<h1>India's Cotton Exports Hit Record High Despite Global Price Drop; 2012-13 Season Sees 70 Lakh Bales Surplus.</h1> International cotton prices have declined due to overstocking and reduced global demand, influencing domestic prices in India to follow a similar trend. Despite this, India's cotton exports for the 2011-12 season reached a record 129 lakh bales. For the 2012-13 season, the Cotton Advisory Board estimates production at 334 lakh bales with an exportable surplus of 70 lakh bales. As of early November 2012, 4.5 lakh bales have been registered for export. There is no export ban for the 2012-13 season, and exports are allowed under an Open General License with a registration procedure.