India that stands second among the world's biggest producers of cotton may witness delayed harvest of these crops this season, due to an extended monsoon.
As per the weather bureau, the monsoon may beat the previous forecast, affecting around 235 million farmers. This impinges on cotton harvests, which could again lead to soaring up of domestic prices of cotton.
Continuance of rain for further two weeks is likely to reduce the cotton production of India, as extensive rain may eventually damage a portion of the standing crop and also lead to diseases, which could also affect the yield.
A variety of medium staple cotton, 'Shankar-6', witnessed price hike to Rs 38,000 per candy (1 candy=355 kg) recently, following the delayed crop arrival due to rains.
Fibre2fashion News Desk - India
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