IN SHORT: China 2012 cotton area forecast to decline

China's 2012 cotton-growing area is forecast to decline 8.2 pct due to falling cotton prices, according to a survey published on an industry website on Friday. Planned cotton acreage was estimated at 4.86 million hectares, or 72.94 million mu, said www.cncotton.com, operated by China National Cotton Reserves Corp.
The survey, which began in late November, is based on major cotton growers in 15 provinces. Earlier this week, another influential industry publication forecast China's cotton area in major growing regions to fall 9 percent in 2012. cotton said dwindling textile demand and higher growing costs also weighed on cotton farmers' interests, dampening their willingness to grow the crop. China will announce the cotton purchase price for next year by the time of the upcoming spring planting season.