India Plans to Sell Cotton to Bangladesh to Trim Record Reserves
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India plans to sell cotton to Bangladesh to trim its bulging reserves following a slump in demand from textile mills in the top grower.
State-owned Cotton Corp. of India may export 1.5 million to 2 million bales of the fiber to the neighboring nation to help reduce India’s record surplus before the new crop begins arriving in October, said Pradeep Kumar Agarwal, chairman of the company. It generally sells cotton to local mills and traders at market prices, after buying from farmers at government-set minimum rates.