Cotton production in India, the world’s second-largest grower, is set to climb to an all-time high as delays in monsoon rains prompt farmers to switch from soybeans and peanuts, the nation’s biggest cotton trader said. Futures in New York fell.
The Oct. 18 fire at the Santos Port terminal in Brazil turned out to be a one-day event. A combination of other ports picking up some of the slack and a well-supplied world market has allowed sugar prices to fall back to the lows.
India’s growing GDP is very important to gold’s rise, especially when it comes to the Love Trade. The math shows that an increasing GDP per capita in this part of the world has historically been linked to the rising price of gold.
Gold demand in China, India and the Middle East surged in the 12 months to September while European sales contracted, underscoring a shift in the global bullion market from west to east, according to the World Gold Council.