder.com/markets/commodities/asia/84613-china-2012-cotton-output-seen-down-42pc-on-year-.html

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