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A summer t-shirt may cost you a bit more in the coming months. Cotton prices are soaring. Futures for the commodity were trading at their highest levels since 2011 this week, surpassing $1.48 per ...
The United States exports more cotton than any other country, though it ranks third in total production, behind China and India. [1] Almost all of the cotton fiber growth and production occurs in the Southern United States and the Western United States, dominated by Texas, California, Arizona, Mississippi, Arkansas, and Louisiana.
GM cotton acreage in India grew at a rapid rate, increasing from 50,000 hectares in 2002 to 10.6 million hectares in 2011. The total cotton area in India was 12.1 million hectares in 2011, so GM cotton was grown on 88% of the cotton area. This made India the country with the largest area of GM cotton in the world. [75]
The cotton industry played a significant role in the development of the American economy, with the production of cotton being the major source of income for slave owners in the southern United States prior to the Civil War, while the transport of said cotton to English and French mills and beyond became a mainstay of Northern shipping.
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It contributes 5% to the global spinning capacity. At present, there are 1,221 ginning units, 442 spinning units and 124 large spinning units in addition to 425 small units which produce textiles. Pakistan is the third largest consumer of cotton. Exports of $3.5 billion were recorded in 2017–18 (6.5% of the total exported cotton on the world).
A "bale of cotton" is also the standard trading unit for cotton on the wholesale national and international markets. Although different cotton-growing countries have their bale standards, for example, In the United States, cotton is usually measured at approximately 0.48 cubic meters (17 cu ft) and weighs 226.8 kilograms (500 pounds). [6]
Gossypium hirsutum, also known as upland cotton or Mexican cotton, is the most widely planted species of cotton in the world. Globally, about 90% of all cotton production is of cultivars derived from this species. [2] In the United States, the world's largest exporter of cotton, it constitutes approximately 95% of all cotton production.