Cotton price to remain firm despite record harvest

Cotton prices are remain relatively high next season despite a record crop, the International Cotton Advisory Committee said, even as it raised further its hopes for the harvest. The intergovernmental group raised by 200,000 tonnes to 27.6m tonnes (127m bales) its forecast for world cotton output in 2011-12, putting the crop nearly 1m tonnes ahead of the current record, hit four seasons ago. "

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